And, if they do a good job, you give them a tip of two olives...
Posted on 05/06/2018 11:11:31 AM PDT by blam
For Venezuela's economy, the ascent into socialist paradise did not turn out quite as planned: in fact, under the Maduro regime, the country with the world's biggest petroleum reserves somehow reversed course, and crashed through every single circle of economic hell, and now that its hyperinflation has hit levels that would make even Mugabe and Rudy von Havenstein blush, all that's left is barter.
And, as Fabiola Zerpa explains as part of Bloomberg's fascinating "Life in Caracas" series, i.e., watching economic and social collapse in real-time, in Venezuela, a haircut now costs 5 bananas and 2 eggs.
The other day, I made a baguette-for-parking swap. It worked out brilliantly
I had time but, as usual, no bolivars. The attendant at the cash-only lot had some bills but no chance to leave his post during the fleeting moments the bakery nearby put his favorite bread on sale. The deal: He let me leave my car, and I came back with an extra loaf, acquired with my debit card. He reimbursed me—giving me a bonus of spare change for my pocket.
That’s how we make do in our collapsing economy. If somebody has lots of one thing and too little of another, an arrangement can be made. I’ve exchanged corn meal for rice with friends from high school, eggs for cooking oil with my sister-in-law. Street vendors barter, too, taking, say, a kilo of sugar as payment for one of flour. There are Facebook pages and chat-room groups devoted to the swap-ability of everything from toothpaste to baby formula.
A barber in the countryside cuts hair for yuccas, bananas or eggs. Moto-taxi drivers will get you where you need to go for carton of cigarettes. The owners of one of my favorite Mexican restaurants offer a plate
(snip)
(Excerpt) Read more at goldismoney2.com ...
oooohh sh!t... LOL!!!
$2-3 US. But the airfare there would kill you.
Welfare 1964, the beginning of Printing Excess Money
Coinage Act of 1965, the realization we were going bankrupt, removing ALL precious metals from our currency
Closing the Gold Window August 15, 1971, the Formal Declaration to the World that the US was Officially Bankrupt.
I have lived it and still carry 2 silver dollars in my pocket to remind people of what happened.
Up until 1964, inflation(THEFT OF VALUE)was ILLEGAL!!!
Bananas and eggs, because that's the price of a trim.
Understood. But we’re talking about a country where food is scarce.
For five bananas and two eggs I’d expect more.
Thankful not there to know for sure.
These poor people must not have any guns.
Like it. A yellow egg where the star is would be hysterical. A shirt or hat with the logo would be quite the conversation piece.
I’d rather eat and cut my own hair.
“For five bananas and two eggs I’d expect more.”
Shave and a wax?
The author of the article seems to be missing the point. There is no shortage of basic goods. There is only a shortage of the freedom to provide or obtain such goods.
An excellent description of the qualities of socialism...
BTTT
In a barter economy, there is very little pressure for inflation.
In an economy with currency that is not convertible to gold, the government can print more and more bills and distribute them, leading the people to believe they actually have more money.
The government has a vested interest in causing prices to rise out of control. People in government are protected by cost-of-living raises. Those with savings are rendered instantly poor.
Great graphic...I’m archiving that one...thanks!
They need to start trading for ammunition.
Great song
Thanks for posting it
Supercuts charges $21 for a haircut.
Next time I am there I will offer 5 bananas and 2 eggs.
They might take it and mix it up and use it as a hair conditioner......
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