Surviving hyperinflation in Venezuela
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- Опубликовано: 19 авг 2018
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In Venezuela, the government has knocked five zeroes off the refurbished Bolívar in a desperate attempt to control hyperinflation. The Bolívar Soberano is anchored to a crypto-currency that was launched earlier this year. In May 2018, Nicolas Maduro was re-elected president in a vote deemed unfair by both the European Union and the United States. Maduro promised to focus on boosting the economy, but Venezuelans are yet to see their lives improve. Report by FRANCE 24's Claire Paccalin.
A programme prepared by Patrick Lovett and Gaëlle Essoo.
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It was once the richest country in South America.
This is what happens when you cross the US Government.
It still is, it's just their oil gets stolen from them and the people left in poverty.
Especially with oil prices today, the govt. should be able to generate some income, but everything has been sold to foreign internationals.
@@MegaDavyk its what happens when you become a socialist nation with all your income from oil...
@@cooldudecs In-case you hadn't noticed the world still needs oil and this country was giving its wealth to the people before the US destroyed it.
@@MegaDavyk how did we destroy it 😂... The sun leader was handing out free ish... The many ran out because all the rich people left.
The eventual fate of all money backed by nothing...
Money backed by gold only way to defeat inflation.
Not usd backed by debt, thank you merica sheep
Yes, a fiat, debt based ponzi scheme currency will always fail, eventually.
A 7 minute advertisement for buying and holding physical gold and silver
@@dorothymartin8557 Buy from a reputable bullion dealer. There are bullion dealers in most major cities. I've bought over 200oz of silver from ebay from different sellers and every single ounce is genuine, Check their ebay feedback score Just don't buy anything from China and you'll do okay!
Hyperinflation's _next_ stop in the 2020's:
U.S.A. / U.S.S.A.
The powers HAVE to control silver and gold prices at any cost...so they cannot let the dollar hyper-inflate ever. Just look at the magic done the last 20 years...they can make the numbers be anything they want them to be. We can pay off all the debt and still use the same dollar. We can give free UBI money to everyone....all is well here.
@@LarsonFamilyFarm-LLC US economy is not backed by gold or silver smart one
@@mtnation2923 True....but Gold and silver prices are Key to controlling inflation. Reasoning: I know for a fact THEY do not want joe and jane citizens to be investing in gold and silver. They will hold prices low and steady to quench any fear and get those people to invest in the stock market and the unfolding crypto disaster.
THEY can take massive amounts of dollars out of the system via the stock market (to control inflation).
@@LarsonFamilyFarm-LLC Isn't it nice to be a stacker and play their game. Win, win, in the end for us. Holding out is the key as they cannot manipulate the precious metals price forever. When it all let's go, we'll be wealthy AF, but the rest of the world will be in total meltdown. I'm heading into them hills until the dust settles. I will be helping out my small community if the need arises.
Faster than you can say,,, "Sold-Out politicians".... China is watching the collapse
Coming to a city near you.
It sure does look like it's coming our way, for sure.
Unfortunately yep..
Exaclty.
yeah i blame autozone for never having the right parts, hiring stupid millenials
People are going to flip there not used to this kinda no credit/ no real money no life its coming😔
1:42 The pain in that man's eyes is so visible, just from him saying he can't get spare parts. Its like he wanted to cry. So terrible.
Thats what happens when u dont have currency backed by precious metals
Watching this in USA 2021
@@dandychiggins3345 Watching this in U.S.A. 2022.
They seem well fed at least...😅
Watching this in USA 2021
Beatris is such a strong lady, keeping a hold on herself and her family. Kudos.
She is a wonderful woman. That man is very lucky to have her. Well they are lucky to have each other. They keep very positive attitude in spite of the great hardships they experience.
that is really sad their vote counts about as much as ours does in the united states
imagine comparing a 3rd world country to the united states lmao
@@mtnation2923 no cap
You vote yourself into socialism but you have to shoot your way out.
@@mtnation2923 Venezuela was one of the richest countries not so long ago.
@@mtnation2923 Yèh......because finally people are waking up to the fact that Uncle Sam runs a one party state , where both allowed parties dance to the pipes of the Pentagon , and allow her unconditional unlimited access to the people's treasury .
How are businesses operating if no one can buy anything????
I know none of this makes sense.
They don’t. That’s why hyper inflation is horrible.
The ladies literally said most shops don't even operate and are closed. - but it's Spanish so you're welcome
They get a bit of money and don't use much gas or electricity. 40,000 dead now.
If I had this guys address I would send him a master cylender, I live across from a salvage yard, can anyone get the info of this gentlemen, I would need year/make/model ...
He needs more than just a master cylinder.
