You can get the old set of notes very cheaply on eBay, I picked up a set. I will be getting a set of the new notes but I will leave it until next week so it only costs me half as much.
If they were smart and thoughtful for the good of their people they should be bringing in new coins with some silver content in them to make them always worth something.
They can't afford to pay for the paper in the banknotes, they owe money printers De La Rue $71 million https://www.bloomberg.com/news/arti...-strangest-shortage-yet-as-inflation-explodes They can't afford to buy silver for the coins and if they can mine it they need to be selling it for US$.
They're screwed then. The lesson learned is they should have been stacking a portion of their wealth in silver coins when they had the chance to before their money became worthless. Preservation of wealth. I didn't say gold because silver is gold to them!
I think the lessons learned should have been: (a) Non-market economies, where prices don't balance supply and demand, simply don't work and inevitably lead to disaster, and (b) Never NEVER allow politicians too much power.
Yeah, all I know is I'm holding little as possible of those pieces of paper with green ink on them (u.s. $). Enough just in case, but not a ton just in case. Just like the one article said, this young kid saved all his money in Venezuela, only to find out it was worthless. OUCH!! Currently the dollar seems to be as good as gold, even though it has no backing of anything, of any kind, other than being the world's reserve currency. I guess they treat that like gold? #crazytimes!!
Hi barsenault. I am doing just the opposite. I believe the USD broke out a month ago and started a new bull leg to at least 120. So I am accumulating USDs and shorting the Euro via EUO. For the next year, I think the USD is much better than gold. Thursday, I close on the sale of my last piece of real estate that isn't rental property. There are many roads to the same destination and we shall see who gets there first.
Someone once said that all fiat currencies eventually become a problem. But of the current pool of currencies, the US Dollar sure appears to be very strong and not showing signs of short to mid term devaluation. Since I don't trade currencies, I'm not looking for short term profits riding on the wave of the US dollar strength in comparison to other currencies. Consolidation in PM prices seems to be a good enough reason to still be in physical accumulation phase....the only difficult question is how long will PM prices be wallowing in the shallows? .