07 June 2012

VENEZUELA : Inflation Beats Down Bolivar; Candidate Capriles Resigns Governorship, Condemns Polls.


      Argentina isn't the only LatAm nation where everyone is clamoring for the $USD.
      In Caracas...the so called 'Benjamin' index recently hit a new high...9.27 bolivars per usd.
      Named for the historic luminary on the $100 USA bill...Benjamin Franklin...the official exchange rate is 4.3 per usd....and has done nothing but sink since May 2010.
      With annual inflation of 20% or more...and a steadily sinking oil price...citizens are desperate to hold usds.
      AND: Opposition candidate Henrique Capriles Radonski resigned as governor of Miranda state...to campaign full time for the October presidential contest.
       Capriles trails Chavez by 15-19% in most polls...but has dismissed new polling as the manipulative work of 'immoral mafiosos.'