Josh Sigurdson talks with author and economic analyst John Sneisen about the latest craziness coming from Venezuelan President/Dictator Nicolas Maduro as hyperinflation rocks and grips the nation.
This time, Maduro plans to remove zeros from the Bolivar currency. So instead of a 1000 Bolivar note, it would now be a 1 Bolivar note. Somehow this is supposed to deter the continued collapse and loss in buying power of the Venezuelan Bolivar. Talk about economic illiteracy. But then again, basically every country in the entire world has been overcome by economic illiteracy considering the vast central planning of all of the world’s national currencies.
No one seems to want to acknowledge the historical prosperity of competing currency systems outside of central banking, bringing it down to individual demand rather than some centralized source with continued quantitative easing and fractional reserve lending.
All fiat currencies eventually revert to their true value of zero. They always have, they always will going back to 1024AD in China. This will continue for eternity as long as we repeat the same old mistakes, in complete debt servitude and gleeful ignorance as the organized crime rackets we call governments and central banks laugh.
The fundamentals are off the table due to the level of manipulation in the monetary system as well as in the markets so we never really know when the crash will actually happen, but we know it will happen and that’s the main issue. That’s why we must be educated and understand money as money can either be used to control us or we can use our education of money to control ourselves and our own lives.
Maduro will continue to come up with crazy ideas as the country falls into ruin. From the rabbit plan to the petrocoin. But it will be futile. We hope the people of Venezuela choose wisely and don’t repeat the same old centralization of the past as Zimbabwe and Germany have.
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