Posted on 08/12/2021 8:20:31 AM PDT by Oatka
CARACAS, Venezuela -- Yosmar Sanguino says she struggles to put food on the table for her two daughters and three grandchildren in a low-income neighborhood of Venezuela’s capital.
She often whips up arepas — traditional flat, round corn patties — with butter and cheese. But it’s hard to afford even those few ingredients.
“There is food, but the money is lacking. Because if you buy one thing, you can’t buy the other,” she said. “If you buy butter, you can’t buy cheese. Or if you buy the cheese, you can’t buy the butter.”
(Excerpt) Read more at abcnews.go.com ...
Basically the same old story of a government printing currency non-stop (sound familiar?) and blaming the inflation on something else.
There was an article of FR about their government lopping six zeroes off the currency. This article mentions they had done something similar before - three zeros in 2008 and five more in 2018.
The hard metal advocates' rule of thumb is that after the third devaluation, the govt throws in the towel and goes back to a gold-backed currency. The only problem is the UK, who holds Venezuela's gold, won't give it back.
Once again proving the Stacker's axiom: "If you can't hold it in your hand, you don't own it."
I’m not sure that Venezuela has any gold left to back their currency. But switching to dollars might work. 5% to 10% inflation would look pretty good to them about now.
With our Federal Reserve printing Trillions of digital dollars out of this air, why are Venezuelans complaining? If Venezuela is not printing excess currency, their currency will buy more cheaper dollars and thus can buy more American goods.
Oh but wait just a minute! Maduro is printing fater than the American FED! So blame the fatso Venezuelan Maduro, pal of Obama, not US dollars.
Venezuelans are smart and able bodied. They are able to work productively. Their country would be prosperous if it weren’t for the communist system forced upon them by their government.
Their rulers have removed all incentive to work, as all communists do. There is no more money remaining to seize.
This is what the democrats are planning for us.
They have oil, natural gas, iron, aluminum, gold, diamonds, emeralds, hydroelectric dams, forests, farmland, and fisheries.
Oh, and kleptocratic commies as leaders.
> But switching to dollars might work. <
North Korea is supposed to be halfway decent at counterfeiting US $100 bills. Maybe Maduro should contact his commie friends there.
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