These pictures show just how much cash Venezuelans needed to buy even basic goods

[morris]

Before this week, Venezuelans needed stacks of cash to buy the most basic goods.
Image: REUTERS/Marco Bello

1. Edmund Heaphy Reporter

In a desperate bid to curb its runaway inflation rate, Venezuela has lopped five zeros from its currency. The move yesterday, which came along with a 95% devaluation of the currency—known as the “strong bolívar”—was also accompanied by a hike in gas prices and a 3,000% increase in the minimum wage.

A 2.4 kilogram chicken cost 14,600,000 bolivares ($2.22) before Venezuela slashed five zeros from its currency.
Image: Reuters/Carlos Garcia Rawlins
New banknotes for the currency, now called the the “sovereign bolívar”, were introduced. The redenominated bolívar is now pegged to the petro, a state-run cryptocurrency that doesn’t trade and some consider a scam.

A kilogram of tomatoes cost 5,000,000 bolivares ($0.76) before Aug. 20.
Image: Reuters/Carlos Garcia Rawlins
In a more practical sense, though, the move will lighten the load. Before this week, Venezuelans needed stacks of cash to buy the most basic goods, as captured by a remarkable series of photos by Reuters. With the IMF predicting that inflation will hit 1,000,000% by the end of the year, this latest fix may not last very long.

A toilet paper roll cost 2,600,000 bolivares ($0.40) before Aug. 20.
Image: Reuters/Carlos Garcia Rawlins

A package of sanitary pads cost 3,500,000 bolivares ($0.53) before Aug. 20.
Image: Reuters/Carlos Garcia Rawlins

A kilogram of meat cost 9,500,000 bolivares ($1.45) before Aug. 20.
Image: Reuters/Carlos Garcia Rawlins

A kilogram of carrots cost 3,000,000 bolivares ($0.46) before Aug. 20.
Image: Reuters/Carlos Garcia Rawlins
Have you read?

• Venezuela has cut 5 zeros from its currency
• How we overhauled healthcare amid Venezuela's crisis
• Venezuela was once twelve times richer than China. What happened?

A kilogram of rice cost 2,500,000 bolivares ($0.38) before Aug. 20.
Image: Reuters/Carlos Garcia Rawlins

A kilogram of cheese cost 7,500,000 bolivares ($1.14) before Aug. 20.
Image: Reuters/Carlos Garcia Rawlins

A kilogram of pasta cost 2,500,000 bolivares ($0.38) before Aug. 20.
Image: Reuters/Carlos Garcia Rawlins

 

[Pressure]

Wow. Looks like rapper ig

 

[hashmander]

maduro really is a shyt stain.

 

[bucks3115]

Wow. Looks like rapper ig

 

[☑︎#VoteDemocrat]

Anyone defending Maduro is a monster.

America didn't do this.

 

[WaveMolecules]

fukk Maduro.

 

[Prince.Skeletor]

Anyone defending Maduro is a monster.

America didn't do this.

It's not that easy.
All I know is that whenever you have a "monster" as leadership in another country, one that the U.S. condemns, it suspiciously is almost always a country where the leader is not a u.s. puppet.
Time and time again, this is what I have noticed.
I wonder what must a leader of another country do to maintain it's sovereignty against the west.

This is not me defending Maduro though, i'm just being safely agnostic.

There's alot of bad press on Maduro.
Same thing with Paris at the moment, I was just in Paris last week. It's nothing like what we see on CNN.
There were no protests, I was walking on les champs elysee and I did not see any squad of people anywhere causing issues.
I did see broken windows here and there but the place was completely non-violent, and throughout Paris too.
Also a taxi driver was telling me it is the general perception in Paris that the window breaking protesters were undercover police.
So the perception of Paris from people living there and the perception of Paris from people living here are absolutely completely different.

I'm just saying, the media is very powerful, it shapes our view.
And we know the media are bought, so how can we even trust our views?

Again i'm not defending Maduro, but U.S. Sanctions are not helping!

It is no secret that Venezuela, unlike Mexico, Honduras, Colombia, Egypt, is targeted for regime change by the U.S. precisely because of Venezuela’s leadership in resisting U.S. hegemony. Also Venezuela has the largest oil reserves in the world, attracting more unwanted attention from Washington.

 

[Tres Leches]

It's not that easy.
All I know is that whenever you have a "monster" as leadership in another country, one that the U.S. condemns, it suspiciously is almost always a country where the leader is not a u.s. puppet.
Time and time again, this is what I have noticed.
I wonder what must a leader of another country do to maintain it's sovereignty against the west.

This is not me defending Maduro though, i'm just being safely agnostic.

There's alot of bad press on Maduro.
Same thing with Paris at the moment, I was just in Paris last week. It's nothing like what we see on CNN.
There were no protests, I was walking on les champs elysee and I did not see any squad of people anywhere causing issues.
I did see broken windows here and there but the place was completely non-violent, and throughout Paris too.
Also a taxi driver was telling me it is the general perception in Paris that the window breaking protesters were undercover police.
So the perception of Paris from people living there and the perception of Paris from people living here are absolutely completely different.

I'm just saying, the media is very powerful, it shapes our view.
And we know the media are bought, so how can we even trust our views?

Again i'm not defending Maduro, but U.S. Sanctions are not helping!

It is no secret that Venezuela, unlike Mexico, Honduras, Colombia, Egypt, is targeted for regime change by the U.S. precisely because of Venezuela’s leadership in resisting U.S. hegemony. Also Venezuela has the largest oil reserves in the world, attracting more unwanted attention from Washington.

Chavez was there 12 years and didn’t have this kind of inflation .. there are monsters on both sides left and right throughout history

 

[Prince.Skeletor]

Chavez was there 12 years and didn’t have this kind of inflation ..

what are you talking about?

EIGHT years after Hugo Chávez's socialist government imposed strict price controls on basic goods, Venezuela has the world's highest inflation rate to show for the effort. By mid-2011, food prices in Caracas, the capital, were almost nine times higher than when the controls were introduced
Medieval policies

This is also a good read:
https://www.forbes.com/2010/01/14/v...s-columnists-bruce-bartlett.html#389743535827

 

[Tres Leches]

what are you talking about?

EIGHT years after Hugo Chávez's socialist government imposed strict price controls on basic goods, Venezuela has the world's highest inflation rate to show for the effort. By mid-2011, food prices in Caracas, the capital, were almost nine times higher than when the controls were introduced
Medieval policies

This is also a good read:
https://www.forbes.com/2010/01/14/v...s-columnists-bruce-bartlett.html#389743535827

Chavez died in 2013 with high inflation yes but comparable to Argentina’s right now .. Venezuela inflation today is on another level

 

[Strapped]

maduro really is a shyt stain.

Obama created this

 

[Strapped]

Anyone defending Maduro is a monster.

America didn't do this.

usa created this

 

[hashmander]

Obama created this

yeah ok.

 

[Secure Da Bag]

So what exactly did Maduro do to cause this? Since we're blaming this on him.

Anybody got an informative, concise info, link?

 

[the cac mamba]

Obama created this

yeah ok.

i thought that the narrative was that everything in south america is america's fault. so which is it