Venezuela is hosting a "currency failure event" Monday in honor of Socialism and Socialist equality.
- Yay! Everyone can be equally poor!
America's Democratic Socialists would have preferred it if Venezuela's Democratic Socialist Maduro could have somehow delayed doing this until after the US 2018 mid-term elections.
- Let's see if they can somehow 'spin' this as a reason to vote Democrat anyway in November, shall we?
Monday morning, tomorrow, Venezuela is introducing a 'new' currency (the 'Sovereign Bolivar') to replace their 'old' currency (the 'Bolivar').
- The official exchange rate will be $1USD to 6 million Bolivars. [read: a 95% devaluation].
Of course, being good Democratic Socialists, both TAXES and PRICES will be officially hiked too.
- Yeah, this should 'fix' Venezuela's raging case of inflation, which has surpassed even the Weimar Republic with their Chavismo-inspired 108,596% inflation rate.
Make no mistake about this:
1. Fiat currency hyperinflation destroys the wealth of any holders of that fiat currency.
- In Weimar, only hard assets (mainly real estate and bullion) held any value during hyperinflation; it's the same in Venezuela today.
2. This is exactly what the intersection of ignorant, incompetent, and incapable [read: Socialism] accomplishes every single time it's tried.
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