” Blackbirds tend to like shiny objects” ~ The Bloody Raven
In August 1498 Christopher Columbus’ Third voyage explored the Gulf of Paria that divided the Island of Trinidad from South America. In addition, he also discovered the mouth of the great Orinoco River, evidence that the land to the south was not another Island but an entire continent, the basin region of the river was eventually be named Venezuela and Columbia.
Now to the Coin!
You’ve probably read the news accounts, seen the videos, even followed the testimonials of some of our fellow Steemians living in Venezuela.
Once upon a time, according to the monetary law of 1879, the Venezuelan Bolivares was defined to the equivalent to 4.5g of silver while 1887 the gold Bolivares was unlimited legal tender.
Then a day came in 1930 and Venezuela went off the gold standard and fixed its value with the US Dollar in 1934. It was relatively stable between 3 to 4 Bolivares to the US Dollar up until 1983.
Since then the Venezuelan Bolivares has had its volatile ups and downs. A Socialist government had climbed to power promising more social programs to deal with the growing needs as more of her citizens live at subsistence and impoverished levels. Venezuela depended very much upon her Income from her huge oil reserves. But instead of diversifying her economic and business base the country decided to nationalize its producers. When oil prices fell, the country fell into serious debt and the government resorted to its own form of Piracy of public wealth in destroying their own currency. Printing currency.
My Venezuelan fellow nurse
I have this college at work from Venezuela and she described the kind of life living in Caracas. They were once part of a middle-class family with professional careers, owned rental properties and lived in a Penthouse. Conditions became terrible seems to put it lightly as her family eventually abandoned their homes and what semblance of what life they had there for there are no longer opportunities, social civility has crumbled due to lawlessness, and living became simply hopeless.
I asked if more of her family planned to immigrate here to Canada. They've inquired but Canadian professional colleges and associations had very high standards and numerous barriers. Financial, technical and bureaucratic barriers that prevent entry back into their professional training and skill sets. They would be forced to take on jobs unsuited to their training and careers they had built in Caracas.
Her relatives eventually chose to emigrate to Colombia and others in Chile. It was something I've wondered about why my own Canadian leaders are so enamored of expediting the importing Muslim immigrants at the expense of those who have educations, able to speak English, self-sufficient, proven productive, marketable skills. In all, much more ideal candidates. Stupidity or a misguided ideologically driven agenda?
Rather than having this 20,000 Bolivares note in 2001, imagine if it were in Silver coin 2 Bolivares?
10,000 coins that would be 83,500g or 83.5 kg of Silver or 2,684 Toz.
So, at today’s price of $18.00 USD per oz, that would be $48,327 USD.
This is why we #steemsilvergold pirates Stack precious metals.
All fiat currency eventually goes to ZERO!
Please check my math @stokjockey and @silversaver888
The current Venezuelan Currency is called Bolivares Soberano (sovereign) replacing the Bolivares Fuerte (Strong) in August 20th, 2018.
Bolivares Fuerte originally replaced Bolivar on January 1st, 2008.
Bolivar originally replaced the Veneaolano to consolidate various currencies.
The hero of Latin American independence from the Spanish Empire not merely for Venezuela but also for Bolivia, Columbia, Ecuador, Peru and Panama by 1830. He was born from an aristocratic family, educated in Europe, but an amazing political and even more brilliant a Military Career.
I hope you enjoyed this coin feature, thank you for stopping by for a read.
“Et lux in tenebris to serve laboro, sum sicarius” “I work in the shadows to serve the Light, I am an Assassin”