Submitted by Charles Hugh-Smith of OfTwoMinds blog,
There are a number of reasons why adopting the USD is a natural choice for any Venezuelan government that is not bent on self-destruction.
Let's start our analysis of Venezuela's economic plight with two exhibits: Exhibit A is a chart of the market (free) exchange rate of the Venezuelan Bolivar and the U.S. dollar (USD), and Exhibit B is a chart of the USD.
Submitted by Tho Bishop via The Mises Institute,
Venezuela is in a state of complete crisis. The country has been forced to face the horrors of hyperinflation, food shortages, and devastating depression. In spite of having the world’s largest oil reserves, the country has had to resort to rationing electricity. A horrifying article by the New York Times depicts the state of Venezuelan hospitals, with children dying by the day due to a lack of medicine and basic supplies.
Submitted by Jeff Thomas via InternationalMan.com,
Last weekend, during our latest reporting on the whirlwind collapse in Venezuela's economy and society, we reported that as part of Maduro's latest set of emergency decrees as part of which he ordered a 60-day state of emergency due to what he called plots from Venezuela and the United States to subvert him, we also previewed something more troubling: "he hinted that a violent crackdown on enemies, both foreign and domestic, may be imminent when he ordered military exercises for next weekend."
Submitted by Daniel Fernandez Mendez via The Mises Institute,