Venezuelans continued their ongoing struggle with the country’s massive hyperinflation crisis this week, with motorists reportedly using cigarettes and other goods to purchase gasoline across the socialist nation.
“Motorists in socialist Venezuela have long enjoyed the world’s cheapest gasoline, with fuel so heavily subsidized that a full tank these days costs a tiny fraction of a U.S. penny. But the economy is in such shambles that drivers are now paying for fill-ups with a little food, a candy bar or just a cigarette,” reports the Associated Press.
“Bartering at the pump has taken off as hyperinflation makes Venezuela’s paper currency, the bolivar, hard to find and renders some denominations all but worthless, so that nobody will accept them,” adds the AP.
The hyper-inflation crisis prompted Nicolas Maduro’s socialist regime to print high-value bank notes; rendering lower bills near worthless.
“You can pay with a cigarette,” said one motorist. “Heck, it’s no secret to anyone that it goes for nothing.”
Read the full report at the Associated Press.
Original Story: October 8, 2019
More and more Venezuelans are seeking out “traditional” or “spiritual” healers to treat modern medical conditions as hospitals rapidly run-out of life-saving supplies across the socialist country.
“With Venezuela’s chronic medicine shortages and hyperinflation, more and more people are turning to alternative medicine to treat common ailments in the crisis-wracked South American country,” reports Yahoo News.
“We go to the hospital and there’s nothing there. They don’t have medicines, or they’re too expensive, what are we to do?” said Rosa Saez, 77.
“Rosales’ clinic is muggy with the smell of tobacco. A crucifix suspended from a chain around his neck, he practices a seeming mixture of smoke-blowing shamanism, plant-based medicine and mainstream religion,” adds the website.
The hyper-inflation destroying Venezuela’s already-failing economy reached unprecedented levels earlier this year; prompting the government to issue new 50,000 Bolivar bank notes -worth about $8 in the United States.
“Venezuela is releasing new banknotes for the second time in less than a year, the central bank said on Wednesday, after hyperinflation eroded the effects of an August 2018 monetary overhaul meant to improve availability of cash,” writes the Guardian.
“Banknotes of 10,000, 20,000 and 50,000 bolívar denominations will begin circulating on Thursday to ‘make the payment system more efficient and facilitate commercial transactions, the central bank said in statement,” adds the report.
Read the full report at Yahoo News.