written by Roraima90 February, 2nd, 2019
What are we Venezuelans doing with hyperinflation?
What is hyperinflation? Simply put...Google it
In Venezuela the currency is called Bolivar Soberano. It came into circulation December 2016. The previous name was Bolivar Fuerte the 100 note was removed by the government.
The
source:http://www.worldometers.info/world-population/venezuela-population/
Is of my interest,
because I was born in Caracas de Capital, and lived in los Palos Grandes. This plaza you see here was a few blocks away from my house, and was place were I played many times. The Plaza is now called Francia also known as Altamira.
source:
My childhood in Caracas was wonderful back in the mid 80`s. I remember purchasing a pair of white Pony Shoes for 300 Bolivares. Bolos we called them. I used 3 bills of these brown 100 note.
I was 11 when we moved to Miami. Lucky me, some people have said. Because I was a child in Venezuela, I never worked there or dealt with real issues, or transacting using money. Moving to the US was like being disconnected, unplugged, pulled away from the reality of Venezuela. I grew up in a new culture. I had no worries about safety, lack of food, medicine, muggins, kid napping, murder, etc. The things that are rampant in Venezuela according to the media, and to some Venezuelans I have met in the States. First hand, I do have family which they go every 15 days from Venezuela to Colombia to buy medicine, and food. All the horrible things current Venezuelan have to worry about, I did not have to.
In the US at age 15 I began to work, so I transacted with US money, and bought a car at age 16. Cool, America is wonderful. Also, public schools I could wear any style of clothe I wanted. No uniform. Cool, but I had to work more in order to afford name brand stuff. All I cared for was getting stuff, but not giving stuff. When I was in the 10th grade in high school, I dropped out. With school out of the way I was able to work longer hours to buy more stuff. After 10 years of working different jobs, and without high school, I got my GED. I was influenced by the Seventh Day Adventist Christians. Most all of the youth from church went to college, so I wanted to do the same. Well, I got older, learnt different skills, at age 43 I earned a Business Degree, have owned 3 houses, got married twice, have owned few motorcycles, over 15 different vehicles because in America, all this is possible.
I am in disbelieve to see what is going on in Venezuela. The hyperinflation pushing the people who live in Venezuela to hunger, desperation, danger, illness, chaos, fleeing out, etc. A survival race. For more than 5 years I have been hearing more about the hyperinflation of Venezuela. Simultaneously, I too have been hearing of hyperinflation coming to the United Sates.
Either way, on earth most people will only serve themselves. Back to Venezuela...
FORBES: Venezuelas economy was the envy of South America - https://www.forbes.com/sites/garthfriesen/2018/08/07/the-path-to-hyperinflation-what-happened-to-venezuela/#502b35ad15e4
THE ECONOMIST: Venezuela was the richest country in South America; it is now among the poorest-
https://www.economist.com/the-americas/2017/01/28/as-venezuela-crumbles-the-regime-digs-in?fsrc=scn/fb/te/bl/ed/asvenezuelacrumblestheregimedigsin&fbclid=IwAR3x9ocOjltFnj84DcCNh06XkMCxHbSGkmguXNAkeh5cUmK8D9iCNwbSl8Q
Before 1998 the stock market cap of Venezuela had dropped, but life was somewhat normal.
source: https://fred.stlouisfed.org/series/DDDM01VEA156NWDB
Since 1999 trough current date, Venezuela has had two presidents. In a span of 20 years Venezuela has fallen in a black hole of hyperinflation. I left Venezuela way before all this nightmare. So I have not lived the hell most Venezuelan live. What hell? Pick any hell you want. All of it is in there.
What are Venezuelans doing? Surviving of course, and many are migrating:
source: https://migrationdataportal.org/blog/latin-americas-response-venezuelan-emigration
In 2003 I took a 3 week mission trip to Caracas. Everywhere was busy. We were escorted and advised by local church members how to stay alive in Caracas. I noticed many orientals in the grocery stores. Every grocery store I went, Chinese were running the stores. That was weird to me. Venezuelans get out of the country, and the Chinese get in. When I left in 1987 the few Chinese I remembered were at Chinese restaurants. Good food too.
(This 2003 and I am the handsome one in the picture)
Much time has passed, and many things have changed since I last was there. I love my country, and I love the US for allowing me to have everything. I want to help both countries. To my opinion, one way of helping both countries is by saying positive things. Masses in both countries already engage in hate attitudes towards authorities, leaders etc. I have lived in the US, and have met people who complain about the simplest insignificant issues. I am abroad now, just miles away from Venezuela in Colombia. In live in a city with 2.2 million people. I use the public transportation system, have lost weight due to walking everywhere, and when I take the bus, these are full of people hanging on. I rarely get to sit down. People are everywhere. Here is like ants so many motorcycles, cars, bicycles, and people on mules and horses. Everyone here co-exists with each other.
Since 2016 at least 600,000 Venezuelans have gone into Colombia. One day on a bus a young man from Venezuela told me he had walked 7 days to reach Medellin. The ones I have met with a business are few. A family of 4 has a restaurant, another family of 3 has a coin laundry mat, some are servers at restaurants, but many, many more are on the streets selling gum, candy, etc.
One day on the busy streets of Medellin shopping districts. Where are thousands of stores, street vendors, etc everywhere, I saw something interesting. I have seen this before in TV, but no in person. On the sidewalk of an extremely congested road sat a man on a crate. He was weaving stuff. On a black plastic bag he was displaying his art. Wallets, crochets, purses, belts, and bags. All of them made of 100% Real Venezuelan bank notes.
source: (Blu C6 camera my phone)
On December 11th, 2016 Venezuelan government published decree Gaceta Oficial extraordinaria 6.275 decree 2.589 that removes from circulation all Bolivares Note 100
source: https://www.panorama.com.ve/politicayeconomia/En-Gaceta-Oficial-la-salida-de-circulacion-de-los-billetes-de-100-bolivares-20161212-0104.html
The 100 Bolivares note in 2016 was the bill most used. After the decree those stuck with the 100 Bolivares notes, where instantly broke, poor, bankrupt. People had stacks, and stacks of 100 Bolivares
People went crazy trashing all their bills:
Many Venezuelans burnt the bills. Piles and piles where thrown away on the streets, in the garbage. It was out of this world.
Some decided to positively push through the craziness.
A few people had an inner power, some sort spiritual strength, or ability, I do not know what to call it, but they took a worthless currency, and are turning them into a symbolic items, that with hope, and productivity, we can live better.
This man has turned an useless item (devaluated Venezuelan bank notes) and has created items of value. One unique crochet may take 150 full bills. The bills printed in 2010 value at that year 15,000 Bolivares. The artisan said: " In 2010 with 15,000 Bolivares you could purchase a descent used car". Today all these bills, weaved into an art like a wallet, or a purse is worth $50-$70 dollars in the States and more in Europe with collectors.
What are we Venezuelans doing with hyperinflation?
We are ingenious with true spirit of freedom and liberty. We keep the flag up. If the flag is burning, we will not let it be destroyed. We are capturing, in time capsules, the very same money that is disappearing.
source: https://www.elperiodico.com/es/internacional/20170727/la-crisis-de-venezuela-en-cifras-6194037
to support and to get a symbolic art:
visit us at: Facebook Market Place: Currency for Change