RE: The Ongoing Crisis in Venezuela and the "Petro Coin"
Wow " 1 USD was worth about 8 bolivars… today 1 USD would fetch you around 33,499 bolivars." That is insane , and the cost of a dozen eggs around $150 usd. One has to wonder how did it come to this?
The introduction of the Petro currency seems to be a good move but I can imagine the same elites manipulating the currency for their own gain. i'm surprised so many people purchased the petro, where did you get this information?
In my country Jamaica 1 USD is worth 126 Jamaican dollars, the economy continues to be crippled by the IMF's debt trap, the minimum wage is $6,200 JMD ( $49 USD) per week. This situation has caused a tremendous increase in crimes and brain drain. Every year it gets tougher , and for a country with such a strong brand, this should not be the case. I doubt Jamaica will ever reach the levels that are talking place in Venezuela. I hope the people will rise above this.
Venezuela was the richest country in South America.. makes one think that it does not matter how rich one country is, it can always fall. We are sorry to hear that Jamaica is experiencing their own economic issues. Would you say you seen this coming or was it surprise?