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Title: Venezuela Bans 100-bolivar Bank Notes Post by: fiserman on December 13, 2016, 03:35:15 AM Source: http://www.businessinsider.com/venezuela-bans-100-bolivar-note-2016-12
Quote The Venezuelan government pulled its 100-bolivar bank note out of service to combat smuggling and food shortages. Title: Re: Venezuela Bans 100-bolivar Bank Notes Post by: iamTom123 on December 13, 2016, 10:31:49 AM It is sad to note of the things happening right now in a good country like resource-rich Venezuela. Many years of wrong policies and big monetary blunders put the nation in economic problems that may lead to collapse...affecting its population and their future. Hope they can finally settle down and find solutions for the menace.
Title: Re: Venezuela Bans 100-bolivar Bank Notes Post by: Actualiteit on December 13, 2016, 11:25:02 AM Yeah that's what socialism does in a country. I'm expecting a lot of "real socialism/communism hasn't been tried yet, this wasn't REAL socialism"
Title: Re: Venezuela Bans 100-bolivar Bank Notes Post by: fiscorcle on December 13, 2016, 01:20:33 PM SO this is the second country to rake back their bank notes.
First India with their 1000 rupee take back and now this. :o What is going on in the world of fiat now? ::) Title: Re: Venezuela Bans 100-bolivar Bank Notes Post by: Sithara007 on December 13, 2016, 02:55:43 PM SO this is the second country to rake back their bank notes. First India with their 1000 rupee take back and now this. :o What is going on in the world of fiat now? ::) You can't compare this with the demonetization efforts in India. India banned the ₹500 and the ₹1,000 banknotes. The exchange value of these notes are $7.40 and $14.80 respectively. On the other hand, the 100 Bolivar note is equivalent to $0.03. Title: Re: Venezuela Bans 100-bolivar Bank Notes Post by: lafona on December 14, 2016, 04:35:14 AM Yeah that's what socialism does in a country. I'm expecting a lot of "real socialism/communism hasn't been tried yet, this wasn't REAL socialism" Yeah it is unfortunate that different countries keep repeating the same mistakes over and over again. |