Venezuela Doesn't Have Enough Money to Pay for Its Money

[TwoAndAHalfCents]

Tbe economic news out of Venezuela keeps getting worse. Now they are having trouble paying for the printing of all the banknotes needed to keep up with their hyper-inflation. Here's an article from Bloomberg from last week that tells the story.

http://www.bloomberg.com/news/articles/2016-04-27/venezuela-faces-its-strangest-shortage-yet-as-inflation-explodes

Venezuela’s epic shortages are nothing new at this point. No diapers or car parts or aspirin -- it’s all been well documented. But now the country is at risk of running out of money itself.
In a tale that highlights the chaos of unbridled inflation, Venezuela is scrambling to print new bills fast enough to keep up with the torrid pace of price increases. Most of the cash, like nearly everything else in the oil-exporting country, is imported. And with hard currency reserves sinking to critically low levels, the central bank is doling out payments so slowly to foreign providers that they are foregoing further business.
Venezuela, in other words, is now so broke that it may not have enough money to pay for its money.

[JadeDragon]

Crazy food riots, medicine shortages, widespread hunger and deaths. I can't believe people are just taking this! But for the grace of God goes Canada and the US. Best to keep a stockpile of food securely in your hands.

[aloneibreak]

Crazy food riots, medicine shortages, widespread hunger and deaths. I can't believe people are just taking this! But for the grace of God goes Canada and the US. Best to keep a stockpile of food securely in your hands.

well they have been disarmed...

what do you expect them to do ?

[messymessy]

Their government is letting their people starve and is refusing outside humanitarian aid. Apparently, it would make them look bad if they accepted outside help.

[johnbrickner]

Wonder how long it will take for Venezuela to become a rogue state? It seems to be well on it's way.