A few days ago, on December 16th, the president of Venezuela, Nicolas Maduro, announced that he will be pushing to take Venezuela's largest bill out of circulation. Because most of this country's population relies on physical money, the 100 Bolivar note makes up roughly 77% of the money in circulation. This will hurt the citizens greatly. After hearing the news, protests broke out. Many of them resulted in violence and vandalism. This reform would leave citizens unable to buy food or Christmas presents. The president decided to delay the removal of the note for further notice.
Questions:
1. Do you believe that removing the 100 Bolivar note will help solve the extreme inflation problem in Venezuela?
2. Should the protesters have resulted to violence?
Answer:
I do not know much about the economy, but I know the citizens just cannot go through the removal of the bill yet. Although violence should be avoided, in this case the extremeness of the protests seemed to work in the citizens' favors.
Replies
This could go either way and it really isn't something that can justify the reasoning. This really was a bad time and that is part of what caused the riots, but violence really doesn't help anything and if they expressed it for peacefully, there would be this much damage.
It all really depends on how the people take it and go about with it. Violence never helps, but in some cases it scares the goverment and other people.
not knowing their economy changes everything but, knowing that the population highly relies on it it seems like a bad idea to just completely cut it. they might want to start slow. no matter what the case is i don't think violence is ever the answer. they could have protested in peace which would have made sure that no one got hurt. i think the government will have to have better communications with the people if they want this to work.
This could go either way and it really isn't something that can justify the reasoning. This really was a bad time and that is part of what caused the riots, but violence really doesn't help anything and if they expressed it for peacefully, there would be this much damage.
Well it could help with the inflation but a lot of people will loose a lot of there money because the 100 Bolivar Note makes up more than 77% of the money in circulation.
Violence isn't all ways the right thing but in this case it worked for the protesters.
I also don't know much on their economy, but taking away the bill would make the citizens angry in my opinion. No they shouldn't have gone to violence but I can also see why they would.
I do think that removing the note could solve the extreme inflation problem but I also think it could create more problems considering the people of Venezuela aren't real keen on the decision. I don't think protesting should ever really result to violence, but if the people think that's the only way to make a difference then there's not a ton you can do to fix that.
I don't know much about the economy but I don't think that removing the note will help the inflation
I believe that taking the 100 Bolivar note away won't help anything, in fact it will probably make it worse, it will start more riots, and will make everyone pretty much broke, to put this in out minds, think of it as our government taking all 20 dollar bills. that one of our most common bills.
Taking away 77% of the money in circulation is not a good thing. Inflation means a general increase in prices and fall in the purchasing value of money so if you take away the citizen's money then they can't afford anything. It is unfortunate of what they are going through but violence is never the answer.
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