Venezuela's currency: Worth more as craft paper than as money

[Bacchus4.0]

https://www.aljazeera.com/ajimpact/venezuela-currency-worth-craft-paper-money-191224144545023.html
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Instead of using his homeland's money to pay for daily essentials in his native country, Venezuelan immigrant Hector Cordero weaves the currency into wallets and purses, which he sells to tourists in Colombia. His artful crafts underscore the creative methods that Venezuelans are using to extract value from a currency that - amid skyrocketing inflation - many consider worthless.

"These bolivares soberanos notes are worth nothing," Cordero, who is from Caracas, told Al Jazeera. "The notes I use are not circulating any more since last year."
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The Venezuelan government does not publish data related to inflation, but the Finance Commission of the opposition-controlled National Assembly calculated that inflation for October 2019 was 20.7 percent and that cumulative inflation for 2019 was 4,035 percent. Even so, those numbers may be very conservative. The International Monetary Fund estimates that inflation in Venezuela this year will reach 200,000 percent - and that the economy will contract by 35 percent.

"Venezuelans first suffered the expropriation wave and now the hyperinflation hurricane, which has devastated private enterprise," Congressman Angel Alvarado said on November 14.

[keithbvadu2]

1. 100 trillion dollars - worth more as a collectible than spending money.

100 trillion dollars - worth more as a collectible than spending money.