things are coming to a head, it looks like the beginnings of hyperinflation to me, so yeah the gold in his position would be very useful. From Wikipedia:
"The government announced on 7 March 2007 that the bolivar would be revalued at a ratio of 1 to 1000 on 1 January 2008 and renamed the bolivar fuerte in an effort to facilitate the ease of transaction and accounting.[6] The new name is literally translated as "strong bolivar",[7][8] but also references an old coin called the Peso fuerte worth 10 Spanish reales.[9]
The name "bolivar fuerte" is only used temporarily to distinguish it from the older currency that is being used along with the bolivar fuerte.[citation needed]
The Central Bank of Venezuela is promoting the new currency with an ad campaign and the slogan: "Una economia fuerte, un bolivar fuerte, un pais fuerte" (lit. "a strong economy, a strong bolivar, a strong country").[6]
Nevertheless, the black market value of the bolivar fuerte has been significantly lower than the fixed exchange rate of 2.15 (in February 2008 it was as high as 7.0 to 1).[2] It is illegal to publish this "parallel exchange rate" in Venezuela.[2]
Some estimations suggest that the government spent more than US$320,000,000 to introduce the new currency.
At 8 January 2010, the value was changed by the government from the fixed exchange rate of 2.15 bolivares fuertes to 2.60 bolivares for some imports (certain foods and healthcare goods) and 4.30 bolivares for other imports like cars, petrochemicals, and electronics.[10]
At 4 January 2011, the fixed exchange rate became 4.30 bolivares for 1.00 USD for both sides of the economy."
http://en.wikipedia.org/wiki/Venezuelan_bol%C3%ADvar
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