Bank of America anticipates strong devaluation for bankrupt Venezuela

Tuesday, January 19th 2016 - 06:47 UTC

Full article 8 comments

Bank of America predicted president Nicolas Maduro would merge Venezuela’s three-tier currency controls into two, replacing the strongest rate of 6.3 bolivars to the dollar with a level of 35. Greenbacks go for around 865 bolivars on the black market. Read full article

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ChrisR
Well, we knew this was coming and now it is here.

MADuro will be blaming everybody else except the dead Chubby Chavez who gave away oil to Cuba and in return they killed him with their medical incompetence. Pretty good result that.

MADuro will more than likely end up dead by his own hand, ala Nisman.
Jan 19th, 2016 - 01:44 pm - Link - Report abuse 0
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Jack Bauer
@1 ChrisR
While MADuro ending up dead by his own hand, sounds like a great idea, I think that Nisman deserves more credit than that........the suicide theory doesn't hold water. Assassination does.
Jan 19th, 2016 - 08:33 pm - Link - Report abuse 0
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ilsen
I warned that change would be hugely difficult, we are only seeing the beginning of very messy struggle.
Although I am very glad of the recent election results, I await with trepidation for future outcomes.
There is a some reason to be cheerful, but a true reckoning is coming.

I still do not have reason to feel positive about the future of Venezuela, but there is now a glimmer of Hope.
Jan 20th, 2016 - 02:10 am - Link - Report abuse 0
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yankeeboy
V must sell their gold reserves to buy food for the masses.

This is the best outcome anyone could have hoped for and hopefully a fitting end to Collectivism in V.

Its almost time for the military to intervene.
Jan 20th, 2016 - 12:01 pm - Link - Report abuse 0
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ChrisR
@ 2 Jack Bauer

I have always thought from the get-go that Nisman was murdered, the balls up with the GSR proved it without argument for me.

The ala bit was to say MADuro will be 'suicided' by his own people. ;o)
Jan 20th, 2016 - 05:55 pm - Link - Report abuse 0
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Jack Bauer
@5 ChrisR
got it !!!
Jan 20th, 2016 - 06:13 pm - Link - Report abuse 0
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L0B0MAL
I did not understand!

Is this a news or a joke?

A strong devaluation of a currency which is worth NOTHING?
Jan 23rd, 2016 - 11:00 am - Link - Report abuse 0
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ilsen
I could get BSF 800/US$ 1 on the black market, if I chose to do so... I have better credit rating than the BCV....
That pretty much says all you need to know about the current state of the economy in VNZLA.
Jan 24th, 2016 - 03:05 am - Link - Report abuse 0
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