De donde provienen los bolivares y la crisis en Venezuela

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Detailed close-up of Brazilian coins displaying various denominations on a clean white surface.
Credit: pexels.com, Detailed close-up of Brazilian coins displaying various denominations on a clean white surface.

The Venezuelan bolivar has a rich history, and understanding its origins can help explain the current crisis in Venezuela. The bolivar was first introduced in 1861, named after Simón Bolívar, the Venezuelan military leader who played a key role in the country's independence.

The Venezuelan economy has struggled with inflation for decades, but the situation worsened in the 1990s. In 1998, Hugo Chávez was elected president, and his policies led to a significant increase in oil prices, which further fueled inflation.

The bolivar's value plummeted in 2016, when the country's economy began to collapse. This was largely due to the decline in oil prices, which accounted for most of Venezuela's revenue. The government's attempts to control the economy through price controls and currency manipulation only made things worse.

The bolivar's current crisis is a result of the country's economic mismanagement and lack of transparency, which has led to a severe shortage of food and medicine.

Historia de los Bolivares

Credit: youtube.com, 📌Summary of Simón Bolívar🚩 | History of Simón Bolívar the Liberator of Latin America

The history of the bolivar is a fascinating story that spans centuries. The first bolivar, called the "bolivar de plata", was created in 1879 by President Antonio Guzmán Blanco, who consolidated the country's monetary system.

This new currency was a significant departure from the dollar that was previously used in Venezuela. The bolivar de plata circulated freely for over 130 years, until the 1970s when production costs became too high.

The bolivar has undergone several transformations since then, with changes to its composition and design. In the 1980s, a shortage of nickel led to the creation of new coins made from a bronze and zinc alloy.

Here are the key dates in the history of the bolivar:

  • 1879: The "bolivar de plata" is introduced by President Antonio Guzmán Blanco.
  • 1970s: The production of the bolivar de plata becomes too costly and is replaced by a nickel alloy.
  • 1980s: A shortage of nickel leads to the creation of coins made from a bronze and zinc alloy.
  • 1989: The nickel shortage is resolved and production of nickel coins resumes.
  • 1998: New coins are introduced with denominations of 10, 20, 50, 100, and 500 bolivares.
  • 2000: The first bimetallic coin, the 1000 bolivar, is introduced.
  • 2007: A monetary reform eliminates three zeros from the currency, resulting in the "Bolívar Fuerte" series of coins.

Bolívar Digital (VED)

Bolívar Digital (VED) was launched in 2007 by the Venezuelan government to provide a digital identity for its citizens. It's a unique number assigned to each person.

The VED number is used for various purposes, including tax payments and access to public services. This digitized system aims to increase efficiency and transparency.

Credit: youtube.com, Venezuela: un millón de bolívares soberanos ahora equivalen a un bolívar digital

VED numbers are required for all Venezuelan citizens, including children and adults. You can obtain your VED number at a local office or through a designated registration process.

The VED system is designed to facilitate access to public services, such as healthcare and education. It's also used to track tax payments and other financial transactions.

VED numbers are linked to a person's biometric data, including fingerprints and facial recognition. This ensures the accuracy and security of the system.

Un Poco de Historia

The history of the bolívar is a long and fascinating one, with roots dating back to 1879 when President Antonio Guzmán Blanco consolidated the Venezuelan monetary system by introducing the "bolívar de plata" as the country's official currency.

In the early days, the bolívar was a unit of account that circulated freely, but as time passed, its production became increasingly costly, leading to a switch to the use of nickel in the 1970s.

Credit: youtube.com, 🎬 Documental de la Historia de Simón Bolívar🚩

However, the Second World War led to a global shortage of nickel, causing bolívars made from the metal to become highly valued and eventually disappear from circulation.

In response, the government produced a new series of coins made from a bronze-zinc alloy, which remained in circulation until the nickel shortage was resolved.

But the story doesn't end there – in 1989, a new shortage of nickel led to the introduction of coins made from steel with a nickel coating, and in 1998, a new series of high-denomination coins was introduced, featuring denominations of 10, 20, 50, 100, and 500 bolívares.

Two years later, in 2000, the 1000 bolívar coin was introduced, featuring a unique bimetallic design with a golden ring around it.

Here's a brief timeline of the major events in the history of the bolívar:

  • 1879: The "bolívar de plata" is introduced as Venezuela's official currency.
  • 1970s: The use of nickel is introduced in the production of bolívars.
  • 1989: A global shortage of nickel leads to the introduction of coins made from steel with a nickel coating.
  • 1998: A new series of high-denomination coins is introduced.
  • 2000: The 1000 bolívar coin is introduced, featuring a bimetallic design.
  • 2007: A monetary reform eliminates three zeros from the bolívar, leading to the introduction of new coins with the same design.

Concepto y Significado

The concept of bolivares is rooted in the country's history, specifically in the name of Simón Bolívar, a Venezuelan military leader who played a key role in the Latin American wars of independence.

Credit: youtube.com, El Bolívar Digital. Venezuela. Desastre numismático?.

Simón Bolívar was born in Caracas, Venezuela in 1783, and his legacy has had a lasting impact on the region.

The Bolivarian Republic of Venezuela was established in 1819, with Bolívar as its president, and the currency was named after him.

Bolivares were first introduced as a replacement for the Spanish real in 1810, during the Venezuelan War of Independence.

The Bolivarian currency was initially pegged to the Spanish dollar, but it was later devalued due to inflation and economic instability.

The bolivares was divided into 100 centimos, a fact that has remained consistent throughout its history.

The currency was widely used throughout Venezuela and other countries in the region, including Colombia and Ecuador.

La Crisis de Efectivo y la Economía Zombi de Venezuela

Venezuela está sufriendo una crisis de efectivo que ha llevado a una economía zombi, donde la inflación es del 1,3 millones de por ciento al año.

La economía venezolana se ha derrumbado debido a la mala gestión y la corrupción del gobierno, lo que ha llevado a una escasez de bienes y servicios básicos.

Credit: youtube.com, Crisis genera escasez de efectivo en Venezuela

La moneda venezolana, el bolivar, ha perdido su valor y ahora se necesita más de 100.000 bolivares para comprar un dólar estadounidense.

La gente está sufriendo la escasez de alimentos y medicinas, y muchos han tenido que emigrar a otros países en busca de trabajo y supervivencia.

La economía zombi de Venezuela es un ciclo vicioso donde la gente no puede comprar nada porque no hay efectivo, y el gobierno no puede imprimir más dinero porque ya no tiene valor.

La inflación en Venezuela es tan alta que se necesita más de 1.000 bolivares para comprar un kilo de arroz, que en Estados Unidos cuesta alrededor de 2 dólares.

Ruben Quitzon

Lead Assigning Editor

Ruben Quitzon is a seasoned assigning editor with a keen eye for detail and a passion for storytelling. With a background in finance and journalism, Ruben has honed his expertise in covering complex topics with clarity and precision. Throughout his career, Ruben has assigned and edited articles on a wide range of topics, including the banking sectors of Belgium, Luxembourg, and the Netherlands.

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