Venezuela to Sell Gold Certificates to Pensioners as Inflation Soars
-- Published: Wednesday, 29 August 2018 | Print | Disqus
– Currency has become worthless in Venezuela’s hyperinflation – Venezuela was once one of the wealthiest countries in South America – Currency collapse due to massive currency “printing,” digital currency creation and misguided socialist government – Toilet paper roll costs 2.6m bolivars or 0.40 cents but a gold coin (1 oz) can buy over 3,000 toilet rolls – Chicken costs 14.6m bolivars or $2.20 but a gold coin (1 oz) can buy over 540 chickens – Indebted nations throughout the world are vulnerable and some are already seeing sharp currency depreciation – Turkey, Syria, Iran, South Africa, Argentina & others – Risk of hyperinflation in US, EU & UK is low in short-term but real risk of deflation and then stagflation
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