Venezuela Deploys National Guard As Venezuelans Protest Worthless Cash

Venezuela deploys its national guard to stop rioters. The Venezuelan government eliminated the 100 Bolivar bill as currency but failed to exchange the bill for smaller bills as promised. The Venezuelans started to riot after the banks did not open to exchange the bills.

Another example of how well socialism works. 

As hyperinflating Venezuela’s latest experiment in monetary lunacy continues with president Maduro announcing earlier this week he would remove 75% of the physical cash in circulation by eliminating the highest denomination 100 Bolivar bill, desperate and cashless Venezuelans, angry that the government hasn’t exchanged their voided bank notes as officials had pledged, on Friday rose up in protest and looted stores across parts of Venezuela.

Waving the now-worthless 100-bolivar bills, pockets of demonstrators blocked roads, demanded that stores accept the cash, and cursed President Nicolas Maduro in a string of towns and cities around Venezuela, witnesses said.

Via ZeroHedge