Posted on 10/01/2021 7:13:05 AM PDT by Browns Ultra Fan
Here they go again! A cautionary tale of a government gone wild resulting in gut-wrenching inflation and 76.7% of the population living in extreme poverty.
Venezuela is launching a new version of the bolivar in the latest attempt to salvage a currency so beaten down by years of hyperinflation that residents have adopted the U.S. dollar.
The so-called digital bolivar, which is being introduced Friday, effectively removes six zeroes from the “sovereign bolivar,” which started circulating just three years ago. ...
Venezuelans have faced disastrous government policies and pressure from U.S. sanctions that have put the country on the brink of its eighth-straight year of economic contraction. More than 5 million people have fled the country, once one of Latin America’s wealthiest.
An estimated 76.6% of Venezuelans are living in extreme poverty, up from 67.7% last year, according to a university survey on living conditions known as Encovi.
As least Venezuela’s Treasury Department could produce a likeness of Simón Bolívar (aka, Simón José Antonio de la Santísima Trinidad Bolívar y Ponte Palacios y Blanco) that doesn’t look like a bad cartoon character.
(Excerpt) Read more at confoundedinterest.net ...
Coming soon to a wallet near you....................
That will happen here. The pace of it occurring is accelerating. People are too ignorant to see it coming.
We’re headed in that direction. Victories in November a year from now won’t help.
If the Democrats and the Assistant Democrats pass these monstrosity bills, we won’t be far behind Venezuela.
Largest oil reserves in the world.
This is the “progressive” agenda in action.
Everyone is equal because everybody is in extreme poverty—except of course for the ruling elites.
It’s already here.
That will happen here. The pace of it occurring is accelerating. People are too ignorant to see it coming.
Berniezuela
Weird that the socialists of the U.S. are not flocking to this utopia.
Digital Money
001001001001011100101010010101001
Can’t hold it in your hand.
Someone please explain to me how the 76% in “extreme poverty” can access the smart phones, tablets or computers to use digital currency?
Coming soon. Except half the country now comes from elsewhere so they won't understand what is happening or think it's the regualar.
Guess they have a paper version of the digital money? For the most part, digital money is just money that's not backed by anything physical. Of course that describes most money today. It's backed by debt and a supply of credit seekers. If everyone stopped financing things, the system would collapse.
I’ve noticed the price of coffee is starting to go up.
“People are too ignorant to see it coming.”
Most are too interested in playing rather than paying attention.
Venezuela coming to the U.S soon, thanks to the unelected, illegal occupant of D.C., the criminal enterprise known as Democrat party, and their RINO accomplices, in the Republican party. 😡
Marxists refuse to understand. The main role of government must be to have as many people as possible working as productively as possible as long a time as possible.
Instead, its role has become to take money from the producers, give it to the indolent and tell the indolent that the producers made them poor.
(We have the best-fed “poor” in the world. It’s just that “rich” or “poor” is determined by one’s gross salary. The reality is that the producers see half their earnings taken and given to the “poor” who are always called poor even when the benefits they receive are more than the producers take home.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.