- Johns Hopkins economist Steve Hanke — the “Money Doctor” — is advising Venezuela and is pushing full U.S. dollar adoption to stop roughly 400% inflation by abandoning the bolivar and the central bank.
- Hanke has pushed similar moves before (Montenegro’s switch to the Deutschemark, Ecuador’s dollarization, and advising dollarization in Zimbabwe), with mixed long-term outcomes.
- Venezuela is already largely “spontaneously dollarized,” so official dollarization could draw big foreign investment and tame inflation — but would also mean giving up monetary sovereignty and the central bank.
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