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Didn't seem to work out for Zimbabwe, Hungary, Venezuela, etc.
by scottiebarnes 4y ago
Didn't seem to work out for Zimbabwe, Hungary, Venezuela, etc.
- whatever1 4y agoFor failed states why do you have the expectation that their currency (Fiat or otherwise) will not collapse? Venezuela was stripped of its manufacturing capabilities with the exit of foreign investment due to sanctions. Their former petroeconomy now is worth nothing. The intrinsic value of their currency is lost, as the Venezuelan gdp in absolute terms disappeared. Currency exchange rates is the least of their problems. They are out of value. Not out of valuable cash.