Economic Collapse Watch: Venezuela Is Now Storing Sugar In Their Central Bank’s Gold Vault


from Silver Doctors:

The situation getting worse by the day. Here’s an update (with video) on the hyperinflation and economic collapse happening in real time…

The situation in Venezuela is getting worse by the day.

We’ve got some street level prices of what goods actually cost.

To say that prices have gone parabolic is an understatement. When a one-and-a-half pound block of cheese nearly costs a month’s worth of wages (see below), you know things are very close to the end.

I have long argued that Venezuela is a taste of things to come in the United States. People counter and say, “No way, the United States is not some third world country”.

True, the U.S. isn’t a third world country. Yet.

But now I actually think things could get even worse here than in Venezuela because of an armed populace addicted to entitlements such as Section 8, Food Stamps, Obamacare, and other things the government takes care of but cannot afford.

In other words, think of the riots we get in some inner-cities when a cop shoots and kills a person. Now add in some hunger pangs, electricity being cut off because of non-payment, and a government telling us how great America is, and we have a recipe for a disaster much worse than Venezuela is experiencing.

Back on track.

We’re seeing hyperinflation in real time, and one of the craziest parts is just how hyper-inflationary things become before the whole system simply blows. Just when you think it’s about to have it’s final blow-off, it goes on for longer.

Here’s a quick run down of just how expensive some things have become, from The Organic Prepper:

One Bolivar is worth 0.000020 USD. The minimum wage is $5.21 or 1.800.000 Bs for a month. Now, how could we expect someone to live under these conditions? It is entirely unexplainable to me that this has not generated massive riots…yet.

Here are the hyperinflation costs of basic items in Venezuela
Remember, many people are paid only 1.800.000 Bs for a month:

Vegetable oil 900ml. Bottle: 748.367 Bs
Cereal mixture for milkshakes: 900Grs can: 1.057.057 Bs
Wheat flour, 1 kg: 398.750 Bs
Cheese, 1 kg: 2.160.950 Bs (yes, TWO MILLION)
Chicken and Bacon: 2.299.500 Bs
395Grs Condensed milk w/sugar: 566.144 Bs
Oatmeal 400 Grs: 550.000 Bs
1 kg. Margarine: 747.000 Bs
1Kg Chocolate mixture for milkshakes: 2.060.000 Bs
Cheese (melted-for spreading) 300 Grs: 1.097.230 Bs
Black Olives 235Grs: 1.677.120 Bs
Ladies deodorant: 890.000 Bs
Insecticide 1 can: 900.000 Bs
Mayonnaise 910 Grs.: 955.000 Bs
2 toilet paper rolls: 399.974 Bs
1 Kg. avocados: 500.000 Bs
30 Eggs: 650.000 Bs.
Dog food, dry, bulk 20Kg: 6.060.000 Bs
Dishwashing soap, cream 500 Grs: 440.000 Bs
2 door fridge: 627.900.000 Bs (yes, six hundred MILLION)
400ML. Shampoo: 2.052.050 Bs (2 million)
4 small ice cream cups: 2.072.691 Bs
Rice 500 Grs: 115.277 Bs
TV 65 inches: 329.999.990 Bs
2Lt soda: 298.000 Bs
Lemon Juice, 500ml bottle: 731.881 Bs
Light bulb, power saving: 935.000 Bs
Shoes: 5.986.825 Bs
Catfish: 465.300 Bs
Sweet corn 400Grs: 466.480 Bs
Ground meat: 1.150.000 Bs.
Steak: 1.300.000 Bs (depending on the region, usually cheaper in cattle-producing states)
Pork chops: over 1.000.000 Bs
Corn flour, 1 kg: 265.000 Bs.
Dollar price: 350.000 Bs / 1 USD

In addition, there’s a video circulating of sugar being delivered to the central bank gold vaults in Venezuela:

Some of the commentary from the video:

“Wow, this massive mobilization just to deliver sugar”
“That’s where the store the gold”
“Sugar delivered in unmarked trucks”
“Only in Venezuela”

When I was living in Mexico 18 years ago, I noticed cigarettes delivered to the convenience stores were delivered under armed guard.

To me, this is a taste of things to come.

Side note: Think autonomous-driving trucks are going to be riding all over the nation? Not if they’re carrying anything worth stealing, which is anything.

Because in Venezuela, bands of roving looters don’t even care if it’s not an autonomous-driving truck – it’s getting looted:

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