One U.S. dollar will buy you nearly 925,000 gallons of gasoline in Venezuela, which may sound like a dream come true, but the harsh reality is that the country is facing possibly the worst economic crisis in modern history, The Drive reported.
For five years Venezuela has been locked in a brutal recession, with hyperinflation of the Venezuelan bolivar approaching 1 million percent.
Foreign exchange reserves have fallen by about $2.5 billion in the past few months while the government has defaulted on most of the outstanding bonds, which are estimated to amount to $60 billion, Business Insider noted.
The situation is dire.
Venezuelans are starving amid food shortages, Reuters reported, and now the government of President Nicolás Maduro is losing support after his alleged attempted assassination over the weekend.
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7 comments:
I need 10k worth -whats the shipping and storage cost
Good luck getting out of there alive with it.
Bernie Sanders utopia.
Socialism, it fails every time.
I recently bought a condo on the water for 22k. It was 9 million when things settle down I will sell it make another few million.
I just got back from there, and I lived like a king. US dollar bills got me anything, and anyone I wanted. I spent time and nights with some of the most beautiful women and girls in the city. I ate steak every night, the best wines, wonderful week.
This is what happens when governments resist Western Banks and the US Dollar hegemony.
Their societies and economies are crushed.
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