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Tracking down the Benjamins

For the second week in a row, Fusion’s Manuel Rueda has published an eye-catching piece on Venezuela. In this one, he tracks down the owner of DolarToday, the website that tracks the unofficial exchange rate between the Venezuelan BsF and the greenback. The website has become a thorn on the side of the Maduro administration.…

chalmette

The election needs to be bought

It’s distressing to think about the Venezuelan government’s latest financial moves. Not for what the moves entail, necessarily, but because of the obvious reason that is driving them. First, the government announces it is tapping IMF holdings, about $389 million it held in its “Special Drawing Rights.” Then, they announced a new “agreement” (i.e. loan) with…

Cauchos1

Chavismo on wheels

In early April, a close relative of mine was looking everywhere for new tires. He hasn’t found anything yet. At least he isn’t the only one caught in this pickle. Car tires are part of the long, long list of stuff that is currently lacking in this country. People are doing the impossible to find them. Some…

Bolívares-Dólares

Will the dollar stop rising any time soon?

On Thursday afternoon, Venezuelans found out how their foreign purchasing power evaporated – quite literally – by the minute, as the US dollar surpassed the 400 bolívares (BsF) mark. This was according to the “coup-plotters/saboteurs” from “Dolar today,” the most widely used web page for Venezuela’s black market exchange rate. Other web pages, such as Lechuga verde or Aguacate verde,…

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DING! DING! DING!

I was writing a post on how screwed we were since the black market rate of the Dollar crossed the 300 Bolivar threshold a couple of days ago. Never mind. Just deleted the whole thing. This tragedy is self explanatory.  Translation: According to DolarToday the black market rate just hit 402 Bolivars per 1 US…