by Jeff Berwick
Dollar Vigilante
Is a US website causing the collapse of the Venezuelan economy? Of course not, that’s impossible. But, that’s what Venezuela’s Central Bank seems to want to prove as it pursues legal action to prove as it pursues legal action to shutdown dolartoday.com. The U.S. District Court of Delaware, where the complaint was filed, dismissed the initial claim last week. But Venezuela will file an amended complaint.
Venezuela is a terrible mess and is obviously looking for targets to blame. According to the Venezuelan central bank, the dolartoday.com website has pushed up the country’s triple-digit inflation lying about exchange-rate data to make the situation seem even worse than it is. Only a central bank could blame a website for monetary and price inflation that would not exist without central bank printing presses.