Bank of America is full of good news these days. First, the financial institution warned of soaring inflation. Then, the bank stated that hyperinflation is coming this summer. Now BofA anticipates stagflation slamming into the financial markets in the second half of 2021. According to Bank of America’s CIO Michael Hartnett, this is what the […]
Archives for July 2021
CURRENCY CRISIS: Socialist Venezuela approves redenomination for third time in 13 years
Why does socialism typically lead to a currency crisis? For the third time in 13 years, the socialist government of Venezuela initiated a currency redenomination. Beginning in August, the central bank will remove six zeros from the bolivar. This is part of the government’s efforts to “simplify daily transactions that hardly fit on a calculator […]