Venezuelans Dollarize Christmas Bonuses as Bolivar Dives

[Bacchus4.0]

http://www.bloomberg.com/news/2014-11-24/venezuelans-dollarize-christmas-bonuses-as-bolivar-dives.html?cmpid=yhoo

The bolivar declined the most this month since January as Venezuelans use their Christmas bonuses to buy U.S. dollars amid the world’s fastest inflation and shortages of basic goods.

A dollar fetched a record 128.18 bolivars on the Colombian border today, compared with the official exchange rate of 6.3 bolivars, according to dolartoday.com, a rate-tracking website. The currency has lost 20 percent of its value in unofficial trading this month.

Consumer price increases and shortages of everything from cars to milk are pushing Venezuelans to buy greenbacks, said a black market currency trader in Caracas, who asked not to be named because the activity isn’t legal. The trader said demand for dollars is the highest he has seen since hyperinflation in 1996.

Money supply rose 6.4 percent in the second week of November as workers received their traditional annual bonuses known as “aguinaldos,” according to data compiled by Bloomberg. That was the biggest increase since October 2009.

[COLGATE4]

1. I think it's a better than even bet that

DimSuccessor won't be Pres. of Venezuela next Xmas.

[Bacchus4.0]

2. Where's Weisbrot when we need him? n/t

[COLGATE4]

3. Working on his next article announcing

how the Bolivarian Revolution has triumphed and how all those 'facts' are just capitalist lies.

[Marksman_91]

4. Recently I read a tweet that the oh-so-all-knowing Weisbrot retweeted

Here's the link to it:

https://twitter.com/Dan_Beeton/status/537274532449751040

So despite all the bullshit that Mark talked about, he's now agreeing that Venezuela has serious economic problems. Guess the petro-paycheck that the Chavista regime regularly send him is starting to decline.

[Bacchus4.0]

5. yep he is paid

Recall the ven information office and sites like borev. Abrupt end to borev. No more funding