Frank Machado there were some subreddits that were sending cryptocurrency to Venezuela. Maybe there’s still some around.
Trade sanctions my friend, how you think Venezuela got into hyperinflation to begin with. If you help 'em out you're committing a crime and are considered a domestic terrorist IIRC.
Contact the channel directly
Yeah r/nanocurrency sometimes helps gather some money for some Venezuelans. Nano is a 100% fee less and green cryptocurrency, so it's fitting for them.
School fees? I thought they were socialist.
Most socialist countries don’t actually do socialist things...it’s kind of ironic
@@thatguy4234 :So Capitalism is the most basic & always win?
@@scottfree6479 :Ok noted, thanks for the briefing Sir
We homeschooled our soon rather than have him go to the socialist programming camps that pass as public schools here.
@@scottfree6479 you're a derp
Not gonna lie, the very last sentence floored me from laughter, until I thought about how it's real life and this dude actually is caught in an insane loop where he has to keep looking for a different car part over and over because there is so little to be had and what exists is quickly gone. Poor souls. Damn.
Worst part is, that the number of customers _able_ to pay for a ride is also dwindling...
What he isnt realizing is that the car is not a viable option any longer, for work or otherwise
Easy fix, just enact a 30,000 an hour minimum wage. 🤣
And then 60,000 and then 90,000 and then 120,000 and.................
Wait ...it's not that simple? Maybe I shouldn't make decisions for everyone
Give everyone 1 trillion. Then everyone's rich!
@@manictiger not going to lie it would be pretty cool I've never had a trillion of anything, except cells.
Not funny
Its is happening here in the US and people have no clue.
Trumptard 😂
2024 now and hopefully a few Americans are waking up.
Will be happy to purchase the parts and mail to him if the make, model, year is provided. Thank you
This is very sad, poor guy.
Looks like Portland today. Buckle up for "Biden's America"
Starting with an additional 8 trillion dollars in debt backed spending.
Socialist utopia.
The Democrats inherit the huge deficit and big problems from the Republicans and have to spend lots of money to help out humanity and than get blamed for the cleanup cost!.
@@ingelarson6738 no they don’t america has been in debt republicans and democrats are a smoke shield from truth that citizen keep squabbling over. Wake up america is corrupt broke and a house built on lies.
This was americas predestined fate. Built by murder lies robbery will fall by the same.
Everybody suffers except Maduro
This is what happens when any government devalues its fiat currency through terrible monetary policy. Did you get that, U.S.A.?
This is our future
No
It is happening all over the globe. No one is trying to devalue money. I guess Rocko knows more than all the experts.
anyone else from the US watching these videos to try to learn something before it hits us?
Yes lol
Yup lol, BRICS is about to destroy us. I came for tips and tricks and got nothing but despair.
Absolutely! Glad to see I'm not the only one
@@FloresOrtodoxas i believe it will be sooner, voting has nothing to do with it because both parties listen to one ultimate authority. both sides print money and soon we will have to face this reality of inflation. usually it occurs 2 years after the printing… sooo
I hope you slipped him some money, he could really use it.
based
@Dy Carmona If you mean join the union, I don't think we would want them to join as the 51st state. If you mean the US government has any interest controlling Venezuela, that is not true.
@@amostake venezuela has one of the biggest oil reserves on this planet, just saying.
@@ludvig4752 Doesn't change anything. The US has no interest in owning the oil of Venezuela.
You do realize that Biden just canceled the Keystone XL pipeline, which would have brought hundreds of billions of oil into the US, from Canada, and you think we don't want their oil apparently, but do want Venezuela's oil? That makes no sense.
Heck, we can't even get everyone on board with just getting the oil that is in the ground of US land right now. But you think we want to go to Venezuela? When we can't even get people to agree to dig up our own oil?
I say it again. The US has no interest in controlling Venezuela.
@@amostake You're right. I'm not educated enough on this matter to make any comments. Thank you for your insight :)
exactly why you invest in precious metals.
Oh, did they try “taxing the rich” yet?
As an American I am paying close attention and taking notes
All he had to do was to put a single drop of oil into his brake fluid. The oil would have expanded the rubber enough no to leak.
Truck drivers are going through the same thing in the USA right now
Sadly half the US think this system is awesome
0:55 that road looks hella slippery
Must have good leaders no matter what 'system' you have.
The proven oil reserves in Venezuela are recognized as the largest in the world, totaling 297 billion barrels. What a shame the people have to live like that.
We are only a few Months behind
Looks like the USA in the future. The Fed Reserve goes Brrrrrrrrrrr
This is true socialism, everyone is equal
@@leolego2
But there is something socialist about price control and nationalizing most of the private sector including the oil industry to fund vote-buying, OOPS! I mean social programs for the poor. Treasury be damned!
