BECAUSE THOSE ARE DEFINITELY THE CAUSE
Venezuela hopes to tackle the world’s worst inflation by deleting zeros from its currency
(Thanks to Steve Pudlo)
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March 25, 2018
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Venezuela has been taking advice from divorce attorneys. They are experts at deleting zeros from a bank account.
Posted by: Le Petomane | March 25, 2018 at 05:43 PM
Unfortunately, those zeroes are already in Washington.
Posted by: Frank Davuco | March 25, 2018 at 06:18 PM
Last time I asked the boss for a raise, he suggested I pretend adding a few zeroes.
Posted by: wanderer2575 | March 25, 2018 at 07:44 PM
Brilliant!
Now there's room for more zeros on their bank notes...
Posted by: Another Ralph | March 25, 2018 at 08:31 PM
France did this in the late 40's. New Francs were instantly worth 10 old francs, which had eroded in value due to inflation.
Posted by: Rintinglen | March 26, 2018 at 02:38 AM
I’m with Rintinglen on this one. And with economists who have studied hyperinflation
Has anyone suggested generic Ritalin to treat hyperinflation?
Posted by: Not My Usual Alias | March 26, 2018 at 06:45 AM
Zimbabwe tried that and then their currency collapsed, as in that country doesn't have a national currency anymore. They use the South Africa Rand, Euros, and US dollars.
Posted by: Tex | March 26, 2018 at 08:28 AM
It might work if they improve their economy.
In Poland because of inflation after the communism fell the inflation was a serious problem. In 1995 they decided to exchange the old Zloty to a new currency in 10,000 to 1 ratio.
Ever since the currency became stable and keeps its value at about 3.50 Zloty for 1 USD. But they also had privatization program, no more state own enterprises, full capitalism.
Venezuela wants to be socialist, and the results are obvious.
Posted by: Loco | March 26, 2018 at 09:27 AM
When I went to Argentina in 1969 the exchange rate was 300 pesos to a dollar. When I left in 1976 it was 26,000,000 to a dollar. The company I worked for had to pay part of my salary in local currency. By law, my severance was paid in cash. It was a stack of money about 24 inches to the side. Came to about $175 I think.
As soon as anyone got paid they immediately spent it. In 1983 they moved the zero over 4 places. That didn't quite get it done so in in 1989 they moved it another 3 places. And you thought the 70s were crazy in the US. The good news is that I mostly missed the disco era.
Posted by: WVPlantman | March 27, 2018 at 09:37 AM