Hyperinflation in Venezuela has prices going up 80% every month

Rev 6:6 NAS And I heard something like a voice in the center of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not damage the oil and the wine.”

Important Takeaways:

  • Venezuelans Throw Worthless Money in Trash Amid Massive Inflation
  • “As Venezuela sinks deeper and deeper into the first hyperinflation the Western Hemisphere has seen in a generation, bolivar banknotes have come to be worth basically nothing,”
  • Caracas Chronicles news website said 20-bolivar bills were once worth about $2 US each but are now equal $0.0001
  • Prices on goods go up about 80 percent every month
  • “Rule No. 1 of surviving hyperinflation is simple: Get rid of your money,” The second you’re paid, you run out as fast as you can to buy something — anything — while you can still afford it. It’s better to hold almost any asset than money, because assets hold their value and money doesn’t.”
  • The country experienced an economic collapse in 2014 under its socialist government and has not rebounded. There are shortages of food, medicine, and basic necessities throughout the country.

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