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Venezuela is an excellent example of a government unable to issue money arbitrarily, because they pegged their currency to the US dollar and accumulated debt in
by flamble 6y ago
Venezuela is an excellent example of a government unable to issue money arbitrarily, because they pegged their currency to the US dollar and accumulated debt in a currency over which they had no control.
- madacol 6y agoAFAIK Venezuela has never pegged the bolivar to the US dollar. But the government did issue bonds in US dollars, I suppose those are the debts that you are talking about