Toilet Paper Shortage Solved! Venezuela introduces 100,000 bolivar bill worth $2

Big enough to solve the toilet paper shortage.

Venezuela announced plans to begin issuing 100,000-bolivar notes on Wednesday as the government struggles to control skyrocketing inflation. One year ago, the largest bill was only 100 bolivars – an amount that is now practically worthless.

President Nicolas Maduro unveiled the note at a cabinet meeting. It will be worth about €2 euros or $2.3 on black market exchanges.

Caracas said the new bill is only a stop-gap measure amidst a more comprehensive financial overhaul, one facet of which is to eventually rid the country of paper money entirely.

  • k1992

    So, how much does it cost to print one of those things?

    • andycanuck

      They make it up in volume.

    • Blacksmith

      2.50 each, where is the problem?…..

    • Reminds me of Communist Nicaragua when the Sandinistas tanked the economy. Except it was worse — it became too expensive to constantly print up new bills so they came up with a novel idea: they simply rubber-stamped the old bills with “X 1,000,000”.

      Isn’t Socialism wonderful? It’s pure utopia my friend!

  • andycanuck

    I hope they’re not plasticized like ours.

  • Hard Little Machine

    Zimbabwe for years had to borrow money to afford to pay the printers in the UK to print their money, which was worthless.

    • Dingo

      Was going to say, looks like Zimbabwe’s minister of finance emigrated.

  • The technical workings of the socialist state.

    When money is worth less than toilet paper.

    • tom_billesley

      Toilet paper. Now that’s a currency that’ll hold its value.
      I was in Turkey at a time of high inflation, and they were handing out boiled sweets as small change. Some counties have resorted to cigarettes.

      • Drunk by Noon ✓

        In Russia in 1996, we would get candy in change that was less than 5 Rubles. I totally forgot about that.

  • Blacksmith

    “eventually rid the country of paper money entirely.”
    So barter system?

    • tom_billesley

      Cigarettes are always a good currency.

  • Stop digging, Maduro.

  • ECM

    …one facet of which is to eventually rid the country of paper money entirely.

    And there we go, the end game for most modern-day governments.

  • ontario john

    Another socialist success story. Or as we call it up here, the Liberal Party budget. Since that is Naomi Kleins favorite country, and she and her buddies control the NDP, I can’t wait to see the NDP economic platform at the next election.

  • simus1

    marxist gangster regimes like to create hyperinflation for the masses while they steal everything of value. The assertion “they are going to control inflation” next week, next month, next year, is beyond insane.

  • Exile1981

    I have to get one so I can add it to my collection of failed socialist money – I have a 10 billion dollar bill from zimbabwe and a script from the weimarch republic and a $5 canadian bill

  • DMB

    Venezuela would be better off with Canadian Tire money than with their worthless currency.

    • shasta

      If trudeau stays in power past the next election we will probably be better off with Canadian Tire money.

      • DMB

        If Trudeau stays in power past the next election I am buying gold. It will probably be the only thing in this country that will hold its value as for the real estate bubble will eventually burst.