Article

2019-06-13 Caribbean-Latin America

Venezuela: hyperinflation leads to new banknotes for second time in a year

[THEGUARDIAN] Venezuela is releasing new banknotes for the second time in less than a year, the central bank said on Wednesday, after hyperinflation eroded the effects of an August 2018 monetary overhaul meant to improve availability of cash.

Venezuela’s president, Nicolas Maduro

...Commie el presidente para la vida of Venezuela, successor to Hugo Chavez. Nick is his country's attempt at producing a Muammar Qadaffy, except that even though his country's sitting on an enormous puddle of oil, he can't manage to get it out of the ground...
, last year cut five zeroes off the currency and prices. The move was supposed to ease shortages of cash that pushed most of the economy toward debit and credit card operations and put heavy strain on digital commerce platforms.

Posted by Fred 2019-06-13 00:00|| || Front Page|| [11133 views ] Top
File under: Commies

#1 Didn't I read a while back that VZ could not even afford to have new currency printed? Maybe NKor presses are working at a discount as anti counterfeiting measures have been prioritized ahead of the Harriet Tubman banknote. Latest word is the Michael Obummer $3 bill has been pushed out to 2036 or so.

Posted by M. Murcek 2019-06-13 03:47|| 2019-06-13 03:47|| Front Page Top

#2 Contract out to counterfeiters in Peru ?

Posted by Dron66046 2019-06-13 09:46|| 2019-06-13 09:46|| Front Page Top

#3 I was so hoping to get my hands on a one quadrillion Venezuelan bank note and get to say "In your face $100 Trillion Zimbabwe note owners".

Posted by Gloger Spawn of the Gepids2733 2019-06-13 12:30|| 2019-06-13 12:30|| Front Page Top

#4 "Those microscopic loops and whorls that cover both sides of the note are not anti counterfeiting devices. They are zeros in the denomination..."

Posted by M. Murcek 2019-06-13 12:48|| 2019-06-13 12:48|| Front Page Top

#5 Bernie Sanders can crow that under Socialism everyone becomes a millionaire.

Posted by Procopius2k 2019-06-13 13:00|| 2019-06-13 13:00|| Front Page Top

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