Originally published at: SOCIALIST PARADISE: Venezuela to ‘SLASH FIVE ZEROES’ Off Crumbling Currency | Sean Hannity
Venezuela’s recently announced plan to slash “five zeroes” off the country’s crumbling currency will be delayed to August 20th, with the new economic policy hoping to stem the country’s ultra-inflation.
According to Bloomberg, Socialist President Nicolas Maduro unveiled a series of proposals to help stem the nation’s escalating crisis; vowing to crackdown on “gasoline smugglers” whom he blames for the country’s widespread fuel shortage.
“I’m committed and with a new national hydrocarbon policy we’ll have enough money, cash, in this country to invest in everything our people need,” Maduro said on national television. “We’ll have money to spare.”
Venezuela was thrust into international headlines this week after widespread power outages and a crumbling economy prompted the socialist leader to admit his “production policies have failed.”
International experts believe the country could see inflation spike by more than 1,000,000% within the year.
