Posted on 12/05/2016 7:18:56 AM PST by C19fan
Venezuela will introduce six new bills ranging from 500 to 20,000 bolivars, the OPEC nation's central bank said in a statement on Sunday. Currently, the largest-denominated Venezuelan note is 100 bolivars (9.4 euros), which is worth just around two US cents on the black market. A two-liter soft drink bottle can cost 25 times that amount.
(Excerpt) Read more at dw.com ...
When do they begin the wheel barrel distribution?
Heading into Zimbabwean territory.
They need a one trillion note, for if you want to buy something big, like a whole bag of those Costco chicken breasts.
Paging all Commiehillarites, jump on the train to Venezuela while the ride is hot!
Hasta la vista!
The paper manufacturer gets paid in crude oil delivered at tobago
Why don’t they get ahead of the curve and issue a Gigooglian Bolivar bill?
Meanwhile, Mangobanana (Maduro) and his cronies, eat caviar and drink fine wines in their villas and yachts. Socialism is always great when you are the Govt.. Life is good for those who are more equal than others. All those Hollywood elite types who want out of the USA, can go there and buy the whole country.
Soon they will have trillions of Bolivars and yet nothing to buy with them.
Couple of years ago at a Christmas Party, I gave an “under $5 present” to a friend ... a $1,000,000 bill from Zimbabwe. Sold for $3 on Ebay.
Give it another week and the 100 bolivar note might be the smallest denomination of Venezuelan currency.
Well there ya go, problem solved.
The socialist-run economy is on the verge of collapse as its currency has lost 67 percent of its value on the black market, falling to 4,587 bolivars per US dollar, according to Dollar Today, a tracking agency.
Inflation is already in triple digits - the world's highest - and is likely to surpass four digits next year, according to the International Monetary Fund. The country's ATMs are almost without cash and its credit card payment system froze up for several hours on Friday.
FYI: The OFFICIAL Venezuelan Government exchange rate is 100 Bolivars per US dollar. Which just goes to show how far gone their sanity is! A wry comment on the current trend of USD valuation to the Bolivar is "To Infinity and Beyond!"
Actually, they need to adopt modern mathematics for their currency notes, 10^5, 10^6 etc. That way the figures won't overflow the notes!
considering they can’t afford to have them printed, they should just revalue what they have by adding three zeros to every bolivar based note they already have. 1 bolivar represents 1,000 now, 10 = 10,000 etc etc
Thank you.
I was going to respond: “sure, because it worked so well for Robert Mugabe”
I guess all the coins have been melted doen since their intrinsic value far outweighed their face value - like our silver coinage.
Heck not just silver but copper pennies.
They should just declare the bolivar on par with US Dollar problem solved.
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