So 100 billion becomes 100 million...that'll do the trick.
Posted on 03/23/2018 10:30:37 AM PDT by rktman
Venezuela's hyperinflation is driving the government loony-tunes. That's the only explanation I can think of for why the government of Nicolás Maduro has decided to lop off three zeroes from its currency, the bolivar, to fight, he says, "economic persecution" from Columbia.
Business Standard:
"I have decided to reduce three zeros of the currency and take out of circulation the current bills and put into circulation new bills," Maduro said on Thursday during a broadcast on state channel VTV.
The President said that this new monetary denomination, which replaces the one he established in January 2017, will help the government fight the "economic war of financial persecution", which he claimed was masterminded by Colombian President Juan Manuel Santos with the help of Venezuelan opposition leader Julio Borges, Efe news reported.
(Excerpt) Read more at americanthinker.com ...
The meltdown is almost complete.
Now, on to South Africa.
I thought Putin and China were bailing them out.
I wonder how many Venezuelan-socialism-loving Hollywood celebrities will be investing in this “new currency...
Fuzzy math ping!
Might work if they remove Maduro and two other high-level zeroes.
Pretty typical of Latin American countries suffering hyperinflation. They tend to issue new currencies lopping off zeroes and if the horrible policies causing the inflation continue rinse and repeat. I am going to buy a 100,000 bolivar note on ebay right now.
Great idea! Let’s do this to our national debt!
Over what timeframe?
Remove 3 zeros every year? every month? would get a bit overwhelming to have to do it every hour.
Just a minor currency adjustment. No big deal.
Say, have you noticed how slender and svelte the Venezuelan people are looking nowadays? Only in the worker’s paradise have they come up with a cure for the obesity epidemic sweeping much of the rest of the world. It’s another huge triumph for socialism!
Nor am I.
This is exactly the scenario that James Wesley, Rawles wrote about in "Patriots". Zeroes being removed from the US dollar then new scrip being issued in exchange for the useless dollar.
I don't find "hilarious" as anywhere near humorous.
So 100 billion becomes 100 million...that'll do the trick.
Now we’re talkin’ some “zeroes” that could be eliminated.
Having been to South Africa several times...including recently...I guarantee that the leaders of South Africa won't have any more problem bring the country to its knees that Mugabe had in Zimbabwe.At least 75% of the population already live like the typical resident of Congo and once the white people leave (or die) that will become 98% in short order.IOW,the very same thing I've seen in Kenya,Tanzania and Malawi.
That's thinking ahead, Maduro - it could get hard to try and get all those zeroes to fit...
https://www.youtube.com/watch?v=s9bkwy2w4qI
This is 2nd time the Chavistas have looped off zeroes and started over again. The current bank notes are called Bolivares Fuerte, or (don’t laugh) Strong Bolivares, issued in 2008 replacing the previous bank notes at a rate of 1,000 old = 1 new. In other words, if zeroes just kept going 1,000,0000 units today = 1 unit in Dec 31, 2007.
I think Zimbabweans realized if they issued bank notes with outrageous amounts they could get Westerners as collectors and they were right. That 100 trillion note goes for $100 US on ebay.
Can they afford the paper to print the new banknotes? Or are they just gonna get some folks with really strong magic markers to work on the old ones?
Just 3 zeros. I was in Yugoslavia in the early 90s when they had just knocked 4 zeros off the currency. https://en.wikipedia.org/wiki/Yugoslav_dinar#1990%E2%80%9392;_Convertible_dinar,_YUN
The old notes were still in circulation along with the new so you had to judge value by shape and color rather than the amount printed on the paper.
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