When Did Venezuelans Realize They Were Facing Hyperinflation?

Hyperinflation on a global scale isn’t too far off in the future…

by J.G. Martinez via The Organic Prepper

Seeing that hyperinflation on a global scale isn’t too far off in the future, I wanted to take the time today to address an important issue: when did the mass of Venezuelan society realize that they were living through hyperinflation? This is how things played out here…

Were there people initially deemed as crazy for shouting that hyperinflation was coming?

Hyperinflation was not an effect many people could foresee. The opposition party tried to warn about this, but with the ongoing war between the official party and the Other Side, fake news was rampant. Relying on information coming from one side or the other was challenging. That is the main reason why the inflationary tsunami caught (almost) everyone with their pants down.

The reality was that the trust level in the official party and their censorship diminished to negligible levels, where it remains until now.

That beings said, most of the economists had a good idea about what could happen. When they talked about our economy, any predictive bad news was credible. Our purchasing power had started to erode steadily in 2012. I noticed some alarming indications during this time.

Were there societal signs of hyperinflation?

Another indication of hyperinflation was the treatment given to the people suddenly called “hoarders” by the mainstream media. Some of these “hoarders” were indeed resellers looking to make easy money, but I am sure some others were only people looking to build up a pantry, just like any of us.

Prison and prosecution were the immediate consequence, even if the supplies were for their own consumption. The prestige of the enforcing agents would rise proportionally to the number of hoarders they could catch. It didn’t matter if these enforcers ruined some innocent’s life. That wasn’t a factor. What mattered was personal glory.

Every year after May 1st, when the President (way before the communists) announced an increase in salaries, prices rose. The merchants did this to absorb their rising costs. Of course, regular people who did not understand the economy could not care less about buying at a higher price because they had money available. We, regularly smart people, got some personal credit by middle February (merchants expected new inventory and were desperate for space) and could get good deals: white line, brown line, tires, etc.

Things went more or less stable those ten years until the actual thugs took the Main Office. Just see the Statista chart and see by yourselves. After Hugo’s disappearance, our economists issued plenty of warnings predicting a near economic downturn.

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