Weaving Worthless Central Bank Notes Into Art To Survive
The people in Venezuela are currently said to be dealing with the highest inflation rate in the world. Though, the hyperinflation that they've been struggling with, still isn't the most crippling hyperinflation that any country in the world has ever seen in history. The people in the region are still suffering greatly however, with a large majority that have seen their standard of living drastically decrease over the last several years.
The hyperinflation in the country is alleged to have recently surpassed 18,000 percent and some economists predict that it might grow to more than 100,000 percent by the end of the year.
A variety of chat rooms and Facebook pages have been created that have been helping people to connect with one another and find items that they can trade. These are the sorts of exchanges that you can find taking place:
- parking lot attendants accepting baguettes as payment
- street vendors taking sugar in exchange for flour
- haircuts being exchanged for bananas, eggs, or yuccas
- cigarettes being exchanged for cab rides
- burritos and tacos in exchange for packages of paper napkins
- dishwasher repair services in exchange for spaghetti and beef
Some folks have said that they are a big fan of this method of trading and they are willing to work with their customers when they come in looking for things that they need.
One plumber from Venezuela says that he's open to accepting a variety of payments in exchange for his services, things like soda, mayonnaise, sugar, rice, flour, and vegetable oil.
Some individuals have started taking those failed central bank notes and weaving them into various products to sell for food and other necessities.
Some other artists say that they've been able to sell their money art for $20. And along with the purses and other art items that have been made, some artists are also painting and drawing on the worthless fiat notes and selling those as well.
The annual inflation rate for Venezuela is alleged to be 10,500 at the moment and they expect that it will surpass 13,000 by the end of this year.
It's estimated that over 1 million people have already fled the country, looking for a better way of life elsewhere. And for many of those who are still living in the region, they still struggle with food shortages, political unrest, scarce medical supplies, and other worries.
In many ways, the authorities in Venezuela have only taken further steps to worsen the problem and speed-up the hyperinflation spiral that they have been going through. Some say that the situation is so unstable that it's practically impossible to try and estimate what the hyperinflation rate for the year might be.
Pics:
Reuters via carbonated.tv/news/venezuela-bolivar-devalue-shopkeepers-weighing-money-instead-counting
Wes Michael Tomaselli via Time
Youtube - via youtube.com/watch?v=OBkmdy6SkmU
Sources:
http://fortune.com/2018/05/07/venezuela-bolivar-currency-bartering/
http://time.com/5265941/venezuelan-migrants-bolivares-banknotes/
https://sg.news.yahoo.com/venezuela-inflation-hits-13-779-percent-parliament-says-184515699.html
http://www.miamiherald.com/news/nation-world/world/americas/venezuela/article210282264.html
http://www.miamiherald.com/news/nation-world/world/americas/venezuela/article194511929.html
http://news.kuwaittimes.net/website/worthless-currency-becomes-art-venezuela/
https://www.indy100.com/article/venezuela-currency-people-woven-goods-hyperinflation-8209996
Related Posts:
Venezuela: Starving For Some Freedom
https://steemit.com/venezuela/@doitvoluntarily/venezuela-starving-for-some-freedom
OMG "The hyperinflation in the country is alleged to have recently surpassed 18,000 percent"
Its surprising or shocking ?
I am in shock after observing hyperinflation surpassed 18,000 percent & predict that it might grow to more than 100,000 I think other countries should think about Venezuela situations atleast Venezuelian are also humans thanks for this great post @doitvoluntarily .
In fact, the unfortunate thing is that in practice hyperinflation is much worse: it is buying something today at 1 $ and tomorrow to see that it is worth 10. It is a genocide and there is no way to explain it from the economic point of view.
Bueno paisano, puede que si haya alguna explicación. Puede que la haya, ya que nada surge por pura generación espontánea. ;)
A lo mejor y hasta escribo más tarde un post con mayores detalles al respecto.
No, claro que la hay. Por supuesto que la hay. A lo que me refiero es a que desde el punto de vista económico, desde lo que nos enseñaron en la universidad, a la teoría económica generalmente aceptada, no hay explicación posible. Por ejemplo, este es el único país del mundo en el que los activos en vez de depreciarse con el uso, se revalorizan. Podríamos hacer una publicación con veinte mil razones de porque está pasando todo esto en nuestro país, pues las cosas malas nunca vienen sin causa.
Así es paisano, estoy de acuerdo contigo en tu apreciación. Y tal como te lo mencioné antes, he aquí el post con el que amenacé dar mayores detalles al respecto. }:)
Es realmente una crisis terrible la que afecta a mi pais, dia a dia año tras año todos vemos las posibles soluciones, tal cual como los espectadores que vemos las fallas del arbitro y los jugadores, pero creo que es imprescindible que nos volvamos activos participantes del destino del pais y no solo mostremos este gran talento para el debate, es un buen momento para actuar y participar, gran post muy buenos comentarios de todos....
this is a sign of what is to come, i believe. this is the end and base of our current systems. we're starting to build this resiliency of things we actually need now. the worthless bank notes do make beautiful art tho!! at least they are good for something. these people are so resilient.. resteemed... good article, friend.
👍👍👍
Thank u so much for the publication dear friend @doitvoluntarily. Sadly, you fall short in your assessments and approaches. In practice, the hyperinflation that my country suffers, was never seen by any country in the world at any time in history; all economic theories will be rewritten from the "Venezuela case". Thank God, Steemit has become the boat of salvation for thousands and thousands of Venezuelans, including myself. Greetings and a big hug friend.
It is a sad reality what happens in our country, those of us who are still here, struggling day after day to support this inflation if we see an improvement in how to give the day's food to those who can and do not settle when they get to eat .. thanks to GOD there are alternatives such as STEEMIT that provides the apollo and give the opportunity to those who need it and their people are supportive to our country thanks good post thanks STEEMIT for giving us your voice to go to all corners of the world thanks for your support
look out for yourselves look out for each other. do not lose hope! all hope is hope for change for the better. united we stand divided we fall
Bueno amigo @doitvoluntarily soy una venezolana más afectada por la terrible situación que atraviesa nuestra amada Venezuela. Lamentablemente nos tocó a los Venezolanos, pero así como otras naciones también han tenido sus crisis económicas y han sabido salir de ella, también acá en Venezuela se puede salir de la crisis. La esperanza es lo último que se pierde, mientras haya esperanza hay vida. Debemos ser optimista y luchar con esta situación junto a nuestros familiares. Esta situación nos ha enseñado a ser ahorrativos, a economizar, a compartir, ser unido y ayudar nos unos a otros. Debemos verle lo positivo. Anteriormente votabamos la comida, derrochabamos el dinero ect, debemos aprender algo de esta situación. Gracias por tu artículo. Un gran saludo, Nos vemos en la cima.
Government and Economics are a terrible combination.
In socialist Venezuela, inflation is 18,000% and people are eating pets.
This is what the Elite want for America and other nations. They must be stopped!
#Venezuela #debt #inflation