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Global Economy
If a currency can't be converted on demand into the underlying commodity, it's not "backed" by that commodity.
Money and BanksMoney and Banking
Global EconomyMoney and BanksMoney and Banking
War and Foreign PolicyInterventionismPolitical Theory
Corporate WelfareThe Police State
By the 1970s, the Venezuelan economy was in deep trouble. The half-hearted reforms that followed, paved the way for the rise of Hugo Chávez.
Global EconomyPrivate Property
Global EconomyPolitical Theory
With gold reserves shrinking, and a collapsing currency, it is only a matter of time until Venezuela defaults on its foreign debt
