We Don’t Count the Cash, We Weigh It
‘Runaway inflation’ in Venezuela has reached the point where bank notes are being weighed rather than counted.
The country’s currency, the bolivar has devalued so much that traders have given up counting the huge wads of banknotes handed over by their customers.
Last month it emerged that new 20,000 bolivar notes will be produced to keep up with the rate of inflation. At the moment the highest banknote in circulation is 100 bolivars.
Current Prices on popular forms of Gold Bullion
Traders have taken to weighing money rather than counting it because of runaway inflation in Venezuela
Describing the situation at his delicatessen counter in Caracas, Humberto Gonzalez told Bloomberg that the sheer volume of bills needed to pay for everyday items makes life hard for traders.
He said: ‘It’s sad. At this point, I think the cheese is worth more.’
The inflation rate in Venezuela is expected to reach 480 percent this year, and 1,600 percent by 2017.
economic crisis deepens.
Jesus Casique, financial director at consulting firm Capital Market Finance, told Bloomberg: ‘When they start weighing cash, it’s a sign of runaway inflation.
‘But Venezuelans don’t know just how bad it is because the government refuses to publish figures.’
The post We Don’t Count the Cash, We Weigh It appeared first on LewRockwell.
Source: http://freedombunker.com/2016/11/24/we-dont-count-the-cash-we-weigh-it/
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).