Currency in Venezuela

Years ago, I knew a couple who had immigrated to Florida from Venezuela. Their daughter was the same age as my son and they attended VPK together so we got together several times for "play dates". Well, as some of you parents are already well aware of, play dates can be fabulous for the parent, or akward and uncomfortable if you and the other parent(s) don't exactly click. So, as the kids are playing, here you are with perfect strangers in your house, or theirs, for HOURS. Well, with this Venezuelan couple, I enjoyed those play dates as much as the children did and quite possibly even more. They shared their story with me as to how they ended up having to immigrate to the U.S. and I was astonished. It sounded like something out of a political conspiracy novel. The bottom line was, this couple didn't vote for Chavez. They exercised their right to vote and voted for who they thought was the best candidate. The problem was, Chavez won and he wanted to punish every citizen who had NOT voted for him. Business owners started to get lists of names. Any person on this list was not "employable" and had to be terminated. Immediately. I couldn't imagine this actually happening to anyone in the modern world. It sure was an eye opener. Once they were on "The List" their days were numbered. Who can survive in a country where they have essentially been blackballed from getting any legitimate job? They had a house and nice cars. It all got left behind. They didn't have the time or opportunity to liquidate all their assets. They took what they could and ran like the devil was chasing them. Chavez has certainly been called worse.... 

So, let's fast forward to today. My husband knows a man who is extremely wealthy in Venezuela but has no power to do as he wants with his fortune. The value of their currency has diminished severely and the government has enforced stringent controls to prevent wire transfers and every other possible method of getting money out of that country. They can wire $300 ANNUALY. I can spend that in one hour at Macy's. I feel for the people there. The Government is essentially holding their citizens and their financial resources captive. 

Next blog might be about how Bitcoins

are being used by Venezuelans as a last resort effort to obtain a currency other then their own.