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Venezuela postpones currency move after chaos, protests
Reuters ^
| 12-17-16
| Corina Pons and Andrew Cawthorne
Posted on 12/17/2016 5:45:58 PM PST by dynachrome
Venezuelan President Nicolas Maduro suspended on Saturday the elimination of the country's largest denomination bill, which had sparked cash shortages and nationwide unrest, saying the measure would be postponed until early January.
The surprise pulling of the 100 bolivar note from circulation this week - before new larger bills were available - led to vast lines at banks, looting at scores of shops, anti-government protests and at least one death.
Maduro, speaking from the presidential palace, blamed a "sabotage" campaign by enemies abroad for the delayed arrival of three planes carrying the new 500, 2,000 and 20,000 bolivar notes.
(Excerpt) Read more at reuters.com ...
TOPICS: Business/Economy; Crime/Corruption; News/Current Events
KEYWORDS: currency; hugochavezlegacy; hyperinflation; venezuela
"blamed a "sabotage" campaign by enemies abroad for the delayed arrival of three planes carrying the new 500, 2,000 and 20,000 bolivar notes."
Didn't pay for them in gold or Swiss francs. Bolivars won't cut it.
To: dynachrome
They were probably paid for with Yuan. China just did a deal with them for more future oil supplies.
2
posted on
12/17/2016 5:53:51 PM PST
by
mrsmith
(Dumb sluts: Lifeblood of the Media, Backbone of the Democrat/RINO Party!)
To: dynachrome
“blamed a “sabotage” campaign by enemies abroad”
Maduro is using Hillary Clinton’s playbook.
3
posted on
12/17/2016 5:55:20 PM PST
by
SharpRightTurn
(White, black, and red all over--America's affirmative action, metrosexual president.)
To: dynachrome
4
posted on
12/17/2016 5:57:49 PM PST
by
LouieFisk
To: LouieFisk
I have a 1923 million mark note, printed on one side only to save mcost.
5
posted on
12/17/2016 6:02:52 PM PST
by
dynachrome
(When an empire dies, you are left with vast monuments in front of which peasants squat to defecate)
To: dynachrome
What’s up with printing 500 and 2,000 bolivar notes? They’ll be obsolete before they hit circulation.
6
posted on
12/17/2016 6:06:39 PM PST
by
KyCats
To: dynachrome
Some of the inflation notes are really beautiful work. I had a large collection, but sold it. Notgeld notes are more spectacular to look at, tho.
7
posted on
12/17/2016 6:08:27 PM PST
by
LouieFisk
To: LouieFisk
I had a trillion dollar Zim note that I gave to my sister. It was really nicely printed.
8
posted on
12/17/2016 6:11:28 PM PST
by
dynachrome
(When an empire dies, you are left with vast monuments in front of which peasants squat to defecate)
To: dynachrome
he managed to screw up the screw up
9
posted on
12/17/2016 6:21:51 PM PST
by
Thibodeaux
(Exile Barack, Exile the Wookie, Exile Malia, Exile Shasha)
To: KyCats
Citizen! Your bad attitude puts a drag on the Revolution. You are no better than the Capitalist saboteurs.
10
posted on
12/17/2016 6:23:50 PM PST
by
Tea Party Terrorist
(Why work for a living when you can vote for a living?)
To: dynachrome
Zimbabwe notes are fairly easy to come by, you can pick up a couple 50 trillon notes for about 30 buck on Ebay. But if you got an inverted Jenny stamp laying about, I'll take it off your hand for a couple of bucks. ☺
To: dynachrome
Just like the Rooskies sabotaged H->!.
12
posted on
12/17/2016 6:41:47 PM PST
by
Paladin2
(No spellcheck. It's too much work to undo the auto wrong word substitution on mobile devices.)
To: dynachrome
In a year Maduro will have to lengthen the bills to accommodate all the zeroes. The doubling time is shortening as it does in these situations. Maduro seems to have gotten his system from that world famous Economist Robert Mugabe.
13
posted on
12/17/2016 7:08:25 PM PST
by
arthurus
To: dynachrome
I think Zimbabwe ran the zeroes up to the quadrillions.
14
posted on
12/17/2016 7:09:34 PM PST
by
arthurus
To: dynachrome
I bought 5 100,000,000,000,000 Zim dollar notes on eBay a few years ago. A half quadrillion! Gave one to my cousin and one to a friend. Figured the three of us would never be poor.
On a more serious note, this reprieve of the 100 Bolivar note comes a little late for the people who burned them or destroyed them after missing the deadline for exchanging them for even more worthless 50s. I wonder, do they have lamp posts in Venezuela?
15
posted on
12/17/2016 7:45:10 PM PST
by
hanamizu
To: hanamizu
“do they have lamp posts in Venezuela?”
Probably sold for scrap to buy food.
16
posted on
12/17/2016 7:47:14 PM PST
by
dynachrome
(When an empire dies, you are left with vast monuments in front of which peasants squat to defecate)
To: SharpRightTurn
[blamed a sabotage campaign by enemies abroad]
Those darn Russians again!!!
17
posted on
12/17/2016 7:48:45 PM PST
by
SaveFerris
(Hebrews 13:2 Do not forget to entertain strangers, for ... some have unwittingly entertained angels)
To: dynachrome
bet he coulda bought sever quadrillion worth of these for next to nothing and overprinted zimby wi venz...
18
posted on
12/17/2016 9:19:48 PM PST
by
Chode
(You Owe Them Nothing - Not Respect, Not Loyalty, Not Obedience, NOTHING! ich bin ein Deplorable...)
To: SharpRightTurn
Yeh> Give me some of that old time socialism, Maddie. Show the world how successful it really is.
Oh, and by the way, you got change for a $10 million dollar Bolivar bill? I want to buy a cup of coffee.
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