Venezuela, once the richest country in Latin America, is now collapsing. http://www.independent.co.uk/news/world/americas/venezuelas-currency-hyper-inflation-oil-crisis-devalued-shop-keepers-weigh-notes-a7443596.html
The Venezuelan money (called “bolivar”) is in hyperinflation. The largest bolivar bill is now worth 5 cents or less. Some reports are saying 2 cents. Store shelves are literally empty and hundreds of thousands of people are having to cross the border into Columbia to get food. http://money.cnn.com/2016/12/05/news/economy/venezuela-new-20000-bolivar-note/
This is a great time for us all to pay attention. In my opinion this is a test case/social experiment in progress. If the powerful and wealthy are using this as a study on how you will react when they do this to you, then you should pay close attention to this so you can be ready.
Right now Venezuelans are experiencing a real life nightmare. They are having to choose between feeding themselves, their children or their pets. Some may blame this on socialism, and that is a huge factor, but when it gets down to the single human element, each individual is in trouble because they put their faith in a currency. It’s not the paper, it’s the currency itself. If it was all electronic things may have been even worse.
How Would you Fare in this Situation?
In my humble opinion there are 3 things an intelligent Venezuelan should be doing right now, and this will apply to you in your country when your currency fails.
- If they were wise, they would have already invested part of their portfolio in cold hard gold or silver. If this were the case, they could just get up and walk, but that’s #3 on this list.
- They should gather all hard assets such as jewelry, and gold/silver bullion (I would include guns if available). Take any large items of value and quickly attempt to trade them for smaller hard assets like gold/silver and valuable jewelry.
- Get out of the country as soon as possible. Those wishing to exit must understand that there is limited time because everybody else is leaving too. The neighboring countries soon grow tired of refugees, so the sooner the better.
These solutions apply to any country any time a collapse takes place. Don’t worry, if you love it , you can come back any time when things are better.
Your comments or suggestions are welcome.