It’s always useful talking about Venezuela! Why? It gives everyone an accurate depiction of socialism. Whether it is confiscating firearms, the government imposing forced labor, and a devastating shortage of necessities like bread, toilet paper, or sugar, Venezuela continues to demonstrate what happens when leftism takes over one of the most resource-rich nations in the world in the pursuit of social justice.
Now, its capital Caracas has announced it is running out of cash. CNN reports that the country only has $10.5 billion left in its reserves, and owes $7.2 in outstanding debt. Back in 2011, the nation had $30 billion in its reserves. Four years later, it cut its reserves by a third, leaving $20 billion in the bank. If the trend continues, Venezuela will run out of cash entirely.
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