Hyperinflation Pushes Venezuela to
Print 1,000,000-Bolivar Bills
Bloomberg (via MSN),
by
Patricia Laya
&
Nicolle Yapur
Original Article
Posted By: Ida Lou Pino,
3/6/2021 7:47:34 PM
Venezuela said it will introduce new large-denomination bolivar notes as hyperinflation renders most bills worthless, forcing citizens to turn to the U.S. dollar for everyday transactions. The country’s central bank posted a statement on its website Friday saying it would begin circulating the new 200,000, 500,000 and 1,000,000 bills to “fulfill the current economy’s requirements” without providing further details.
Reply 1 - Posted by:
SkeezerMcGee 3/6/2021 8:00:02 PM (No. 716868)
The U. S. Congress just passed a law to spend 1.9 TRILLION dollars.
12 people like this.
Reply 2 - Posted by:
Vesicant 3/6/2021 8:06:48 PM (No. 716869)
Buy the durable things you need or want now before China calls in its loans and Dementia Joe's puppetmasters tell him he has to print more money. Oops, sorry, that would be quantitative easing.
11 people like this.
Reply 3 - Posted by:
LC Chihuahua 3/6/2021 8:38:55 PM (No. 716883)
Three decades ago, Venezuela was one of the most prosperous countries in South America, and then the Communists got in control. Now look where they are today. Printing million Bolivar notes. Their currency is worthless, and the people in charge looted the country. The leaders lived large. Everyone else lives in squalor.
There is a lesson to be learned here.
19 people like this.
Reply 4 - Posted by:
OhioNick 3/6/2021 9:31:31 PM (No. 716906)
From 2017...
"How Venezuela went from the richest economy in South America to the brink of financial ruin"
https://www.independent.co.uk/news/long_reads/how-venezuela-went-richest-economy-south-america-brink-financial-ruin-a7740616.html
2 people like this.
Let's see one Troy ounce of silver ($25.28) will get you over 7,100,000 Bolivars today. How long will it be before our paper dollar becomes the same as the Bolivar? Last week banks had to pay other banks a fee to give them paper cash in exchange for US 10 year treasury bonds to be used as collateral for the overnight cash loan . If our inflation goes up over 5% we can not pay the interest on our debt bonds, yet we print more paper bills for the 1.9 Trillion $ stimulus. Folks it is time to purchase some hard non paper assets like Silver or other metals of industrial value.
4 people like this.
Reply 6 - Posted by:
rochow 3/6/2021 10:43:35 PM (No. 716926)
Coming to a hood near you! Actually, it will be all over the US!!
6 people like this.
Reply 7 - Posted by:
Grounded 3/6/2021 10:51:16 PM (No. 716929)
these days it isn't the ChiComs that are underwriting all the borrowing that is underpinning the COVID Relief spending. A huge chunk of the money is coming from the Federal Reserve. The same folks that print the greenbacks that you carry around in your wallet has been creating trillions of dollars out of thin air to buy the government debt. Talk about a sweet deal.
6 people like this.
Reply 8 - Posted by:
RuckusTom 3/6/2021 11:06:12 PM (No. 716933)
Being $30T in debt tends to do that. Oh, that's us. By the time it's said and done we'll have $50 per gallon gasoline and a Whopper, large fries and a Coke from Burger King will cost $200.
$30T in debt / 330M in population = $91,000 owed by every man, woman and child in the US. Keep in mind, that's not every man, woman and child who work (some too young, some too old or retired) in which case it'll be about $91K * 3, or $273K owed by every working adult.
Get your wheel barrel now. It'll be needed for carrying around all that cash.
5 people like this.
I’m ready to move to Central America...
0 people like this.
Reply 10 - Posted by:
NYBruin 3/6/2021 11:15:42 PM (No. 716937)
AOC’s picture should be on it
4 people like this.
Reply 11 - Posted by:
Nashville 3/6/2021 11:28:24 PM (No. 716944)
Can I get one?
0 people like this.
Reply 12 - Posted by:
Zeek Wolfe 3/6/2021 11:43:38 PM (No. 716950)
The Democrat Communist Party looks to Venezuela, Cuba and North Korea for inspiration. This is scary.
5 people like this.
Reply 13 - Posted by:
MickTurn 3/6/2021 11:46:41 PM (No. 716952)
Toilet Paper. Worthy result of a Communist Failure.
4 people like this.
Reply 14 - Posted by:
stablemoney 3/6/2021 11:56:01 PM (No. 716959)
Those Dominion machines are doing a great job. Maduro winning all elections, when they are held. Maduro keeps a personal militia in case anybody objects.
5 people like this.
Reply 15 - Posted by:
DVC 3/7/2021 12:07:59 AM (No. 716965)
Coming here soon.
5 people like this.
Reply 16 - Posted by:
Venturer 3/7/2021 7:03:48 AM (No. 717058)
I am going to plant a big garden this year.
3 people like this.
Reply 17 - Posted by:
jhpeters2 3/7/2021 8:02:59 AM (No. 717112)
New denominations for American Currency. Forget about Tubman. $200,000 bill should sport the face of 0bama (the lowest of the new bills) $500,000 Elizabeth Warren in Head Dress, $3.00 AOC, $1,000,000,000,000 Bill Gates. Thanks for all your hard work in turning the land of the free into indentured servants of China and whoever is the latest breathless marxist twit.
2 people like this.
Reply 18 - Posted by:
hershey 3/7/2021 9:28:58 AM (No. 717191)
Worked a Venzuelan station on Ham Radio the other night and wondered how high up the political chain they were to be able to broadcast...
0 people like this.
Reply 19 - Posted by:
petrichor 3/7/2021 9:43:07 AM (No. 717216)
I suspect that very few computer systems in the U.S. could survive hyper inflation. Typically, a system would allow for 11 digits which comes out to a penny short of a billion dollars. Government systems, naturally, allow for much bigger numbers as do private systems that work with Medicare, but the rest will be toast.
1 person likes this.
Reply 20 - Posted by:
Historybuff 3/7/2021 10:28:08 AM (No. 717288)
Janet Yellen says "Hold my beer."
3 people like this.
Reply 21 - Posted by:
Ribicon 3/7/2021 11:20:34 AM (No. 717344)
New America has already reached if not surpassed Weimar Germany in cultural degeneracy, and we're headed for the same economic ruin as well. The backlash will be spectacular.
1 person likes this.
Below, you will find ...
Most Recent Articles posted by "Ida Lou Pino"
and
Most Active Articles (last 48 hours)
Comments:
Dateline: Washington, DC, March 6, 2024 - - Hyperinflation Pushes USA to Print $1,000,000 Bills