Financial Times/Gideon Long/11-25-2019
“Despite two decades of anti-US rhetoric from Venezuela’s ruling socialist party and concerted efforts to move the economy’s axis away from the US and towards China and Russia, the dollar is increasingly part of the fabric of Venezuelan life.”
USAGOLD note: Gold is a popular holding as well, and with the inflation rate running at 39,113.80% annuallized (according to TradingEconomics), it is not difficult to understand why. As the chart shows, Venezuela should count its lucky stars. The current inflation rate is down from 350,555% in February.
Chart courtesy of TradingEconomics.com
