Venezuela is the perfect example of what a central bank can do to a currency. Completely destroy it. This is what happens to fiat currencies with central bank control. They expand it until it devalues entirely. Central planning is a failure. Financial and political.
But have no fear, Venezuela’s new cryptocurrency, the Petro will save the day!..what a joke!
It’s better than Bitcoin. Better than FANG stocks. Better than sliced bread? Seriously. This equity market has outperformed it all. Can you guess which one?
Venezuela Stock Market (IBVC) | 1993-2017 | Data | Chart | Calendar
Venezuela Central Bank Balance Sheet | 2006-2017 | Data | Chart | Calendar
No Elections in Venezuela as Long as ‘Vulgar Sanctions’ Stand – Bloomberg