Take physic, pomp

Chart of the day is………..

………..Venezuela’s stock market index.

The lines go up, the lines go down. But the important thing to note is that the volumes for the IBC index have shrunk to virtually nothing in the last year or so (see notes at bottom of chart). This is something at least one prominent journalist who reads this blog will remember me as saying back in 2007. The reason can be summed up in five words:

Fixed currencies kill stock markets.

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