What is this?

want to ask beforehand because my native language is Spanish and I'm using a google language translator and sometimes the meaning of the translation is not what is meant or expressed.

Yesterday for comments in the corridor or in informal gatherings I found out that our president made the announcement of a devaluation of the currency, I admit that I have not been aware of the news since we are living it every day, but this It surprised in some way to see headlines like this.

https://www.elsoldelcentro.com.mx/mundo/devaluacion-en-venezuela-maduro-ordena-eliminar-tres-ceros-al-bolivar-1438111.html

http://www.el-nacional.com/noticias/economia/maduro-anuncia-nueva-reconversion-monetaria_227997

http://www.abc.es/internacional/abci-maduro-dispara-devaluacion-bolivar-201802060134_noticia.html

https://informe21.com/economia/maduro-anuncia-reconversion-monetaria

This is beneficial for the much-hit economy of the country ?, I do not know! but from what I have seen and experienced in my own flesh in recent years and what has been said by many economics gurus, this has catastrophic consequences for the ordinary Venezuelan like you and me.

See how the currency is devalued and live this in the flesh is not easy to assimilate, because if you have money saved, or do a mental exercise and we will play a bit with temporary feedback. Suppose you have money in the bank which generates certain interests (I mean a lot of money as we say here in Venezuela), and since you are not suspicious or predictable you have it in legal currency or in bolivars and imagine that we are the year 2003 and you have an amount of money of 500 million that at that time was something, and to date today those 500 million are representing 500 sovereign bolivars.

I am not an economist but this is wrong since we have gone from 1999 to what is going today by a series of devaluation and we have gone through different monetary cones, from bolívar (Bs) to Strong bolívar (BsF) and from strong bolívar we will go to sovereign bolívar (BsS, I suppose so will be the acronym)

Here is a brief outline of how the devaluation of our currency has been sequential

http://economia.com.ve/historia-de-la-devaluacion-en-venezuela/

Unfortunately or fortunately for some for this is that it serves our currency or the paper in which it is printed, since it is worthless and as it is not accepted by merchants or transporters people can not get rid of them find a more artistic way , selling it as works of art or as an ornament for posterity since bond paper is in the clouds https://maduradas.com/creativos-los-dibujos-en-los-billetes-que-denuncian-la-devaluacion-del-bolivar-en-venezuela-fotos/