Venezuela crisis: Former UN rapporteur says US sanctions are killing citizens

[MRubio]

7. This is interesting....

"Bolívar fuerte, (Spanish: ‘‘strong’’ bolívar) formerly bolívar and bolivar, monetary unit of Venezuela. Each bolívar fuerte is divided into 100 céntimos (cents). The bolívar fuerte (the equivalent of 1,000 bolivares) was introduced in 2008 in an attempt to curb high inflation and simplify financial transactions. It replaced the bolívar, which had been adopted as Venezuela’s monetary unit in 1879. Prior to 1879, independent Venezuela used three separate currencies: the escudo, the peso, and the venezolano."

https://www.britannica.com/topic/bolivar-fuerte

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So, in a nutshell, chavismo took over a currency that had been in effect for over 100 years. After destroying that one, they issued another, destroyed it, and are now working on their third issue, the bolivar soberano.

Last August 20, bills in the amounts of 2, 5, 10, 20, 50, 100, 200, and 500 were issued. Today, slightly more than 6 months later, the only merchants who accept the 2, 5, and 10 bs Soberano notes are those who sell gasoline at PDVSA stations, and that's because they're forced to accept them because gasoline is virtually free.

I should also mention that in Tachira and much of the western part of the country, the bolivar soberano hardly circulates. Instead, business is done in dollars and Colombian pesos.......much like pre-1879 days.

Chavismo, making Venezuela primative again.