LATEST NEWS : Venezuelans turn to bitcoins to bypass socialist currency controls

Tech-savvy Venezuelans looking to bypass dysfunctional economic controls are turning to the bitcoin virtual currency to obtain dollars, make Internet purchases — and launch a little subversion. Two New York-based Venezuelan brothers hope this week to start trading on the first bitcoin exchange in the socialist-run country, which already has at least several hundred bitcoin […]

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LATEST NEWS : Recession looms over Venezuela, official data under wraps

Venezuela has kept its economic growth figures under wraps this year but empty store shelves, closed factory gates and idled construction projects tell their own story – the economy is contracting and some sectors are in deep trouble. continue reading at reuters.com

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Venezuela Currency Devaluation Currency Crisis Ahead?

Venezuela’s economy is in dire straights. Its productivity has plummeted, its debt has skyrocketed, its currency is the weakest it has ever been as far as available data shows. And it’s about to take another hit in March of next year in an emergency effort to bring runaway inflation under control and draw foreign investment […]

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World Bank Sees Record Demand for Political Risk Insurance

Investors’ demand for insurance against political risk is on track to match last year’s record as instability persists in the Middle East and disputes in Latin America erode confidence, the World Bank said. Investment insurance for developing economies by a group of the main public, private and multilateral providers reached $45 billion by mid-2013, according to the bank’s Multilateral Investment Guarantee […]

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What Is Goldman Sachs Doing With Venezuela's Gold?

A while back Greece had a problem. The problem was that it wanted to borrow more money, but didn’t want to increase its debt. (Because the European Union would frown on it having more debt.) So it went to Goldman Sachs, and Goldman told Greece, well, what you can do is borrow some money from […]

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