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re: Hyperinflation Pushes Venezuela to Print 1,000,000-Bolivar Bills
Posted on 3/6/21 at 10:17 am to Auburn1968
Posted on 3/6/21 at 10:17 am to Auburn1968
Merchandise is in such short supply that people there have developed a system of trade with their friends and relatives in normal countries like the US.
Let's say toilet paper and toothpaste are very scarce and expensive. Pablo will write his cousin in the US 'Send me 20 tubes of toothpaste in a small package.'
He will then barter the toothpaste (which is much easier to ship than 20 packs of toilet paper) for toilet paper hoarded by his neighbors.
Other tubes will be similarly bartered with other neighbors who are hoarding other scarce products.
It's a pain in the arse but that's what happens when an economy fails.
Let's say toilet paper and toothpaste are very scarce and expensive. Pablo will write his cousin in the US 'Send me 20 tubes of toothpaste in a small package.'
He will then barter the toothpaste (which is much easier to ship than 20 packs of toilet paper) for toilet paper hoarded by his neighbors.
Other tubes will be similarly bartered with other neighbors who are hoarding other scarce products.
It's a pain in the arse but that's what happens when an economy fails.
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