Quote from: The Pharmacist on May 02, 2021, 02:20:22 PM

The thing I'm wondering is whether Venezuelans are actually using that shitty currency or are using something more stable (like the USD or some other relatively local currency). I can't imagine anyone there would want to save money in the form of a currency that's hyperinflating. They'd either spend it as soon as they get it or trade it for dollars (or crypto even).

Any Venezuelans here who could shed some light as to what the reality is there? I've asked that before in a couple of other threads about Venezuela, but I don't think I ever got any replies. Has there been an increase in crypto adoption as has been claimed on a bunch of Youtube videos or is that just BS?

As far as I know, they use it on a day to day basis but those who can save or have previous wealth have it in USD or cryptos, following Gresham's law, spend the bad currency and save the good.

There must be some Venezuelans on the forum, but surely they don't speak good English and will be on the Spanish board.

Quote from: Cnut237 on May 02, 2021, 08:40:23 PM

Certainly the government has to shoulder plenty of the blame. But we must also consider that to some degree the misfortune of the population ...

From what you comment, I don't know how they can do that to pressure the government without taking into account the repercussion it has on the population but:

1) Sanctions started with Obama.
2) When they started they already had years of disastrous populist government.
3) The EU, which is more social democratic than the US, has also imposed sanctions.

I mean, sanctions don't look to me like some evil savage capitalists preventing the country from progressing.