Hyperinflation in Venezuela has prices going up 80% every month

Venezuelan national Jorge Gutierrez holds a wad of worthless Venezuelan currency he wants to exchange for some Colombian money as he rides a bus in Bogota, Colombia. (Fernando Vergara/AP)

Rev 6:6 NAS And I heard something like a voice in the center of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not damage the oil and the wine.”

Important Takeaways:

  • Venezuelans Throw Worthless Money in Trash Amid Massive Inflation
  • “As Venezuela sinks deeper and deeper into the first hyperinflation the Western Hemisphere has seen in a generation, bolivar banknotes have come to be worth basically nothing,”
  • Caracas Chronicles news website said 20-bolivar bills were once worth about $2 US each but are now equal $0.0001
  • Prices on goods go up about 80 percent every month
  • “Rule No. 1 of surviving hyperinflation is simple: Get rid of your money,” The second you’re paid, you run out as fast as you can to buy something — anything — while you can still afford it. It’s better to hold almost any asset than money, because assets hold their value and money doesn’t.”
  • The country experienced an economic collapse in 2014 under its socialist government and has not rebounded. There are shortages of food, medicine, and basic necessities throughout the country.

Read the original article by clicking here.

Leave a Reply

To have your avatar appear when commenting, please signup for the Gravatar service. Your email address will not be published.

 characters available

To have your avatar appear when commenting, please signup for the Gravatar service.