-Venezuela is now going to issue bank notes with denominations of 10,000, 20,000 and 50,000
-The inflation rate is now 1 300 000%
“My father was a lawyer,” says Walter Levy, an internationally known German-born oil consultant in New York, “and he had taken out an insurance policy in 1903, and every month he had made the payments faithfully. It was a 20-year policy, and when it came due, he cashed it in and bought a single loaf of bread.” Paper Money by Adam Smith (George J.W. Goodman)
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