Venezuela hyperinflation hits 10 million percent.

[spat]

They voted for socialism, demanded it... They got it- enjoy..

Just a very short time after Venezuela voted for Socialism, individual states in the US were voting to have their guns and the right to own them taken away, We learned nothing.. As a society, we are demanding tyranny.. You receive and deserve the government you ask for ... bob

Unfortunately we get the government that the average person deserves.

Half the country deserves the hell they are voting for, but the rest of us do not.

 

[GOPerfect]

Venezuela slashes SIX ZEROES from its inflation-battered currency

'All monetary amounts expressed in national currency will be divided by one million,' the bank of President Nicolas Maduro's beleaguered leftist government said.

www.dailymail.co.uk

 

[Saltwater60]

The socialist US states instead of inflation devalue our earnings by increasing taxes (aka: fees and fines.) They nickle and dime us to death, a slow incremental con job hoping we don't notice. An extra dollar for your driver's license, surcharge on traffic tickets, .25% increase on local sales tax. Bleeding us $.01 penny at a time; it all adds up.

The federal government also will not let NYS and CA fail so they would be bailed out time and time again to protect the socialists image. The federal government prints money and would do so to protect its path to socialism

 

[spat]

The federal government also will not let NYS and CA fail so they would be bailed out time and time again to protect the socialists image. The federal government prints money and would do so to protect its path to socialism

The real danger with printing money for the US is that it won't be obvious that we've printed too much before it's all in circulation.


We're about to dump trillions of printed money into the economy and pretend it's "infrastructure".

Maybe that's the straw that breaks the camels back, but we won't know until it's broken.

Our status as the worlds reserve currency means this will *not* go down like some banana republic where you could see the damage and turn off the presses at say 10% annual inflation and just go back to normal.


If *we* hit 10% (or 15% or whatever the threshold is) then the loss of confidence in the dollar internationally will cause all the other countries to start dumping their dollars like they're hot potatoes.

The positive feedback loop there will be catastrophic. Once it starts it will be unstoppable. you can turn off the presses, but you can't stop the rest of the world from dumping their reserves.

The more they dump, the worse the dollar gets, so the more pressure they will have to dump even more.

The difference between the US dollar and the Venezuelan Bolivar is that the rest of the world isn't holding trillions of Bolivars that they will need to get rid of.

I'm afraid that TPTB think they can play with inflation and just pull back if it gets too bad. That's playing with fire for the worlds reserve currency. Nobody knows what that tipping point will be, but once you find out you're likely to cause a complete collapse of the global economy.

 

[Saltwater60]

The real danger with printing money for the US is that it won't be obvious that we've printed too much before it's all in circulation.


We're about to dump trillions of printed money into the economy and pretend it's "infrastructure".

Maybe that's the straw that breaks the camels back, but we won't know until it's broken.

Our status as the worlds reserve currency means this will *not* go down like some banana republic where you could see the damage and turn off the presses at say 10% annual inflation and just go back to normal.


If *we* hit 10% (or 15% or whatever the threshold is) then the loss of confidence in the dollar internationally will cause all the other countries to start dumping their dollars like they're hot potatoes.

The positive feedback loop there will be catastrophic. Once it starts it will be unstoppable. you can turn off the presses, but you can't stop the rest of the world from dumping their reserves.

The more they dump, the worse the dollar gets, so the more pressure they will have to dump even more.

The difference between the US dollar and the Venezuelan Bolivar is that the rest of the world isn't holding trillions of Bolivars that they will need to get rid of.

I'm afraid that TPTB think they can play with inflation and just pull back if it gets too bad. That's playing with fire for the worlds reserve currency. Nobody knows what that tipping point will be, but once you find out you're likely to cause a complete collapse of the global economy.

That may very well be the plan so the powers that be can be in charge of rebuilding the world in their image and being a hero

 

[BerettaGuy]

Shame on all of you for even talking about this.
Don't you know there are young GEN Z and some millennium people on this forum!
You could trigger them and make them hyperventilate!
They have been told their entire lives the wonders of communism. They have become enamored with the idea of communism. They were bombarded with movies and TV shows showing Big Businessmen as evil destroyers of the world.
They have become anti-capitalist zealots and all of this talk about yet another failed communist state will send them into a dither.
You should all be ashamed for offending their overly sensitive sensibilities. I mean, if there is another war these guys will be the soldiers that will require a safe space to be safe in. Shame! Shame I tell you!