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Global EconomyMoney and BanksMoney and Banking
The future of Venezuela is grim. International reserves will be depleted, monetary expansion will not pay the deficit, and inflation will continue.
As planned by Chavez, barter is indeed replacing currency transactions throughout the economy but with hardly the results the late socialist envisioned.
Money and Banks
In this 40-minute presentation, Nomi Prins explains the cronyism and secret dealings of central banks.
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
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.