Sunday, October 21, 2007
Too cool to spend?
I thought I'd take a break today from all the dry discussion about the value of Venezuela's currency and instead discuss the currency itself - you know, the actual paper stuff with numbers on it.
As most of you know Venezuela will soon be switching to a new currency called the Bolivar Fuerte (strong Bolivar) which will have more value than the current Bolivar. In effect they will be lopping off three zeros so that whereas 2,150 Bolivares equaled one dollar now 2.15 Bolivar Fuertes will equal a dollar.
Sounds good. It should keep the batteries on peoples calculators from wearing down so fast, if nothing else.
But one thing that does need to be noted is that this is some really, really nice looking money. Here are what the basic paper bills will look like:
That surely puts U.S. money to shame - doesn't it. I can't wait to stock up on some of this stuff. Question is, looking so good, will people really be willing to spend it?
One minor critique though, they really should have thought of a different name. After all, if a currency really is "strong" you probably don't need to make that word part of its name.
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As most of you know Venezuela will soon be switching to a new currency called the Bolivar Fuerte (strong Bolivar) which will have more value than the current Bolivar. In effect they will be lopping off three zeros so that whereas 2,150 Bolivares equaled one dollar now 2.15 Bolivar Fuertes will equal a dollar.
Sounds good. It should keep the batteries on peoples calculators from wearing down so fast, if nothing else.
But one thing that does need to be noted is that this is some really, really nice looking money. Here are what the basic paper bills will look like:
That surely puts U.S. money to shame - doesn't it. I can't wait to stock up on some of this stuff. Question is, looking so good, will people really be willing to spend it?
One minor critique though, they really should have thought of a different name. After all, if a currency really is "strong" you probably don't need to make that word part of its name.
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