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  • » Venezuela cash crisis worsens as new bills fail to arrive

#1 2016-12-15 23:06:22

SpacePete
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Registered: 2014-03-01
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Venezuela cash crisis worsens as new bills fail to arrive

72 hour deadline to hand in old notes, but new ones not available:

Venezuela cash crisis worsens as new bills fail to arrive

Venezuela's cash crisis just got worse.

New money was supposed to arrive Thursday so that Venezuelans could swap their old cash for new bills and coins.

On Sunday, Venezuela's President, Nicolas Maduro, said in a radio address that he would give people 72 hours to exchange their 100 bolivar notes for coins of the same face value. The announcement came just a week after the country said it will replace the 100 bolivar note with six other bills, worth between 500 and 20,000 bolivars, starting December 15.

The government-set deadline is here. But the new bills haven't arrived at many banks and ATMs even as Venezuelans are standing in endless lines waiting to exchange or deposit their cash.


"Nobody has the new bills...Nobody," says Alejandro, a 24-year old who lives in Maracaibo, Venezuela. Alejandro, who requested CNN not use his full name, said the shops he visited Thursday didn't have the new cash. "With the 100 bolivar bill, nobody can pay for anything."

http://money.cnn.com/2016/12/15/news/ec … s-delayed/


Catus amat piscem, sed non vult tingere plantas

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#2 2016-12-15 23:48:21

Shaddam IV
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From: House Corrino
Registered: 2010-03-22
Posts: 6,241

Re: Venezuela cash crisis worsens as new bills fail to arrive

I don't understand why Venezuelians are complaining. The state of their country and economy is exactly normal for a socialist state. If they want something different then they will have to choose a different system.

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#3 2016-12-16 02:04:28

whinfell
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From: Australia
Registered: 2012-03-22
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Re: Venezuela cash crisis worsens as new bills fail to arrive

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#4 2016-12-16 02:38:34

Ipv6Ready
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From: North Sydney
Registered: 2016-01-08
Posts: 2,092
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Re: Venezuela cash crisis worsens as new bills fail to arrive

Shaddam IV wrote:

I don't understand why Venezuelians are complaining. The state of their country and economy is exactly normal for a socialist state. If they want something different then they will have to choose a different system.

100% this is what the majority wanted. Normally I would refrain from laughing about human suffering but in this case what the hell... bahhahhahhahhahhaaaa


Interested in a wide variety of low premium legal tender World Silver coins, average conditions is fine.
Will pay a decent premium for a variety different silver coins in single lots, not looking 10, 20 or more of same coins.
Note I tumble these to clean them before I put it in jars for display, so I dont want to buy any rare coins for preservation.

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#5 2016-12-16 03:37:08

systematic
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Registered: 2010-06-06
Posts: 6,412
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Re: Venezuela cash crisis worsens as new bills fail to arrive

I doubt they ticked "socialism" at the ballot box ....


if everyone is thinking the same, we aren't thinking very much ...

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#6 2016-12-16 03:40:47

Ipv6Ready
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From: North Sydney
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Posts: 2,092
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Re: Venezuela cash crisis worsens as new bills fail to arrive

systematic wrote:

I doubt they ticked "socialism" at the ballot box ....

I'm talking about people who voted the party in.
Members here talk about capitalism, socialism, communism etc etc. however in the real world all three are hard to say work in text book sense.


Interested in a wide variety of low premium legal tender World Silver coins, average conditions is fine.
Will pay a decent premium for a variety different silver coins in single lots, not looking 10, 20 or more of same coins.
Note I tumble these to clean them before I put it in jars for display, so I dont want to buy any rare coins for preservation.

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#7 2016-12-16 03:42:33

Ipv6Ready
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From: North Sydney
Registered: 2016-01-08
Posts: 2,092
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Re: Venezuela cash crisis worsens as new bills fail to arrive

Plus the party or president the the people voted in was running with the platform of doing the same for the last four or five elections (though the last president died)


Interested in a wide variety of low premium legal tender World Silver coins, average conditions is fine.
Will pay a decent premium for a variety different silver coins in single lots, not looking 10, 20 or more of same coins.
Note I tumble these to clean them before I put it in jars for display, so I dont want to buy any rare coins for preservation.

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#8 2016-12-16 03:49:44

systematic
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Registered: 2010-06-06
Posts: 6,412
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Re: Venezuela cash crisis worsens as new bills fail to arrive

Political systems are based on ideology ... the reality is the masses get screwed ... while a select few profit from the corruption ... we have the same system in Australia ...


if everyone is thinking the same, we aren't thinking very much ...

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#9 2016-12-16 03:53:47

systematic
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Registered: 2010-06-06
Posts: 6,412
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Re: Venezuela cash crisis worsens as new bills fail to arrive

The events in Venezuela is an example of a social experiment when the money system breaks down ... don't laugh at them because they aren't shifting to gold and silver ... they might be laughing at us because we may as well be stacking rocks ...


if everyone is thinking the same, we aren't thinking very much ...

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#10 2016-12-16 03:53:55

Ipv6Ready
Silver Stacker
From: North Sydney
Registered: 2016-01-08
Posts: 2,092
Trades :   38 

Re: Venezuela cash crisis worsens as new bills fail to arrive

systematic wrote:

Political systems are based on ideology ... the reality is the masses get screwed ... while a select few profit from the corruption ... we have the same system in Australia ...

True, but if the situation got as bad, you'd hope we would at least try out the other morons


Interested in a wide variety of low premium legal tender World Silver coins, average conditions is fine.
Will pay a decent premium for a variety different silver coins in single lots, not looking 10, 20 or more of same coins.
Note I tumble these to clean them before I put it in jars for display, so I dont want to buy any rare coins for preservation.

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