Venezuelans Turn To Gold Nuggets As The Local Currency Implodes

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Assessment: The post Rapture third judgment of the tribulation, Revelation 6:5-6, will bring hyperinflation on a global scale. The use of fiat paper money will be over as the world reverts back to an ancient medium of exchange before that also becomes worthless …

The Venezuelan government recently lopped off six zeros from its hyperinflating currency, the bolivar. The highest denomination currency note of 1 million bolivars, worth less than $0.25, was replaced by a one-bolivar note. At the same time, a 100-bolivar note, worth about $25.00, was introduced as the new highest denomination of the bolivar.

The currency conversion was designed  to spare the government the embarrassment of having to issue a 100-million bolivar note to enable people to purchases everyday items without having to carry around bundles of notes, given that the price of a loaf of bread had risen to 7 million old bolivars.

They will throw their silver into the streets, And their gold will be like refuse; Their silver and their gold will not be able to deliver them In the day of the wrath of the Lord; They will not satisfy their souls” Ezekiel 7:19

Of course, the arbitrary scaling down of the denomination of the currency will not slow inflation, because the new currency notes can be printed just as cheaply as the old. The bolivar has already lost 73 percent of its value in 2021 alone and the IMF estimates the annual inflation rate will reach 5,500 percent by the end of 2021.

What is wonderfully surprising is the spontaneous emergence of a pure gold currency in a remote region of southeastern Venezuela around the towns of Tumeremo and El Callao.

Read More @ Zero Hedge HERE

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