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Title: throwing money on the streets | Venezuelans Post by: hugeblack on March 12, 2019, 06:44:46 PM Venezuela, that country far from my homeland "12,743 km," I may not have much information about it, but my talk is not political.
There is not much talk about it in the news and the daily newspapers so I'm not following what's happening in that country. What stopped me is this picture. How can a state become such a catastrophic situation? Quote from: https://www.reddit.com/r/Bitcoin/comments/b02l34/venezuelans_are_just_throwing_money_on_the/ Just looking at Google showed me that that country is rich in oil "296.5 billion barrels," is it because of the political situation or are we witnessing the end of the casa period, the beginning of the fall of money bound promises. Title: Re: throwing money on the streets | Venezuelans Post by: paxmao on March 12, 2019, 10:58:16 PM Venezuela, that country far from my homeland "12,743 km," I may not have much information about it, but my talk is not political. There is not much talk about it in the news and the daily newspapers so I'm not following what's happening in that country. .. Looks like the .... pre-war Germany during the Republic of Weimar http://3.bp.blogspot.com/-zyzH7Lwrl4c/U5vA2ki7U_I/AAAAAAAAJbA/5N5mbxFgMvM/s1600/Children+playing+with+stacks+of+hyperinflated+currency+during+the+Weimar+Republic,+1922+(1).jpg]Republic of Weimar Title: Re: throwing money on the streets | Venezuelans Post by: qwertyup23 on March 13, 2019, 04:28:15 AM Well according to this article (https://www.reuters.com/article/us-venezuela-economy/imf-projects-venezuela-inflation-will-hit-1000000-percent-in-2018-idUSKBN1KD2L9), IMF determined that the inflation of venezuel would be 1,000,000% for 2018 and 10,000,000% for 2019.
As crazy as it may sound, that is the situation of the country right now. The supply of currency is significantly high making its value worthless to purchase any products. Not to mention, all of their supply of food, water, etc. are scarce in supply. Title: Re: throwing money on the streets | Venezuelans Post by: Jet Cash on March 13, 2019, 03:13:37 PM How can a state become such a catastrophic situation? It's quite easy. Just have a load of minerals and assets that the ruling elite wants. They are trying it with Syria, but Assad is a stronger and cleverer man than Maduro. They achieved it with Greece, and they are trying it in Canada, Iraly, France and the UK. China has learnt from the US, and they are trying an economic variant in Africa and some other countries. Title: Re: throwing money on the streets | Venezuelans Post by: Jet Cash on March 17, 2019, 02:19:41 PM Wasn't this the result of a break in at a bank, and the thieves stole computers and other valuables, and didn't bother with the banknotes. It isn't the population that is discarding the currency, but the thieves who can't be bothered to transport it.
Title: Re: throwing money on the streets | Venezuelans Post by: andulolika on March 17, 2019, 02:23:06 PM Recycle that shit.
Title: Re: throwing money on the streets | Venezuelans Post by: joniboini on March 29, 2019, 05:55:27 AM We seriously need something to prevent crisis like this to happens again. The key is sound money, not arbitrary money created out of debt.
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![http://3.bp.blogspot.com/-zyzH7Lwrl4c/U5vA2ki7U_I/AAAAAAAAJbA/5N5mbxFgMvM/s1600/Children+playing+with+stacks+of+hyperinflated+currency+during+the+Weimar+Republic,+1922+(1).jpg]Republic of Weimar](http://3.bp.blogspot.com/-zyzH7Lwrl4c/U5vA2ki7U_I/AAAAAAAAJbA/5N5mbxFgMvM/s1600/Children+playing+with+stacks+of+hyperinflated+currency+during+the+Weimar+Republic,+1922+(1).jpg]Republic of Weimar){kind=link}