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Colombia slowly but surely on the road to hyperinflation for FX_IDC:USDCOP by TrumpMakeBitcoinGreatAgain

The inherent weaknesses of the pandemic suffered by many developing economies such as Colombia, have implied that the central banks of Latin American countries sell their gold reserves, issue currency and solve their macroeconomic problems by resorting to loans.

The Colombian economy has suffered throughout its history the typical Dutch disease. Also, it should be noted that its leadership is a kleptocrat class that has been in power since the origins of this nation.

With the advent of the pandemic, these contradictions have settled, and currently it is sought to blame migration or the external enemy (Venezuela) for the evils that it has been dragging during the first two decades of the century.

On the other hand, the macroeconomic weaknesses inherent to the pandemic have eroded the most buoyant sectors of this economy, such as the exploitation of hydrocarbons and in part the buoyant trade promoted by tourism , especially international ones.

Under this context, and already speaking in a technical way, an equidistant channel can be observed that I have traced for more than a year and a half, as a purely theoretical and experimental exercise, keep in mind that I also draw a temporal projection based on the most significant changes. significant in the direction of price.

so joining the above to the traditional fibonacci tool, we have that it is very likely that around 2024 a maximum will be reached that is more than 50% above the current value of the currency with respect to the dollar. This implies that the currency suffers from structural weaknesses, from what I mentioned at the beginning and technically we are receiving great signs of a possible hyperinflation after 2024 or close to this year.

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