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Venezuela Launches First Nuke In Currency Wars, Devalues Currency By 46%

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posted on Feb, 9 2013 @ 04:44 PM
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South America Goes Critical: Now Chavez Devalues Currency: “This May Well Be the Lighting of the Proverbial Fuse… Everywhere.”


While the rest of the developed world is scrambling here and there, politely prodding its central bankers to destroy their relative currencies, all the while naming said devaluation assorted names, "quantitative easing" being the most popular, here comes Venezuela and shows the banana republics of the developed world what lobbing a nuclear bomb into a currency war knife fight looks like:

VENEZUELA DEVALUES FROM 4.30 TO 6.30 BOLIVARS
VENEZUELA NEW CURRENCY BODY TO MANAGE DOLLAR INFLOWS
CARACAS CONSUMER PRICES ROSE 3.3% IN JAN.

And that, ladies and gents of Caracas, is how you just lost 46% of your purchasing power, unless of course your fiat was in gold and silver, which just jumped by about 46%. And, in case there is confusion, this is in process, and coming soon to every "developed world" banana republic near you.



www.zerohedge.com...


Now some may say so what - Venezuela is but a small time player in the global market. That is true, but they are an OPEC member, oil prices will be effected. Also, there are hints that other countries in South America are already starting to feel it - Chile and Argentina to be specific (which have started price freezing to try and stop rampant inflation)....and this is just the start of the economic troubles upcoming:

Japan has decided to go full out on the printing presses get out of the decades of economic stagnation....you have growth in China stalling, the US economic recovery (if it should have ever been called that) ground to a halt and Europe weekly crisis events (you getting tired of the circus of we are ok to things aren't looking all that good




posted on Feb, 9 2013 @ 04:51 PM
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This could be the first domino.

We all know the global economy is a sham, a pyramid scheme and is doomed to fail, and that it just needs a single trigger to begin the implosion.

If this is it, things will progress rapidly from this point forward.



posted on Feb, 10 2013 @ 01:22 PM
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I thought this thread might have generated more attention.

This is potentially the first concrete signal that the inevitable global economic implosion has really begun, and is no more just a specter.
edit on 2/10/2013 by CaticusMaximus because: (no reason given)



posted on Feb, 10 2013 @ 01:31 PM
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Including myself here, I think it is because most of us just don't really understand
global economics.



posted on Feb, 10 2013 @ 01:40 PM
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Originally posted by CaticusMaximus
I thought this thread might have generated more attention.

This is potentially the first concrete signal that the inevitable global economic implosion has really begun, and is no more just a specter.
edit on 2/10/2013 by CaticusMaximus because: (no reason given)


It think the reason this hasn't is because this has been going on for years. It is an open secret that several major countries are doing it. They aren't even the only OPEC country doing this.



posted on Feb, 10 2013 @ 03:28 PM
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reply to post by anton74
 


I would think that a devaluation that large would generate attention - especially since it appears to be destabilizing South America.



posted on Feb, 10 2013 @ 03:41 PM
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I can understand why very little interest has been generated ... most folks don't understand how it will affect em
in other countries.

This devaluation in Venezuela will actually drive up profits from the sale of there oil which is traded in US Dollars
... its a very clever move until the US has to devalue its dollar.



posted on Feb, 10 2013 @ 04:12 PM
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reply to post by MidnightTide
 


On the black markets in Venezuela it is science January 2013 on 20 for each USD. While the official exchange did not change in the last three years the black market prices climbed from 5 to 20 science then. The people could feel in Venezuela how the prices where rising and rising.
Fazit the real exchange that apply is the blackmarkets one.



posted on Feb, 10 2013 @ 10:45 PM
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Originally posted by rigel4
Including myself here, I think it is because most of us just don't really understand
global economics.


Well, let's see... we were told Free trade good, unions bad. Fast forward 30 years and our economy in in shambles, but congress doesn't seem to think it's worth spending any time on. The US Government has grown to be 40% of the American economy, and while conservatives are yelling Socialism is taking over America, they forget to mention the real unemployment rate / under employment rate is closing in on 25%. Congress doesn't seem to be concerned about that either.

Seems to me we had it pretty good before business schools began training executives to offshore production lines to increase corporate profits. It worked.... but at what cost? The America of today would have been unrecognizable 30 years ago ... and not in a good way. Those idiots wrecked our country.

That's all I need to understand of Global economics.



posted on Feb, 10 2013 @ 11:54 PM
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In Rome, under the empire, when the Roman army was underperforming, they would have a "decimation". Every tenth man would be beaten to death by the others.

If the US were Rome and had an emperor who knew what he was doing, every tenth corporate board member in America's big banks would have been beaten to death by the other board members, on imperial orders, based on money laundering, unsecured mortgages, LIBOR, etc.

America is the victim of the "uppity class". These are the people who want to be on the top rung of American society in terms of wealth and are breaking the law to get there. These are the people who would be decimated, if America were Imperial Rome and had an Emperor with the "right stuff".

When the "uppity class" starts breaking the law and when the administration of justice lets them get away with it . . . you've got serious trouble. America has serious trouble.



posted on Feb, 11 2013 @ 12:03 AM
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reply to post by MidnightTide
 


I am starting to sound like a broken record player but this truth is so simple to see......Progressives are in the final stages of consolidating power across the entire globe.


They will crash every economy one by one and then the people or should I say SHEEP will beg and cry for real change. And then guess what happens next they will give us the change.



They will cause the problem and then enact the solution. We are all screwed. People need to wake up and fast to what a progressive really is.



posted on Feb, 11 2013 @ 01:11 AM
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No way, oh snap!

So it is happening and gonna happen, the next big crash. Seems like there was insider knowledge with that 11 million bet that the stock market is going to crash at the end of April.

Not cool, not cool at all...invest in gold and silver now...



posted on Feb, 11 2013 @ 01:17 AM
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judging from the graph in the article they did something similar in 2009



but it looks as if they did it by 100%...... didnt seem to shake the world dry then...

still i dont understand this enough to comment... but, markets dont seem to be reacting?
edit on 11-2-2013 by Agit8dChop because: (no reason given)



posted on Feb, 11 2013 @ 01:31 AM
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reply to post by Agit8dChop
 

I don't understand it either. But look at it like this...

Theres a dam that is weakened by decades of disrepair and a bunch of people running all over it to prevent little leaks from growing into big ones. Every time a leak springs forth a bunch of people clamber all on it and shore it up with sand bags and tractors. If a leak were to go unchecked it might grow and grow until suddenly the whole face of the dam gives way and the reservoir empties itself, drowning everyone down stream.

With the worlds economy so intertwined as never before, leaks are forming all over the dam all the time. And like Keystone cops those behind the "scene" run maintenance drills to keep the whole dam from breaking loose. One day it will rain a little hard and the whole rotten structure will just collapse under its own weight.

Until then they will keep patching "it" up, claiming that everyone and everything down stream is safe.






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