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We start the month subtracting. Although we have been subtracting zeros from my country's currency for years. Yesterday when I published the article of the day I briefly discussed what would start to happen as of October 1st with our local currency, the bolivar. I am not an expert in economics, nor in political science, nor do I pretend to be, people who follow my posts know that my area of expertise is psychology, but I would like to try today, in a simple way, what is happening with our local currency and with our economy. Remember that I am not an expert in the matter but I do have my personal criteria, because I live it, because I am Venezuelan.
For those who do not know Venezuela, I will tell you that it has great natural beauties, it is a beautiful country, I love my country. I present it to you, those of you who live in the other part of the world: Venezuela is located on the northern coast of South America. Caracas is our capital. We have a population of almost 30 million people. We are kind people, cheerful, always giving a hand to our brother in need, at least the majority of Venezuelans are in solidarity with our fellow man. We used to have a thriving and prosperous Venezuela. But it is a bygone time. Now Venezuela is different.
The readers who always read my posts know that I am an optimistic person, always transmitting positive messages, to live the present in peace and harmony. Happiness is subjective. It's up to me to be happy or bitter, that's why I always choose to be happy regardless of my environment. But I cannot deny my environment. Because my environment is a reality. Whether it is good or bad, it is the one that is lived. For that reason, I do not deny what is happening in my beautiful Venezuela.
To give you some examples of the serious deterioration we suffer at the infrastructure level, I can tell you that all public services have collapsed. For a long time there have been thousands of blackouts due to lack of electricity. Last year we spent a week in complete darkness. Without going too far, yesterday we had several blackouts in just one day. Here it is already normal to be without energy, without water, without gas. The cause, neglect and total abandonment in the maintenance of the electrical infrastructure by the national government, who is the governmental entity in charge.
Another example is the case of public health care, which is dramatic for most Venezuelans. Hospitals and health control centers do not escape the government's negligence. Illnesses that had been eradicated are coming back. Shortage of medicines and if we manage to get them, it will be at a price that exceeds the minimum wage of many Venezuelans. Just buying a medicine can leave you without food in your fridge for a month. And with the covid19 pandemic, all Venezuelans are under the protection and mercy of God.
The maintenance of urban transportation is just as dramatic. We have a paralyzed public transportation fleet. Venezuelans who do not have a private vehicle spend long hours waiting for a bus. Or to avoid waiting they choose to take long walks, they go on foot to their destinations. Most of the private vehicles are broken down due to a lack of spare parts. Like for example my truck, which I have had in my garage for 3 months due to a lack of tires and lack of gasoline. Yes, gasoline. In Venezuela, an oil country, there is no gasoline. I do not want to go on telling about other areas, such as supplies and repair of agricultural machinery, with this brief description I think it is enough, besides I do not want to get depressed by writing this.
Do you already have an idea of what Venezuela is like today?
I tried to make a brief scenario, to give you an idea of the Venezuela of today, with the most serious economic and humanitarian crisis in the history of the country and the world, but surely you are wondering: why the permanence of the government? That is another story that I will not tell you today.
Now I will tell you about our currency. The bolivar is the legal tender in Venezuela.
As I briefly mentioned in the previous article, the bolivar has undergone three reconversions. The first one was in 2008 when three zeros were eliminated, then in 2018 five zeros, and as of today, October 1st, we have an elimination of six zeros. In less than 13 years, 14 zeros have been eliminated from the Venezuelan currency. The purpose of this elimination of zeros from the currency is to facilitate the compression of large amounts of money in economic transactions.
We have a hyperinflation that wreaks havoc at all levels at the time of payment, they are enormous amounts. We have a minimum wage that is not enough to survive. It takes 30 minimum wages to cover the basic food needs of a family. That is the reason for the exodus of Venezuelans, it is difficult to survive like this.
Before the pandemic, we entered into a process of dollarization. But not on the part of the government, because our salary is still paid in bolivars, in the national currency, which has been super devalued.
Venezuelans are paid in bolivars but we pay our commercial transactions in dollars. And we also save in dollars, for those who can save, of course. At least since I started writing in the read.cash community and earning in BCH, I withdraw my cash in bolivars and then buy dollars. Dollarization is the result of the permanent hyperinflation that has made the local currency meaningless. That is why I say that with such a decadent economy, in a country that produces nothing, we are facing a bolivar that is going to disappear. At present, it is worthless, almost on its way to extinction. The government only puts inorganic money into circulation as the main source of financing without productive backing. Every month it places subsidy bonds as economic measures.
The elimination of the six zeros to our national currency is only a make-up, in other words, a false illusion, now the amounts in commercial transactions will be minimal, but for our loss of monetary value, because in reality, we pay the same amount in dollars.
The intention of making known the ugly side of Venezuela is because of what happened today with the elimination of zeros to our already battered bolivar. It is the reality of every Venezuelan. But I keep my faith and hope. With the optimism that characterizes me, I move forward.
Living in peace and tranquility is an option and I choose it. But I take action, I move, I do not stay still, every day I remain in search of producing additional income and thanks to God in read.cash I have found it.
Thank you so much to all of you, to my sponsors, and to so many people who read my posts. You are part of my happiness. You make me reflect, that there is still hope. Thank you.