Venezuela and Argentina down the drain?

Maybe you guys have seen this at the news, but if not, here is a summary of what happened during last two weeks:

-Venezuela devaluated their coin by 85% (except for Government interests). They say it is a readjustment of their exchange policies, but we know totalitarian governments which control the open media always try to deceive the truth beneath a layer of technical terms.

-Argentina, 90% devaluation of their Peso in 17 days. The President was absent from public during the whole period, and now she re-appears and totally redirects the focus of her speech to how the press said she hid.

I feel grief for both countries, as here in Mexico we went through similar political stupidity during 1992 when our Peso devaluated 120%, and I knew Venezuela would eventually had to go through the same, but wasn't expecting Argentina.

So, if you collect currency and most importantly bank notes, you should take this into consideration, as the catalogs won't consider this until their next editions and now this money is worth only half of it was before.

Thank for the infor. Erdvilla - that is very sad. I was in Arizona when Mexico had to do it. It makes it hard for the people. I am very surprised about Argentina.
                        yours daryl

I guess that's part of the reason the DOW dropped today.

Quote: redsmithstudiosI guess that's part of the reason the DOW dropped today.

Not just DOW J; China and most Asia also trembled today. And Turkey and South Africa also experienced minor devaluations today (5-10%).

Main reason Asia got an aftershock wasn't directly related to Argentina and Venezuela, but to their private banking Vs State banking government taxation and subsidies to artificially re-price their coin in order to acquire foreign currency and then de-price it to the original value after buying out what they need. Something the IMF has been calling out as plain fraud, but China gives a sh*t, because they shield themselves behind Socialism, when they are now more Capitalist than Socialist economy, but I guess they just label themselves whatever gives them the more profit at the moment.

Quote: erdvillaMain reason Asia got an aftershock wasn't directly related to Argentina and Venezuela, but to their private banking Vs State banking government taxation and subsidies to artificially re-price their coin in order to acquire foreign currency and then de-price it to the original value after buying out what they need. Something the IMF has been calling out as plain fraud, but China gives a sh*t, because they shield themselves behind Socialism, when they are now more Capitalist than Socialist economy, but I guess they just label themselves whatever gives them the more profit at the moment.

 Yep, That's what's going on, world economics are so linked that if China has problems the US economy will DROP, and the Euro would follow. but some how it seems to peter on.