Venezuela announces currency devaluation

AP via yahooooo ^ | 2-8-13 | FABIOLA SANCHEZ

[dynachrome]

It was the first devaluation to be announced by Chavez's government since 2010, and it brought down the official value of the bolivar by 46.5 percent against the dollar. By boosting the bolivar value of Venezuela's dollar-denominated oil sales, the change is expected to help alleviate a difficult budget outlook for the government, which has turned increasingly to borrowing to meet its spending obligations.

[dynachrome]

Socialism works!/s

[pingman]

“OPM” is running out, as predicted. Obama thinks ol’ Hugo is brilliant. Plan accordingly.

[lurk]

Collectivism, turning poor people into millionaires, just by adding zeroes to the money.

[dynachrome]

I’m a million reichsbanknote-aire. 1923 weimar republic note.

[tet68]

Save your confederate money HUGO, the south
will rise again.

[dynachrome]

I paid 75 cents for this. Probably the equivalent of a 10 billion dollar note at the time: