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re: Photos that illustrate the impact of hyperinflation in Venezuela

Posted on 8/20/18 at 5:37 pm to
Posted by elposter
Member since Dec 2010
26700 posts
Posted on 8/20/18 at 5:37 pm to
quote:

In a plan designed to tackle hyperinflation, Venezuelan President Nicolas Maduro on Friday announced plans to raise his country's minimum wage






Posted by AUCE05
Member since Dec 2009
45369 posts
Posted on 8/20/18 at 5:40 pm to
Am I the only one who noticed that they are trying a government backed crypto?
Posted by HempHead
Big Sky Country
Member since Mar 2011
56702 posts
Posted on 8/20/18 at 5:42 pm to
quote:

Am I the only one who noticed that they are trying a government backed crypto?



They're trying because bitcoin interactions are almost as prevalent as USD in their black markets, and they are trying to retain control.

Their retarded attempt is not going to have a hard limit on crypto produced, so it will be just as useless and without value.
Posted by AUCE05
Member since Dec 2009
45369 posts
Posted on 8/20/18 at 5:43 pm to
Yeah, but it could effect the overall crypto market, hyper inflating BTC.
Posted by HempHead
Big Sky Country
Member since Mar 2011
56702 posts
Posted on 8/20/18 at 5:43 pm to
quote:

Yeah, but it could effect the overall crypto market, hyper inflating BTC.



You mean you think it will drive the value of BTC up?
Posted by goofball
Member since Mar 2015
17353 posts
Posted on 8/20/18 at 5:44 pm to
quote:

Am I the only one who noticed that they are trying a government backed crypto?



...and with no limit to how much the gov can issue (and a proven record of monetary stupidity) this is going to be just another tragic disaster.
Posted by Bullfrog
Running Through the Wet Grass
Member since Jul 2010
61204 posts
Posted on 8/20/18 at 5:45 pm to
Every government transaction done in Venezuela is allowed to be done in crypto. But you have to exchange your bitcoin or etherium or litecoin for their national crypto before you can complete the transaction.

This is their government trying to hoard cryptos with value for their worthless one.
Posted by HempHead
Big Sky Country
Member since Mar 2011
56702 posts
Posted on 8/20/18 at 5:47 pm to
quote:

This is their government trying to hoard cryptos with value for their worthless one.



Damn, that's a pretty good idea from a malevolent and parasitic POV.
Posted by castorinho
13623 posts
Member since Nov 2010
87548 posts
Posted on 8/20/18 at 5:48 pm to
Can I get an illustration for hookers and blow?
My buddy was wondering.
Posted by engvol
england
Member since Sep 2009
5353 posts
Posted on 8/20/18 at 5:49 pm to
I have a pretty sweet 1billion Zimbabwe rand note
Posted by biscuitsngravy
Tejas, north America
Member since Jan 2011
3888 posts
Posted on 8/20/18 at 5:53 pm to
And to think years ago Venezuela was the shining example of democracy and economic prosperity. It was high on the "places to live abroad" list.

Timely reminder of Harry Browne's comments to always have an exit plan. Have an account in a country you can get to, and transfer your assets to in the event the one you're living in goes to shite (gets invaded or votes in a radical socialist).
Posted by AUCE05
Member since Dec 2009
45369 posts
Posted on 8/20/18 at 6:15 pm to
Yeah. They will use BTC like a gold standard. T
Posted by member12
Bob's Country Bunker
Member since May 2008
33142 posts
Posted on 8/20/18 at 9:40 pm to
quote:

And to think years ago Venezuela was the shining example of democracy and economic prosperity. It was high on the "places to live abroad" list.



Do they extradite to the US?
Posted by HempHead
Big Sky Country
Member since Mar 2011
56702 posts
Posted on 8/20/18 at 9:54 pm to
quote:

Yeah. They will use BTC like a gold standard. T



Posted by GeauxxxTigers23
TeamBunt General Manager
Member since Apr 2013
62514 posts
Posted on 8/20/18 at 9:56 pm to
quote:

What do you think SS, medicare/medicaid the military,and VA, etc are? In fact lets cur all the socialist programs in America and see what's left standing. It's too bad you've been supporting socialism your whole life under the guise of patriotism and freedom
But I don’t support those things
Posted by Iron Lion
Romulus
Member since Nov 2014
13997 posts
Posted on 8/20/18 at 11:06 pm to
quote:

I have a pretty sweet 1billion Zimbabwe rand note

A guy I work with has a couple of those. He's absolutely convinced he can "cash" them in and literally be a billionaire. Stupidity is a disease.
Posted by SoulGlo
Shinin' Through
Member since Dec 2011
17248 posts
Posted on 8/20/18 at 11:49 pm to
quote:

What do you think SS, medicare/medicaid the military,and VA, etc are?


Socialism.

And if I could opt out of every dime Ive paid in to exempt my kid's from ever having to participate, I wouldn't think twice.

quote:

In fact lets cur all the socialist programs in America and see what's left standing.





quote:

It's too bad you've been supporting socialism your whole life under the guise of patriotism and freedom



No I haven't.
Posted by Golfer
Member since Nov 2005
75052 posts
Posted on 8/20/18 at 11:52 pm to
quote:

In fact lets cur all the socialist programs in America and see what's left standing.


A stable country not dependant on its government.
Posted by SoulGlo
Shinin' Through
Member since Dec 2011
17248 posts
Posted on 8/20/18 at 11:53 pm to
I'd still let her suck on it.
Posted by Cincinnati Bowtie
Sparta
Member since May 2008
11951 posts
Posted on 8/20/18 at 11:54 pm to
quote:

Oh buddy. You really don’t want me to drag my cock all up and down your face over socialism and why it is a failed ideal.

We would.
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