RE: ADSactly World - Venezuela and the currency exchange control
What’s the point of doing it, if that automatically devalues the curency?”.
As mentioned in the article, the excuse was because rich people were free to take their money to other countries, and since political movements like the one currently ruling in Venezuela are mostly driven by envy, they didn't like rich people doing with their property what they wished, hence the currency exchange control was implemented.
But the real reason, as explained in the article, is that it allows people in the government to multiply their money by buying cheap dollars using the official exchange rate, and then selling it at the black market rate to citizens desperate to escape the high inflation.
But to be worried and uncertain what happens in the next few days is just unimaginable for me doing any business. I say “RUN”.
USA and its stability is like a paradise compared to what happens in Venezuela. You mentioned the inflation in America which is like 2% a year right? Well, 2% is like a boring Monday in Venezuela :)