Penguin: Venezuela Offers Petro-Backed Crypto Currency

Commercial Intelligence, Cultural Intelligence
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Venezuela aims for crypto alchemy with new ‘petro gold’ token

Maduro is hoping cryptocurrencies will help Venezuela skirt U.S. financial sanctions as it struggles under hyperinflation and a collapsing socialist economy.

Phi Beta Iota: Sanctions are going to die in next decade. Ecuador particularly and UNASUR generally, should be looking at three things: nationalizing all central banks; expelling all foreign and absentee land owners; and creating a crypto-currency at the same time that they leave the SWIFT system.  All IMF and WB officials should be declared Personna Non Grata.

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