Do you want to feel like Sean Cole and see you surrounded by mountains of bills? So their place is the economic paradise of the Good Finance, a place where tickets are no longer counted but are weighed.
Spend two years without publishing any inflation data
This is what happens when a country goes into hyperinflation and its government tries by all means to hide it and not recognize the disaster. The first step is to spend two years without publishing any inflation data on a regular basis. The second step is to keep the bills with the same denomination no matter how much value they have lost even if you create a logistical problem for your citizens.
In Venezuela, the highest denomination ticket is that of 100 dollars . The problem is that today the value of the 100 dollars bill is equivalent to the change in the black market at 0.8 cents . If you make a purchase worth $ 100 in cash you will have to carry 125 bills of 100 dollars .
ATMs run out of tickets
That your ticket of greater denomination is worthless also has other negative effects such as that ATMs run out of tickets just 3 hours after being filled by the bank. Or also that printing the bills by the Honest Bank of your country costs more money than the tickets are worth and you start running out of money to be able to print more money.
It seems that finally for December the Venezuelan government will give its arm to twist and will start printing bills with higher denominations that can reach up to 20,000 dollars for the highest denomination bill . The 100 bolívares bill will disappear and the smallest denomination will be 500 bolívares.
New rise in the minimum wage
Meanwhile Good Finance continues to persevere with his ostrich economic policy as if the hyperinflation problem could be solved by raising wages. A few days ago the government announced a new rise in the minimum wage, the fourth year this year. In total, the minimum wage plus the food bonus has increased 162% so far this year, the problem is that the basic food basket has increased 182% until September just before the third minimum wage increase.
I imagine that some year of these the leaders of the Good Finance will realize that wildly raising the minimum wage the only thing that causes, in the state that is its economy is to accelerate hyperinflation.
Finally we leave a graphic to remind you. A sample of the logistics capacity of the Good Lender. The evolution of banknotes and coins in circulation in Venezuela in the last 8 years or how to wallpaper a country with small papers. Simply spectacular. And wait for December when they put in the system the new bills of 20 thousand dollars.