Venezuela, Gallery: Stacks of Nearly Worthless Cash Required to Buy Common ItemsAugust 17th, 2018I’ve been teaching my children about inflation, fiat currencies and the end result of the scam. This photo gallery is excellent for that purpose.Via: Reuters:Jittery Venezuelans on Friday rushed to shops and formed long lines in preparation for a monetary overhaul that will remove five zeros from prices in response to hyperinflation that has made cash increasingly worthless.Shoppers sought to ensure their homes were stocked with food before the measure decreed by President Nicolas Maduro takes effect on Monday, on concerns that confusion among merchants and overtaxed banking systems could make commerce impossible.
Inflation hit 82,700 percent in July as the country’s socialist economic model continues to unravel, meaning purchases of basic items such as a bar of soap or a kilo of tomatoes require piles of cash that is often difficult to obtain.
Topic: Venezuela hyperinflation - teach your kids about it (Read 465 times)