Topic: The rich poorest country (Read 265 times)

I'm sure all the cannibals amongst us are nodding along with tears of recognition in their eyes.

I doubt limp wristed platitudes will mean very much if you're scraping along the bottom with no end in sight.



Dash paid their way into relevance there. If I were in charge of a currency that's one place I would not dabble in.

I did not expect this could happen in the Venezuelan country suffered a severe economic crisis, this country used to be very rich with the biggest oil income,
And the biggest reserves. With local currency, tissue is sold 2.6 million while chicken meat is 14.6 million. and in addition to crypto prices like Bitcoin today, I am very concerned about you. It is better if you choose to leave the country and imingration to another country is the best solution.

Venezuela is rich country if government can manage it. With large resource in oil reserve, government think the party will never end when oil price above $100. Venezuela give too much subsidise to their people and now they have huge inflation.

First off, don't blame socialism/ communism for the state of Venezuela.  Socialism can work when the government officials aren't corrupt. 

USA is the wealthiest country in the world but has the highest prison population and ranks very high among countries in suicide rate.  There are a lot of tent cities in America that would make Venezuela look like a paradise.

Venezuela is currently just one example how corrupt and incompetent government can destroy one country. I wondered why they not use their oil reserves and why they constantly reducing production, and there was one memeber of forum that claim oil production in Venezuela is not so simple/cheap as in some other countries.

We can assume that sanctions imposed by USA further complicates the already difficult situation in the country, and at this point it seems nobody is interested to help in any way - it is like experiment which must be completed to the end.

Regarding life in Venezuela, is undoubtedly economically disastrous - but some other countries like Syria, Libya, Iraq, Afghanistan are also rich in natural resources, but they not have only bad economic situation caused by imposed wars - but also the daily threat of bomb attacks who take tens or even hundreds of lives every day.


By what can be read on internet, one altcoin is especially popular in Venezuela and it is DASH. One article from 5 months ago writes that over 540 merchants adopted DASH at that time, probably this number is even bigger today.

Exclusive: Dash [DASH] is now a Venezuela favorite, traders call it ‘an innovation’

When I searched about Venezuela current situation,I came to know about "Venezuelan City Launches Its Own Currency Amid Cash Crunch" which is type of local currency other than their national currency which was launched at the beginning of 2018.Many stories says that people moved to crypto for the daily transactions but there is no proof for that to be happened.

That's fuckin' easy to say if you're not living in Venezuela.

Very informative post, OP.  I must have missed it back in August for some reason, and I've since read some about how bad the situation is in Venezuela.  I've read some hype stories about how crypto is being adopted, but I'm not sure what's true and what isn't.  Are Venezuelans using an alternate currency for everyday transactions or what?

Yeah, I've read about the mass migration to bordering countries.  That's got to be a burden to those countries and to everyone involved.  Venezuela definitely needs an overthrow of its government in my eyes, but easier said than done.

I don't doubt communism is to blame but there is also corruption that causes this type of stuff as well. I live in a country with high inflation as well and no matter how much people blame the system for these kinds of stuff don't forget that governments are to blame as well, when every single part of your politics is corrupt and steal from you to make themselves richer while promoting equal rights to you, you will end up with a bad financial crisis in the end.

If you just sell oil all the time constantly without actually doing anything else the import/export will be off balanced in the end. You will need to use the money you profit from oil to buy some other stuff overseas to balance it again. Look at Saudi Arabia, the whole world hates them but they have a lot of oil money that they invest all over the globe and when the oil money runs out they will still be fine because there is a lot of money coming from overseas to them.

Wherever we are born we just have to make the most out of it and try to survive. Every person who is lucky or unlucky enough has to find their own way to deal with it.

Yes, I strongly agree with you that such a government existence is not correct, people become poor because of the government, and Venezuela should initiate a revolution. However, the involvement of such a country without external forces is very difficult to achieve. This is a terrible country and people's lives are very difficult.

Of course as human, you will always find a way to survived in a worst situation, just like what Venezuelans are doing under the current administration. However, its going to be difficult specially if you have families to feed.

To the OP, yes, we know what's going on in Venezuela right now. I still remember that 1$ is also the same as our local money here and we even rivaled countries like Japan that time, but after so many years we went on slump because of so many factors, USD is like x50 right now, Lol. Although at the current situations, things are improving but very slow. But yeah at the end of the day, we all need to survived no matter what country you live in and put food in table.

Although $ solves most problems in life, it doesn't solve all. =)
It's more important to live with a true and faithful heart.
Regardless what one's economical condition is, there's always a way to live a fulfilled and meaningful life.

Venezuela is the worst country to live in right now given the exorbitant inflation rates and the corrupt government. The only thing citizens can do right now is to go away from the country and start somewhere else. No matter how hard the Venezuelan government tries to change what's happening in the said country, it's far for being saved and a new government with less corrupt official is the last hope from an utter destruction and anarchy. Perhaps it'll take a long time but then it's the only solution: overthrow the corrupt government and start anew.

This was originally an answer i wrote in a new topic. Decided to open a totally new one to do what dictators really hate. People who inform.

I had the bad luck of being born in Venezuela. Things are getting worse extremely fast to the point surviving it's a big challenge if you are not corrupt.

I believe that not only communism is to blame, but also to the people who allow it and support it inside a country. Nicaragua and Mexico are on their way to this situation in a matter of some years.

Dollar, decades ago was almost as the same price as Venezuelan currency, thanks to the big production of oil mainly. The situation have been degenerating incredibly fast. This year, the annual inflationary rate quadrupled in a matter of two months to 18,000%.
https://www.miamiherald.com/news/nation-world/world/americas/venezuela/article210282264.html

Right now, the inflationary rate is around 42,000% and rapidly growing everyday that passes by.
https://www.twitter.com/steve_hanke/status/1012790558924984322

Do you imagine going to the buy something right now and then you go in some hours and the price went up? It could happen right?. Not a bad thing - What about that happening everyday without exception?

https://www.youtube.com/watch?v=rmQfpkIkgsA

Remember how i said that the Venezuelan currency used to be almost at the same price as the dollar? Right now $1 equals 6.000.000.000bs and going up everyday. The past president Chavez took three zeros out of the currency so the mental impact wasn't so bad, instead of solving the problem. They decided to take five zeroes out of the currency instead of only two. It will start on August 20th.

More info: https://www.ndtv.com/world-news/inflation-hit-venezuela-to-remove-five-zeroes-from-currency-1889867

And here: https://www.youtube.com/watch?reload=9&v=I9tH8DTqUZo

If you think things are bad in your country, look again. You might be missing a couple of things to be grateful for. It should be an example for all countries, to not be a rich country and at the same time the poorest country in the world.