Originally posted by Crom Valen
Turkey's flogging off surplus food to Venezuela in return for gold produced by garimpeiros.
Ok, so Gold being used as money then. Venezuela buying food with Gold.
Always with the 'but, but, but' aye Skol. Just admit that Gold is being used to purchase food please, and leave the rest of your spin at the door.
(Gold still not showing any signs of a drop to USD 800 an oz aye. That must sting).
Gold's not $10,000 either like your heros Schiff, Rickards, and Sinclair keep telling you.
Guess who's closer?
Venezuela is buying food with gold, paying the garimpeiros with worthless Bolivars and buying surplus food from Turkey. When inflation is expected to hit 10,000,000% no one's going to take a credit card or worthless Bolivars.They'd take USD's, but Venezuela doesn't have any.