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Socialism in practice: Venezuela’s currency is valued lower than ‘World of Warcraft’ tokens

(AP Photo/Ariana Cubillos)

Venezuela has been having a rough time after their socialist communist dictator Nicolás Maduro seized complete control of the country and sent it to the brink of collapse.

Things have gotten so bad for the country’s economy that their stores are running out of food and their hospitals are running out of medicine. Now, their currency has tanked to the point where the popular online video game World of Warcraft’s currency is worth more than Venezuela’s currency.

Back in July, Twitter user Kaleb noticed that the Venezuelan Bolivar was worth less than the golden tokens used in World of Warcraft.

Kaleb found that the black market value of the bolivar had tanked, which is different from the official exchange rate set by the government. The bolivar has dropped even further than when Kaleb originally reported the World of Warcraft comparison. According to Dolar Today, the currency is now at 13,780 bolivars per U.S. dollar.

The government currently lists the exchange rate as 10 bolivars per U.S. dollar, but given the controversy surrounding the Venezuelan president, many are skeptical.

This news comes as President Trump signed a bipartisan bill to impose financial sanctions not only on Venezuela, but also Russia and North Korea.

Treasury Secretary Steve Mnuchin said on Monday that the past weekend’s election to overhaul the Venezuelan constitution proves that Maduro is a dictator.

“Yesterday’s illegitimate elections confirm that Maduro is a dictator who disregards the will of the Venezuelan people,” Mnuchin said. “By sanctioning Maduro, the United States makes clear our opposition to the policies of his regime and our support for the people of Venezuela who seek to return their country to a full and prosperous democracy.”

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