But the new bills were nowhere to be found in the capital, where consumers’ fears that prices will continue to spiral upward proved to be right.
“The most important and fundamental reason is that the payment systems are already collapsed because the number of digits make the payment systems and doing the math practically unmanageable,” said Jose Guerra, an economics professor at the Central University of Venezuela. “These debit card payment processing systems or an accounting system for companies... are not intended for hyperinflation, but for a normal economy.
When Venezuela’s Central Bank announced the currency change last month, officials said payment systems will be modernized to expand digital use of the bolivar. This is the third time Venezuela’s socialist leaders have lopped zeros off the currency. The bolivar lost three zeros in 2008 under the late President Hugo Chávez, while his successor, current President Nicolás Maduro, eliminated five zeros in 2018.
Money!......the better it looks, the less it's worth!
Crytocurrencies are used more commonly over there than you might image due to the failure of their economy.
This my friends is exactly where the Democratic party is driving our dollar. It will be worthless before we know it.
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