Venezuela to tackle inflation by removing zeros from their currency

[martybegan]

It's like fixing a leaking faucet on a sinking Titanic.

Venezuela to remove five zeroes from ailing currency

Venezuela will remove five zeroes from the bolivar currency rather than the three zeroes originally planned, President Nicolas Maduro said on Wednesday, in an effort to keep up with inflation projected to reach 1 million percent this year.

They should ask Zimbabwe if doing this helped slow the rate of inflation.

 

[BasicHumanUnit]

Well if that doesn't represent the crazy "solutions" of Socialism....NOTHING does

And it's simply mind blowing to think there are dumb asstards here in the land of plenty who want to bring that garbage to America!

 

[EverCurious]

As long as the sheep believe in the currency it'll work - though I think the fact that they've eaten all the dogs and are down to shoe laces is going to have a negative impact...

Sigh...

 

[Claudette]

Remove the zero's??

I'd like to meet the economist who came up with that.

Let us know if it works. LOL

 

[CrusaderFrank]

When did American Progressive democrat Socialist stop pointing to Venezuela as a nation we need to emulate?

"The problem in Venezuela is not that socialism has been poorly implemented but that socialism has been faithfully implemented" -- DJT MAGA

 

[TroglocratsRdumb]

NYT "In the last six months of 2017, 210,000 Venezuelans came to Colombia, according to officials"
The Venezuelans will have to use force to remove Moduro out of power.

 

[CrusaderFrank]

Venezuela is a democrat Socialist success story! The Chavez family is now worth between $4 to 5 Billion!

Good thing people are unarmed, eh kids?

Venezuela bans private gun owners

 

[Claudette]

Well it certainly is a Socialist utopia.

 

[blastoff]

Think I read France did that in the 70s? Had to reprint paper currency eliminating lots of zeros, and on the new bills adding NF before the demoninations amounts so people would know they were New Francs.

 

[martybegan]

Think I read France did that in the 70s? Had to reprint paper currency eliminating lots of zeros, and on the new bills adding NF before the demoninations amounts so people would know they were New Francs.

it can work IF AND ONLY IF economic reforms are made that deal with causes the runaway inflation at the same time.

 

[RoshawnMarkwees]

It's like fixing a leaking faucet on a sinking Titanic.

More like drilling holes to let the water out.

 

[RoshawnMarkwees]

Now their richest people will become hundred-aires.

 

[Skull]

How the richest nation in Sud America is faring today:

Inflation to Hit 1 Million Percent in Collapsing, Socialist Venezuela