Venezuela hopes to tackle the world’s worst inflation by deleting zeros from its currency

Falcon’s dollarization plan has appeared to hit a nerve with the country’s impoverished people

Intellihub editor’s note: It appears the George Soros-funded attack on Venezuelan currency may be panning out, as former political figures, like Henri Falcon, emerge on the scene to push the U.S. dollar into place.

CARACAS, Venezuela — Economic pledges may be par for the course in election campaigns, but in hyperinflationary Venezuela, the candidates’ dueling promises are going further, with the incumbent vowing to lop a few zeros off the currency, while his main challenger calls for the adoption of the U.S. dollar.

President Nicolás Maduro late Thursday briefly outlined his monetary rescue plan. In a country where a dozen eggs can cost 250,000 bolivars ($5) amid worsening inflation, he would chop three zeros off the currency — arguably bringing the price for those eggs down to 250.

“I ask you all for your prayers and support for the success of the monetary reconversion,” Maduro said in a televised event Thursday night.

Via Washington Post


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