Venezuela’s currency now so worthless, people are using it as napkins

[singular_me]

people find other ways to get by it seems

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Venezuela’s currency is now so worthless that people are using it as napkins
19th August 2015

‘An image is going round that sums up just how ridiculous Venezuela’s economy has become.

A Reddit user uploaded a picture on Monday of a man using a 2 bolivar note to hold an empanada.

http://i.imgur.com/ke2Ec47.jpg

According to Venezuela’s official bolivar-dollar exchange rate, the man using his money as a napkin is wasting about $0.31 (£0.20).

But on the black market, the reality is completely different. You can get 676.88 bolivars to the dollar, according to dollartoday.com. That means holding food with a 2 bolivar note costs the holder less than a third of one US cent.’


http://static5.businessinsider.com/image/55d2db5edd08959b318b4616-2524-1893/rtx1nlvt.jpg


more
http://www.businessinsider.com/venezuelas-currency-is-now-so-worthless-that-people-are-using-it-as-napkins-2015-8?r=UK&IR=T

[ximmy]

what is an empanada? are they tasty?

[Shami-Amourae]

what is an empanada? are they tasty?

It's like a fried calzone. Think like a hot pocket but with more Spanish/Amerindian ingredients. They can be sweet like a desert too. You can stuff them with many things.

Yes, if done right.


I prefer calzones though.

This is an awesome recipe

https://www.youtube.com/watch?v=le9ILVh1okM

I do a gluten-free version.

[madfranks]

I prefer calzones though.

When I was younger and working at this little mom & pop pizza shop, I mastered the art of calzone making. To this day I've never had a better calzone than the ones I'd make myself. The thickness of the crust has to be just right, and the ratio and placement of fillings as well. We were the only place in town that didn't charge by item, just by size. The logic was, for example if you just wanted pepperoni, your calzone would be 100% filled with pepperoni; if you wanted pepperoni, sausage and peppers, you'd get 33% of each. Some retards, once I tell them they can get as many fillings as they wanted, didn't understand that the more fillings they ordered, the less of each they'd get. One tard wanted like 20 items in his calzone one day, and he literally got a tiny amount of each.

Anyway, some of my favorite combinations: 1) Pepperoni, green olives, mozzarella and ricotta. 2) Meatballs, link sausage, green peppers, mozzarella. 3) Thick cut ham, mozzarella, ricotta (New York Style). All with a cup of fresh marinara to dip it in. Damn, I am getting hungry now.

[singular_me]

quick updates. I am listening to molyneux now...


Keiser Report: Planet Ponzi dwarfing world's economy

https://www.youtube.com/watch?v=vkSplHM-8tg


Death by the Drug of Money: Greece, Europe, America and You

https://www.youtube.com/watch?v=3RmBjLN58rU



https://www.youtube.com/watch?v=Fr_LwF6JnKg

[Plastic]

Think of all the unwashed hands that paper bill has been held by, it would be cleaner eating off a toilet seat, granted the note would have far greater eye appeal.....

[monty]

what is an empanada? are they tasty?

Some are very tasty. It depends who made them.

Empanadas are as varied as the country and culture where they are made. In Chile they are filled with fried onions, ground beef, a lice of hard boiled egg and an olive. The Chileans bake them in the oven in a pastry similar to a pie shell, but kneaded until the dough is very elastic. The Chileans also make seafood empanadas.

In Colombia they are of various sizes and fillings. They may have beef, chicken or other fillings. The Colombians deep fry their empanadas. Mexican epanadas are also deep fried.

7795
Chilean emanada de horno

[osoab]

what is an empanada? are they tasty?

Get one of these.

http://www.thedeepfryerdepot.com/image_manager/attributes/image/image_19/1097088531_4239976371.jpg

[Dogman]

Fried pies !

[BrewTech]

Amazing how quickly a thread about international currency can be derailed by food on GSUS.:)sal

[Dogman]

Imagine that !

;)

It is a wonder !

Lmao !

[cheka.]

no worries, giving their gold to nyc will save them

hugo spinning in his grave

http://uk.reuters.com/article/2015/03/10/venezuela-gold-idUKL1N0WC29220150310

Venezuela's central bank is in talks with Wall Street banks to create a gold swap that would allow it to monetize some $1.5 billion of the metal held as international reserves, according to government sources familiar with the operation.

The move would help the government of President Nicolas Maduro boost its hard currency position as the OPEC nation struggles with soaring consumer prices, chronic product shortages and a shrinking economy caused by low oil prices.

Under the swap, the central bank would provide 1.4 million troy ounces in exchange for cash, said a central bank source. After four years, it would have right of first refusal to buy the gold back, added the source, who asked not to be identified.

The ongoing talks involve at least two institutions, Bank of America and Credit Suisse, the source told Reuters.

The banks and Venezuela's central bank did not immediately respond to requests for comment.

"Work is being done to complete this operation toward the end of April," said another source, linked to Venezuela's finance ministry.

Venezuela would have to pay interest on the funds but the central bank would most likely be able to maintain the gold as part of its foreign currency reserves.

Most of Venezuela's reserves are held in gold after late socialist leader Hugo Chavez began moving central bank assets away from the dollar in the wake of the 2008 global financial crisis.

The central bank in late 2013 received proposals to carry out a similar operation, the bank's chief said at the time, but denied any agreements had been completed.

The Maduro administration faces a cash crunch due to a combination of low oil prices and hefty debt payments including the maturity of a 1 billion euro bond this month and coupon payments of nearly $700 million in April.

[Horn]

What a dirty napkin, even for a dirty empanada.

[Twisted Titan]

no worries, giving their gold to nyc will save them

hugo spinning in his grave

http://uk.reuters.com/article/2015/03/10/venezuela-gold-idUKL1N0WC29220150310

Venezuela's central bank is in talks with Wall Street banks to create a gold swap that would allow it to monetize some $1.5 billion of the metal held as international reserves, according to government sources familiar with the operation.

The move would help the government of President Nicolas Maduro boost its hard currency position as the OPEC nation struggles with soaring consumer prices, chronic product shortages and a shrinking economy caused by low oil prices.

Under the swap, the central bank would provide 1.4 million troy ounces in exchange for cash, said a central bank source. After four years, it would have right of first refusal to buy the gold back, added the source, who asked not to be identified.

The ongoing talks involve at least two institutions, Bank of America and Credit Suisse, the source told Reuters.

The banks and Venezuela's central bank did not immediately respond to requests for comment.

"Work is being done to complete this operation toward the end of April," said another source, linked to Venezuela's finance ministry.

Venezuela would have to pay interest on the funds but the central bank would most likely be able to maintain the gold as part of its foreign currency reserves.

Most of Venezuela's reserves are held in gold after late socialist leader Hugo Chavez began moving central bank assets away from the dollar in the wake of the 2008 global financial crisis.

The central bank in late 2013 received proposals to carry out a similar operation, the bank's chief said at the time, but denied any agreements had been completed.

The Maduro administration faces a cash crunch due to a combination of low oil prices and hefty debt payments including the maturity of a 1 billion euro bond this month and coupon payments of nearly $700 million in April.


The man can just print his own money interest free ....or back a sale of bonds linked to gold

The man has not a inkling of sense.

[midnight rambler]

The man can just print his own money interest free ....or back a sale of bonds linked to gold

The man has not a inkling of sense.

Or more likely something else is going on.