Venezuelans Want Dollars – Not for Toliet Paper

The Dollar is an inflation hedge against the Venezuelan Bolivar.

Dollars are Valuable in Inflation Torn Venezuela.

A Robust Black Market for U.S. Dollars Has Developed.

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Veneuzuelans seek dollars to ease inflation woes

Despite the insistence of many in the “dollar collapse” crowd, that the dollar is “toliet paper”, the US dollar is coveted in many parts of the world, including Venezuela.

Further Reading

Blackmarket value of US Dollar is Skyrocketing in Venezuela LA Times (Bolivar loses 90% of its value vs the dollar in one year)

Many of the dollars the Venezuelan government gets end up on the black marketOpencanada.org

Venezuela prints more Bolivares but no one wants them causing inflation Slate

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  • Venezuelans are able to afford food and save lives via investing in bitcoin and other cryptocurrencies.

    • Smaulgld

      A VERY small percentage of a percentage of Venezuelans invest in bitcoin. gold or silver, the vast majority of Venezuelans protect themselves against inflation by holding US dollars

      • Unfoftunately, that percentage is not higher or more people would be thriving and literally saving the lives of their families. This is the power of cryptocurrencies and precious metals in the world of fractional reserve fiat money.

        • Smaulgld

          You don’t save your family by speculating on the most volatile currencies on earth.

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