Fuente
In a previous post I wrote about the "electronic Bolivar" due to the fact that there is no longer enough money circulating in the street and almost all transactions are made through electronic means, while a small part is made in dollars and what is available in bolivars in cash..
On Wednesday, February 24, the President of the Bolivarian Republic of Venezuela, Nicolás Maduro, instead of betting on a traditional formula such as putting more money into circulation, creating bills with higher denominations, informs that the government is working on the creation of a digital bolivar..
He bases his assertion on the fact that, according to government statistics, more than 70% of transactions are being made in digital format and that by 2021 they aspire to reach 100%..
However, there are no explanations anywhere, beyond the President's words, about the strategies to carry out this project, which creates more uncertainty among the population and gives fuel to speculation and even to the non-acceptance of the few bills of the new monetary cone; in fact, the 10,000 bill is already not accepted in the State of Zulia.
In a country where communications are very poor, where there is a group of businessmen and traders who monopolize, together with the government, all services, including food distribution, eliminating cash but opening the door to dollar accounts and accepting dollar currency is an outlandish or illogical decision.
A digital currency could coexist with a physical currency without problems, but eliminating the latter is something I have no idea if there is any similar case in history..
Venezuela will get out of the crisis, according to the group of economic gurus surrounding the government, as wise as King Solomon, with a digital currency and a crypto (The Petro), which has not had any positive impact on the people who among millions of questions have a very simple one: How will they pay for public transportation?
Where will the dollars come from to flood the streets and serve as an exchange currency in the markets if more than 80% of the population has a salary of less than one dollar?
Regarding the last written statement, the government has authorized banks to allow individuals, that 10 or 20% privileged group, to open accounts in dollars, but when it is time to receive the money back, it will do so electronically in bolivars.
Undoubtedly a whole set of ingredients typical of a popular humorous program of the country called "What a madness".
Versión en Español
Fuente
En un post escribí acerca del “Bolivar electrónico” producto del hecho que ya no existe suficiente circulante de dinero en la calle y casi todas las operaciones se hacen a través de los medios electrónicos, mientras una pequeña parte en dólares y lo que alcana en bolívares en efectivo.
El miércoles 24 de febrero el presidente de la República Bolivariana de Venezuela, Nicolás Maduro, en lugar de apostar por una fórmula tradicional como la de poner a circular más dinero, creando billetes con denominaciones más altas, informa que el gobierno está trabajando en la creación de un bolívar digital.
Basa su aseveración en el hecho que según las estadísticas que maneja el gobierno más del 70% de las transacciones se están haciendo en formato digital y que en el 2021 aspiran que llegue al 100%.
Ahora bien, en ningún lado existen explicaciones, más allá de la palabra del mandatario, acerca de las estrategias para llevar a cabo este proyecto, lo que crea más incertidumbre a la población y le da combustible a la especulación e incluso a la no aceptación de los pocos billetes del nuevo cono monetario, de hecho ya en el Estado Zulia no aceptan el billete de 10 mil.
En un país donde las comunicaciones son paupérrimas, donde existe un grupo de empresarios y comerciantes que monopolizan, junto al gobierno, todos los servicios, incluso la distribución de alimentos, eliminar el dinero en efectivo pero abrirle la puerta a cuentas en dólares y aceptar el circulante en dólares es una decisión estrambótica o fuera de lógica.
Podría convivir una moneda digital con otra física sin problemas, pero eliminar la segunda es algo que no tengo noción si existe algún caso similar en la historia.
Venezuela saldrá de la crisis, según el grupo de gurúes económicos que rodean al gobierno, tan sabios como el rey Salomón, con una moneda digital y una cryto (El Petro), que no ha tenido ningún impacto positivo en el pueblo que entre millones de preguntas tiene una muy sencilla. ¿Cómo harán para pagar el transporte público?
¿De dónde saldrán los dólares para inundar las calles y servir de moneda de canje en los mercados si más del 80% de la población tiene un salario de menos de 1 dólar?
Tomando en cuenta en cuanto a lo último escrito que el gobierno ha autorizado a los bancos para que las personas, ese 10 o 20% privilegiado, puedan abrir cuentas en dólares, pero a la hora de recibir el dinero de vuelta lo hará electrónicamente en bolívares.
Sin dudas todo un conjunto de ingredientes propios de un popular programa humorístico del país llamado “Que locura:
Hi @joseph1956. Sometimes it never ceases to amaze the things that the Venezuelan president mentions in national chain. The we did not see a marked influence of the petro in the economy of the nation, and now pretending another digital currency is illogical based on the precarious connectivity of the country, as you could pay for items in a small market where sometimes not even the debit card can pass.
I do not know of any case in which there is no physical currency.
Una completa locura.
La especulación llegará a niveles estratosféricos, el dólar subirá de precio y como siempre la peor parte nos la llevaremos los ciudadanos de a pie, sin efectivo para el transporte público y con el poco dinero que ingresa convirtiendose en sal y agua.
La mejor pregunta: ¿Donde está la tecnología para realizar eso? Porque carecemos de servicios básicos, entre ellos la electricidad. ¿Será por telepatía? Gracias por leerme
Electricidad, un buen internet, poca o nula infraestructura en el area tecnológica... En fin, solo ellos se lo creen.
Greetings @joseph1956, excellent analysis on the possible disappearance of the national currency in physical circulation as is the Bolivar, from my humble opinion I think a more in-depth study should be made because as in other countries the two currencies can coexist and could even become a solution in the medium term as far as circulation and payment is concerned.
So far there is nothing to explain how, but cash cannot disappear.
Hello @joseph1956.
Actually an excellent analysis that you share with us in this opportunity, there are many decisions that surprise us of the Venezuelan president as the one you mention in this opportunity, and this is because there are many deficiencies as the one you mention very well in your article.
Thank you for sharing such an interesting article with all of us. Best regards.
from my point of view what the state wants is to continue to maintain the privilege of a few regardless of the majority of citizens, this is what they will do step one create a digital currency that they can devalue over and over again like the chinese do with their currency, step two allow the population to leverage the retail with the dollars in circulation and step three put the basic services in dollars so the citizen to survive will need to earn dollars (remittances, jobs on the web and many more) the state will collect those dollars with the services and worldwide will continue its publicity saying that its currency is the bolivar
@tipu curate 4