Rest in peace 50 thousand bs banknote in Zulia State of Venezuela

As predicted when the monetary cone was expanded in Venezuela, with the circulation of the 200,500,000 and 1 million bolivar bills, which do not come close to inflation and are of little use to pay for any item, instead of solving one problem they created another, since merchants adjusted prices accordingly.

Since there are no 100 thousand bs bills and the circulating currency was based on 50 thousand bs bills, the Banco Central de las Pulgas, a ghost entity that controls the economy of the state of Zulia, ordered merchants and transporters not to accept these bills, so that the minimum price or the minimum purchase of a client had to reach 200 thousand bs.

The price to be paid by the urban transportation passenger will always be multiples of these bills of the new cone so the minimum is 200 thousand and the others will combine the other bills. A strategy that drives hyperinflation like the rockets that carry satellites to the solar system.

Complaints have not been long in coming and the regional government has issued a communiqué in which it threatens to imprison those who do not accept the 50,000 bs bill and to close their businesses, but so far there has been no first legal action and in the state and municipal markets themselves, nobody accepts it.

Persons who, for commercial or other reasons, are in possession of these, must go to the bank to deposit them or exchange them for the new cone.

But behind all this a new business has been born, the one that accepts them but charges commissions that go according to the percentage that this one wants, for example where they sell the bottles of water to 200 thousand bs, you must cancel 300 thousand if it is with bills of 50 thousand and thus with other items, but this is not general, they are determined who do it, these simply negotiate them with some mafioso connected to some bank or to some powerful one that takes them to the rest of the country.

Thus, the State of Zulia currently has the highest inflation in the country, since it is in the hands of a cartel that destroys the pockets of the workers and at the same time it is the region where there is the highest number of illegalities that are not attacked by the entities that should safeguard the inhabitants of the region.

The 50 thousand bs bill is another victim of the shady handling of the economy in the state, once the richest in the country and now the poorest, and where lawlessness is rampant and paradoxically not even the law respects the law. Any resemblance to the old American West could be pure coincidence.

Rest in peace, the 50 thousand bs bills will soon be gradually disappearing from the new cone.