ZeroHedge: Back in February, when we commented on the unprecedented hyperinflation about the be unleashed in the Latin American country whose president just announced that he would expand the “weekend” for public workers to 5 days…
… we joked that it is unclear just where the country will find all the paper banknotes it needs for all its new physical currency. After all, central-bank data shows Venezuela more than doubled the supply of 100-, 50- and 2-bolivar notes in 2015 as it doubled monetary liquidity including bank deposits. Supply has grown even as Venezuela has fewer U.S. dollars to support new bolivars, a result of falling oil prices.
All they have to do is announce that they will put the picture of a Transgender, Black lesbian, Micheal Obama’s butt or Al Sharpton’s mouth and the United States will pay for it!
Varooom, Bolivar looks like a Spanish Andrew Jackson. He’s doomed. I’m sure Che had some whore of whom Obama would approve to replace Bolivar.
The last week in March, gold went from VEF 7500 to VEF 12,500 per ounce. Coming soon to America.
Socialism Rocks!
More like Socialism on the rocks… yet again!
Gee Wally, at least the old currency will now provide a solution to that toilet paper shortage. Just keep moving the decimal point and they’ll be able to blow their noses too!
So true Cracker, both frontrunners, Hillary and Trump, want to finance economic expansion with borrowed money just like Osmegma did.
Shutting the power off 4 hours a day because their main hydro reservoir is nearly dry. This dilemma has been haunting the socialist paradise for 6 years now.
USA greenies take note: do NOT throw all your energy sources into one basket, unless you want to reset your clocks every frickin day.
Granted, Venezuela went renewable so they could sell more oil internationally, but the result is the same. Eventually, sooner than later, renewables will fail you. A diverse generation portfolio remains more reliable across the board.
have any of bernies supporters ever even heard of venezuela?
Another utopian socialist paradise gone bust.
Film at eleven.
Does this mean that they all get to move here?
Is Venezuela run by the same crew that runs New York City Family Court?
We have chronic supply shortages. For months there was not a rubber band to be had. Now I’ve got a stack of legal papers on my desk that I can’t mail to a litigant because there are no letter-sized manila envelopes.
Central planning’s a bitch–at ALL levels.