The Bolivar, The most devalued currency today
Then the Venezuelan government before the crisis (I really do not know who advises them so badly) has decided to remove 5 more zeros from the currency going from Bolivar Fuerte (Bsf) to Bolivar Soverano (BsS), let me laugh so as not to cry, besides this wants to anchor its value in a #crypto currency known as #petro and I do not really explain how the currency will remain, because the maximum value bill for now is 100,000 bsf or it would be something like 100.000bsf is 1 BsS and so on, All this has overwhelmed the Venezuelans, another concern. The truth I think the solution for the moment would be the free circulation of currencies with more weight as the dollar along with the local currency, in Venezuela this is not true, as it circulates only "bolivares" for me this is a clumsy decision, and that it will not last anything since it does not point to the main solution, it's like covering the sun with a finger like that.
I am very sad that I do not see an exit to this crisis, every day Venezuela is poorer, and more alone; thousands of Venezuelans have left or are in the process of leaving; It is so complicated and overwhelming not to be able to do anything about it, the government of this country has shown that it does not care about Venezuela, that it clings to power as it is, a devaluation more means nothing to them, while they are rich and they distribute crumbs to town.
Without being an economist, I understand what this means, I understand that it does not cover 0.5% of the problem that we really want to address, only mockery for the Venezuelan, it is expected that by August 20 this circulation of new tickets will start, but I am sure that this will not happen, because in Venezuela there is a massive cash crisis (as you read, there is no cash) and I see all this complicated, I will be commenting on what happened so far I will only say that these superficial decisions and fools do not give solution to the crisis that is happening #Venezuela.
a broken economy without a doubt
soo sadly but is true :(