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Venezuela: How could such a rich country become so poor (Part I) - 3 days ago, 19:14

Luis Franceschi

Air France Flight AF 0368 left Paris’ Charles de Gaulle Airport for La Guaira, Caracas, on January 12 at 9:05am. I was on board. As the plane took off, I checked the local currency exchange rate in Venezuela. It was at 900 bolivars to the dollar.

Nine hours later, we landed at the Caracas’ La Guaira Airport. A majestic run down and lonely international airport that speaks of better days; it has the scent of long-gone but extremely wealthy days. I checked again the exchange rate; the dollar was now at 2,200 bolivars.

By the time my passport was stamped, crossed customs and came out of the airport, the dollar was at 2,500. I then realised that I had become a millionaire in just 10 hours.

I had unbelievable purchasing power. I had amassed a fortune and it would grow by the hour, provided I did not change my few dollars into thousands ...
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