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Venezuela Pulls Highest-Value Banknote 'to Strike Against Mafia'

posted by janrinok on Wednesday December 14 2016, @12:49AM   Printer-friendly
from the toilet-paper-is-worth-more dept.

Snow writes:

The BBC Reports:

In a surprise announcement, [President Nicolas] Maduro said on Sunday that the 100-bolivar note, worth about 2 US cents (£0.015) on the black market, would be taken out of circulation on Wednesday.

The president said the aim was to tackle transnational gangs which hoard the Venezuelan notes abroad, a move he has in the past described as part of the "economic war" being waged against his government. [...] He said part of the plan was to block any of the 100-bolivar notes from being taken back into the country so the gangs would be unable to exchange their hoarded bills, making them worthless.

"I have given the orders to close all land, maritime and air possibilities so those bills taken out can't be returned and they're stuck with their fraud abroad," he said speaking on television.

Venezuela's currency has fallen dramatically amid skyrocketing inflation.

[...] Analysts say the move is likely to worsen the cash crunch in Venezuela, where people have already been limited in the amount of cash they can take out at automated teller machines. Venezuelans have only been given 10 days to exchange their 100-bolivar notes for new coins and bills ranging from 500 to 20,000 bolivars due to be introduced from 15 December.

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  • (Score: 0) by Anonymous Coward on Wednesday December 14 2016, @08:04PM

    by Anonymous Coward on Wednesday December 14 2016, @08:04PM (#441401)

    I think spouting extreme ideological beliefs coupled with disturbing language that promotes the murder and death of others deserves to be modded troll.

    well he shows his ideological brainwashing, lack of mental adaptability, and a detached viciousness that would be quickly put down if he were an animal.

    And yet you do the same, and are modded insightful.

    Don't you guys ever get embarrassed that you fail to offer cogent counter-arguments, and instead have to rely on soft censorship to promote your views?

    I would.

    I guess this is what happens when the Facebook generation attempts political debate, god help us all.

  • (Score: 0) by Anonymous Coward on Thursday December 15 2016, @07:11PM

    by Anonymous Coward on Thursday December 15 2016, @07:11PM (#441725)

    ...modded insightful.

    By one user, maybe the poster.

    Don't you guys...