Blog: My Venezuela Nightmare: A 30-day hunt for food in a starving land

Bamaro · Jan 26, 2019

UAH said:
All of the debt and import purchases of these countries is denominated or priced in US Dollars. When there is political/economic instability the value of their currency relative to the Dollar changes by several magnitudes. Shortages of necessities follow and more currency chases fewer and fewer goods. A wheelbarrow full of money to buy a loaf of bread as it was in Germany following World War l

If my math is correct, 10 million % means that something that cost $1 last year would now cost $100,000? Bummer for anyone on a fixed income.:eek2:

UAH · Jan 26, 2019

Bamaro said:
If my math is correct, 10 million % means that something that cost $1 last year would now cost $100,000? Bummer for anyone on a fixed income.:eek2:

Yes the magnitude of that number sounds ridiculous on the surface of it. When we look at fiat currencies that have no basis in value such as with gold they can become completely worthless. This is where the US is headed at some point with our constantly deflating the value of the dollar. The Fed buying our own debt and holding on the Fed balance sheet which is essentially printing money.

rgw · Jan 26, 2019

It is a tragedy what is going on there but the US and our allies own some of the blame. This is ultimately about getting a regime change that will privatize some industries we care about such as oil. Nothing spells doom more certainly than daring to federalize oil while being in South America or the Middle East.

twofbyc · Jan 27, 2019

Chavez discovered you can’t “buy” love and respect, but he found out too late, after he had practically destroyed the country.
Maduro is just another mouthpiece. It’s sad.

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Blog: My Venezuela Nightmare: A 30-day hunt for food in a starving land

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