Venezuelan Hyperinflation: Worthless Currency and The Heroes of Venezuela
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- čas přidán 15. 09. 2018
- Sit down with a cup of tea as we examine the now defunct Venezuelan "Bolivar Fuertes" - The Strong Bolivar. Hyperinflation has gripped Venezuela and shows no signs of abating despite the measures taken by the government. Venezuela is just another example of fiat currency failure, and is a great demonstration as to why we should be stacking silver and gold to lock away our wealth now.
Great video! People against Silver Stacking look to Venezuela as an example of how silver is NOT being used as barter and how silver has NOT soared in value! Can you address the role of precious metal in that messed up country?? 👌🏼
Easy, the price of silver in Venezuela in 2015 was about 140-150 VEF. On 19th August, it was 3.7 million. In fact on 6th August it was 2.7 million VEF. Its not about direct barter, its about preservation of wealth. If you needed currency, having silver to hand was a very useful thing.
Of course people are directly bartering with silver and gold, I guarantee lots of people have used silver as bargaining chips. Why wouldn't you? Why bother with using the currency which was losing 50% of its value every month?
Yankee Stacking - silver and gold WILL be of use in Venezuela right now, but most bartering is food based. People swapping foods with each other. But those in the black market with the means to funnel silver, gold and whatever else up the chain will be accepting it. It as value. It can be exchanged for US dollars. But on a very basic level silver and gold are not being bartered.
I think people were using precious metals as a guarantee for loans to buy up property etc
I have quite a few older crisp uncirculated bank notes that have disappeared from circulation, going all the way back to pre-revolution Russia. They are wonderful snapshots of failed economies and works of art and are dirt cheap. You have reinspired me to collect more. Those Venezuelan notes are real beauties. Thanks for showing them.
Also back in 2006, I went to Venezuela and bought a bank box full of 15 rolls of new 1990 5 Bolivares coins, the cost, $5. Catalogue value US$450, actual value $0.
No worries dude a pleasure to show them off, so attractive and quite ironic that their artistic value is probably greater than their monetary value! As I say I bought these purely as collectros pieces as I think these will be very collectable at some point.
Thats a nice bet on those coins! Worth selling while the topic is hot?
Any banknotes less than 10000 Bolivar soberano are worthless now, only collector value?
We just ordered a whole bunch of Venezuela paper money because it is cheaper than using toilet paper
Not too absorbent I expect!
Great video and looking forward to the next one. Thanks
Yo Cecil Thank so much glad you enjoyed!
Good Notes~~~
Very informative. Thanks again.
🗽🇺🇸
Glad you enjoyed thanks for watching!
Really enjoy your video man, also beautiful note you have there.
Thanks so much!
I'm not usually a fan of banknotes, but these are really nice. Might get me some!
I wouldnt buy notes normally myself, but these have a story behind them because of the situation in Venezuela right now. Hopefully these will become collectors pieces, especially the 100k note! Cheers for stopping by!
@@StackerNoobUK They won't be collectors pieces, they are going to be recirculated once MaBurro works it out With Biden, so that gas will stop skyrocketing in USA
@@StackerNoobUK I can get you a brick if u like
I really love this video ! But where do u buy them ? Like the ones u have in this video ?
Thanks! I bought these from a seller on ebay who only deals in notes and coins. Has something like 300k feedback and has been on ebay for like 10 years. I dont remember the name of the seller though!
Goto Colombia
Just orderd mine on ebay. Hopefully the quality and condition is as good as your notes. I must be mad paying for something that is basically worthless.. 😜..
So mad small value here in philipines😅
Where can I buy these?
Cucuta Colombia, though very hard to find now. Otherwise ebay. What country are you in?
where do you buy these?
Ebay dude! Theres coin and note shops (+100000 rep) that sell them. Im sure fakes are out there but Im satified these are the real deal. I had to buy the 100k note seperately to get the best price. I paid £18 in total (delivered) for all of these.
could you message me on the forums the name of the seller that sells legit ones? I looked all over e-bay and I can't tell real from scams
Mark10110 Silver no worries man I’ll tell you a good seller here. Look for yuri111. Currently 93k score and well over 100000 sales completed. 99.9% positive. Happy shopping man!
as of 2/1/2021 the new Venezuelan Sovereign Bolivar is worth 1,830,127VES per $1
As of May 1 2021, the Bolivar has had a MACD signal and started its decent from almost 3,000,000 to the dollar, it was a record and now we are goin in the different direction now the UNWFP is there and Maduro is releasing US prisoners called the CITGO 6 - All who is left os Luke Deham and his pal and MaBurro is going to look like a hero in the US and have sanctions released. I imagine Iran is going to have the same, Otherwise you will be paying 10 or 20 dollars a gallon for gas at the pumps
All Venezuela banknotes issue before May 2019 are worthless now except may be as collectors items
Incorrect.. They have vanished, and found their way back to the vaults of the BCV
no you are right all notes less than 10000 bolivar solberano are worthless and have been withdrawn
Transition guv.... These bills r gunna be epic
EPIIIIIIIC
4:50
Who the fuck would counterfeit Venezuelan currency?
It’s a fair point!
well when they were worth something they would be a threat to countifiters@@StackerNoobUK
We should do a go fund me and send me to Venezuela and get a bunch of them for everyone.
Can you send me some Venezuela notes i will send my adress