The Venezuelan “Petro” – Towards a New World Reserve Currency? By Peter Koenig
On February 20, 2018, Venezuela has launched the “Petro” (PTR), a government-made and controlled cryptocurrency, based on Venezuela’s huge petrol reserves of about 301 billion barrels of petrol. The Petro’s value will fluctuate with the market price of petrol, currently around US$61 per barrel of crude.
The Petro was essentially created to avoid and circumvent illegal US sanctions, dollar blockades, confiscations of assets abroad, as well as to escape illegal manipulations from Florida of the Bolivarian Republic’s local currency, the Bolívar, via the black-market dollars flooding Venezuela; and, not least, to trade internationally in a non-US-dollar linked currency. The Petro is a largely government controlled blockchain currency, totally outside the reach of the US Federal Reserve (FED) and Wall Street – and it is based on the value of the world’s key energy, hydrocarbons, of which Venezuela has the globe’s largest proven reserves…. article continues here.. The Venezuelan “Petro” –
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MEFOBILLS shocktherapy The Petro is money, not commodity. The Petro became money the minute Maduro made it good for taxes. Goods and Services will be priced in Petro’s. Most likely there will be stores taking Petro’s for those who take their salary in that unit.
Government workers will be the first to have salary paid in Petro’s. … Petro volume in money supply will be held to price of oil…Early adopters will be buying Petro’s with dollars, which will then help anchor Bolivar….Blockchain adds transparency, so Petro has good chance to be moral legal money.
I’ll make this prediction right now, it will work. Other nations in Caribbean and Latin America will also jump on Petro bandwagon. Mammon, now occupying Washington, London, and Tel-Aviv will not be happy.
Will the US Invade Venezuela?
by Kevin Zeese – Margaret Flowers at COUNTERPUNCH
Speaking at his alma mater, the University of Texas, on February 1, Secretary of State Tillerson suggested a potential military coup in Venezuela. Tillerson then visited allied Latin American countries urging regime change and more economic sanctions on Venezuela. .. continues below.. Continue reading “US Fumes as ‘Petro Money’ subverts Campaign to Destroy Venezuela’”