Author Topic: General Chatter  (Read 90662 times)

Bondo

  • Objectively Awesome
  • *****
  • Posts: 20556
Re: General Chatter
« Reply #2580 on: December 30, 2018, 05:16:02 AM »
I imagine at this point it is worth more as scrap metal than as money.

Dave the Necrobumper

  • Objectively Awesome
  • *****
  • Posts: 10925
  • My tinypic changed so no avatar for a little while
Re: General Chatter
« Reply #2581 on: December 30, 2018, 03:10:37 PM »
Most likely.

jdc

  • Godfather
  • ******
  • Posts: 6343
  • Accept the mystery
Re: General Chatter
« Reply #2582 on: December 30, 2018, 05:33:25 PM »
So my daughter found a 50céntimos coin I brought back from Venezuela in 1994 and asked about it and how much it was worth. Well 50c is half a Bolivar, which when I first arrived in Venezuela was about half 1 US cent (the 50céntimos that is). I knew that Venezuela has had a problem with inflation recently so I checked what it is worth now. $AUD1 gets about 398 Bolivar, so it is now worth about 1/8c Australian. Not that bad, way better than I expected. What does it buy, ah it appears with a little digging I have found a problem with my valuation. Due to inflation in 2007 the Bolivar from my time there was replace at a rate of 1000 to 1 with the new Bolivar, so the coin was worth 1/2000c Australia, nope, hyper inflation meant that in August of this year (2018) that new Bolivar was replaced with the new new Bolivar at a rate of 100,000 to 1. So the coin is worth 1/200,000,000c Australian (or 0.000000005c).

It's tragic what the leadership has gone in Venezuela. I have exchanges with somebody that lives there in a different forum from time to time, he does most of his transactions in USD which has held steady or sometimes deflates so that he gets more to a dollar.
"Beer. Now there's a temporary solution."  Homer S.
“The direct use of physical force is so poor a solution to the problem of limited resources that it is commonly employed only by small children and great nations” - David Friedman

Dave the Necrobumper

  • Objectively Awesome
  • *****
  • Posts: 10925
  • My tinypic changed so no avatar for a little while
Re: General Chatter
« Reply #2583 on: December 31, 2018, 05:06:42 AM »
It has been occurring for a long time. When I arrived in Venezuela it was about 105B to the USD and there was no black market for the currency. I left 1 month later and the exchange rate was just about 140B to the USD and a black market in currency had started up. So while the Chavez government has caused lots of problems it was only building on ones already present in the country.

Dave the Necrobumper

  • Objectively Awesome
  • *****
  • Posts: 10925
  • My tinypic changed so no avatar for a little while
Re: General Chatter
« Reply #2584 on: December 31, 2018, 05:35:25 AM »
I am 1.5 hours early, but happy New Year one and all. Have a wonderful time in 2019.

Teproc

  • Elite Member
  • *****
  • Posts: 2790
Re: General Chatter
« Reply #2585 on: December 31, 2018, 06:25:11 AM »
I imagine at this point it is worth more as scrap metal than as money.

IIRC this is even true of the 1 and 2 cent Euro coins. Metal is worth more than people think.
Legend: All-Time Favorite | Great  |  Very Good  |  Good  |  Poor  |  Bad

Letterbox'd

Knocked Out Loaded

  • Elite Member
  • *****
  • Posts: 1457
  • I might remember it all differently tomorrow.
Re: General Chatter
« Reply #2586 on: December 31, 2018, 09:03:34 AM »
A swansong for the year that is about to end.

Happy New Year everyone! Strike another match, go start anew.
Extraordinary (81-100˚) | Very good (61-80˚) | Good (41-60˚) | Fair (21-40˚) | Poor (0-20˚)

Sandy

  • Objectively Awesome
  • *****
  • Posts: 11155
    • Sandy's Cinematic Musings
Re: General Chatter
« Reply #2587 on: January 01, 2019, 12:40:55 AM »
A swansong for the year that is about to end.

Happy New Year everyone! Strike another match, go start anew.

Very fitting song.

Wishing Everyone a Happy New Year too!  :)
"I'm a new day rising."

Sandy

  • Objectively Awesome
  • *****
  • Posts: 11155
    • Sandy's Cinematic Musings
Re: General Chatter
« Reply #2588 on: February 14, 2019, 11:48:15 PM »
"I'm a new day rising."

smirnoff

  • Objectively Awesome
  • *****
  • Posts: 24834
    • smirnoff's Top 100
Re: General Chatter
« Reply #2589 on: February 15, 2019, 12:18:30 AM »
Thanks, you to :)