Billboard translation …..
Well, I really can’t add much to what Zerohedge had to say …..
There are no longer words to summarize the utter devastation taking place in Venezuela’s ‘socialist paradise’ economy, but one can try.
Unfortunately for residents of the Latin American country, what had been predicted on these pages for the past several years is finally coming to pass, as is Venezuela’s official currency: the bolivar fell 25 percent on the black market last week to 423 per dollar. As the unofficial Venezuela currency has weakened 80% in street markets in the past year, it is now worth about 66 times less than the primary official rate of 6.3 bolivars per dollar.
According to Bloomberg, the bolivar’s dwindling value leaves many Venezuelans stuffing their pockets with wads of cash, since stacks of bills are often required for…
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