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…[don’t] 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 ...
This is what socialism is in real life.
Where or where is Sean Penn?
The Burn?
Obama?
/src on/Don’t worry MaduroCoin to the rescue./src off/
I even smell a bit of brimstone.
Shades of post WWI Germany...
Huh! History repeating itself. Who woulda thunk it. Certainly not the stupid rats!
Zimbabwe of the Western Hemisphere.
Perhaps there is another use for otherwise worthless paper money. Seeing as how you can’t get toilet paper in Venezuela...
They are genius inflation hawks.
Apparently it’s not even useful as toilet paper.
Maybe they should hire some Haitian economic advisers.
Haven’t read Atlas Shrugged in years. A great refresher. I’ll need to get a reread on my to do list.
They’d get more than that for it on eBay.
The same thing is true of old Mexican money. I found a bunch of bills while cleaning out my mom’s apartment. The Bank of Mexico will redeem all bills—at current value. So the old 100 peso note is worth .1 new peso. And how much is a new peso worth in ‘real’ money? About 5¢. So if you want to cash in your old Mexican money, better bring a wheelbarrow.
Old joke from the post WWI German inflation. Man took his daily pay in a wheelbarrow to do some shopping. When he came out, thieves had stolen his wheelbarrow—after dumping out the cash.
Why can’t Tiny Dick Turban Durban go there and get their legislation straightened out?
There was a news story (pre-internet) after the Soviet Union fell about shredded paper rubles being used as building insulation.
Read my tagline and buy our companion book. You’ll get more out of Atlas if you do. And Billthedrill and I could sure use the royalties. Check my FReeper profile page for a link to Amazon.
Danny Glover, Harry Belafonte, Sean Penn, Bono................your people need you!.................
Where or where is Sean Penn?
The Burn?
Obama?
Probably hiding out the same place Al Gore is after his global warming hoax was discovered.
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