By devaluing the Bolivar, the president of Venezuela has artificially decreased the value of the national currency.
What this does it make it more expensive to buy US dollars. In the last 2-3 years, there has been a flight of billion of US dollars out of Venezuela due to the economic disaster looming in the country.
By making it more expensive to buy US Dollars, the President of Venezuela is hoping to decrease the flight of money from the country and protect local reserves.
To what extent this actually works, we will have to see. In many developed countries or countries with a healthy economy, such a strategy might work. However, in the case of Venezuela, the economy is so bad, that even the devaluation of the Bolivar might not help solve much.
<span>The government cannot survive if citizens do not accept results of an election.</span>
<span>The colonists were
angered by the Tea act in 1773. because most of them, who legally or illegally imported tea, were about to lose
their business over British East India Company’s monopoly. They have opposed to
the Tea act and in the protest colonists boarded on British cargo ships and
dumping the tea in the water, which is why this occurrence is named Boston tea
party. </span>
