Manuel Hinds: Dollarization the Escape Plan for Venezuela

Hinds maintains that Venezuela’s currency-exchange crisis is largely due to the manipulation of the country’s national currency, the bolívar, through money printing and artificial interest rates set by the central bank. “Why would [Nicolás] Maduro want US dollars if he has the wonderful ability to create bolívares fuertes at will?” he questioned in an article written about President Maduro’s tour around the world seeking financial aid. “The obvious answer is because no one accepts them in exchange for goods, unless you live in Venezuela and the government forces you to use them.” More…