Preppers Cookbook
Xenogenesis
The Prepper's Blueprint
The Prepper's Blueprint
Preps and Solutions
(Sponsored Ads)
Strategic Relocation
Surviving Collapse
US Deception
Bulletproof Home Defense
top Prepper Web Sites
Recently Posted Articles and Videos
The Daily Sheeple
Ready Nutrition - Homesteading and Preparedness
The Prepper Website
SGT Report
Featured Destinations
The Liberty Mill
Web Destinations
  • * Infowars *
  • * Jeff Rense *
  • * Prepper Website *
  • * Ready Nutrition *
  • * SGT Report *
  • * Stan Deyo *
  • * Steve Quayle *
  • * Survival Blog *
  • * The Daily Sheeple *
  • * The Organic Prepper *
  • * Wide Awake News *
  • 321Gold
  • Activist Post
  • All American Gold
  • Alt Market
  • American Preppers Network
  • Amerisafe Neighbor Network
  • Ammo For Sale
  • Apartment Prepper
  • Armageddon Online
  • Backdoor Survival
  • Bearish News
  • Beer Budget Survival
  • Berkey Guy Blog
  • Beyond Collapse
  • Black Listed News
  • Blue Collar Prepper
  • Calculated Risk
  • Chris Martenson
  • Code Green Prep
  • Collapse Medicine
  • Collapse Net
  • Countdown to Collapse
  • Daily Crux
  • Deadline Live
  • Doc Medina – Soapbox
  • Don't Tread on Me
  • Doom & Bloom Survival Medicine
  • Doomsday Prepping
  • Education After the Collapse
  • Enemies Foreign & Domestic
  • Eric Peters Politics
  • Family Survival Plan
  • FloJak
  • Fraudonomics
  • From the Blind
  • From the Trenches
  • Front Line of Defense
  • Full Spectrum Dominance
  • Government Is a Joke
  • Homestead Revival
  • International Forecaster
  • Jack Blood
  • Jeff Rense
  • Joe For America
  • King World News
  • Lew Rockwell
  • Liberty Blitzkrieg
  • Liberty Mill
  • Market Ticker
  • Max Velocity Tactical
  • Mish – Economic Trends
  • Modern Survival Online
  • Occupy Corporatism
  • Off Grid Survival
  • Oracle Broadcasting
  • Outdoors Native
  • Patriot Net Daily
  • Peak Prosperity
  • Pioneer Living
  • Preparedness Review
  • Prepography
  • Prepper Central
  • Prepper Dashboard
  • Prepper For The Worst
  • Prepper Trader
  • Prepping Blogs
  • Prepping for Hard Times
  • Prepping to Survive
  • Project Chesapeake
  • Rawles' Survival Blog
  • Sherrie Questions All
  • SHTF America
  • SHTF School
  • SHTF Wiki
  • Skeptical Survivalist
  • Sound Money Campaign
  • Sovereign Man
  • Sticker Armory
  • Story Leak
  • Survival and Prosperity
  • Survival Blogs
  • Survival Life
  • Survival Logic
  • Survival Magazine
  • Survival Prepper Joe
  • Survival Pulse
  • Survival Spot
  • Survival Week
  • Survivalist Boards
  • Survivopedia
  • Tactical Intelligence
  • The Burning Platform
  • The Prepared Ninja
  • The Prepper Journal
  • The Prepper Project
  • The Silver Bear Cafe
  • The Survival Mom
  • The Warning Signs
  • TheSurvivalistBlog.net
  • Truth Is Treason
  • Underground Medic
  • United American Freedom Foundation
  • Urban Survival Site
  • Value Investing Pro
  • What Really Happened?
  • Wood Pile Report
  • Yoga Sacramento
  • Zero Hedge

  • Clarocet for Kids
    Surviving Collapse
     

    Venezuelans Scramble to Buy Goods as Chavez Devalues Currency 50%

    Mac Slavo
    January 9th, 2010
    SHTFplan.com
    Comments (2)
    Read by 272 people

    Venezuela’s president Huga Chavez called for a currency devaluation of 50% in an effort to increase exports and aid the ailing economy.

    Via Reuters:

    Venezuelans rushed to the shops on Saturday, fearful of price rises after a currency devaluation that will let President Hugo Chavez boost government spending ahead of an election but feeds opposition charges of economic mismanagement.

    In a bid to jump-start the recession-hit economy of South America’s top oil exporter, Chavez on Friday announced a dual system for the fixed rate bolivar.

    Those sitting in cash when the devaluation hit had 50% of their net worth completely wiped out, as the cost of goods essentially doubled overnight.

    Essential goods like food did not suffer the same fate as non-essential goods, which were hit hardest in the dual-rate devaluation, as reported by Bloomberg News:

    Chavez said the bolivar will be devalued to 4.3 per dollar from 2.15 per dollar for most imports. A second, subsidized peg of 2.60 bolivars per dollar will be used for importing food, medicine and machinery intended to boost the economy’s competitiveness.

    “This is to boost the productive economy, to reduce imports that aren’t strictly necessary and to stimulate exports,” Chavez, 55, said in comments on state television. “We need to stop being a country that only exports oil.”

    An increase in imports at the 4.3 rate may add between 3 percent and 5 percent to the annual inflation rate in 2010, Rodriguez said on state television.

    The government said before the announcement inflation will likely be between 20 percent and 22 percent this year. Inflation ended 2009 at almost 27 percent.

    Could the same thing happen to the US Dollar in the not so distant future?

    Many contrarian experts like Bob Chapman, Marc Faber, Jim Rogers and Gerald Celente believe a currency crisis or devaluation of the US Dollar is inevitable.

    Please Spread The Word And Share This Post
        name:     email:        details

    Author: Mac Slavo
    Views: Read by 272 people
    Date: January 9th, 2010
    Website: www.SHTFplan.com

    Copyright Information: Copyright SHTFplan and Mac Slavo. This content may be freely reproduced in full or in part in digital form with full attribution to the author and a link to www.shtfplan.com. Please contact us for permission to reproduce this content in other media formats.

     

    2 Comments...

    Vote: Click here to vote for SHTF Plan as a Top Prepper Web Site
    1. Check out the Japanese financial minister’s response. He knew several days before the Venezuelan devaluation. The dominoes are getting bigger! If the Yen falls, the dollar  won’t hold.
      Greyson Deitrich III
      Independence News

      Rate This Comment: Thumb up 0 Thumb down 0

    2. Hmmm…. foreshadowing of things to come in this country?

      Rate This Comment: Thumb up 0 Thumb down 0

     
    SHTF Plan - RSS Feed - Preparedness News, Commentary, Resources
    There's an 84% chance you won't remember where you read our unique information. Don't be another statistic.
    email 
    details
    Flojak Hand Water Pump
    Survival Food
    Bulletproof Home Defense
    Auto Survival Kit
    Food Storage
    Advertisement
    Community Discussion - User Comments
    Patriot Dawn

    Web Design and Content Copyright 2007 - 2014 SHTF Plan - When It Hits The Fan, Don't Say We Didn't Warn You - All Rights Reserved

    We Support The Constitution First Amendment Press Association

    Supercharged Intel Xeon5620 on an 8-Core Dedicated Storm Server Powered By Liquid Web

    Dedicated IP Address: 67.43.5.170

    The content on this site is provided as general information only. The ideas expressed on this site are solely the opinions of the author(s) and do not necessarily represent the opinions of sponsors or firms affiliated with the author(s). The author may or may not have a financial interest in any company or advertiser referenced. Any action taken as a result of information, analysis, or advertisement on this site is ultimately the responsibility of the reader.