Annual inflation of 108,596%?
That means that what you bought in Caracas with 1 Bolivar last August now costs 1,085.96 Bolivars. If you can find anything to buy in the first place.
Or put another way, since your salary may not have increased, the 1 Bolivar in your pocket is now worth 1/20th of a centavo.
Worse, that means inflation has climbed a wee bit since June, when it was only 24,571%.
So it looks like they haven't quite got a handle on that yet.
And now, tomorrow, Maduro is going to issue the new fiat "Sovereign Bolivar", pegged (for the moment) at being worth 6,000,000 to $1US, a 95% devaluation.
In short, Venezuela's currency costs more to print than it's worth, so its only value is a substitute for Charmin Extra Strong.
Spot the trend:
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| Weimar |
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| Zimbabwe |
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| Somalia |
If you're keeping score at Home, Venezuela is currently at October 14, 1923 on that chart.
(Don't get cocky: the US is currently at April 1922 on that chart, right now.)
This is why the surrounding nations are demanding passports (which 99% of Venezuelans ain't got, nor can get) from any attempted refugees streaming over their borders, why Venezuelans ate all the zoo animals some months back, and why we should be smuggling in AK-47s and ammunition leftovers (seized in the Caribbean during our 1983 Grenada field trip) to Venezuelan beaches every night at midnight, and passing them out gratis, until they shoot the current regime to doll rags, and get back to a reality-based government of their own choosing, and that works, instead of a communist dictatorship "paradise" which is starving them to death in a country that used to export oil by the supertanker.
This is what socialism does, since ever.
It's also why espousing it anywhere seriously should be an automatic death warrant, or at the very least, grounds for brass knuckles and horsewhipping, so you could eat soft foods for the rest of your life afterwards, while the whip scars healed.
But people will buy snake oil, and once they get bitten, and find out its poison, it's too late. And you can never get the family cow back by returning the "magic" beans.
This always ends in bloodshed.
Venezuela will be no different.
Say,...has anybody noticed the new president of Mexico...?
Your neighbors' quirky communism is all fun and games, until it gets to this stage to keep them from taking your stuff, simply because they can, and/or think they're entitled to it:
And make no mistake: you can too vote your way out of this, at least for a while.
But when the losers won't take "No!" for an answer, and keep coming back, sooner or later, you're going to have start killing m*****f*****s.
Remember that every time you hear "Not my president!"
It's the opening gambit in the Triple-Dog Dare.
Sorry, but reality is a bitch like that.
Start wrapping your head around it, before someone wraps your head around a crowbar.
4 comments:
Not to split hairs but splitting hairs; last I looked gold was just skosh of $1200/ounce, so if you're gonna go $/RM we're somewhere in 1920.
Real money; gold, silver and brass/nickel/copper/lead formed and properly fueled by sulfur, nitrates and charcoal
BG
No hairs to split.
Gold, right this minute, is on a dip. A couple of months ago, it was closer to $1400/oz. Just this decade, the spot price has fluctuated between barely above $1K/oz to nearly $2K/oz.
https://www.moneymetals.com/precious-metals-charts/gold-price
I averaged that range to a nominal $1500/oz for the calculations merely to diminish that recent volatility and its impact on those calculations.
(And no one is selling gold to anyone else at retail for the spot price, unless they fly your flag in the circle outside the United Nations.)
So if/when the dollar tumbles, which is likelier than not any day that ends in "y" in the next 20 years, which way will that spot price go...?
We are where we are, and it isn't getting any better day over day, or year over year.
Unlike Venezuela, we're just not doing it in a five-year flaming meteor headed for impact at terminal velocity.
...Yet.
What is with Hispanic women anymore? They used to be beautiful dark haired Goddesses-now, they all look maids on the way to pick up the dry cleaning. I wish that tiresome AOC would just go far away never to return. And take her Native American friend, EW with her. There must be a squirrel hole somewhere.
I expect to hear of shootings, stabbings, and insurrection, soon from MaduroLand. I'm surprised that the bubble has held as long as it has. The descent from educated, first world, cultured Latinos to shambling barefoot day workers and refugees, was surprisingly swift. Makes me realize the enormous bullet we dodged with Hildabeast losing. Per usual, our military will eventually be sent to kick ass and clean up the mess. Then we can all pay more taxes to make Venezuela great again. It seems that we have been on this circular merry go round for the past 100 years. Sigh.
OK, gotcha on the AU price averaging, though many of us are LOVING the current dip; it's like seeing bricks of .22LR at twelve bucks or so. If/when the dollar tumbles the time to buy metals (and ammo) is long past
BG
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