India, Venezuela & Zimbabwe All Have Tragic Cash Problems

32 / GSBTC / NOVEMBER 30, 2016

The word “cash” means different things in some parts of the world than in the US, Europe Australia and many other of the more stable economies worldwide. The Venezuela crisis has been ongoing, but trials and tribulations in India have meant a population short on cash. Meanwhile, things are “bizarre” in Zimbabwe where dollars go for dollars..with a premium.

In Pushkar, India, tourists have busked for money. They were busking for cash “as a last resort.” The tourists include Europeans and Australians.  A continuing shortage of cash in India has led banks to brace for an upcoming payday.

Just weeks ago, as Venezuela continues to fall into economic turmoil, the country made it illegal to take more than $5 worth of cash out per transaction. When its citizens have cash, Venezuelans now weigh it, because the currency is so useless.