10 Incredible Photos From Venezuela Show The Severe Risks Of Currency Devaluation
– Paper currency in Venezuela is now worth less than toilet paper – Incredible Reuters photos highlight the disaster that can become of fiat (both paper & digital) currency devaluations – 2,600,000 paper or electronic bolivars for one roll of toilet paper – 14,000,000 bolivars for one chicken highlights the disastrous decline in the standard of living in the socialist dictatorship – One gold coin (1 ounce) could buy over 1,200 chickens or a small chicken farm producing poultry and eggs – Economists including the IMF are predicting that Venezuela's inflation rate could exceed 1,000,000% this year – Huge amounts of currency to [...]