Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Venezuela Throws In The Towel On Hyperinflation: Will Print 200x Higher-Denominated Bills
Zero Hedge ^ | 10-27-16 | Tyler Durden

Posted on 10/27/2016 2:28:25 PM PDT by dynachrome

Venezuela’s government, slammed by hyperinflation has finally thrown in the towel, and is planning to issue new bills in December with larger denominations—up to 200 times higher than the current biggest bill, according to people familiar with the plans. The move marks an implicit acknowledgment by the government that skyrocketing prices have slashed the value of the currency

The new coins and notes will go up to 20,000 bolivars, according to people close to the central bank, the finance ministry, the country’s banks and bill suppliers. This would make the biggest note worth $15 on the black market.

And since by doing so the government will tacitly admit that it has lost control over prices, It will also create a self-fulfilling prophecy of even higher prices, sending the country's hyperinflation into overdrive.

(Excerpt) Read more at zerohedge.com ...


TOPICS: Business/Economy; Crime/Corruption; Foreign Affairs; News/Current Events
KEYWORDS: hyperinflation; venezuela; venezuelacrisis; walkingdeadeconomy
Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-66 next last
To: BenLurkin

You never go full Weimar.


41 posted on 10/27/2016 3:04:04 PM PDT by fieldmarshaldj (Je Suis Pepe)
[ Post Reply | Private Reply | To 7 | View Replies]

To: dynachrome

COMING SOON TO A FIAT PAPER CURRENCY NEAR YOU!


42 posted on 10/27/2016 3:05:03 PM PDT by Dick Bachert (THE 4TH ESTATE HERE HAS BECOME A 5TH COLUMN. TREASON TRIALS COMING?)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Billthedrill

hey those puppies are selling for $60 to $70 each on Amazon

I’m waiting for the price to come down


43 posted on 10/27/2016 3:07:10 PM PDT by TexasTransplant (Idiocracy used to just be a Movie... Live every day as your last...one day you will be right)
[ Post Reply | Private Reply | To 3 | View Replies]

To: ctdonath2

“Print how? They have to outsource manufacturing their currency, and nobody will take the job because the money is worthless.”

Yes. They ran into this problem just about a year ago. Maybe Iran will use some of our $158 billion that Obama gave them to pay the printers.


44 posted on 10/27/2016 3:09:29 PM PDT by VanShuyten ("a shadow...draped nobly in the folds of a gorgeous eloquence.")
[ Post Reply | Private Reply | To 29 | View Replies]

To: TexasTransplant
...hey those puppies are selling for $60 to $70 each on Amazon

I bought three of them a couple of years ago for about $10 apiece. Shortly afterward they started "honoring" them again and the price went to pennies. I am DEFINITELY not the guy to talk to about arbitrage.

45 posted on 10/27/2016 3:09:42 PM PDT by Billthedrill
[ Post Reply | Private Reply | To 43 | View Replies]

To: Nip

*** “The one hundred trillion dollar Reserve Bank of Zimbabwe list for on E-Bay? 30 cents” ***

They must be gouging over at Amazon ... they are listed at $60 to $70 each

I would buy a stack of them for $.30 each ... just to send them to my Lib Relatives


46 posted on 10/27/2016 3:10:06 PM PDT by TexasTransplant (Idiocracy used to just be a Movie... Live every day as your last...one day you will be right)
[ Post Reply | Private Reply | To 40 | View Replies]

To: rovenstinez

The zimbabwe school of mugabenomics


47 posted on 10/27/2016 3:10:58 PM PDT by dynachrome (When an empire dies, you are left with vast monuments in front of which peasants squat to defecate)
[ Post Reply | Private Reply | To 5 | View Replies]

To: TexasTransplant

I wish I had picked some up when they were a few dollars each. Maybe the price will crash like Beanie Babies.


