From Dr. Steve Sjuggerud, Editor, True Wealth:
You know the old joke about the worthless currency, right?
“The guy with the wheelbarrow full of money was robbed. They stole the wheelbarrow and left the money…”
Unfortunately, that’s the type of thing that’s happening in Venezuela today – only the story gets much worse…
I saw this type of thing firsthand when I visited Venezuela years ago…
I went to a bank in the middle of nowhere (Coro) to take out some cash.
It looked like a bus station. There was a long line, and everyone was carrying a duffel bag. I’d never seen anything like it.
It turned out, those duffel bags were full of cash… worthless cash. The duffel bags themselves were worth more than what was in them.
Today, the situation in Venezuela is much worse than when I was there.
Venezuela’s currency is worthless… If you trade…