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Title : Venezuela’s Hyperinflation Is Making Some Venezuelans Incredibly Rich
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Venezuela’s Hyperinflation Is Making Some Venezuelans Incredibly Rich

Miami Herald: Venezuela’s hyperinflation fuels misery for poor but enriches elite through currency exchanges

Skyrocketing prices have ruined Venezuela’s economy with many people unable to afford even basic necessities — unless you are part of tight circle of politically connected elites with access to a government-controlled currency exchange that one financial expert in Miami summed up as a “perpetual money machine for insider criminals.”

The exchange offers bolivar-for-dollar rates insulated from the country’s hyperinflation, a currency system that the socialist government of the late President Hugo Chávez first set up to stabilize the economy and lower the prices of essential goods like food and medicine for the poor.

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WNU Editor:  For those in Venezuela who have access to foreign goods and currencies, this is the time to make a killing. People are desperate, and are willing to sell what they have at pennies to the dollar. But the above article is correct .... the real winners are the ones who run the government-controlled currency exchanges. You can pick up foreign currencies at a discounted rate, and then resell it at the real rate. This is definitely a “perpetual money machine for insider criminals”, and it appears that anyone who is closely connected to the Maduro regime are in on it.

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