Saturday, November 26, 2011

Venezuela and the gold standard

AS the United States, the premiere capitalist nation, continues to print worthless paper money, one non-capitalist nation seems to really understand the value of a stable currency-Venezuela.

The BBC is reporting:

Venezuela has received its first shipment of gold bars, after President Hugo Chavez ordered the repatriation of 85% of the country's bullion reserves.

While the U.S. continues to fuel inflation by printing money that is increasingly worth less and less and the Euro is teetering on the brink of collapse, Venezuela's currency may end up being the most stable currency in the world.

Watch for some trumped up military action to put an end to this!

1 comments:

Nerd said...

Behind the Ruble, Yuan and maybe the Swiss Franc and South African Rand. The Yen is strong too, mainly because no one wants them.