Venezuela-Failed Socialism and Hyperinflation

[sumi]

I remember a picture of a guy with a wheelbarrow-load of paper money needed to buy a loaf of bread- this was in a country in Africa, but it's been so long ago I can't remember which one... Zimbabwe maybe?

Probably Zimbabwe. This thread reminded me of the mess that country turned into and how their money devalued to the point where it is/was near worthless. We had many people from Zim pop across the border into South Africa to do work and shopping there, as they ended up with so little.

 

[Britesea]

That's why Ferfal, and others, recommend buying things like gold or silver as an inflation hedge. They act as protection of your cash because the value of gold and silver are actually very stable; what is NOT stable is "money" which is why the cost of gold and silver varies. An ounce (or whatever) of silver will still buy the same amount of bread whether it costs $4 or $400 in paper money.