What Food Costs In Venezuela: Eggs $150 A Dozen, Dry Milk $100 A Pound

Thursday, June 2, 2016
By Paul Martin

By Daisy Luther
ActivistPost.com
JUNE 1, 2016

Now, those who are having difficulty finding food in Venezuela have another problem: being able to afford it. Food costs in Venezuela have soared so high, they’re practically extraterrestrial. Those who didn’t stock up on emergency food back before the government there made it illegal are now probably fervently wishing they had.

Here’s a crash course on hyperinflation.

Hyperinflation is when prices increase to ridiculous amounts very quickly, and it usually happens when a country’s currency becomes worthless due to economic collapse or deficit spending, after the government prints more money that is backed by nothing. Hyperinflation nearly ruined Zimbabwe after the government unrestrainedly printed money to fight a war. It reached a staggering 2.2 million percent increase. The most famous case of hyperinflation occurred in the Weimar Republic of Germany in 1922-1923. In these cases, hyperinflation reached 1,000,000,000,000 to 1. (source)

Let me repeat one key point: Hyperinflation occurs due to economic collapse and when the government prints too much worthless money. Sound familiar? *cough*quantitative easing*cough*

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