Hyperinflation in Venezuela
August 12th, 2018 at 6:49:59 PM permalink | |
Fleastiff Member since: Oct 27, 2012 Threads: 62 Posts: 7831 | Migration of goods, currency and gold matters. Migration of refugees? Who cares? They are poor. |
August 22nd, 2018 at 8:22:31 PM permalink | |
Fleastiff Member since: Oct 27, 2012 Threads: 62 Posts: 7831 | AlJazeera reports that US Dollar infusion has not halted hyperinflation. |
August 23rd, 2018 at 4:51:52 AM permalink | |
Pacomartin Member since: Oct 24, 2012 Threads: 1068 Posts: 12569 |
I think you mean to say that "AlJazeera reports that new currency infusion has not halted hyperinflation." The new "Bolivar Soberano" currency is worth 100,000 "old" Bolivares. Someone dramatically showed how much of the old currency you need to have $1 equivalent The new Bolivar Soberano is officially worth about 40 cents, but seems to be actually worth about 10 cents. So the larger banknotes are worth US$20 and US$50 on their debut. The smallest banknote will be worth 20 cents. |
August 23rd, 2018 at 6:39:16 AM permalink | |
Fleastiff Member since: Oct 27, 2012 Threads: 62 Posts: 7831 | Wow, that sure is a whole stack of money to lug around. It seems even people with lots of those stacks are leaving homes behind simply because even with stacks of currency there is no food for them to buy since somewhere in the pipeline there are always people with bigger stacks. |
August 23rd, 2018 at 4:00:36 PM permalink | |
Pacomartin Member since: Oct 24, 2012 Threads: 1068 Posts: 12569 |
People just throw away the bills as they are worth much less than a penny. |
August 25th, 2018 at 8:45:33 AM permalink | |
Fleastiff Member since: Oct 27, 2012 Threads: 62 Posts: 7831 | Peru has tightened its borders against the Venezuelan hordes, a 7.3 earthquake has shaken things up a bit, but still the entire nation is in collapse but for the despot and his cronies. PetrolCoins won't work, new printing presses won't work. They need a Coup d' Etat, but they don't have enough people left in the country to stage one. |
August 25th, 2018 at 9:03:28 AM permalink | |
AZDuffman Member since: Oct 24, 2012 Threads: 135 Posts: 18136 |
I wonder if the leftist party in Peru is calling people who want to secure the border racists and xenophobes? The President is a fink. |
August 25th, 2018 at 7:44:44 PM permalink | |
Pacomartin Member since: Oct 24, 2012 Threads: 1068 Posts: 12569 |
They only have two new coins worth a dime and a nickel. The banknotes are worth 20 cents and on up to $20 (with a rare $50 bill) |
August 25th, 2018 at 8:11:53 PM permalink | |
Fleastiff Member since: Oct 27, 2012 Threads: 62 Posts: 7831 | I was referring to some press releases I barely remember wherein Venezuela tried to institute a CryptoCurrency based on Petrol. |
August 25th, 2018 at 10:34:08 PM permalink | |
Pacomartin Member since: Oct 24, 2012 Threads: 1068 Posts: 12569 |
Well they are related. The bolívar soberano (Sovereign Bolivar) or those new banknotes are tied to the petro coin (cryptocurrency) value. |