Equally poor
Imagine if Venezuela did an economic policy 180 and went full Laissez Fare? We can only dream.
As long as the banks control the world, we will never have that. The people that run this system hate competition, because they know someone better will come along and knock them out.
Even though we’ve heard the stories it was saddening to see a family in the middle of it all.
this scares me
heartbreaking!!!!
Keep in mind, while the currency was driven to worthlessness, the Venezuelan stock market was the best performing market on the planet.
source? Thats definitely not true
@@miaaa7641 It's a joke lol
Anyway, the stock market is about worthless for measuring how an economy is doing
@@miaaa7641 Technically it is true. Inflation was soo bad, that the prices of stocks went to the moon. Kinda like what's happening here in America. The more money the government prints, the higher the prices go.
Just think if a regular citizen during the glory days of Venezuela had bought silver, 60 ounces a year 5 a month would sustain a household.
School fees? Uhmmmm isnt there supposed to be socialism?
People say Venezuela is socialist, but they have no clue about reality.
The 80's Wolf the ruling party literally has socialist in its name
Remy and his friends seem like very nice people, sad to see this happen to them...
Biden's goal for America.
So sad!
I'm from Thailand
The only thing which I found fascinating is the eyes of the news anchor.
Guessing they might be contact lenses or really awesome eye color
Stop being a mangina.
They obviously pay for the part for him. They just can't say that as they can't be seen in that light. It's a sad state of affairs though. Their govt has really put them all through the ringer
Coming to America!
I live in Venezuela and yes the situation here in Venezuela is hopelessly and desperate because everything you do every day for us is 5 times more difficult (except pour gasoline if you give it away as a gift) but the rest of any "luxury" like going to the movies or eating chicken with pasta is very complicated, but it is more complicated nowadays, there are children dying of hunger in the street, people dying from medical negligence due to poor education, people eating out of the garbage, the clothes are imposible to buy, for example in my case I go to college with shoes finished with holes, even the clothes looks old everyone looks worn out, tired, and without hope this situation squeezes but does not hang and we have to live with that constant suffering , i don't know what i can do for leave the country, emigrate cost a lot of money who i not have, and now we have this earthquake I often think about killing myself....
Why arent you people protesting against Socialism?
@@WatchInVR1
They are, hundreds have been killed in the protests ... The goverment releases the military on the protesters. People are shot run over by tanks.... Venezuelans don have access to guns either, so every time the protests happen, it is civilians armed with sticks, knives and wooden shields, against heavily trained militia armed with guns, tear gas and tanks, mostly imported from Russia and China
you know man, it's impossible fight
I'm so sorry man I wish other countries could help Venezuela instead of putting an embargo. I know its tough but you guys will get through it. Just that Maduro needs to stop being so selfish and resign.
@@LK-ji8be
Thanks for you for your words man, The only way I see that countries can help Venezuelans is to help them leave the country and settle in others or that there is a foreign military invasion to stop Maduro Regime, here nothing is going to change. I was gathering some dollars with online jobs to escape, but
recently my computer
was partially damaged , now with the pandemic there is no work and more misery, today I was lucky and I was able to eat some rice with eggs, it is hard, someday I think to end up with my life
in order to stop suffering :(
i dont know any Venezuelan, i dont speak the languange, i dont use any imports from Venezuela, i dont live nearby, but it is so sad to see people starving and living in hardship. i wish i can help. people of Venezuela should rise up and stop the useless regime.
the language they speak is just spanish.
Hahhaa venezuelan, ignorant americans I can't smh
Lilo Xo maybe they aren’t American. Where do you come from buddy?
@@Lilo_- By saying “I don’t know any Venezuelan” they could have meant that they don’t know any Venezuelan citizens. Also venzuelans are Americans too not just USA
Rise up with what
"But.... but..... socialism works...trust me I know it failed miserably time and time again but trust me this time it will work"
This aint socialism bud
this isnt socialism 😐 google is free dude
@@jaeode
Then explain it to me or at least guide me to one of your favorite articles on the issue, so we can have a discussion, just stating "google is free dude" is lazy.
@@pointlesslylukesplainingpo1200 Yeah it is.
Hungary in 1946, have a 41,900,000,000,000,000% of hyperinflation
Year 1: Hurray! Free stuff for everybody. Euphoria. Crowds are so happy with literal tears of joy.
Year 5: "I am hungry". Tears of sadness.
Year 50: This was not real socialism!
Every. Single. Time. Sigh. It's unbelievable how dumb it is. Life is an alien prank reality show. Has to be.
They think stuff falls out of the sky just need some magical money for it, which the "evil rich" are hoarding.
How much is that please? Do you want the answer now... Or now?
