With Venezuela’s collapsing government, “the collapse of everything else”

May 7, 2019

The political crisis in Venezuela may soon come to a head. Turmoil between the President Nicolás Maduro and opposition leader Juan Guaidó peaked last week when Guaidó called for protests against the president. Protesters hit the streets and faced violent interactions with the police before the events simmered down. For months, food and medicine prices have soared in Venezuela as it experiences some of the worst hyperinflation ever. Some have turned to bitcoin as a way to stay on top of the rapid inflation, including economist Carlos Hernández. He spoke with Marketplace host Kai Ryssdal for an update about navigating the political and economic turbulence, and why he chooses to stay in Venezuela.

“The government doesn’t seem so scary anymore. I mean, this is a dictatorship, and dictatorships are supposed to be scary,” Hernández said. “But then we see the way Maduro has been dealing with the situation, and we don’t feel scared anymore.”

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