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Published 8 months ago with 1 Comments

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  • leweb
    +9

    I remember this happening before, when big devaluations were coming (although what's going on now is worse). People would take their salary and run to spend it on anything. Eggs, refrigerators, toilet paper, microwave ovens, whatever they could find. Because they knew that in a few days it'd be worth half as much.

    I like the article's point that in a normal economy, money is something you actually want to have, whereas in the bizarro world of hyperinflation, money is something you very much don't want to have. Anything is better than money. While I was there, I recall at one point that the government decided printing bills worth 1 Bolivar (instead of coins). My family used them as toilet paper. For real. It was much cheaper than buying the real thing, although it was a bit rough. You had to get new ones from the bank, and soak them in water before using. We literally wiped our asses with money.

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