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“When the rich wage war it's the poor who die.” ― Jean-Paul Sartre,

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by COINS NEWS 47 Views

Between 2016 and 2019, the inflation rate of the Venezuelan bolivar was 54,000,000%. Of course, no Venezuelan wants to hold bolivars, because they are worth less each day. For those who do have bolivars in their bank account, banks have strict withdrawal limits. Families use upwards of ten debit cards from different accounts and different banks just to buy groceries. Given the government’s stranglehold on finances, the average person cannot easily acquire other assets. And their bolivars are also often confiscated by police or the military.

This situation is not unique to Venezuela. Many countries’ government-sponsored currencies are rapidly devaluing, including Turkey, Nigeria, Lebanon, Zimbabwe, Argentina, Iran, and South Sudan. The privileged wealthy in those countries have no problem weathering the storm. They've abandoned the ship of local currency for the lifeboats of foreign equities and foreign currency. The poor, by contrast, have no such luxury. They are paid in local currency, pay others in local currency, and save what they can in local currency. They lack the opportunities of the wealthy. Their ships are sinking, but they have no lifeboats.

I think we are also used by the rich in the crypto field.

“When the rich wage war it's the poor who die.” ― Jean-Paul Sartre,

Based on this sentence, Do you think that poor people are being used by rich people as pawn in crypto exchange ?

submitted by /u/TiredSiri
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