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A picture is worth 10,000 words: The graph above shows the growth of the monetary liquidity (M2) in pink during 2006 (up 48%) and compares it with international reserves. (up 14.8%). This is good old fashioned irresponsible money printing at its best, unless oil shoots up, this means a devaluation is coming and could be bad.
The Devil's Excrement
Observations focused on the problems of an underdeveloped country, Venezuela, with some serendipity about the world (orchids, techs, science, investments, politics) at large. A famous Venezuelan, Juan Pablo Perez Alfonzo, referred to oil as the devil's excrement. For countries, easy wealth appears indeed to be the sure path to failure. Venezuela might be a clear example of that.
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The Devil's Excrement 
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