Venezuela's currency now worth so little shopkeepers weigh vast piles of notes

>Inflation in Venezuela is expected to reach 720 per cent this year, with the largest bolívar bill now worth just five US cents on the black market.

>Some shopkeepers have reportedly taken to weighing rather than counting the wads of cash customers hand them, and standard-size wallets have become all but useless in the socialist South American state. Instead, many people stuff huge volumes of cash into handbags, money belts, or backpacks, in scenes analysts have said are suggestive of "runaway" inflation.

>In 2014, plummeting global oil prices decimated Venezuela's economy. President Nicolás Maduro responded by fixing the official exchange rate and ordering banks to print more cash, which ultimately devalued the currency further, while goods prices soared.

independent.co.uk/news/world/americas/venezuelas-currency-hyper-inflation-oil-crisis-devalued-shop-keepers-weigh-notes-a7443596.html

How the hell do you fuck up being an oil state?

Other urls found in this thread:

globalpetrolprices.com/Venezuela/gasoline_prices/
reason.com/archives/2016/11/28/the-secret-dangerous-world-of
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gommunism :DDD

makes you think

They deal in pounds?

Venezuela is not doing true communism.

This is scarier than zombie apocalypse.

By putting your legions of mindless socialist supporters in charge of shit they've no knowledge of (e.g., power management, agriculture, et al).

We've got a little bit of that over here—it's called affirmative action, and identity-based hiring.

national socialist venezuela soon

What a successful liberal, peaceful, equality, diversity, equal opportunities for all socialist country! liberals take note!

It's not communism. It's literal retardation. Nicolas Maduro doesn't count with a team of economist who would tell him that printing money and fixed rates fuck up the economy. Also, he didn't expect oil prices to drop. He was a truck driver. He thinks like an 8th grader.

Problem number two was Chavez who thought replicating Gaddafi would work in a western democracy. Basically he undermined investment with expropriations and ridiculous laws.

But it's not communism because they are not communists. Venezuela is a market economy under authoritarian government.

>In Venezuela the government decides the amount of money to be printed

Lol

It's easy to fail as an oil state when the money you earn goes to welfare instead of being reinvested to improve oil production/refinement/distribution.

Why don't they just bring in a national socialist economy to rig their currency value for internal goods and trade oil for extra food from their neighbours.

Holy shit they did the "why can't we just print more money" method.

Money is pretty stupid when you really think about it.

Literally not at all how Marx outlined it in the manifesto faggots

You'd know this if you ever picked up a book

Anyway I predict a nationalist resurgence in Venezuela considering this is exactly what happened to the Weimar Republic

Real communism has never been tried :^)

If it was backed based on resources your country has in its stocks, it isn't, but when you just print more without having more stocks to back it up, you just devalue the currency.

You would think. But herein lays the problem. Libs believe that "the right people" haven't been in charge. That's how fucking deranged they are. Communism/Socialism has failed every time but they are idealogs. And China isn't successful because they're communist. Capitalism built that shit they now enjoy.

Communism and the current president, which is a dumbfuck, not figuratively, literally a dumbfuck, he was a bus driver before being president, he didn't even finished highschool, doesn't have any idea of politics, economy or even basic etiquette, and still the people chose him
My neighbor's situation is sad, but they brought it to themselves.

S O C I A L I SM

(but its not real socialism)

Half of the US is poor or "low income". There's a lot of wealth but a lot of people hate their jobs and are overworked. It's not just degeneracy/feminism/hedonism/whatever that makes the birth rates go down. People just can't deal with it anymore. It's asking too much. Capitalism needs some fixing in the west. It's no wonder people end up hating on it.

Huh. Another false news from oppressive neoliberal northern imperialist, trying so hard to undemine our glorious liberating progressive bolivarian revolution of the people of Venezuela. Please get your fact right by watching TeleSur.

Before 9/11 Sadaam was selling oil outside of UN "Sanctions". Basically he was running oil and undercutting OPEC. This in turn was bringing in really cheap oil through Citgo (Venesuala Oil). This is the real reason we went to war with Iraq. It was over oil, but it wasn't so the USA would get cheap oil. It was so the price of oil could be artificially regulated again with OPEC monopolies and price fixing.

Our men died in Desert Shield and returned home with uranium poisoning so we could pay 3 times as much for a gallon of gasoline.

Venezuela Oil (Citgo) was making huge profits because they were undercutting the US gas market through 7-11 and Citgo stations for about $0.05 cheaper than everyone else per gallon.

