Venezuela was once the richest country in Latin America. People from America came to Venezuela to build businesses. From the 1950s to the early 1980s, the Venezuelan economy, which was buoyed by high oil prices, was one of the strongest and most prosperous in South America.
Tag Archives: hyperinflation
By simple definition, inflation is a general increase in prices and a fall in the purchasing value of money. According to the Bureau of Labor Statistics, the annual inflation rate in the US is 2.6% for March 2021. The annual inflation rate in May of 2020 was .1%. Inflation is already here in the real […]
Hyperinflation during the Weimar Republic 100 years ago Paper or fiat currency is nothing new in world history. China has a long history of printing intrinsically worthless currency dating back to the seventh century. In the 1400s the kingdom of Spain began printing paper to be used as money during military sieges.