# venezuela is weighing its money



## terri9630 (Jun 2, 2016)

I feel horrible for these people.

http://www.independent.co.uk/news/w...valued-shop-keepers-weigh-notes-a7443596.html

Inflation in*Venezuela*is expected to reach 720 per cent this year, with the largest bolívar bill now worth just five US cents on the black market.*

Some shopkeepers have reportedly taken to weighing rather than counting the wads of cash customers hand them, and standard-size wallets have become all but useless in the*socialist South American*state. Instead, many people stuff huge volumes of cash into handbags, money belts, or backpacks, in scenes analysts have said are suggestive of "runaway" inflation.


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## Tweto (Nov 26, 2011)

This might be horrible for them, but when will it happen here?

Exactly the same thing happened before WWII in Germany. Only the people that had gold and silver did ok. On the history channel, they pointed out that the German Jews with some precious metals were the only ones that could escape to the US.

A word to the wise.


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## CrackbottomLouis (May 20, 2012)

When it happens here it will be worse. There buyers and sellers are relying mainly on a black market of US currency. When 5he US currency goes what will be the black market currency of choice? None. When ours tanks so do the others. It will be bartertown.


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## Tweto (Nov 26, 2011)

It occurred to me that Venezuela isn't first to have run a way inflation. India is now having currency problems, and Italy is having bank failure problems, and the largest bank in Europe, Deutsche bank is on the verge of failure.

But the first country to have hyper inflation is Greece.

It might not happen here in the US for years, but once the dominos start falling we are in line to get toppled.


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## bkt (Oct 10, 2008)

I picked up a few of these bank notes because they're great reminders of what can happen:










That's pretty extreme and I don't think it will get quite that nuts here. But it doesn't have to. We don't need hyperinflation to really mess things up - severe inflation will do the job.

When your currency is not a commodity - like gold and silver and copper are commodities - you invite inflation like this.


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