From our friend Werner. Classic hyperinflation in Venezuela. Stocks to the moon in local currency but flushed down the toilet in terms of gold…
The purchasing power of the currency is plunging, collapsing
From the end of August 2018 until now, the Bursatil Stock index has appreciated by 89,638% (this is 89 thousands 638%, not 89.6%) in Bolivar soberano terms.
But in US dollar terms, stocks lost 71% of their value.
During the same period, Gold has appreciated by 444,377% (444 thousands 377%) in Bolivar terms. AMAZING!