Venezuela’s monthly minimum wage has fallen to under one dollar a month amid the worst economic and humanitarian crisis in the country’s history.
According to the website DolarToday, which tracks the real value of the Venezuelan bolívar against the U.S. dollar, the basic minimum wage of 248,000 bolivares is now worth just $0.95, equivalent to a shocking 0.59 cents ($ 0.0059) an hour.
The shocking collapse comes despite socialist dictator Nicolás Maduro raising the country’s minimum wage multiple times over the past few years, as well as releasinghigher denomination bank notes to keep up with skyrocketing rates of inflation.
Maduro’s last minimum wage hike was at the beginning of January, where he announced, “Good news regarding the protection and stability of all the workers” by raising the minimum wage by 40 percent to approximately two dollars a month while decrying an “economic war” led by the United States. – READ MORE
[give_form id=”79809″] [divider][/divider]According to a column from the Washington Post, a friend of the author sent a picture of a trash can in Venezuela.
Francisco Toro explained that “strewn about in the trash are at least a dozen 20-bolivar bills, small-denomination currency now so worthless even looters didn’t think it was worth their time to stop and pick them up.”
Hyperinflation is so bad in Venezuela that 100 20-bolivar bills are equal to just one penny. That means each bill is worth $0.0001.
Things aren’t getting any better in Venezuela, either. In fact, Toro says, instead of holding onto money in Venezuela, you should hold on to other things of value. He writes, “Rule No. 1 of surviving hyperinflation is simple: Get rid of your money. Given the speed with which money is shedding its value, holding on to it means you’re losing out. The second you’re paid you run out as fast as you can to buy something – anything – while you can still afford it. It’s better to hold almost any asset than money, because assets hold their value and money doesn’t.” – READ MORE
[give_form id=”79809″] [divider][/divider]There is no question that the “socialist paradise” of Venezuela is in dire straights.
The promise of “equality” has resulted in citizens searching through garbage heaps in hopes of finding anything edible, getting into fights over daily necessities.
What has been circulating on the internet the past few days, however, might just trump it all.
In a shocking video recording at the fishing village of Palmarito in Merida, Venezuela, a large of group of men can be seen stoning a cow to death, shouting various exclamations of frustration over their extreme hunger, The Daily Mail reported.
The men stone the cow, and the poor animal does its best do defend itself from assailants, but it’s no use.
The animal is slaughtered at the hands of the starving attackers, who then fall upon it, presumably to distribute its meat for their homes and families. – READ MORE
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