Josh Sigurdson talks with author and economic analyst John Sneisen about the insanity of Venezuela’s system once again! This time Venezuela is offering 5 BILLION dollars in bonds to investors with an interest rate of 6.5%. The bonds were bought by state run ‘Banco de Venezuela’.
If the story could get any crazier on top of the hyperinflation plaguing the country, to top it all off, the government has just raised the minimum wage for the FIFTH time in a year. This is an absolute travesty and it’s amazing anyone is eating this up.
This is the fate of all centrally planned socialist countries. When you use quantitative easing and print fiat currency out of thin air, you will always devalue and always create debt and inflation. All fiat currency has and will revert to its natural value of zero eventually.
It’s disgusting to think of all the people impoverished waiting in bread lines and getting tattooed numbers for their allowed amount of food and water all while the government officials live in palaces. You want to see greed and suffering? Look no further than this so-called socialist “utopia”. Bernie Sanders would be proud.
Stay tuned for much more on this topic as we’ve been covering this problem for more than a year and it continues to get worse and we unfortunately continue to be vindicated.
Video edited by Josh Sigurdson
John Thore Stub Sneisen
Graphics by Bryan Foerster and Josh Sigurdson
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