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Re:I Lived Like a Baller for a Month in Venezuela on Just £7... by syedkarim on Saturday August 06, 2016 @02:20PM (#12239201)
I often read that gold is superior to fiat currency, but how would any kind of currency or precious commodity make a difference in this case, since demand is outstripping supply of finite tangible goods.
Re:I Lived Like a Baller for a Month in Venezuela on Just £7... by Locke1689 on Saturday August 06, 2016 @02:52PM (#12239361)
It wouldn't. Don't believe what you read on the internet about money. The goldbugs are a vocal minority, not taken seriously in real economics discussions.
Re:I Lived Like a Baller for a Month in Venezuela on Just £7... by CyberDildonics on Saturday August 06, 2016 @04:29PM (#12239752)
That has nothing to do with anything, Venezuela is in trouble because of capital controls.
Re:I Lived Like a Baller for a Month in Venezuela on Just £7... by Locke1689 on Sunday August 07, 2016 @08:48PM (#12244698)
Which, unless people are literally paid in physical gold coins, also doesn't help.
Re:I Lived Like a Baller for a Month in Venezuela on Just £7... by CyberDildonics on Monday August 08, 2016 @01:39PM (#12249486)
I'm not sure what this means. What doesn't help?
Re:I Lived Like a Baller for a Month in Venezuela on Just £7... by tbihl on Saturday August 06, 2016 @04:43PM (#12239822)
Theoretically, gold has more robust ties to reality, so it would have value elsewhere; this is in contrast to the Venezuelan currency, which I expect (though don't know for sure) is inflated like crazy. If that's true, then it could mean that some enterprising Colombians (or someone else nearby) might find it worth their while to smuggle food in for the gold or gold-backed currency, which should be exchangeable at a predictable and stable rate.

Having said that, it's an absurd notion. Maintaining a gold-backed currency in that shitshow, even if someone were so inclined, would be like carefully setting the tables for dinner on a sinking cruise ship: it's cool that you're enthusiastic about doing your job well, but there are some pretty important people screwing up in really important ways, and your efforts aren't going to get you anywhere.