LATE-STAGE SOCIALISM: Venezuela warns businesses not to halt payments amid currency overhaul.

Socialist President Nicolas Maduro said in March the bolivar currency would be redenominated on June 4, and the central bank has been tweeting pictures of the new banknotes emblazoned with Venezuelan historical figures.

But the banks have not received the new bills and have not had a chance to adjust cash machines for them, according to two finance industry sources.

Opposition critics say Maduro is at risk of repeating the chaos of late 2016, when the government withdrew the largest bill from circulation, sparking long lines, looting and protests that led to at least three deaths.

Maduro is knocking three zeroes off the bolivar in an effort to hide the country’s estimated 14,000% inflation rate. Of course, playing games with the currency only adds to the economic uncertainty which helps cause… inflation.

Meanwhile: EU to ‘swiftly’ hit Venezuela with sanctions over election.

Why bother? And why give Maduro another scapegoat?