& mutatis mutandis for other BPM. Substitute risks: blackmarket USD, commodities, blat
The question isn't whether I would risk a flutter on VEF (lol no) but how much VEF an actual Venez would risk holdinghttps://twitter.com/KalebPrime/status/936635115479937024 …
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Shitty countries have no liquidity (other than thru consumer credit). You need to balance holding more VEF in wallet (inflation risk) vs. converting more non-VEF into VEF per month
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The VEF is always in someone's wallet (or cash register), that's just how the velocity of money works. You can always decrease holdings
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Think at the margin! - and remember margin goes both ways; i.e. ten yrs ago even mega-anti-Chavez ppl who knew it was a disaster kept VEF in wallet
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