Latin America

GatoGordo

(2,412 posts)

22. 13,000,000% and no end in sight

Fri Nov 17, 2017, 08:39 AM

Nov 2017

73,219 Bolivars per dollar. (source: DolarToday.com)

Since Chavismo, the Bolivar Fuerte has devalued 13,000,000%

9,000,000% last Saturday.
10,000,000% on Tuesday
13,000,000% today

Maduro says, "Nonsense! The Bolivar is pegged to the dollar at 10 VEF! This is all propaganda! There is no debt! There is no hyperinflation! Never! Venezuela will never default! There is no want or need! The Oligarchy is trying to make us look bad! They cannot win! The Bolivarian Revolution rolls forward!"

Next week? The 1,000,000 Bolivar bank note.... in case someone needs to buy an arepa.

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Default Day in Venezuela [View all] GatoGordo Nov 2017 OP

So if not for American meddling the debt could be refinanced? Which is not uncommon in commerce. Fred Sanders Nov 2017 #1

Renegotiated debt takes two willing partners GatoGordo Nov 2017 #2

Shambles after 1999 same as the shambles before. Back on topic, the American sanctions Fred Sanders Nov 2017 #3

How familiar are you with Venezuela pre-1999? GatoGordo Nov 2017 #4

Oh my. MyNameGoesHere Nov 2017 #8

That pre-Chavismo Venezuela was far superior to Chavista Venezuela? GatoGordo Nov 2017 #16

You're history is a few years MyNameGoesHere Nov 2017 #19

Citation needed. IAmTheNight Nov 2017 #5

Here ya go...some remember history, some choose to suppress: Fred Sanders Nov 2017 #6

And today's a thousand times worse under Chavista rule IAmTheNight Nov 2017 #7

A thousand times, ya don't say? I answered your request...now you are upset...I get it. Fred Sanders Nov 2017 #9

Inflation in ChavismoLand LAST MONTH was over 50%. GatoGordo Nov 2017 #10

Chavez sabbat hunter Nov 2017 #13

And not only that, but the Chavista leadership decided to hoard most of the oil revenue IAmTheNight Nov 2017 #20

Delcy looks very fashionable in her Ferragamo shoes and Hermes scarf GatoGordo Nov 2017 #21

Only way he won't default sabbat hunter Nov 2017 #11

Chavismo is on the hook for $15 billion to the Chinese GatoGordo Nov 2017 #14

Winner winner, chicken dinner! GatoGordo Nov 2017 #12

It's official GatoGordo Nov 2017 #15

More: EX500rider Nov 2017 #17

I have relatives (wife's extended family) still living in Venezuela. GatoGordo Nov 2017 #18

13,000,000% and no end in sight GatoGordo Nov 2017 #22