Venezuela falls to Bourgeoisie

I imagine Hugo Chavez is rolling in his grave. Being pegged to the U.S dollar was a privilege, not a right. It was inconceivable that Maduro would commit such a theft wholeheartedly.

Hyperinflation works like this. If you borrowed 1,000,000 Bolivars from your people worth 400,000 USD. After 5 years that 1,000,000 Bolivars is worth 40 USD. To cancel your debt at home you pay 40 USD. This would be easy for Maduro and his goons because they bought gold with those loans.

The U.S doesn't care about Juan Guaido, anyone is better than Maduro. The National Assembly is so closely tied to the Central Bank of Venezuela that everything is crooked. Disputes over leadership at this point makes it all the worse. Saying the Venezuelan people have been sold out is an understatement.

What's next

It doesn't matter who comes to power in the next election. Venezuela is probably going to get one of the worst deals in history. This is where it gets dangerous.

Historically, States in this predicament fall to great violence when the proletariat (the masses) realize their discomfort is a repayment tool.

The Bourgeoisie do well (probably in crypto) and never know when to hide. They decide to be a martyr instead. Fatal last words have usually been "I love my country, I will never leave her" or "my people need me".

I don't mean to pick on Venezuela, but it has been a textbook development so far. The upcoming parliamentary elections might as well be about whether the U.S will get Maduro before 2024.

Stay safe Steem members.