Devaluation Nations – Part Deux: Venezuela, Japan, Argentina, USA and Green Lettuce

Confounded Interest ^ | 02/13/2013 | Anthony B. Sanders

[whitedog57]

There is a Green Lettuce revolt in Venezuela. Green lettuce is a slang term for the US Dollar and is discouraged by the Venezuela government.

Feb. 13 (Bloomberg) — Venezuela’s bolivar plunged to a record low in unregulated trading after last week’s devaluation of the official rate failed to increase the supply of dollars.

The currency weakened 10 percent to 22.36 bolivars per dollar today, according to Lechugaverde.com, a website that tracks the country’s currency in the black market.

The bolivar has declined 18 percent in unregulated trading since President Hugo Chavez, who is recovering from cancer surgery in Cuba, ordered officials on Feb. 8 to devalue the official exchange rate by 32 percent to 6.3 bolivars per dollar. The bolivar’s slide in the unofficial market shows Venezuelan importers fear further restrictions in dollar supply after the government said it was scrapping a currency market administered by the central bank known as Sitme.

Oh those pesky free markets.

But Venezuela isn’t the only devaluation nation. Argentina has been devaluing their currency for some time.

Japan has recently been on a devaluation binge too.

Of course, the USA (the largest economy in the world) has increased its money supply by 44% since the Great Recession.

And, of course, VELOCITY of MZM Money Stock has fallen.

Feel confident about the government’s ability to manage the world’s largest economy?

Feb. 13 (Bloomberg) — The asteroid that will hurtle past Earth this week at eight times the speed of a bullet is being viewed by a group of former astronauts as more than a celestial curiosity. It’s a warning shot from the heavens.

The asteroid, DA14, was discovered by a Spanish dental surgeon and space enthusiast using a high-end camera. The rock will pass within 17,000 miles (27,300 kilometers) of Earth on Feb. 15, closer than the moon and many orbiting satellites. It is half the size of a U.S. football field and represents the closest recorded approach of an object of its size.

You mean all of our NASA scientists and astronomers at universities missed it but a Spanish dental surgeon and space enthusiast found it??? In his spare time???

[whitedog57]

Oy vey! Read the last lines about the meteor. Hilarious but true.

[Graewoulf]

” - - - the USA (the largest economy in the world) has increased its money supply by 44% since the Great Recession. - - - “

I assume that the author meant “- - - since the Great Recession BEGAN.”

[Graewoulf]

” - - - the USA (the largest economy in the world) has increased its money supply by 44% since the Great Recession. - - - “

I assume that the author meant “- - - since the Great Recession BEGAN.”

[Robert357]

One of the more amazing things I found in a trip to Nicaragua a couple years ago was how the ATM cash machines at the banks allowed you to take money out either in US Dollars or in the local currency. As amazing was how even in the cheap town markets everyone knew the exchange rate and took US dollars for products.

US currency in Central and parts of South America is considered more reliable and solid than that of the local country's government. Actually for good reason. I can see why the “people” want their savings to mean something rather than the promise of the local dictator and his/her puppet government.

[GOPJ]

You mean all of our NASA scientists and astronomers at universities missed it but a Spanish dental surgeon and space enthusiast found it??? In his spare time???

NASA's not worth crap - it's political... NASA coasts on wings of giants who came before them...

NASA was likely too busy mapping out global warming strategy based on unicorn sightings. They were busy. And they're consumed with showcasing advanced Muslim contributions to space travel based on magic carpet flying techniques... What can I say?

[Graewoulf]

The Obamanator re-named NASA: New Age Socialist Amerika.