a visual guide of Venezuela's soaring inflation VOL. glorified toilet paper

[ninjahood]

IN FOCUS
See how many bills it took to buy a chicken in Venezuela
The once-booming nation is now suffering from Soviet-style product shortages and a mass exodus of citizens fleeing for other South American countries.

/ Updated Aug.21.2018 / 4:25 PM ET7 PHOTOS

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Banks closed Monday in Venezuela as they prepared to release the "sovereign bolivar," a new currency printed with five fewer zeroes in a bid to tame soaring inflation.

Here are a few pictures that illustrate the limited purchasing power of the old bolivar.

This stack of 14,600,000 bolivars, or about $2.22 U.S., would buy this chicken at a mini-market in Catia, a low-income neighborhood of Caracas on Aug. 16.

— Carlos Garcia Rawlins / Reuters

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A kilogram, or 2.2 pounds, of tomatoes cost 5,000,000 bolivars, or 76 U.S. cents.

Venezuela was once among Latin America's most prosperous nations, holding the world's largest proven oil reserves, but a recent fall in oil prices accompanied by corruption and mismanagement under two decades of socialist rule have left the economy in a historic economic and political crisis.

— Carlos Garcia Rawlins / Reuters

• Share

A roll of toilet paper was priced at 2,600,000 bolivars, or 40 cents.

The International Monetary Fund has estimated that Venezuela will have 1 million percent inflation by year-end.

— Carlos Garcia Rawlins / Reuters

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A kilogram of carrots was 3,000,000 bolivars, or 46 cents.

— Carlos Garcia Rawlins / Reuters

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A bar of soap was 3,500,000 bolivars, or 53 cents.

— Carlos Garcia Rawlins / Reuters

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A package of diapers was 8,000,000 bolivars, or $1.22.

— Carlos Garcia Rawlins / Reuters

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A kilogram, or 2.2 pounds, of meat was 9,500,000 bolivars, or $1.45.

President Nicolas Maduro, re-elected to a second term in May in a vote widely condemned as rigged, says his government is the victim of an “economic war” led by political adversaries with the help of Washington, and accuses the United States of seeking to overthrow him.

The United States has denied the accusations. But it has described Maduro, a former bus driver and union leader, as a dictator and imposed several rounds of financial sanctions against his government and top officials.

— Carlos Garcia Rawlins / Reuters


https://www.nbcnews.com/slideshow/see-how-many-bills-it-took-buy-chicken-venezuela-n902491

 

[nawghtyhare]

IN FOCUS
See how many bills it took to buy a chicken in Venezuela
The once-booming nation is now suffering from Soviet-style product shortages and a mass exodus of citizens fleeing for other South American countries.

/ Updated Aug.21.2018 / 4:25 PM ET7 PHOTOS

• SHARE THIS —

Banks closed Monday in Venezuela as they prepared to release the "sovereign bolivar," a new currency printed with five fewer zeroes in a bid to tame soaring inflation.

Here are a few pictures that illustrate the limited purchasing power of the old bolivar.

This stack of 14,600,000 bolivars, or about $2.22 U.S., would buy this chicken at a mini-market in Catia, a low-income neighborhood of Caracas on Aug. 16.

— Carlos Garcia Rawlins / Reuters

• 
  
  
  • Share

A kilogram, or 2.2 pounds, of tomatoes cost 5,000,000 bolivars, or 76 U.S. cents.

Venezuela was once among Latin America's most prosperous nations, holding the world's largest proven oil reserves, but a recent fall in oil prices accompanied by corruption and mismanagement under two decades of socialist rule have left the economy in a historic economic and political crisis.

— Carlos Garcia Rawlins / Reuters

• 
  
  
  • Share

A roll of toilet paper was priced at 2,600,000 bolivars, or 40 cents.

The International Monetary Fund has estimated that Venezuela will have 1 million percent inflation by year-end.

— Carlos Garcia Rawlins / Reuters

• 
  
  
  • Share

A kilogram of carrots was 3,000,000 bolivars, or 46 cents.

— Carlos Garcia Rawlins / Reuters

• 
  
  
  • Share

A bar of soap was 3,500,000 bolivars, or 53 cents.

— Carlos Garcia Rawlins / Reuters

• 
  
  
  • Share

A package of diapers was 8,000,000 bolivars, or $1.22.

— Carlos Garcia Rawlins / Reuters

• 
  
  
  • Share

A kilogram, or 2.2 pounds, of meat was 9,500,000 bolivars, or $1.45.

President Nicolas Maduro, re-elected to a second term in May in a vote widely condemned as rigged, says his government is the victim of an “economic war” led by political adversaries with the help of Washington, and accuses the United States of seeking to overthrow him.

The United States has denied the accusations. But it has described Maduro, a former bus driver and union leader, as a dictator and imposed several rounds of financial sanctions against his government and top officials.

— Carlos Garcia Rawlins / Reuters


https://www.nbcnews.com/slideshow/see-how-many-bills-it-took-buy-chicken-venezuela-n902491

damn
super cheap
id be rich as hell in venezuela

 

[dathbgboy]

That's the only thing I got from the photos, I'd be a king in Venuzuela.

 

[sharpshooter718]

The US been trying to destroy venezuela for years....

 

[superantigen]

At this point, wouldn't it be cheaper to wipe one's bottom with the cash?

...

 

[RIP sleazyy]

damn
super cheap
id be rich as hell in venezuela

I was going down the list thinking I could feed a few small towns.

 

[aquatic barefoot]

This is terrible; imagine living in conditions like this?

 

[TURBO UNO]

Damn.

So a pair of Air Jordans would require hefty bags full of money. Word to Tony Montana.

 

[Captain Slappy]

Worth less than the paper its printed on.

I figure they'll do that here one day so they can take cash away and people will be happy that money is all electronic.

 

[ninjahood]

At this point, wouldn't it be cheaper to wipe one's bottom with the cash?

...

that's what i was thinking

 

[Thats My Word]

How much for da roma tomatoes?
About porsche schmoney.

 

[GTA 809]

Brb, changing $20 USD to old bolivars so I can make it rain in the club.

 

[ninjahood]

Brb, changing $20 USD to old bolivars so I can make it rain in the club.

think those thots would prefer a meal instead

 

[Captain Slappy]

Brb, changing $20 USD to old bolivars so I can make it rain in the club.

I think you must have to throw real diamonds and gold bricks at Venezuelan strippers to not get cursed out.
They probably have to use leaf blowers to clear the floors of this monopoly money.

 

[fluid hips]

Hugo Chavez ain't walking through that door

 

[Nereyda Vuelve Por Dios]

Its surreal thier current economic climate. Very dystopian.

Especially with a country with so many people and such a gold mine in oil

 

[richiecotite]

The average adult in Venezuela lost 24 lbs in 2017. They straight up don’t have a regular source of nutrition. Especially with the earthquake that just hit, Venezuela is going to face even harder times (which is hard to imagine)

 

[nawghtyhare]

Especially with the earthquake that just hit,

the us has a weather and earthquake machine