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Venezuela to Launch "Petro" Cryptocurrency

IMG Auteur
Mish
Global Economic Analysis
Published : December 04th, 2017
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Category : Opinions and Analysis
With Venezuela in default as well as hyperinflation, president Maduro vows to fight a US "blockade" with the "Petro".

President Nicolas Maduro said on Sunday that Venezuela will launch a cryptocurrency to combat what the leftist leader says is a financial “blockade” against the crisis-hit nation spurred by U.S. sanctions.

Maduro said the OPEC member’s new currency, “petro,” will be backed by natural resources reserves although he did not provide details on the logistics of its roll-out.

The number 1 problem in Venezuela is Maduro, not lack of food or money. Maduro's socialist program is what created hyperinflation.

Venezuela Hyperinflation

Venezuela Hyperinflation Hits 4,000%

Venezuela Bitcoin

Bitcoin Conferences

Bitcoin Retweets
Source : www.themaven.net
Data and Statistics for these countries : Georgia | Venezuela | All
Gold and Silver Prices for these countries : Georgia | Venezuela | All
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IMG Auteur
Mish 13 abonnés
Mike Shedlock / Mish is a registered investment advisor representative for SitkaPacific Capital Management. He writes a global economics blog which has commentary 5-7 times a week. He also writes for the Daily Reckoning, Whiskey & Gunpowder, and has over 80 magazine and book cover credits. Visit http://www.sitkapacific.com
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