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Venezuela: High-Value Inflationary Denominations Replace Previous Series of Banknotes

December 20, 2016 in Blogs, Currency, Education, History, Investing, News, Numismatica, Numismatics, Opinion, World Coins

By: Michael Alexander News.CoinUpdate.com (Coin Update News)

venezuela-2016-note-series-main

The Banco Central de Venezuela have begun to recall the current 2008 series of banknotes and replace them with six new, higher-value denominations in an effort to stabilize the economy and enable the public to conduct everyday purchases.

As inflation has essentially rendered worthless the denominations of the Fuerte (“strong”) Bolivar—originally introduced in 2008, also as a means of controlling Venezuela’s then-runaway inflation—the series, which featured vertical obverse designs and included denominations from 2 to 100 Fuerte Bolivares, was introduced at a ratio of 1,000 old Bolivares to one new Fuerte Bolivar. At the time of its introduction, the exchange rate… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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Zimbabwe $100,000,000,000,000 Bank Note

November 25, 2015 in Bank Notes, Education, History, Money, Numismatica, Numismatics, Paper Money

By: TJ Shea (http://www.pennypinchercoins.com)

Zimbabwe P#91 2008 $100 Trillion Bank Note

As we venture home or away for the beginning of the Holiday Season, let’s take a look at the Zimbabwe P# 91 2008 $100 Trillion bank note. Yup, a hundred trillion. $100,000,000,000,000. In the late 90’s and early 2000’s Zimbabwe went through a period of unprecedented inflation caused by high import trade imbalance, too much government spending, and low savings rate… sound familiar? Even the Brazilians were amazed.

The series officially, and incredibly, starts with a One Dollar note and begins the upward spiral with million, then billion, and eventually trillion dollar notes. The engraving design is pleasing, if overly consistent… Full article at the source>

Source: Coin Collecting Alltop.com

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Obama Election Win Means Big Inflation is Coming, Investor Refuge in Gold and Silver

November 10, 2012 in Gold, Precious Metals, Silver

Nov 09, 2012  By: Zeal_LLC (http://www.marketoracle.co.uk)

Well, Americans voted and the winner is inflation.  Half our voting populace inexplicably decided to award a second term to Obama.  Four more years of mind-boggling record deficits and record national debt growth!  Obama’s Administration spent roughly 50% more than the government took in, which can essentially only be financed in two ways.  Borrowing from foreigners and running the printing presses.

The latter of course is pure inflation.  And the Fed bent over backwards with its quantitative-easing campaigns to buy massive amounts of the Treasury debt Obama ran up on our children’s credit cards.  It created trillions of new fiat dollars out of thin air to purchase Treasuries to finance Obama’s trillion-dollar-plus annual deficits.  And with Obama sticking around, this dangerous trend is only going to accelerate.

The ironic thing is inflation wreaks the most damage on the people with the least.  Its corrosive effects on purchasing power are felt most at the margin, among the poor and minorities whose overwhelming support of Obama carried him to victory.  They apparently didn’t care about the crushing unemployment rates among blacks, Hispanics, and the young from Obama’s policies, but they will care about inflation.

Inflation is a simple supply-and-demand phenomenon, economics 101.  When the supply of money grows faster than the economy, the underlying pool of goods and services on which to spend it, it takes more money to buy anything.  Relatively more dollars are competing for relatively fewer things, bidding up their prices.  With more dollars in circulation, each one is worth less.  So prices inexorably start rising.

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