Βιβα λα Ρεβολουθιον :P [...]During 2013-2014, yields on domestic government debt were around 17%, while inflation oscillated in the 55-75% range. Negative ex post real interest rates in the vicinity of 30-60% register on the high end of historical haircuts. The toll of this “taxation” is not confined to bondholders: pensioners, depositors, and anyone else with claims against the government – or who holds a bolívar – is affected.[...]
Posted on: Wed, 15 Oct 2014 07:41:20 +0000
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