They have a problem with everyone expecting government subsidized oil now. globalpetrolprices.com/Venezuela/gasoline_prices/ shows the price per gallon for citizens at being less than US$0.01 currently.

So, falling profits from the USA combined with social expectation for government subsidies on everything and runaway inflationary currency printing combine to destroy the value of their economy long term.

You can't do what the USA does and have deficit spending every year and not have it catch up to you eventually.

>How the hell do you fuck up being an oil state?

by killing its leader with some secret jew cancer weapon and shitting on it's economy obviously

Not only that, but wars and sanctions keep/kept Iraqi and Iranian (and now Libyan and Syrian) oil off the market, driving up or supporting prices by destroying or blockading supply.

Anyway, the Venezuela example is a perfect case which proves only gold is money. Any fool with gold could just run out of Venezuela and set up in Chile with all his wealth intact.

If your country is filled with lazy niggers who don't want to work hard nor take any risk to open up new business to improve everyone lives, supposedly like half of America, like this nigger said, then your country stock will not go up.

I don't necessarily disagree but, government is the real reason things are so fucked up now. Regulations, EPA, IRS, Nafta, etc. 20 trillion in debt. Capitalism didn't do that. Fuckhead pols did.

>accuse others of being retarded and deranged
>can't even spell ideologue
AMERICAN
EDUCATION

>"real capitalism has never been tried"
The current economy is vastly less regulated than the Keynesian post-war period of the 50s and 60s, and it has gotten worse - not better. As regulation has decreased under neoliberal consensus the economy has turned more and more into a way for the rich to shaft the poor.

Hayek was a mistake.

the real problem here is as follows:

when chavez nationalized the oil industries kicking out the old ones, he could no longer get specialized workers and the pieces needed for maintenance and changing what breaks in the pumps etc

production in 1.5 year, approx, went from 4.something millions barrels to 1.5 millions i think

price was around 90 dollars or more when he started then it went down hard

but the genius chavez had already spent lots of money based on 4 millions barrels at 90 dollars

now they are fucked... wonder why?

the only good thing about chavez was that he had cancer

Your sheep are calling you. Give 'em some loving.

>How the hell do you fuck up being an oil state?

When it's literally all you have you're fucked when oil prices tank.

They'll be sitting pretty once Trump destabilizes the middle east by invading Iran, though.

You have no idea how annoying this is.

I louled.

yes but also this

And btw this was coming long before Maduro. But of course when the oil went down it got even worse.

/thread

anonbro im sorry

i hope you have some foreign currency of that your family is one of the few lucky ones

you seem ok

>electing godless freedom hating gommies

you deserve this

>another sovereign nation bites the dust...the globalist jews strike again.

Well when thr oil price tanks and you're a banana republic relying on oil then your economy gets fucked. Happened to Russia, too.

Lmao... it's Zimbabwe 2.0

I have a stupid question: how in places like zimbabwe and Venezuela do they have "runaway inflation" when the government just keeps printing money? Wouldn't it make more sense to do the opposite?

>you deserve this
Stupid comment. I'm sure it's his fault. Retard leaf. Go listen to your shitty rush albums.

>Go listen to your shitty rush albums

day of the rake cannot come soon enough

Where can I buy some bolivars?

I wanna give out stacks of it as stocking stuffers this year

It's time to pay for all that free oil bro.

>tfw burning up that shit put you into slavery

Try a bank dumbass.

Praise Kek!

All this talk about inflation and food shortages when the answer is simple. They have piles of worthless money, which is made of paper. Paper is made from trees. Trees are plants and everybody knows that plants are vegetables, so why don't they just eat the money and stop complaining?

pickpockets in Venezuela must be swole as fuck

My country maybe cucked but we would not elect friggin gommunists

hath but one page...

37 cents a gallon isn't free. But close.

...

check'd & agreed

nu-Sup Forums will just ignore this because "muh commies"

Justin Trudeau.
You were saying...........

Just ask equatorial guinea. Also fuck you and fuck the Saudis. You guys are making us all suffer.

globalpetrolprices.com/Venezuela/gasoline_prices/ shows it's US$0.03 per US Gallon right now, probably because of a combination of their worthless currency and government subsidies.

Because their governments are just creepy little gangsters who are only concerned with staying in power for the next month. Picture an ocean-going vessel held together with duct tape.

the government has to pay the bills somehow so they just print the money

Liberals are in charge. But you wouldn't know anything about our education system because YOU DON'T FUCKING LIVE HERE.

