You see, it is assumed that for every 2.15 BsF that you have in your pocket, the Central Bank of Venezuela should have $ 1 (or its equivalent in other currencies) in international reserves.
Supposedly, the BCV can not create Bs, except when receiving foreign currency. So legally, you Rs 2.15 each entitle him to have $ 1 of reserves.The dollar is yours and nobody else, by natural right, as it somehow.
However, when the government established an exchange control in February 2003 not only established a fixed exchange rate between U.S. dollar and the Bolivar (then 1,600 Bs / $), but also restricted the freedom of the Venezuelan bolivar to change their dollars for their international reserves. Like all freedom-being, the Venezuelan government was only able to respond to the situation caused by unemployment (or sabotage, according to taste) oil murdering a fundamental freedom of every individual: to dispose of their property as they see fit.
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