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1 Million Bolivares...

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Revenant

Entry posted by Revenant ·

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My first love of hyperinflation is a bit quiet and dull lately but Venezuela is not disappointing. They've announced new 200,000, 500,000, and 1 Million Bolivar notes to be released soon.

https://www.msn.com/en-us/money/markets/hyperinflation-pushes-venezuela-to-print-1000000-bolivar-bills/ar-BB1ei8Dj

The 1 Million Bolivar note will be the highest denomination Venezuela has ever issued - they always re-denominated the currency before they got to that number before - but it's only going to be worth about US$0.53.

Like in Zimbabwe, the economy is becoming increasingly dollarized - I bet the anti-Washington government in Venezuela LOVES that - and the economy has shrunk in inflation adjusted terms for 7 straight years.

At some point I suppose I need to get more serious about building a Soberano set, before it gets too far away from me. lol 

This note suggests that Venezuela is not going to try to de-throne the Zimbabwean 100 Trillion note for the "most printed zeros" title, because they're just going with "1 Million."

OIP.jpg

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Fenntucky Mike

Fenntucky Mike

Posted

Soon as I saw they were printing a 1,000,000 bill I thought about your set. Did you think or were you anticipating that higher denominations would be released when you started the Soberano set?

From what I've read the bills are printed but will they be released into general circulation or even be available now that Maduro is trying to go cashless. I haven't seen any available yet and I think Zimbabwe's crown as the inflation king is safe. For the moment.:devil:

Revenant

Revenant

Posted

6 minutes ago, Fenntucky Mike said:

Soon as I saw they were printing a 1,000,000 bill I thought about your set. Did you think or were you anticipating that higher denominations would be released when you started the Soberano set?

From what I've read the bills are printed but will they be released into general circulation or even be available now that Maduro is trying to go cashless. I haven't seen any available yet and I think Zimbabwe's crown as the inflation king is safe. For the moment.:devil:

Funny that you mention that because you see the stuff about them buying paper for a 100,000 bolivar note and then they didn't even print it / saved the paper because it wasn't worth it! lol 

I never know what to expect and I don't put a lot of expectations on these things because you never know what these crazy governments will do. I was shocked there were no new notes in 2020 really. I was expecting more sooner and here we are.

When the new Zimbabwe series started I was both excited and filled with dread at the possibility of another 27-32 note set. lol 

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