Silver In Venezuela up 2 Million %

Discussion in 'Current Affairs' started by sodl, Jul 13, 2018.

  1. sodl

    sodl Active Member

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    So is Venezuala the canary in the silver mine as to what is to come to the world ?
    One ounce of silver will buy 6 months worth of food
    One ounce of gold will buy you a small house
    Example of how the value of gold/silver v fiat perform in a reset.

     
    Last edited: Jul 13, 2018
  2. Skyrocket

    Skyrocket Well-Known Member Silver Stacker

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    It is but I don't think many will click or listen.
     
  3. dozerz

    dozerz Well-Known Member Silver Stacker

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  4. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    Have you been to Venezuela,

    is the house you can buy with an ounce of gold, worth $1700 aud, likely not.
    Nor is 6 months worth of Venezuelan food any good, I’d rather keep an ounce of silver...
     
  5. sodl

    sodl Active Member

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    No mate I have not been there and would not want to go there .
    I did look online at real estate prices there. Real estate in general is not up to our standards .
    As far as food goes regardless of quality and even if 1 oz of silver only bought 1 or 3 months of food then that 1 oz silver certainly goes a long way as compared to the local currency.
    Just using it as an example of what may be the reality for the future for other countries in a collapse.
     
  6. sodl

    sodl Active Member

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    bitcoin has eaten the bolivar, works on a mobile phone and easier to use than metals. https://qz.com/1300832/bitcoin-trading-in-venezuela-is-skyrocketing-amid-14000-inflation/


    Yep BTC is popular there. But as long as the power grid and/or internet is available and does not go down for whatever reason. Maybe some are bartering PM for Crypto and visa vera. For some goods and services you want it would depend on what the other party accepts as the payment exchange.
     
    Last edited: Jul 13, 2018
  7. Skyrocket

    Skyrocket Well-Known Member Silver Stacker

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    You can buy (dump) houses in the USA for $500. An ounce of gold may buy one there that is at least livable. So I don't doubt that one can buy a livable house in Venezuela for an ounce of gold.
     
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  8. Agnostic

    Agnostic Active Member Silver Stacker

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    I do not believe that one ounce of silver will buy 6 months of food in Venezuela.

    Is there any credible source for this statement?
     
  9. sodl

    sodl Active Member

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  10. sodl

    sodl Active Member

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  11. l***g

    l***g Active Member Silver Stacker

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    Why is food so cheap in Venezuela?
     
  12. ozcopper

    ozcopper Administrator Staff Member

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    It's not cheap in the local currency!
     
  13. sodl

    sodl Active Member

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    My understanding of it is that food is not cheap. Reports saying there have been murders over food.

    Those who held gold and silver prior to the reset are the lucky ones.

    Hyperinflation has hit hard. Systemic breakdown with next to no law and order.
     
  14. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    Wasn’t some Australian council selling houses for $1
     
  15. Agnostic

    Agnostic Active Member Silver Stacker

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    Thanks for posting the link.


    It is a Zerohedge article, with no source, linking to an audio discussion:

    "During the Precious Metals Webinar, Tom Cloud discussed how one ounce of silver will now buy six months of food in Venezuela. This is a perfect example how precious metals become the best stores of wealth during a currency collapse and hyperinflation."

    Quite frankly that combination of sources has limited credibility with me.

    My thought is that gold and silver are global commodities. An ounce of silver would be worth around $16 USD in Venezuela, and would buy however much food could be obtained for $16 USD. Which i do not believe would be six months worth.
     
  16. Agnostic

    Agnostic Active Member Silver Stacker

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    Paste from Quora on Venezuelan food prices:

    What is the food price in Venezuela?

    6 Answers
    [​IMG]
    Nelson Agelvis S
    , I am a college professor, consultant and travel expert in Caracas, Venezuela
    Updated Jan 1, 2018 · Author has 412 answers and 437.9k answer views


    The price of food in Venezuela is arguably the cheapest in the world, with every major globally-sold product costing much less here than anywhere else. For example, a box of Kellogs Corn Flakes, while it costs over $2 (two USD) around the globe, costs less than 75 cents in Venezuela (although the packaging is in black and white and plain non-glossy cardbord to cut costs). However, minimum wage in Venezuela is less than $3 a month and average wage is less than $5, making the Venezuelans that don’t have foreign assets or income (a few million do, especially the government socialists) the poorest people in the world, due of course to socialist economic measures that have destroyed commerce and industry, thus wages.
     
  17. Agnostic

    Agnostic Active Member Silver Stacker

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    The cheap Detroit houses were often dilapidated, in bad areas, faced very high costs to bring back to habitable condition (eg missing plumbing, wiring etc), had accrued government taxes attached, or a combination of those factors.
     
  18. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    Very true, it would have to a sucker to sell 6 months of food for 1 ounce of silver. Pretty sure the seller would get more for US dollars.
     
  19. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    However for the poorest of the poor, standard of their life has increased.
    Better getting food coupons for basics than wading through garbage.

    Looking from the prism of the average poor (the vast majority of the population) the socialist program gave than hope... hence more people still vote for Muduro.

    If one is from lower middle class and up.... sucks to be them.
     
  20. Skyrocket

    Skyrocket Well-Known Member Silver Stacker

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    I think it was just blocks of land that buyers had to build a new home.
     

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