The Americas Venezuela Issues Digital Currency

Husky_Khan

The Dog Whistler... I mean Whisperer.
Founder
Sotnik
These new digital Bolivars as they are called will be of the same value as their current Monopoly paper money so won't be competing with it. This new SMS based currency will be easier for the government to track and monitor, especially in regards to the mass tax evasion that exists in the Latin Socialist paradise.

They're also issuing new paper currency for those who may prefer such primitive manners of commerce but minus six zeroes off the end.

Inflation cured!

 

Abhishekm

Well-known member
These new digital Bolivars as they are called will be of the same value as their current Monopoly paper money so won't be competing with it. This new SMS based currency will be easier for the government to track and monitor, especially in regards to the mass tax evasion that exists in the Latin Socialist paradise.

They're also issuing new paper currency for those who may prefer such primitive manners of commerce but minus six zeroes off the end.

Inflation cured!

Literally not worth the ink to print the zeros anymore huh?
 

Cherico

Well-known member
You want to fix that countries economy have a revolution kill all of their political leadership then put in less retarded people in charge.
 

Bear Ribs

Well-known member
Literally not worth the ink to print the zeros anymore huh?
This is actually pretty common. The US is fairly unique in having never dropped a set of zeros (The mill was originally 1/10th penny but it hasn't been used in some time and has been quietly dropped from the list of minted coins) and instead just going forward and accepting that a dollar doesn't buy as much anymore, and what was once a day's wage is now 10 minute's wage.
 

Abhishekm

Well-known member
This is actually pretty common. The US is fairly unique in having never dropped a set of zeros (The mill was originally 1/10th penny but it hasn't been used in some time and has been quietly dropped from the list of minted coins) and instead just going forward and accepting that a dollar doesn't buy as much anymore, and what was once a day's wage is now 10 minute's wage.
Yeah but they got to the point they literally can't print enough zeros on a piece of paper to be worth it. Joining the lines of Zimbabwe and post ww1 germany.Germany. Takes a special kind of either stupid and/or fucked to manage that.
 
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bintananth

behind a desk
Yeah but they got to the point they literally can't print enough zeros on a piece of paper to be worth it. Joining the lines of Zimbabwe and post ww1 germany.Germany. Takes a special kind of either stupid and/or fucked to manage that.
If your economy is managed well enough for prices to remain stable you don't need to drop zeros.

Show someone from the 1920s a homeless bum of today trading a bunch of ones and fives for a fifty and they'd be shocked until you take them to a shoe store and show them how much a pair of Converse All-Star's - which you could buy back then - costs.

EDIT: In 1917 they cost $1.00. Today they're about $60.00 after a century of inflation.
 
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LordsFire

Internet Wizard
If your economy is managed well enough for prices to remain stable you don't need to drop zeros.

Show someone from the 1920s a homeless bum of today trading a bunch of ones and fives for a fifty and they'd be shocked until you take them to a shoe store and show them how much a pair of Converse All-Star's - which you could buy back then - costs.

EDIT: In 1917 they cost $1.00. Today they're about $60.00 after a century of inflation.

And minimum wage hikes and excessively powerful unions driving costs up as well.
 

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