Posted on 01/18/2018 1:32:19 PM PST by detective
The economy has gotten so bad in socialist-ruled Venezuela, that people are simply throwing their money away because it has become so worthless due to rampant inflation. A column Wednesday in The Washington Post details the desperate conditions millions of Venezuelans face on a daily basis. Things are so bad, according to columnist and executive editor of the Caracas Chronicles Francisco Toro, that small-denomination currency [is] now so worthless that even looters
[dont] think [it is] worth their time to stop and pick them up in garbage cans. Each of 20-bolivar bills, according to analysts, is worth about $0.0001 at the current exchange rate, requiring Venezuelans to have 100 of the bills to even have a penny.
(Excerpt) Read more at dailycaller.com ...
It’s sad that Venezuela people were warned about their descent into socialism, but they just asked for more, and did they get it!
They should use those dollars to buy the best selling North Korean cookbook.
Francisco Domingo Carlos Andres Sebastian d'Anconia
That’s how it works. Inflation like this renders all savings worthless. It takes one’s life savings and turns them to $hit.
Meanwhile, the ruling elites live high off the hog. They lose nothing.
This is what you get when you elect communists.
Yep.
I can see tossing the coins, but with no toilet paper...?
Every time.
Didnt Trump say something about the problem was that Socialism has been implemented perfectly in Venezuela?
I thought that statement needed to be one of his all-time great quotes.
That is true. Look what happened to the value of Saddam Hussein’s paper money. It is now selling well above face value as collector's items.
VEN currency = the substitute for the toilet paper the people really need.
Yeah, OK. But it's Socialism. So nobody NEEDS money...
Because everything is FREE under Socialism!!!!
Silly headline. ☺☻☺☻☺☻☺☻
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