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How Bad Is Venezuelan Inflation? It Is Giving Bitcoin A Run For Its Crypto-money

This is a syndicated repost published with the permission of Snake Hole Lounge. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.

Just how bad is inflation in Venezuela? A computer game with infinitely spawning enemies has a better exchange rate than the Venezuelan Bolivar.

Venezuela has a staggering inflation rate. Thanks to Venezuela’s horrid fiscal and monetary policies. there are 8,493.97 Bolivars per US Dollar in the black market.

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Then we have Bitcoin, the original cryto-currency. It has gone from under $1,000 in December 2016 to $2,755 as of Friday. Bitcoin was at $13.28 on January 3, 2013.

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Of course, Bitcoin is not issued by a Central Bank like the US Dollar. And the US is experiencing low and declining inflation.

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Except for healthcare spending per capita and college tuition.

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Yes, the US is suffering from rapid rates of increases in healthcare spending per capita and college tuition/textbooks. But even they are no where near the ridiculous levels of Venezuela’s inflation rate.

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