Venezuela Massive DEVALUATION of Currency in Panic Attempt to Reverse the COLLAPSE! (Video)
Venezuela’s economy is gone. It’s dead. There are no signs of life. Crime is rampant in the country, chaos is spreading, and the currency is worthless. In a panic attempt to restore the shreds of fossils that remain, Venezuela has decided to further devalue their currency against the US dollar.
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In This Episode:
Venezuela’s economy is gone. It’s d... There are no signs of l.... C.... is rampant in the country, chaos is spreading, and the currency is worthless. In a panic attempt to restore the shreds of fossils that remain, Venezuela has decided to further devalue their currency against the US dollar.
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Poverty,Unemployment,Government,Hyperinflation,Economy,Crisis,collapse,global,economic,america,US,debt,crash,financial,Deflation,inflation,GDP,recession,fed,central bank,unemployment rate,venezuela,caracas,OPEC,oil,crude oil,civil unrest,trump,US dollar
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I was in Indonesia when they had crisis in 1998, currency lost around 80% value, and then the government raised interest rates to around 70 percent, and it worked
The situation here could be solved by devaluation, the thing is that our country is not producing anything (but oil), we are importing all food and medicine, all the income by selling oil is spent there, also the price of oil is low and we produce less every month, corruption and bureaucracy is destroying our oil company. And government keep increasing salary so inflation is going crazy, our currency will keep going lower, there is no way to stop it, at least not with this government...
70%?? That doesn't sound like it worked but I'm not an economist. :(
It stopped the currency from going lower, finally stabilized although at a much lower level than before crisis. So it can work depending on situation
As always, you always deliver the truth David. Thanks a bunch! :)
Thank you for watching it.
we have 2 socialists countries on the collapse process, Venezuela and Greece. One can "print" the other one can only "cut". but the both have the same result: poverty, hungry people, crime and revolution in the air. Thoses 2 are a red flashing lights for the global citizens. maybe to grind us all down is the only way we will accept one world currency?
Dave I like your work. I've been listening to you for 4-5 years now, but I did never post a comment on youtube. Because I hate google and is anti-privacy laws. so I never opened an account. Your a great reporter, with good facts, and simple analysis to understand. Keep up the good work!
Nikky
you're
upvoted.
This is for sad for my country :( ... we need a change of government soon to save our economy