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Venezuela's money worth so little shopkeepers weigh instead of count
Posted on 11/29/16 at 9:40 am
Posted on 11/29/16 at 9:40 am
Socialism at it finest
LINK
so glad we didnt mint the trillion dollar coins
LINK
quote:
Inflation in Venezuela is expected to reach 720 per cent this year, with the largest bolívar bill now worth just five US cents on the black market.
quote:
Some shopkeepers have reportedly taken to weighing rather than counting the wads of cash customers hand them, and standard-size wallets have become all but useless in the socialist South American state. Instead, many people stuff huge volumes of cash into handbags, money belts, or backpacks, in scenes analysts have said are suggestive of "runaway" inflation.
In 2014, plummeting global oil prices decimated Venezuela's economy. President Nicolás Maduro responded by fixing the official exchange rate and ordering banks to print more cash, which ultimately devalued the currency further, while goods prices soared.
so glad we didnt mint the trillion dollar coins
This post was edited on 11/29/16 at 9:44 am
Posted on 11/29/16 at 9:42 am to tke857
and yet so many here champion socialism
Posted on 11/29/16 at 9:43 am to tke857
Back when the Weimar Republic was failing and Germany's economy was tanking 4 years after WWI, inflation was so bad that people were paid twice a day. They would use wheelbarrows of cash to pay for a loaf of bread. People started using it as wallpaper
Posted on 11/29/16 at 9:43 am to tke857
Same thing happened to germany, this won't end well.
Posted on 11/29/16 at 9:44 am to tke857
This would go better on the Political Talk so dipshits there can make some reference to Obama and MAGA
Posted on 11/29/16 at 9:45 am to tke857
Gonna take my piggy bank and go get a cocaine farm
Posted on 11/29/16 at 9:47 am to tke857
I've always wanted to be a trillionaire.
Posted on 11/29/16 at 9:49 am to cwil177
quote:
Back when the Weimar Republic was failing and Germany's economy was tanking 4 years after WWI, inflation was so bad that people were paid twice a day. They would use wheelbarrows of cash to pay for a loaf of bread. People started using it as wallpaper
People would burn it as fuel. It was worth less than wood.
Posted on 11/29/16 at 9:54 am to X123F45
And don't forget the hyperinflation issues in Zimbabwe more recently. LINK
quote:
Zimbabwe banknotes ranging from 10 dollars to 100 billion dollars printed within a one-year period. The magnitude of the currency scalars signifies the extent of the hyperinflation.
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