This Is What Venezuela’s New, Vertical, Banknotes, Now With Added Zeros Look Like

Jon Alternative Media, Blogosphere, Economy, Government

We’ve all been eagerly waiting to see them: Venezuela’s crisp, brand new yet soon to be hyperinflated with many more zeros banknotes, and finally, after various failed attempts to deliver the new bills to Caracas (which according to Maduro were at least partially aborted due to pesky CIA meddling) they have arrived. And they are vertical.
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Eager to get their hands on the new currency, AP writes that Venezuelans stood in long ATM lines Monday to take out new, larger-denominated bills “that President Nicolas Maduro hopes will help stabilize the crisis-wracked economy.” Of course, they will do no such thing as the pieces of paper in circulation have absolutely no bearing on the underlying economy, or its hyperinflation, but it will take at least several more shipments of new banknotes before the Maduro figures this out.

This post was published at Zero Hedge on Jan 16, 2017.