Tag Archives: Chavez

image_pdfimage_print

Venezuela Implodes, Neighbors Suffer

Author: Bill Witherell, Ph.D., Post Date: August 28, 2018
Cumberland Advisors Market Commentary - Bill Witherell, Ph.D.

Last week Venezuela devalued its currency, the bolivar, by 95%, cutting five zeros off the exchange rate. This measure was a desperate response to hyperinflation that reached an astonishing rate of 83,000% YoY in July, with prices doubling every 26 days. The IMF has projected the rate could reach one million percent this year. Cash transactions […]