Apparently, it's going to start working like this from February onwards...
Before I emigrated more than eight years ago, payments were already being made in dollars within the country.
Of course, it was done discreetly, without anyone knowing much about it.
Especially for large transactions like houses or cars.
And since the pandemic, nobody wants the worthless national currency (bolivars).
They only want dollars.
Currently, people receive their old-age pensions in dollars.
Which doesn't even amount to $3 a month—absolutely a pittance.
It's a country with infinite resources, but ruined by a damned dictatorship.
If they were smart, they would have already adopted the real individual solution, which is bitcoin.
I totally agree with you 👌
No, dollarizing the country means accepting currency issued by a third party. If Venezuela does that, it will lose sovereignty over the issuance of its own currency.
The solution is to eliminate exchange controls and allow a free market for foreign currencies, such as the dollar. And, of course, to stop printing bolivars indefinitely and without control.
It currently works the same way: you can pay in bolivars, cash dollars, or digital dollars (USDT/PAYPAL/ZELLE, among others).
This is false. Those who receive pension payments do so in bolivars, which are then estimated in terms of how many dollars they might be worth, but that is another matter. It is not as if they go to the bank and withdraw dollars for their pension payments.
And there is something else to add. People who expect the state to support them in their old age must accept whatever crumbs it provides. State pensions are a sham. The real pension that someone of advanced age can enjoy is the one they saved thanks to their work and deposited in assets that generated returns or appreciated over time and, when the time comes, allow them to cover their expenses and needs without depending on a third party (the state).
You're right, believing that the state will save you when you have a problem is a mistake...