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IPFS News Link • Venezuela

Venezuela's Central Bank Will Launch Digital Currency Oct. 1 to "Stabilize the Economy&quot

• Organic Prepper - J G Martinez

I have been home for over two months now, and I have only acquired four banknotes of 500,000 Bolivares each. Finding cash is a pain. I went to see if the bank could unlock my old account. Unfortunately, there is no way, and I will have to open a new one. And wait for God knows how much time for something as simple as an ATM card. The wait can be months in this small town.

Anyway, with those four banknotes, I bought a small plastic bag of fresh sardines. Considering we're over 120km far away from the sea and fuel is scarce, I believe it's an achievement at this price. Enough for dinner and breakfast for our regrettably near-blind cat and me. Kiddo is not a big fan of fish unless there are chips. Maybe he's got some Brit genes here and there.

We have enough resources and skilled people to make this country a decent place to live

Venezuela's disaster with paper money is because of the (extremely uneducated/unwise/inept) politicians trying to avoid one iceberg after another. However, given the actual state, where nobody can travel from one city to another because there's no fuel, one can reasonably label it as a collapse. 

I'm not by any means a specialist in the economy. However, unless you produce the most amount of whatever you can inside your borders, your currency is going to lose value. Our Central Bank NEVER was a real one. It was NEVER independent of the government structure. The government didn't bat an eyelash before they devaluated our currency. Why? Because they needed to collapse the country to blame someone else. Just like the Caribbean.