How do you trade Gold in Venezuela

That's a good idea though. How do you make money in a hyperinflated currency. Looks like Bolivar will hyperinflate again.
 
lasner said:
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.
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THEY may have made it buying gold. Dont know.
Average USa RE went in in 1970's also. Double checked the chart.
But Jim Rogers noted his profits selling short gold. [Jack Schwager interview] .
But gold is such a long term underperformer, I could see some traders profit, if so inclined :caution::caution:
 
murray t turtle said:
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THEY may have made it buying gold. Dont know.
Average USa RE went in in 1970's also. Double checked the chart.
But Jim Rogers noted his profits selling short gold. [Jack Schwager interview] .
But gold is such a long term underperformer, I could see some traders profit, if so inclined :caution::caution:
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I'm sure they got insider information. Their fund made a 4,500% return in 10 years when the DOW only returned 50% in that same time frame. So I'm sure they were probably buying gold and selling it. Probably made money on the way up and down. Again, intel helps. In regards to the Bolivar I looked at inflation and it wasn't equal to the move in Gold. Inflation was about 350,000 percent and gold made a move of 3.1 million percent. Inflation is here - https://tradingeconomics.com/venezuela/inflation-cpi Gold in venezuela moved again to about 4.2 billion percent in 2021 and it didn't look like inflation was raging at that time. Not sure what happened. Somebody made money I'm sure
 
lasner said:
I'm sure they got insider information. Their fund made a 4,500% return in 10 years when the DOW only returned 50% in that same time frame. So I'm sure they were probably buying gold and selling it. Probably made money on the way up and down. Again, intel helps. In regards to the Bolivar I looked at inflation and it wasn't equal to the move in Gold. Inflation was about 350,000 percent and gold made a move of 3.1 million percent. Inflation is here - https://tradingeconomics.com/venezuela/inflation-cpi Gold in venezuela moved again to about 4.2 billion percent in 2021 and it didn't look like inflation was raging at that time. Not sure what happened. Somebody made money I'm sure
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On second thought, most anything[gold, silver, copper, beans , brass .....] would be better than that commie currency.
Sometimes best not to name names , some Asian gold dealers did not want local currency LOL; but would trade gold for US$.
All THESE comments are sure NOT timing signals; but I remember Jim Rogers liked US$, admitted it was a flawed currency+ later MSFT.
Local metals dealer has a price for gold + silver;
but the one that has best bid\ask has a price page full of metals + no gold silver.
I gave away, after years, his book '' Hot Co......'' and later checked out that exact copy from the library I gave it to LOL:D:D
 
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