RE: Dollar

You are viewing a single comment's thread:

The paper of this bank note worths more than its nominal value. BTW this paper is of very good quality.

This note was issued in 2001, which is of the old "bolivares", this means it corresponds to 0.000000002 (2x10^{-9}) new "bolivares". Currently 1USD= 36 bolivares.
In other words, its nominal value is worthless.



0
0
0.000
1 comments
avatar

The object lesson is we'd rather have 10,000 Silver 2 Bolivares coins that would yield 103 oz of fine silver that would now worth $3,618 USD today. Clearly demonstrates the Inflationary effect of recklessly printing fiat currency.

0
0
0.000