Over the last century, we have witnessed socialism’s wondrous ability to accomplish incredible feats that boggle the mind. Feats such as murdering over 100-million people and enslaving billions with nary a murmur or complaint from the media or academia. Other feats of socialism such as the destruction of families and violent repression have enjoyed the same ho-hum reaction as well as the complete annihilation of thriving economies.
In Venezuela, the socialism of Chavismo has taken a country that possesses the world’s largest known reserves of oil and was once the richest on the continent and in a few short years, completely destroyed its once booming and successful economy.
This incredible feat of socialism has “created” more than 100-trillion bolivars, which at the rate they are being printed, the paper itself is worth infinitely more.
Carlos Hernandez in Caracas Chronicles:
Chavismo created 100,000,000,000,000 bolívares. Here’s what that means
The fact that Venezuela is going through hyperinflation annoys me to no end, because we are a textbook case. A estas alturas, this is a very well understood phenomenon. We know how it works, we know what causes it and we know how to end it. Forget about the economic war or the sanctions; the government adds fuel to the hyperinflationary fire by creating bolivars out of thin air, to cover public expenses.
Since they’ve been doing it at an unprecedented rate, the monetary base is now beyond the 100 trillion bolivars.
102,513,206,955,373 bolívares, to be exact.
ONE HUNDRED TRILLION.
For reference, when Maduro took office in 2013, the monetary base was just 250 billion bolivars.
A hundred trillion is a number so big that wrapping your head around it is sort of complex. That’s why I decided to crunch some numbers:
If there are 3.5 trillion fish in the sea, there are 29 bolívares for each.
That’s 34 for every one of the three trillion trees on the planet.
That’s 250 bolívares for every star in our galaxy.
Still can’t see how much that is?
Continue reading HERE.
Maduro’s response: “Oh, I’m an excellent president…excellent president.” Lord, the idiocy–and I don’t mean his.