the printing press simply cannot save the country from a death spiral, but it doesn’t mean Maduro is prepared to let go of power. He has maintained that Venezuela's problems are due to economic warfare being waged by the United States to topple the oil-rich socialist regime.
Bremmer Rodrigues, who runs a bakery on the outskirts of Caracas, said his family are at a loss over what to do with their bags of bills. “It’s a mountain of cash, every day more and more.”
...
The shrinking value of the currency has meant that withdrawing the equivalent of $5 from an ATM produces brickloads of bills. Some ATMs now need to be refilled every few hours, because the machines can only hold so much cash. This means there are often a limited number of functioning ATMs in Caracas, and long queues to withdraw money.
But the wheelbarrows-full of bills have meant paying for everyday groceries has changed in the socialist utopia.
Sounds like one of our southern neighbors is ripe for a strong-man. Just needs a nice foreign enemy, and a stockpile of natural resources. Oh...
GrumpyCatFace wrote:Wheelbarrows of cash. 4,000% inflation. Government still (somehow) clinging to power. This is what happens when an economy collapses.
the printing press simply cannot save the country from a death spiral, but it doesn’t mean Maduro is prepared to let go of power. He has maintained that Venezuela's problems are due to economic warfare being waged by the United States to topple the oil-rich socialist regime.
Bremmer Rodrigues, who runs a bakery on the outskirts of Caracas, said his family are at a loss over what to do with their bags of bills. “It’s a mountain of cash, every day more and more.”
...
The shrinking value of the currency has meant that withdrawing the equivalent of $5 from an ATM produces brickloads of bills. Some ATMs now need to be refilled every few hours, because the machines can only hold so much cash. This means there are often a limited number of functioning ATMs in Caracas, and long queues to withdraw money.
But the wheelbarrows-full of bills have meant paying for everyday groceries has changed in the socialist utopia.
Sounds like one of our southern neighbors is ripe for a strong-man. Just needs a nice foreign enemy, and a stockpile of natural resources. Oh...
