Venezuela to Introduce a 1,000,000-Bolivar Banknote Worth Only $0.53.

Well, it looks like Venezuela will be adding more zeroes to its currency. I wonder how long it'll be before these become essentially worthless or if they're ever issued like the 100,000 bolívar soberano note.

https://www.bloomberg.com/news/arti...es-venezuela-to-print-1-000-000-bolivar-bills

 

Log in or Sign up to hide this ad.

Yes, unfortunately it looks like Venezuela is going to become the next Zimbabwe or already has.

 

I always wondered - what happens to people’s stock holdings when there’s extreme inflation? Are the SOL?

 

Kinda already there they revalued twice the current Bolivar soberano is equal to 100,000,000 original Bolivars on 31 December 2007 so if my math is correct a Million in Bolivers soberano would be 100 Trillion original Bolivars

 

Chinguez dominguez, yep they have serious issues! That's a shame!

 

Yes they dropped zeroes in 2018 from their notes, and now these notes are
hyper-inflating. At this point the bolivar is beyond help.

 

Now if there's an affordable way to buy these, I'd like some. Ebay collectors are paying way too much for Soberanos.

 

Juan Pablo Pérez Alfonzo, one of the architects of OPEC and a proud Venezuelan predicted that oil wealth would kill the Venezuelan economy because eventually greed and corruption would take over and kill the goose that laid the golden egg.

"Ten years from now, twenty years from now, you will see, oil will bring us ruin... It is the devil's excrement."

He was fortunate to have died before seeing what happened to what was one of the wealthiest and most stable countries in Latin America.

 

Not looking forward to seeing ebay's price on the million bolivares. The 10k/20k/50k are just now dropping from the moon.

 

Most of the notes are also UNC which garners a collector value, can't I just find a stack of used Bolivares somewhere?

 

You can get the 24 note set for as little as 19.99 plus shipping.