Venezuela Follows India’s Example and Voids Half of Its Cash

Re:Venezuela Follows India’s Example and Voids Half of Its Cash by MichaelGG on Saturday December 17, 2016 @03:13AM (#13199841)

>So yeah if after 15 days you still have bill leftover you pretty much were into corruption, drugs, money laundering, smuggling

First off, money laundering shouldn't be a crime or on that list.

Second, there's no need to force a recall of notes except to exert more government influence and potentially "steal" money from people.

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Re:Venezuela Follows India’s Example and Voids Half of Its Cash by jjeaff on Saturday December 17, 2016 @04:02AM (#13199935)

In the case of hyperinflation, it doesn't matter much. When cash on hand loses half it's value in a month on a regular basis, virtually no one will keep more cash than is needed for purchases and will spend all of it the day they are paid if possible.

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Re:Venezuela Follows India’s Example and Voids Half of Its Cash by gozur88 on Saturday December 17, 2016 @04:17AM (#13199973)

Yeah, if you were a criminal in a country where the local currency was inflating like that you'd do business in dollars or euros.

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Re:Venezuela Follows India’s Example and Voids Half of Its Cash by ZenoArrow on Saturday December 17, 2016 @05:28AM (#13200095)

True, though controlling the supply of the local currency can also be used to control the prices that citizens pay for goods, which can be used to drive more people into the black market.

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Re:Venezuela Follows India’s Example and Voids Half of Its Cash by bjelkeman-again on Saturday December 17, 2016 @03:48AM (#13199910)

"Money laundering shouldn't be a crime"?

Explain why it shouldn't, please.

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