The New York Times really really wants you to believe that Venezuela’s currency policy is a one-trick pony. Today’s editorial is especially stupid coming the day after the details of PDVSA’s bond deal—you know, the actual plan to reduce inflation—was announced. But if they’d acknowledged that, they’d have had to scrap their whole hardy-har “Coin of the Realm” headline, which was a priority.
Oh, and by the way the value of the bolivar is “surging” today. Up 10 percent. Which totally undermines the whole point of the NYT editorial. Can’t wait to read their courtly correction.
