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Beware of Socialism – What it costs to buy a chicken in Venezuela

August 22, 2018 Stephen Ryan 2975 Views

Banks closed Monday in Venezuela as they prepared to release the “sovereign bolivar,” a new currency printed with five fewer zeroes in a bid to tame soaring inflation.

Here are a few pictures that illustrate the limited purchasing power of the old bolivar.

This stack of 14,600,000 bolivars, or about $2.22 U.S., would buy this chicken at a mini-market in Catia, a low-income neighborhood of Caracas on Aug. 16.

 

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  • ← Congratulations to my friend Stephen Walford on his Important new book Prefaced by Pope Francis (wow!)
  • THE DOGMA OF THE LADY OF ALL NATIONS “This Marian dogma will be the “final and greatest.” →
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