Thursday, August 3, 2017

Venezuela moving towards hyperinflation as currency now less valuable than virtual gold used in World of Warcraft

You know that you have reached the pinnacle of currency destruction when the virtual gold used in a fantasy online game such as World of Warcraft is more valuable than your own sovereign money.  And as Venezuela continues to move forward towards hyperinflation, especially in recent weeks, fantasy is sadly turning into reality for the Venezuela people.

Venezuela is in such dire financial straits that the country’s currency, the bolivar, is now less valuable on the black market than fictional “gold” in Blizzard’s “World of Warcraft” computer game, according to a report by Fortune magazine Tuesday. 
As of Tuesday morning, one U.S. dollar was worth 12,197 bolivars, according to Dolar Today, which tracks the Venezuelan currency’s value on the black market. World of Warcraft tokens, which can be used to buy in-game items for virtual characters or exchanged for virtual gold, cost $20. 
World of Warcraft tokens are currently worth 129,631 pieces of virtual gold in the computer game. That means one U.S. dollar is worth about 6,482 pieces of fake gold. At that rate, World of Warcraft gold is nearly twice as valuable as the Venezuelan bolivar.  – Fox Business


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