Re:Venezuela on Brink of Hyperinflation
by aortega on Sunday August 23, 2015 @01:46PM
(#10106180)
The 10.3 u$s per month is possible. You have to remember that using the government exchange rate, food also is very cheap. Gas is almost free, IIRC about 5 or 6 bolivars to fill a tank (about 0.006 u$s I think).
The thing is, you cannot buy anything imported because then the real exchange rate goes, and you actually can buy only u$s 10 worth of imported stuff. You are forced yo spend your salary in locally-produced stuff, that actually kinda work for countries like Argentina that produces a lot of stuff (except computers and high-tech products), but do not for Venezuela, that only produces oil.
Interestingly, what happens if you go with your US-savings, say, u$s 50000 to Venezuela? well then you are basically a king there. You could buy half a city with that money, thats why they had to put laws to prevent foreigners to do that kind of thing.
TLDR: You can be rich with u$s 10/month, as long as you dont leave the country and don't buy anything imported.
The thing is, you cannot buy anything imported because then the real exchange rate goes, and you actually can buy only u$s 10 worth of imported stuff. You are forced yo spend your salary in locally-produced stuff, that actually kinda work for countries like Argentina that produces a lot of stuff (except computers and high-tech products), but do not for Venezuela, that only produces oil.
Interestingly, what happens if you go with your US-savings, say, u$s 50000 to Venezuela? well then you are basically a king there. You could buy half a city with that money, thats why they had to put laws to prevent foreigners to do that kind of thing.
TLDR: You can be rich with u$s 10/month, as long as you dont leave the country and don't buy anything imported.