Check baby check. One... two... three?

socialist ideals are not necessarily bad. trumps attitude during campaign was quite socialist really, with his message being business should benefit the people. its not that different. i switched 2 aussies obsessed with bernie to being protrump by sending the right speeches. sure pointless i just couldnt stad their fucknig fb posts.
the western world taking steps in a socialist direction wouldnt be the worst thing, our corporations sell us heaps of shit made by chinese communist workers while westerners cant get jobs in their own country.
we need an attitude of what our government does and enforces is for us.
government owning some form of manufacturing could be good too.
in my city, adelaide, we had the only automotive manufacturing in australia, of course we couldn't compete with the profits made in china, but our government bailed them out a couple times hoping they would stay.
of course with corporations needing a growth every year eventually to keep increasing in value for its investors it moved to china.
we have the factory still here abandoned soon in an area with %25 unemployment, if our gov set up a state owned factory, it would not need to grow every year only to cover wages. can someone point out holes in my way of thinking? im quit aware this could be a bad idea but i cant see how.

Fuck non STEM cells.

globalist puppet >>>> dirty fuckin gommie

Is it just me or is this thread blessed?

Well you have your answer

no wonder you're a leaf

is the reason why.

>46
Who knows?

>no es verdadero comunismo!

kek

leftists btfo

How long until they start using it as kindling?

Get a rake.

Venezuela already started invading my country like roaches. Sadly no one gives a fuck because the women offer easy poon for cash.

Not gonna lie, former commie here. This is fucking hilarious watching Venezuela crash and burn.

I suppose if any of us had the "right" answer, they'd be no problems. It seems like if someone believes in communism, it's communism all the way. Same for capitalists, Socialists. Be nice if it could morph into something new. I live in an area that used to be heavy industry, cars, construction machinery, tool machinery. All gone. So I can relate to your auto plant story. It's why those trade deals piss me off. One example is US made a trade deal with Korea where we could only import 4,000 cars a month to Korea. They could import an unlimited amount. Pols need to be hanged.

I hate Marxists.

Holy shit

>please don't be in turkey this time
>please don't be in turkey this time
>please don't be in turkey this time
>please don't be in turkey this time

Have you tried building a wall?

is this a rare flag?

>why_can't_I_hold_all_this_inflation.jpg

>oil prices at record highs
>hand out gibs to poors based on record high oil prices
>oil prices drop
>ohshit

Venezuela is run by retards. It's just like when Mugabe caused a famine when he stole land from people who knew how to run a farm and gave it to people who don't know how to run a farm.

Welp, time to order a high end mail order bride from Venezuela.

Brb.

>Mugabe caused a famine when he stole land from people who knew how to run a farm and gave it to people who don't know how to run a farm.
Old Soviet Union did the same thing. And every year their wheat crop failed and had to buy fron US.

Should have invested in infrastructure to industrialize so the country could be more productive and have a higher GNP. Feeding poor people just makes more poor people (though you are popular for a few years before you die of cancer).

>Welp, time to order a high end mail order bride from Venezuela.
I doubt if she's available. (Ever see a good looking homeless person)?

...

Explain why poor people reproduce the most then? Education and higher income correlates with a lower birthrate.

When you print money, the secret is not to tell anyone the true amount, if they know the true amount then prices will skyrocket and so will wages.

Funny enough, if everyone stayed calm and prices stayed the same then its could of actually helped the economy, but everyone panics and demand bcus they expect the shopkeeper or employers to ask or give more.

Inflation in theory is cuased by an excess amount, but its more psychological. If you expect then you will cuase.

Humand using retarded amounts of jewpaper to survive is the most obvious enslavement in the history of the world

Look at these retards trying to buy food with piles of wierd jewpaper

Have you thought about trying Bitcoin?

reason.com/archives/2016/11/28/the-secret-dangerous-world-of

>BP

There minimum wage must be really high
They are now the spic version of Zimbabwe.

Take my advice, they're comparable to jews.

An acquaintance of my friend lives near the area where the wash ashore, and arranged to take in a woman as a wife.

He got cucked hard within a month and she later disappeared with a lot of his money. It's a pretty common story in the uncommon story of someone marrying those hotties in return for food.

so can I now live like a king in venezuela with like 100k?

How did the UFO thing turn out? Just a twitter prank?

>Brexit
>Trump
>Castro dead
>Venezuela on the verge of civil war

Zimbabwe
Weimer republic
All places that made their money worthless