Monday, January 11, 2010

Venezuela devalues currency

This is what happens when a currency is devalued.

http://www.reuters.com/article/idUSN096521320100109


Hint: currency debasement is occurring worldwide by sovereign governments, including the US. It's done by either market forces or by government mandate--or both. Either way, consumer purchasing power and wealth is destroyed, even as debts are deflated.

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