Hello Reddit,
So I have this small investment idea and I thought I’d take your opinion on it before I do anything stupid.
So my question is would it be a good idea to buy $500 USD worth of Venezuelan Bolivar (that’s about 40,000,000 VEF) now that the country is going through a hyperinflation as a form of long term investment? Just for reference, I’m a foreigner and not a Venezuelan national.
Please hear me out I’ll try to explain why I’m doing that and at the end I’d love to hear your opinion. I personally believe that the hyperinflation happening in Venezuela will end sooner or later since Venezuela seems to have a lot of natural resources that they can put to use. As an example, Venezuela is said to have the highest amount of oil reserves that there is, even higher than the oil rich Saudi Arabia.
So what if I exchanged $500 USD to VEF and completely forgot about it for however it would take for the economy to stabilize snd start entering in a bit of a recession. $500 USD isn’t that big of an amount of money and so I understand that this is a fairly low risk investment since I’m not putting in a lot of money. However, this investment might prove to be quite profitable if the economy in Venezuela turns around which I believe will happen.
I’ve done a bit of research on this matter and I saw a few people comparing the situation Venezuela in to that of Iraq or that of the hyperinflation that happened in Zimbabwe. However, I believe that the case in Venezuela is quite different as the country is quite famous for its oil reserves which I deeply believe will one day or another will improve the economy. While Iraq is famous for Gravel and Sandstone while Zimbabwe is famous for Chromite. All of these resources are still not as valuable as oil.
I’m 19 years of age with no investment experience at all, and I’m hoping to invest the little money I have in my savings account as something for long term or maybe even retirement, or perhaps for my future children if it takes that long. I’d love it if we could start a discussion and if you think that this isn’t good idea please let me know why.
Thank you reddit!
Submitted July 14, 2018 at 05:45AM by WereListening https://ift.tt/2LlabLS