Sad situation.
I wonder what currencies are being used... silver??
use bitcoin, or any other crypto. 100x better. Bitcoin is best but when you need to make small transactions any other crypto will do, just convert to bitcoin when you get a big amount.
Lol
They are able to chuckle and having some humor, but even that can get strained over time.
This is what i lived through in Zimbabwe during 2005-2009ish. Anyone else from zimbabwe ?
Yeah how did you survive
@@pearlperlitavenegas2023 by eating his neighbors...😂
Surprised the YT censors haven't removed this.
How scary
I would like to see an update on them. That was at the start & it’s gotten much worse since ✌🏼❣️🙏🏼
The sad reality of “ socialism “. Countries professing socialism ought to learn a lesson.
Guys, look who really created the problem. It is not the party who got voted in. It happened because the previous party a lousy job! Look at the reality!
@@ingelarson6738 " iTs ThE oThEr GuYs FauLT"
This is what it takes to survive. This has been my life. Fixing parts doit ur self work. I had to learn many things to make it one day at a time.
Even if he could fix the car, people can't afford to get a taxi.
Coming to a country near you.....
Sad.
He should bleed the brakes and everything - didnt see a wheel off at all to get to the brake caliper - if he didnt drain or add fluid - how is the new/repaired brake master cylinder going to work? He needs to drain fluid, install new part, add fluid and bleed to get any form of response.
Coming soon to the rest of the world.
No eBay or online car part suppliers in Venezuela?
People in the U.S. need to wake up and see the realistic possibility of this happening here. There's still time to save yourself. Buy some silver, gold, if you can afford it, and, some crypto currency in order to survive grave situations like these. These hard times are coming.
Its too late for us, we went over the cliff a while back, people just haven't realized it yet....harder times are coming, indeed - and "we, the people" voted for it. Over and over and over...
This will never happen
Uncle Sam always had a solution for this......organise a world conflict , out of which just like the two previous ones , the economy will be booming again......over the backs of millions.
I would rather have chickens, fruit trees, bee hives ect.
Imagine if you took that cash into airport security . what would they do
Maybe I should move there.
Taking zeros off a note does nothing. It's been done before. It works in the very short term but then it gets worse.
I'm just here getting ready for this to happen in the united states. Got to take some notes.
scary ahh Fox News zombie 😂
Any way to get this guys info we can send him the part?
I'm only just learning about this and it makes me so sad
USA not far behind.
Felipe: Bah!
This is now starting to happen in Myanmar.The dollar exchange rate is 50% higher than last year and the goods are getting more expensive.
So sorry.
Stacking Silver.
The government would like to remind you that gold, silver and bitcoins are risky investments. Please be nice and hold our precious fiat currency instead.
What's a million USD worth in Venezuela? I'm thinking I'd be extremely rich there.
Bahahahaha 🤣
Hope your joking... if not do some research.
1 USD to 9.8 VEF . Does not sound bad. Not as bad as your personality ... John
You'd be rich by local standards, but but you won't be able to buy anything, so does it matter at all ?
I see. Indonesia has a better exchange rate anyway. Sorry Venezuela.
Ya with all those skinny coke’d out big booty latinas I’m in brother!
Just another for the fiat currency graveyard
how does the president live over there?? is he struggling as well?
btw now you can basically multiply all the prices they were saying on here by about 40,000
now
I wish I could buy all Beatris makeup to help out . May God bless Venezuelans
i want more, its so short. I like this story. But its sad too
Did someone get this poor man his car part??
Taking study notes
this is the world in 2022 once the supply chain brokes down and hyper inflation kicks in. good luck my friends.
Lebanon is facing almost the same thing now..
So sad. Brand new car broken down again?
whats up with the key from the 5th element in the wife's hand
People elect the same idiot that got them into this fix in the first place and then they wonder why things don't improve. You can't fix stupid.
Why don’t buy online the piece
No dollars.. There's no online stores.. Its a 5th world country
luis bmx bmx If the price of rubber o-ring is 100,000 bolivar, shipping is 50,000 bolivar, lets say that is equal to $1.50. By the time payment is received it is worth $1.25. So I think no one wants to deal with Venezuelan bolivars.
why hardware stores are behind the bars?
Ay biene la ayuda hermanos
Nowadays they trade in RuneScape gold. It's the only way they can get by.
IT IS COMING IN A NEIGHBORHOOD NEAR YOU.
Inflation has gotten so bad, I need to reuse my condoms when I go there.
How about today--5 years later?
Grow it, weave it, dye it, make it, sell it.
Folks, I don't know what you think. But I feel sorry for the dude!
Send 1 dollar and make him a millionaire
Why didn't you buy it for him for doing the interview?