How do you trade Gold in Venezuela

[lasner]

Gold in Venezuela went up 3.1 million percent in 2018 - https://www.forbes.com/sites/greats...-gold-in-venezuela-right-now/?sh=589f7b625fd2



It just recently went up 4.2 billion percent in 2022. Look at this chart, just scroll down to the chart and click on ALL on the chart and you can see how high gold went - https://www.goldrate24.com/gold-prices/south-america/venezuela/ Gold went from $18,124 Bolivars to $386,378,609,922,867 Bolivars from July 12, 2023 to July 19, 2023 for a 4.2 billion percent return in one week???!!! Somebody is getting rich.



Gold just crashed back down but it might go up again. They are calling for hyperinflation again - https://www.reuters.com/world/ameri...tening-risk-return-hyperinflation-2023-01-05/



This is what they did in America in the 1970s. Look at the charts I have attached. They flatlined the Dow Jones with inflation in the 1970s and brought the price of the DOW back to a 1915 price with inflation, just look at the inflation adjusted chart. Then in 1980 they shot Gold to $660 an ounce from $25 and the super rich got really super rich and the poor middle class lost their money in that decade.



They can’t do that in the U.S. anymore, so it looks like they are doing it in Venezuela times a million.



The question is how do you trade gold in Venezuela??!! Is there a way

 

[2rosy]

I think you're looking at it backwards. Gold didn't move; the bolivar devalued. As for US, that's when $ was taken off gold standard and devalued.

 

[lasner]

Right same thing just way more extreme. George Soros made all the money buying Gold

 

[lasner]

They devalued both currencies by Gold moving

 

[lasner]

The question is, how do you cash in on Bolivar devaluing again...hmmm... maybe through the currency, not through gold

 

[mikeriley]

Right same thing just way more extreme. George Soros made all the money buying Gold

I've read several books on George Soros, all of which
detail most of his money was made through currency
trading by short selling the British pound.

Can you show me where he made money buying gold?
I would love to read the details.

Thanks in advance.

 

[lasner]

In his first fund he did. That is all they bought, was commodity and gold. Him and Jim Rogers. They also sold options against the DOW. The DOW did not move. Gold moved. Money was made in Gold and commodity

 

[lasner]

Look at the chart of Gold, that is where money was made. You could probably make on the currency as well.

 

[2rosy]

The question is, how do you cash in on Bolivar devaluing again...hmmm... maybe through the currency, not through gold

Sell the bolivar. Borrow in bolivar. This thread really has nothing to do with gold. And people didn't get rich when the currency devalues; their $ base just changed. That's why their are so many billionaires now and entry level jobs are 6 figures

 

[lasner]

Sell the bolivar. Borrow in bolivar. This thread really has nothing to do with gold. And people didn't get rich when the currency devalues; their $ base just changed. That's why their are so many billionaires now and entry level jobs are 6 figures

Gotcha, so the price of gold just increased in Bolivar as well as everything else. Unlike the U.S. in the 1970s the price of gold did increase compared to the DOW. The DOW flatlined but Gold went through the roof, hence, stagflation. It looks Venezuela is a little bit different no stagflation but just hyperinflation. In the U.S. in the 1970s commodity prices increased along with Gold but not the DOW or real estate. Hmmm, how to make money in just pure hyperinflation?? Maybe currency, to your point sell the bolivar.