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October with Fewer Zeros.

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Written by   68
2 months ago

We start the month subtracting. Although we have been subtracting zeros from my country's currency for years. Yesterday when I published the article of the day I briefly discussed what would start to happen as of October 1st with our local currency, the bolivar. I am not an expert in economics, nor in political science, nor do I pretend to be, people who follow my posts know that my area of expertise is psychology, but I would like to try today, in a simple way, what is happening with our local currency and with our economy. Remember that I am not an expert in the matter but I do have my personal criteria, because I live it, because I am Venezuelan.

For those who do not know Venezuela, I will tell you that it has great natural beauties, it is a beautiful country, I love my country. I present it to you, those of you who live in the other part of the world: Venezuela is located on the northern coast of South America. Caracas is our capital. We have a population of almost 30 million people. We are kind people, cheerful, always giving a hand to our brother in need, at least the majority of Venezuelans are in solidarity with our fellow man. We used to have a thriving and prosperous Venezuela. But it is a bygone time. Now Venezuela is different.  

The readers who always read my posts know that I am an optimistic person, always transmitting positive messages, to live the present in peace and harmony. Happiness is subjective. It's up to me to be happy or bitter, that's why I always choose to be happy regardless of my environment. But I cannot deny my environment. Because my environment is a reality. Whether it is good or bad, it is the one that is lived. For that reason, I do not deny what is happening in my beautiful Venezuela.

To give you some examples of the serious deterioration we suffer at the infrastructure level, I can tell you that all public services have collapsed. For a long time there have been thousands of blackouts due to lack of electricity. Last year we spent a week in complete darkness. Without going too far, yesterday we had several blackouts in just one day. Here it is already normal to be without energy, without water, without gas. The cause, neglect and total abandonment in the maintenance of the electrical infrastructure by the national government, who is the governmental entity in charge.  

Another example is the case of public health care, which is dramatic for most Venezuelans. Hospitals and health control centers do not escape the government's negligence. Illnesses that had been eradicated are coming back. Shortage of medicines and if we manage to get them, it will be at a price that exceeds the minimum wage of many Venezuelans. Just buying a medicine can leave you without food in your fridge for a month. And with the covid19 pandemic, all Venezuelans are under the protection and mercy of God.

The maintenance of urban transportation is just as dramatic. We have a paralyzed public transportation fleet. Venezuelans who do not have a private vehicle spend long hours waiting for a bus. Or to avoid waiting they choose to take long walks, they go on foot to their destinations. Most of the private vehicles are broken down due to a lack of spare parts. Like for example my truck, which I have had in my garage for 3 months due to a lack of tires and lack of gasoline. Yes, gasoline. In Venezuela, an oil country, there is no gasoline. I do not want to go on telling about other areas, such as supplies and repair of agricultural machinery, with this brief description I think it is enough, besides I do not want to get depressed by writing this.

Do you already have an idea of what Venezuela is like today?

I tried to make a brief scenario, to give you an idea of the Venezuela of today, with the most serious economic and humanitarian crisis in the history of the country and the world, but surely you are wondering: why the permanence of the government? That is another story that I will not tell you today.

Now I will tell you about our currency. The bolivar is the legal tender in Venezuela.
As I briefly mentioned in the previous article, the bolivar has undergone three reconversions. The first one was in 2008 when three zeros were eliminated, then in 2018 five zeros, and as of today, October 1st, we have an elimination of six zeros. In less than 13 years, 14 zeros have been eliminated from the Venezuelan currency. The purpose of this elimination of zeros from the currency is to facilitate the compression of large amounts of money in economic transactions.

We have a hyperinflation that wreaks havoc at all levels at the time of payment, they are enormous amounts. We have a minimum wage that is not enough to survive. It takes 30 minimum wages to cover the basic food needs of a family. That is the reason for the exodus of Venezuelans, it is difficult to survive like this.    

Before the pandemic, we entered into a process of dollarization. But not on the part of the government, because our salary is still paid in bolivars, in the national currency, which has been super devalued.

Venezuelans are paid in bolivars but we pay our commercial transactions in dollars. And we also save in dollars, for those who can save, of course. At least since I started writing in the read.cash community and earning in BCH, I withdraw my cash in bolivars and then buy dollars.  Dollarization is the result of the permanent hyperinflation that has made the local currency meaningless. That is why I say that with such a decadent economy, in a country that produces nothing, we are facing a bolivar that is going to disappear. At present, it is worthless, almost on its way to extinction. The government only puts inorganic money into circulation as the main source of financing without productive backing. Every month it places subsidy bonds as economic measures.  

The elimination of the six zeros to our national currency is only a make-up, in other words, a false illusion, now the amounts in commercial transactions will be minimal, but for our loss of monetary value, because in reality, we pay the same amount in dollars.

The intention of making known the ugly side of Venezuela is because of what happened today with the elimination of zeros to our already battered bolivar. It is the reality of every Venezuelan. But I keep my faith and hope. With the optimism that characterizes me, I move forward.

Living in peace and tranquility is an option and I choose it. But I take action, I move, I do not stay still, every day I remain in search of producing additional income and thanks to God in read.cash I have found it.

Thank you so much to all of you, to my sponsors, and to so many people who read my posts. You are part of my happiness. You make me reflect, that there is still hope. Thank you.

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Written by   68
2 months ago
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Comments

The "economists" of the Central Bank of Venezuela are making the same game again. Eliminating zeros of our currency never have stopped the hyperinflation. Only three years ago they did the same strategy and not surprisingly our currency passed from units to millions in few month. And, you haven't told anything about the bills design. The new bills now are the same model (the same Simon Bolivar's Face) just changing the amount and the color.

$ 0.00
2 months ago

Their plan is to eliminate the paper to become a virtual currency.

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2 months ago

It hurts me to see Venezuela like this. I hope it improves for the better and does it fast. Luckily friend you have here in read.cash an escape route and a stable way of extra money for now. Do not worry that things will improve soon, you will see that they will. Stand firm, a lot of strength.

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2 months ago

You are right, here in read.cash I have an excellent financial input, I have been able to save in dollars and I found a spectacular community, where there are people as special as you. Thank you for your beautiful words that reaffirm that soon we will have a change in my beautiful Venezuela.

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2 months ago

This community is a wonderful friend. I have been here less than a month and I tell you that I have learned a lot with you. Much strength my friend!

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2 months ago

What has happened in our country is regrettable. Like you, I like to be positive and highlight the good things about Venezuela. But I also like to talk about the bad and tell what happens here. Because we can't cover the sun with one finger. ;)

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2 months ago

That's right, you can't hide what is in plain sight. We must remain optimistic in the hope of change for the better. And that our eyes can see it. Thank you my dear friend for your comment

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2 months ago

Keep being an optimistic friend, even that was happening in your country. All of those will be vanished someday and replaced much more beautiful than before. Have faith amd dont lose hope. Fighting😊

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2 months ago

What beautiful words, they touch me very much. Thank you for your beautiful comment. Of course I will continue with faith and hope. Thank you my friend

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2 months ago

I'm glad to know sis, that read.cash had helped you a lot in terms of financial thing. This platform really helped us in that term. Same to me as well. Anyways have a nice a day to you sis, despites uncertainties you had experienced in your country.

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2 months ago

Being on this platform and with this wonderful community helps me financially and emotionally. When I read posts that encourage me to keep on fighting, to not give up, it is gratifying. To meet people as generous and special as you, that is priceless. Because for me it is of great value. Thank you my friend.

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2 months ago

Wow your really my friend. It's not the earning alone that made valuable here but the meeting of people grom different places and seeing and knowing how generous and kind they are. That's priceless.

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2 months ago

All this about the reconversion has us crazy, many things have stopped because of this issue, but on the other hand the dollar does not stop rising..... Good thing we have read.cash in that you are absolutely right. happy weekend friend.

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2 months ago

That's right, we haven't been able to use the cards at the pay point, let alone mobile payment, since yesterday. Total madness. I wish a great weekend to you my friend.

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2 months ago