In Venezuela, Everyone’s a Billionaire!
Автор: Money Mu$eum
Загружено: 2025-11-24
Просмотров: 414
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In this video, we explore the economic and historical journey of Venezuela’s currency — a story marked by dramatic devaluations, hyperinflation, and repeated monetary reforms.
We begin with the Bolívar Fuerte (VEF), introduced in 2008 as part of a major currency overhaul intended to stabilize an economy already under pressure. The Bolívar Fuerte removed three zeros from the old bolívar in an effort to simplify transactions and restore confidence.
However, as inflation accelerated, even large denominations became almost worthless within a few years.
By 2018, the situation demanded another reform. The Bolívar Soberano (VES) replaced the Bolívar Fuerte, this time cutting five additional zeros. This currency change aimed to address one of the worst hyperinflation crises in modern history. Despite the reform, Venezuela continued to introduce larger and larger banknotes, symbolizing the rapid decline of purchasing power.
Through this historical lens, we trace how Venezuela went from a strong and respected currency to a monetary system where bills in the millions and billions became part of everyday life.
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