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Updated 07:38 25/09/20

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Venezuela faces hyperinflationary collapse


Duncan Richardson, News Editor
31 Jul 2015, 8:33 a.m.

With inflation reported to be at least 65% it appears Venezuela is on the brink of a hyperinflationary collapse. The countries murder rate is now the second highest in the world and chronic food shortages are hurting an already suffering population.

The bolivar has lost 43% of its value in the last month alone. The falling oil price has crushed the government finances and drained the countries foreign reserves.

As the country cranks up the printing press to pay their expenses a hyperinflationary collapse now seems inevitable. In the last 12 months the money supply has expanded by 85%.The destruction of the bolivar is wreaking havoc with companies still doing business in the country.

Hyperinflation is nothing new in the last 100 years there have been 55 incidences of a fiat currency returning to their intrinsic value.

View original source at: www.zerohedge.com

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