jj, when your exports are falling quickly, doubling your prices will not increase sales imo.....this latest move will only further isolate venezuela.

imo the simple issue is that no one wants to do business with hugo anymore...this was just a political act to beef up the coffers before the september elections...for the immediate future venezuela will recieve a windfall from the new exchange rates...but it wont last long as the few remaining customers flee......china and russia will be stuck hard because they basically pre-paid for the resources and will now be recieving half of what they thought they'd get...

china recently shelled out billions to secure oil/steel from venezuela....the first steel deliveries will most likely not meet the amounts agreed upon due to the decreased production in venezuela. on top of that the new exchange rates will effectively double the negotiated prices...my guess is that china will not be happy about this...

imo, the only thing (other than a miracle deal/arbitration) that will increase our PPS is a quick change of government....