Loading ...This Is The End: Venezuela Runs Out Of Money To Print New Money
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All of this brings us to today’s latest update in the sad story of Venezuela’s terminal collapse: today Bloomberg wrote a story that basically covers everything said above, noting that “Venezuela’s epic shortages are nothing new at this point. No diapers or car parts or aspirin — it’s all been well documented. But now the country is at risk of running out of money itself.”
Indeed, as we hinted three months ago, “Venezuela, in other words, is now so broke that it may not have enough money to pay for its money.”
Among the new information revealed by Bloomberg is that last month, De La Rue, the world’s largest currency maker, sent a letter to the central bank complaining that it was owed $71 million and would inform its shareholders if the money were not forthcoming. The letter was leaked to a Venezuelan news website and confirmed by Bloomberg News.