Nice! New Venezuela Notes. GEESH.

Discussion in 'General Precious Metals Discussion' started by barsenault, Dec 20, 2016.

  1. barsenault

    barsenault Well-Known Member

    Joined:
    May 26, 2013
    Messages:
    3,645
    Likes Received:
    291
    Trophy Points:
    83
    Location:
    United States
  2. Jislizard

    Jislizard Well-Known Member Silver Stacker

    Joined:
    Apr 7, 2011
    Messages:
    7,518
    Likes Received:
    639
    Trophy Points:
    113
    Location:
    Australia
    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.
     
  3. Skyrocket

    Skyrocket Well-Known Member Silver Stacker

    Joined:
    Jul 20, 2014
    Messages:
    5,739
    Likes Received:
    1,036
    Trophy Points:
    113
    Location:
    Melbourne
  4. Jislizard

    Jislizard Well-Known Member Silver Stacker

    Joined:
    Apr 7, 2011
    Messages:
    7,518
    Likes Received:
    639
    Trophy Points:
    113
    Location:
    Australia
    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$.
     
  5. Skyrocket

    Skyrocket Well-Known Member Silver Stacker

    Joined:
    Jul 20, 2014
    Messages:
    5,739
    Likes Received:
    1,036
    Trophy Points:
    113
    Location:
    Melbourne

    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!
     
  6. SpacePete

    SpacePete Well-Known Member Silver Stacker

    Joined:
    Mar 1, 2014
    Messages:
    12,433
    Likes Received:
    40
    Trophy Points:
    48
    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.
     
  7. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

    Joined:
    Jan 8, 2016
    Messages:
    4,171
    Likes Received:
    1,143
    Trophy Points:
    113
    Location:
    North Sydney
    But you have to remember this wasn't a dictatorship... people voted these clown in.
     
  8. barsenault

    barsenault Well-Known Member

    Joined:
    May 26, 2013
    Messages:
    3,645
    Likes Received:
    291
    Trophy Points:
    83
    Location:
    United States
    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!!
     
  9. dccpa

    dccpa Active Member

    Joined:
    Aug 29, 2010
    Messages:
    3,079
    Likes Received:
    8
    Trophy Points:
    38
    Location:
    USA
    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.
     
  10. mmissinglink

    mmissinglink Active Member

    Joined:
    Sep 30, 2012
    Messages:
    6,009
    Likes Received:
    10
    Trophy Points:
    38
    Location:
    Everywhere...simultaneously
    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?




    .
     
  11. Jislizard

    Jislizard Well-Known Member Silver Stacker

    Joined:
    Apr 7, 2011
    Messages:
    7,518
    Likes Received:
    639
    Trophy Points:
    113
    Location:
    Australia
    You can always hedge your bets by stacking US 90% silver coins.
     
  12. Jislizard

    Jislizard Well-Known Member Silver Stacker

    Joined:
    Apr 7, 2011
    Messages:
    7,518
    Likes Received:
    639
    Trophy Points:
    113
    Location:
    Australia
  13. JOHNLGALT

    JOHNLGALT Well-Known Member

    Joined:
    Apr 3, 2017
    Messages:
    2,327
    Likes Received:
    842
    Trophy Points:
    113
    Location:
    Country Victoria Australia
    If you are into confetti - I think I have the thingy for you
    1,000 PONZIES.JPG
     
  14. JOHNLGALT

    JOHNLGALT Well-Known Member

    Joined:
    Apr 3, 2017
    Messages:
    2,327
    Likes Received:
    842
    Trophy Points:
    113
    Location:
    Country Victoria Australia
    When prices go up - to compensate for that we have a few more ZERO's Lol.
    1,000,000,000 PONZIES.JPG

     

Share This Page