• GoldIsCurrencyGoldIsCurrency Posts: 1,794 Gold ✭✭✭✭✭
    @GoldMatters I guess that is what happens when fiat devalues to the extent that the Bolivar has. I saw a video showing a knapsack stuffed full of bundled stacks of Bolivars that in total would be worth less than $20 and less every day as it devalues further. I also read not long ago that printing bolivars cost more to print then what they were worth. Scary stuff.
  • GoldmattersGoldmatters Posts: 3,993 Admin
    @GoldIsCurrency Scary indeed.....

    "But the high demand for nearly worthless currency notes has also presented a financial burden for the cash-strapped government, which also lacks raw materials to print its own money. Since last year, Venezuela has had to pay hundreds of millions of dollars to printing companies to feed its economy with bolivar currency."

    Wow. Not sure whether to laugh or cry. Probably cry is the most appropriate response.
  • GoldIsCurrencyGoldIsCurrency Posts: 1,794 Gold ✭✭✭✭✭
    @GoldMatters It sure is sad and really makes you think about how bad things can get.
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