Venezuelan

Meltdown

The meltdown in Venezuela’s currency is deepening as a crippling dollar shortage and a threat of oil sanctions take their toll on the economy. The black-market rate for the bolivar traded weaker than 8,700 per dollar for the first time, according to dolartoday.com on Friday, compared with the official rate of around 10 and a more widely used alternative rate of 2,757. That’s creating an illusion for foreigners observing the country’s stock market, which appears to be valued at $2.57 trillion -- bigger than Germany’s, France’s, India’s or Canada’s -- but is worth only $3 billion based on the black-market rate.

DYI: 

Governments when they horrifically mismanage their economies name the true free market the black market in attempt to cover up their gross incompetency.  This is exampled by President Richard Nixon who removed the last vestige of the gold standard as temporary and blamed unseen speculators.  Then it was off to the races as inflation soared during the 1970’s.  It was only stopped by extraordinarily high interest by Chairman Paul Volker of the Fed’s during the Reagan Administration.    

Any Venezuelan who was unsure about leaving the country and has the ability to do so is now convinced.  The mass exodus has begun.  This is the effect of socialism/communism turning a country on the threshold of 1^st world status teeming with hope, dreams and prosperity into a 3^rd world hell hole.

Videos:

Venezuela HYPERINFLATION Sparks CHAOS as People Can’t Afford Food in Black Market!

The Fall of Venezuela. Prepare Yourself Accordingly.

DYI