Fact Check: Did Italians throw away their money because of COVID-19 frustration?

Hyderabad: Thousands of people have died of COVID 19 worldwide. Irrespective of their position, wealth, caste, creed, everyone is maintaining social distance and staying at home to break the chain and prevent the spread of infection.

Hospitals are brimming to the full and the doctors are not able to help the patients due to lack of facilities.

Amid this, few pictures are surfacing on Facebook, Twitter and WhatsApp, showing loads of currency notes thrown on the streets.

"People of Italy have thrown all their money on the roads saying that it is not going to save them from death. If you are well off, spend this on the needy. Lesson for Humanity," reads the post.

We found an article on a website https://ghanashowbiz.com, with the title "(Sad Reality): Italians Abandon All Their Money on the Streets because it's Useless and Can't Save Them from Death – Photos"

https://www.ghanashowbiz.com/sad-reality-italians-abandon-all-their-monies-on-the-streets-because-its-useless-and-cant-save-them-from-death-photos/?utm_source=rss&utm_medium=rss&utm_campaign=sad-reality-italians-abandon-all-their-monies-on-the-streets-because-its-useless-and-cant-save-them-from-death-photos

The article says that as Italy is the most affected country, its citizens are rejecting the money in order to show how frustrated they are with COVID pandemic.

Fact check:

The claim is FALSE.

When searched the images using Google Reverse image search, we found a few results. Imgur showed the viral pictures with the title: "A bank was looted in Venezuela, and then the people burned the money to show it was worthless."

https://imgur.com/gallery/cjndk8o

This post was published on March 12, 2019. This implies that these images are not related to COVID-19 pandemic and this place might be Venezuela and NOT Italy.

On April 5, 2019, Snopes fact-checking report claimed: "People throwing currency in the gutter in Venezuela as it becomes worthless due to socialism".

https://www.snopes.com/fact-check/venezuela-money-in-gutter/

According to the report, a wide range of issues that led to the country's current economic crisis, including plunging oil prices, government corruption, political unrest, and socialist policies. That brew of unfavorable economic conditions have spawned massive hyperinflation which has greatly devalued Venezuela's currency.

The currency of Venezuela, Bolivar Fuerte was replaced by Bolivar Soberano in August 2018. Bolivar Fuerte currency in all amounts was completely withdrawn on 5 December 2018. Hence the discarded money seen literally became invalid because it has been replaced by Bolivar Soberano. So the money thrown on the streets is Bolivar Fuerte in Venezuela, and NOT Italian currency during the corona pandemic.

These images might be of March 11, 2019, as they were vigorously shared in various media explaining the situation.

Therefore, the viral images are from Venezuela and are NOT related to Italy or COVID pandemic. The old currency of Venezuela was thrown on the streets of Venezuela as it was no longer valid and was replaced by new currency after hyperinflation in the country.

The above claim is FALSE.