48 posted on 10/27/2016 3:12:48 PM PDT by KarlInOhio (" T'was the witch of November come stealin' " And who could the stealing Witch of November be? Hmm?)
[ Post Reply | Private Reply | To 43 | View Replies]

To: Billthedrill

I’m just a casual observer ... I looked them up once on Amazon so you know the drill... (Bill) I get all of the Ads for Zimbabwe money everywhere ... (You Tube, Email, Search etc)
;^)


49 posted on 10/27/2016 3:14:16 PM PDT by TexasTransplant (Idiocracy used to just be a Movie... Live every day as your last...one day you will be right)
[ Post Reply | Private Reply | To 45 | View Replies]

To: All

“that skyrocketing prices have slashed the value of the currency”

Are people really this stupid?


50 posted on 10/27/2016 3:14:42 PM PDT by TheTimeOfMan (A time for peace and a time for war)
[ Post Reply | Private Reply | To 48 | View Replies]

To: PAR35

Fine solution. BTW Hitler too was a Socialist.


51 posted on 10/27/2016 3:18:16 PM PDT by Don Corleone (Oil the gun, eat the cannolis, take it to the mattress.)
[ Post Reply | Private Reply | To 38 | View Replies]

To: dynachrome

Weimar Republic.


52 posted on 10/27/2016 3:18:18 PM PDT by headstamp 2 (Fear is the mind killer.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: dynachrome

I wonder if any of them saved up for Retirement?


53 posted on 10/27/2016 3:22:12 PM PDT by EnglishOnly (Fight all out to win OR get out now.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Billthedrill
Socialism will make you rich!

Note how the illustration on this 100 quadrillion note looks a lot like a pile of excrement!

Venezuela will have a hard time following suit, Zimbabwe has done so well once China started backing it! China has said adios to Venezuela & Maduro (mostly)!

54 posted on 10/27/2016 3:29:03 PM PDT by SES1066 (Quality, Speed or Economical - Any 2 of 3 except in government - 1 at best but never #3!)
[ Post Reply | Private Reply | To 3 | View Replies]

To: dynachrome
The perfect solution... our 'Resident should just toss them a few coins, and make it all better...


55 posted on 10/27/2016 3:30:39 PM PDT by C210N
[ Post Reply | Private Reply | To 1 | View Replies]

To: dynachrome

Causing the cost of a loaf of bread to increase an equal amount or more.


56 posted on 10/27/2016 3:31:00 PM PDT by bgill (From the CDC site, "We don't know how people are infected with Ebola")
[ Post Reply | Private Reply | To 1 | View Replies]

To: Don Corleone
BTW Hitler too was a Socialist.

Not as much so as the Strasser brothers and the others of the Schwarze Front crowd. The nationalist wing reduced the socialist influence in 1934. Cleaned up some of the homosexuals at the same time.

57 posted on 10/27/2016 3:36:37 PM PDT by PAR35
[ Post Reply | Private Reply | To 51 | View Replies]

To: PAR35

But other “gays” joined them


58 posted on 10/27/2016 3:37:17 PM PDT by HiTech RedNeck (Embrace the Lion of Judah and He will roar for you and teach you to roar too. See my page.)
[ Post Reply | Private Reply | To 57 | View Replies]

To: dynachrome

One of the first problems that the Weimar Republic faced was Hyperinflation. Money became so worthless that children could play with stacks of it. People's savings were wiped out causing widespread discontent and civil unrest.

Fun for the kids--until the food and fuel supply ran out.

Then the paper money was burned for heat--and the poor dog ended up in the stewpot.

59 posted on 10/27/2016 3:56:04 PM PDT by henbane
[ Post Reply | Private Reply | To 1 | View Replies]

To: dynachrome

One of the first problems that the Weimar Republic faced was Hyperinflation. Money became so worthless that children could play with stacks of it. People's savings were wiped out causing widespread discontent and civil unrest.

Fun for the kids--until the food and fuel supply ran out.

Then the paper money was burned for heat--and the poor dog ended up in the stewpot.

60 posted on 10/27/2016 3:56:04 PM PDT by henbane
[ Post Reply | Private Reply | To 1 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-66 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson