“Run On Banks” As 72-Hour Mandate Forces Venezuelans To Turn In Large Bills: Strict Cash Controls
adUnit = document.getElementById("google-ads-QRI1");
google_ad_client = "ca-pub-1897954795849722";
adUnit = document.getElementById("google-ads-QRI1");
adWidth = adUnit.offsetWidth;
if ( adWidth >= 999999 ) {
/* GETTING THE FIRST IF OUT OF THE WAY */
} else {
google_ad_slot = "0";
adUnit.style.display = "none";
}
By Mac Slavo
In the ongoing saga of Venezuela’s sad economic slide into hell, it came as a strong arm move on the part of President Maduro.
Bank runs are happening in Venezuela, but not to pull money from the banks; rather, to get their 100 Bs. bills into the banks before a 72-hour time limit expires and the notes become outlawed currency that is no longer officially recognized.
Long lines once again, and this time for the opportunity not to lose all the money that these struggling people have been saving up and safeguarding amid this insane and chaotic world of Venezuela:
Thousands rushed to their banks today. The 100 Bs. note will be out of circulation in the next 24h pic.twitter.com/XPFpUQ4x5P
— Mariana Zuniga (@marazuniga) December 13, 2016
Venezuelans are rushing to the banks this week in a desperate attempt to protect their savings from the government’s latest spasm of reckless financial policymaking.[T]he government gave everyone a 72-hour countdown to turn in all their 100 bolivar notes before they’re removed from circulation.
[…]
googletag.cmd.push(function() { googletag.display('div-gpt-ad-1470694951173-5'); });
(deployads = window.deployads || ).push({});