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grandstar:


I have been a watcher of the Venezuelan economy since the oil crash of 1986 and I can tell you straight away that you score an F in what you just said.

This is a managed float while the Venezuelan peso is pegged at the daftest rate in the world , a lot worse than the 197 the naira was previously pegged to compared to the black market rate.

. It Is Only Human To Become Enmeshed With The Details And Lose Sight Of The Overall Picture. I Would Urge U To Forget The Textbook Grammar Used By Armchair Economists And Look At The Real Picture.Both Countries Are Developing Economies .Both Are Oil Producing With The Attendant Corruption Issues. Check The Crime Level; They Are Similar If U Factor The Ease At Which U Can Purchase Guns In Each Country.I Am Sure U Know Banks Have Been Retrenching. Guess What A Banker Who Suspects He Might Be Laid Off Anytime Soon Would Do? And He Happens To Work In The Forex Unit?In A Country With Weak Enforcement Of Laws?Just Watch!

The Present CBN Forex Policy Is A Clone Of The Venesuelan Model. The Result Is Already Predermined: Bankers And Their Proxies Are Going To Become Stupendiously Rich.

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