In this case, I think a new money supply is needed or no one will want to sell anything, as they’d be stuck with a much more depreciatimg asset.
I have a simple definition of money that I haven’t seen anywhere else:
Money is the most liquid asset in an economy.
What would that be in Venezuela at the moment? Rice?
Yes indeed, that's exactly how they solved this issue in Brazil: https://www.npr.org/sections/money/2010/10/04/130329523/how-...
[0] https://en.wikipedia.org/wiki/Assignat [1] https://en.wikipedia.org/wiki/Early_American_currency#Contin... [2] https://en.wikipedia.org/wiki/Reichsmark
In this case, I think a new money supply is needed or no one will want to sell anything, as they’d be stuck with a much more depreciatimg asset.
I have a simple definition of money that I haven’t seen anywhere else:
Money is the most liquid asset in an economy.
What would that be in Venezuela at the moment? Rice?