currency crisis

Commentary
4:46 pm
Fri February 7, 2014

Can Venezuela's U.S. Dollar Restriction Keep $1 Billion Out Of Florida?

Trading U.S. dollars for Venezuelan bolívares
Credit venezuelaanalysis.com

What do you do when your country’s foreign reserves are dropping at a rate that would make avid bungee jumpers nauseous? If you’re left-wing Venezuelan President Nicolás Maduro, you take strong, decisive macroeconomic action.

You withhold dollars from Mickey Mouse.

Yessir, you discourage your countrymen from traveling to Florida, by further restricting the amount of dollars they can spend there with their bank credit cards – from $2,500 to $700.

Read more