The disastrous economic situation in Venezuela can’t be summed up in a single image. A photograph shows piles of currency throw in a gutter in Venezuela, money made worthless due to socialism. In late March 2019, a photograph supposedly showing piles of “worthless” currency thrown into gutters in Venezuela circulated on social media, attached to comments blaming socialism for the phenomenon behind the striking visual. One popular posting on Facebook was captioned, “This is a street in Venezuela. That’s money in the gutter. It’s worthless. Welcome to socialism.”: Share This is a genuine photograph of worthless money dumped in the gutter of a Venezuelan street. However, the accompanying caption presents an oversimplification of the series of events that led to this currency’s worthlessness and its discarding by Venezuelan residents. The economic collapse in Venezuela that began in 2013 is a complex matter which can’t be attributed to any single factor. News outlets such as Bloomberg, the New York Times, and Fox News have cited a wide range of issues that led to the country’s current economic crisis, including plunging oil prices, government corruption, political unrest, and socialist policies. That brew of unfavorable economic conditions has spawned massive hyperinflation which has greatly devalued Venezuela’s currency, as the Washington Post reported in January 2018:
Read more at: https://10ztalk.com/2019/04/06/fact-check-is-this-a-photograph-of-worthless-money-in-the-gutters-of-venezuela/