[Tilted Irish Kilt]

The 100 bolivar note, the highest denomination of Venezuelan currency, is currently worth about 3 cents on the U.S. dollar.
But Venezuela’s government announced on Sunday that it is removing the bills from circulating because they’re being purchased in bulk
by “international mafia groups” that are allegedly trying to “overthrow” the struggling socialist government by hoarding money abroad and starving Venezuela of cash.

[Brilliant]

Why don’t they overthrow the government?

[SkyDancer]

Someone with a thousand USD could buy Venezuela.

[Extremely Extreme Extremist]

See, see those greedy capitalist pigs again! Socialism would work if it weren’t for those rich bastards!

[WayneS]

Hooray for socialism! Hooray...

...

...

...idiots...

[Mr. Douglas]

The 100 bolivar note, the highest denomination of Venezuelan currency, is currently worth about 3 cents on the U.S. dollar.

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I MIGHT give them a penny for one, just as a souvenir.

[I want the USA back]

Obviously this doesn’t apply to the ruling elite, which has all it wants.
The inevitable result of communism.

[ArcadeQuarters]

Hmmm. Worthless currency, lack of toilet paper... I have an idea.

[Boogieman]

First the people had to spend hours lining up at multiple banks because there was a withdrawal limit, so you couldn’t even withdraw enough money to buy a loaf of bread at a single bank/ATM.

Now they are going to have line up again to put that money back in the banks!

[TADSLOS]

Fnancial collapse and WROL. The end state of socialism every time it’s tried, and yet the powers that be still manage to always have a boogieman to blame their failures on.

[I want the USA back]

Communism is a disaster.

This hyperinflation is not bothering the ruling elite at all. They are protected from it. In other words, they don’t care that the ordinary person has lost all his life savings and is now pisspoor.

[Oatka]

I wonder about those with dollar-denominated savings accounts (do they even exist?).

I ask this because some years ago Mexico was getting ready to devalue the peso, but kept it quiet (except to the elites).

So . . . in 1994 they first seized all their nationals' dollar accounts in the banks and converted them to pesos - then devalued the peso and told the owners they could convert them back to dollars at something like a 2-1 ratio ("Have we got a deal for you!").

No wonder Mexicans, and other Latins, don't trust banks.

BTW, I looked up the decline of the Bolivar (VEF), at Wiki - I was down there in the '80s when the Bolivar was 4.1 to the USD and that was after they just did a 10-1 devaluation: