Socialist Venezuela Runs Out of Money to Print Money

by Dave Blount | April 15, 2016 3:01 pm

One nice thing about letting Big Government run amok is that when statists have killed the goose that lays the golden eggs by taxing and regulating until the economy no longer produces wealth to confiscate, they can always just print money — or maybe not:

The world’s most renowned banknotes, coins and paper printing house, De La Rue, based in England, demanded that the Central Bank of Venezuela pay up US$262,647,997 in fees for printing money and passports, among other goods.

Apparently the De La Rue people won’t accept payment in bolívars, or else Venezuela could just have them print up some more for themselves.

If Venezuela can’t pay up, De La Rue may stop printing money for them. This could reduce socialist tyrant Nicolás Maduro to drawing extra zeroes on existing currency by hand.

Fortunately, the American economy is still sound, because Obamanomics calls for inflating the currency through quantitative easing, which does not necessarily require printing physical money.

They should redesign the currency, leaving more space to draw zeroes.

On a tip from Steve A. Cross-posted at Moonbattery.

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