Re:Hyperinflation Pushes Venezuela to Print 1M-Bolivar Bills
by JumpCrisscross on Saturday March 06, 2021 @11:52AM
(#26368653)
> to blame socialism than it is to blame America’s sanctions on Venezuelan oil
Bolivar hyperinflation pre-dates U.S. sanctions [1]. (It also pre-dates Chavez and Madura, though not to its recent degree.)
The sanctions don’t help. But China, and to a lesser degree Russia, were for a long time willing to run the sanctions [2]. Even they gave up on Caracas after Maduro’s incompetence led to falling oil production.
Bolivar hyperinflation pre-dates U.S. sanctions [1]. (It also pre-dates Chavez and Madura, though not to its recent degree.)
The sanctions don’t help. But China, and to a lesser degree Russia, were for a long time willing to run the sanctions [2]. Even they gave up on Caracas after Maduro’s incompetence led to falling oil production.
[1] https://en.m.wikipedia.org/wiki/Hyperinflation_in_Venezuela
[2] https://www.reuters.com/article/us-venezuela-oil-deals-speci...