As I said last Thursday, the majority of foreign central banks continue to hike lending rates this year amid surging inflation.

“Venezuela, one of Latin America’s most populist countries has a very high inflation rate, control on market prices and shortages. This seems to be a constant practice for countries with this type of regime, and even more so in this region where governments define this practice as “redistribution of wealth”. It seems like the only thing that they distribute is inflation,” says Paola Pecora.

Brazilian government bonds are hot right now. Latin America is the fastest growing emerging region, making Brazil’s currency, the real, perfect for multi currency diversification.

A must read for investors seeking to take advantage of the Brazil’s growth is Gary Scott’s article: Why I Like Brazilian Bonds.

This from Gary: “You can borrow US dollars to make multi currency investments from Jyske Bank at rates a bit above and below 4.5% depending on the amount borrowed.

Multi currency investments can reap rich rewards right now. Take, for example, this multi currency Brazilian investment. The recent drop in U.S. dollar interest rates means you can now borrow dollars at between 4.175% and 4.875%.

“Being rich is bad,” declares Venezuela’s president. But someone’s forgotten to tell his people. Because this place isn’t some dour socialist paradise… you can see the money everywhere!

Concerns about the U.S. economic slowdown are starting to blunt some of the optimism surrounding Latin American economies.

As long as Pelosi has control of the big chair in the House, you might as well hang up your goal of becoming a rich businessman.