Strength and Sovereignty
VEN109b, 2019, 10,000 VES

Slot Comment:

Bolivares Soberanos (Sovereign Bolivar) Narrow Seg. Sec. Thread

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Note Details

  

Set Details
Note Description: 10,000 Bolívares 2019 - Wmk: S. Bolívar & BCV
Grade: 67 EPQ
Country: Venezuela
Note Number: VEN109b
Signatures/
Vignettes: 		- With Narrow Seg. Sec.
Thread
Certification #: 8085076-074
Owner: Revenant
Set Category: World
Set Name: Strength and Sovereignty
Slot Name: VEN109b, 2019, 10,000 VES
Research: Currently not available

Owner's Description

A new series of BsS notes was released in Jun 2019, but the 2019 series contained only three new notes. In a move similar to what was seen in Zimbabwe at the end of 2008, the severity of the hyperinflation caused the central bank to “Skip ahead,” and bypass several denominations that would have seemed logical / that you normally would have expected to see in this series. So, there is no Bs.S 1000, or 2000, or 5000. They skipped right to 10000 BsS with the P-109, 20000 BsS with the P-110, and 50000 BsS with the P-111.

In Jan 2019, the Permanent Council of the Organization of American States (OAS) approved a resolution "to not recognize the legitimacy of Nicolas Maduro's new term as of the 10th of January of 2019," while the United Nations General Assembly formally recognized the Maduro government as the only legitimate representative of Venezuela at the United Nations. In August 2019, United States President Donald Trump signed an executive order to impose a total economic embargo against Venezuela.

In October 2019, Venezuela was elected to the United Nations Human Rights Council. Then, in June 2020, a report by the Robert F. Kennedy Human Rights Organization documented enforced disappearances in Venezuela that occurred in the years 2018 and 2019. During the period, 724 enforced disappearances of political detainees were reported - with Venezuelan security forces subjecting victims, who had been “disappeared,” to illegal interrogation processes, torture and cruel or inhuman treatment. The government used these enforced disappearances to silence political opponents and other critical voices it deemed a threat.

At the time it was announced and released to circulation in Jun 2019, this note was worth about US$2, with the Bolivar Soberano worth about one fifth of an American cent (USS1 : 500 BsS).

It really is scary just how much all of this “rhymes” historically with what happened in Zimbabwe… the first redenomination was 1000:1, the 2nd redenomination was bigger than the first, the last letter of the ISO currency code changed every time…

When the new notes were released in 2019, the Central Bank of Venezuela did not mention inflation at all. They laughably claimed that the new banknotes would "complement and optimize" the monetary system and that their purpose was to make payment systems "more efficient" Who can make this stuff up?

According to xe.com, on 23 April 2020, 1 USD was equal to 144697 VES. On 24 April 2020, it was 1 USD : 171140 VES. By Aug 2020, the 50000 BsS note was worth US$0.15. Accordingly, in March 2021, it was announced that there would soon be 200 000 VES, 500 000 VES, and 1 000 000 VES notes.

The front of these notes all features the same portrait of Simon Bolivar that has been used so much at this point on VEN108. It would be used AGAIN in 2021 for VEN112 through VEN114 - that’s 7 denominations in a row with essentially the same front design, albeit in different colors. The back of these notes shows the "Mausoleum of the Liberator" Simón Bolívar - more on that in my description for VEN111.

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