Venezuelan Hyperinflation Crisis
When I get any news from the failed socialist government state of Venezuela I continue to take notice. Plain and simple the people are suffering beyond anything I or anyone my age or younger in the US has ever had to face. I'm hearing accounts of the average Venezuelan citizen losing at least 20-30 lbs since their President Maduro has cracked down and seized more and more control of the economy. That started under Hugo Chavez too before he passed away. The people aren't allowed to own firearms and with the military in control what little chance of a overthrow is unlikely at this stage.
The topic of this post is to show everyone just how unstable fiat currency systems can become and how bad hyperinflation really is in Venezuela currently. As of now the people are paying 1000 times more bolivars for dollars than in 2010. And with more news Maduro is trying to take over the Constituent Assembly and possibly rewrite their constitution it doesn't look good at all for the freedom of their citizens. Even this chart from the past 3 years shows how fast hyperinflation can happen.
http://www.zerohedge.com/news/2017-07-22/venezuelans-are-now-paying-1000-times-more-us-dollars-they-did-2010
More and more Venezuelans are using bitcoin now. I hope things improve but some citizens are taking it into their own hands.
Yes they are @steemsteamsteme but the problem with that is how to buy necessary food items for daily living. You can protect your fiat for a while but eventually you need to pull them back out to buy food.
Nice post, very interesting. You learn something every day :)
Glad you liked it @silverstackeruk learning is an ongoing endeavor.
@natavegas, Please help my posting advance,
bonito tu post,, ,paisano... soy nueva en steemit
.. apoyémonos.. :)
Gracias @cajalias7 Viva el steemit!
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