Russia Makes Big Move Via Oil Backed Cryptocurrency

the Russian Federation is launching an oil backed crypto currency or at least exploring the possibility of launching such a cryptocurrency and I know what you're thinking this is what we've all been waiting for finally another cryptocurrency backed by a depleting unsustainable environmentally destructive resource I know so exciting right anyway we're gonna breaking down this story in some more depth for you but before we do jump into that just a quick shout out that the guys over at Nash dot IO the Nash exchange formerly known as NEX or the neon exchange are taking pre-registrations for their exchange what is promising to be one of the hottest decentralized exchanges in crypto land to inspire people to come and get signed up they're even way $100,000 worth of Bitcoin and 46,000 NEX tokens there's a link down below if you want to get signed up now onto our Russia story now the Russian State Duma or the lower house of the Federal Assembly of Russia plans to review and adopt new cryptocurrency regulations in March Oleg Nikolaev a member of the State Duma Committee of Economic Policy said that the Russian assembly house had led cryptocurrency regulations to its final stage in contrast to the Russian central bank's conservative stance on Bitcoin and other virtual currencies the aim is to make Russia a friendly place for crypto assets and for crypto businesses another skeptical central bank I'm so surprised said no one I am though happy to see that there is this regulation being pushed forward in Russia to help make Russia a more crypto friendly place and though we've been back and forth on what's Russia gonna do with the crypto scene so let's actually see these new rules and get signed into law that will be supremely awesome but that's not what you came forth that's a nice little addition to the story and the current state of regulation and crypto in Russia but what we came for is the Russian petro coin now the former Energy Minister egor yusuf of is also proposing an oil backed crypto currency it's really important at this stage to note that this is just a proposal this is not something that has been officially adopted by the russian government or by Gazprom or any other oil producers within the country just in frozen at the moment we'll have to see how this actually plays out but considering that he's the former Energy Minister I would take this proposal very seriously in deed Yousef ah've reportedly said that the introduction of a crypto settlement system on the energy market could allow for the avoidance of costs associated with the use of not backed up currencies and the fluctuations of their exchange rates he also cites savings on currency exchange commissions and trade restrictions as other examples of advantages that the proposed system could bring now at this stage there is no talk of it going as far as the petrol did and being some kind of standard currency for pensions and things like that within Venezuela the Venezuelan petrol course in this situation it seems that the primary goal of the Russian petroleum backed coin is primarily to make Gazprom and other oil giants in Russia more money by increasing efficiency and most importantly to help them avoid sanctions and this is becoming a massive potential use case for crypto currencies I'd love to see them just using Bitcoin to do International Settlements we have seen some international settlements happen one of those was actually between Russia and Turkey settling 3,000 tons of wheat using Bitcoin be great to see oil being sold for Bitcoin that would be the next step in the evolution but they're not going that direction they are making their own cryptocurrency but the ability to avoid sanctions is very very powerful part of block chain technology you can agree or disagree with the politics behind the sanctions but the reality is is that crypto is a tool to help avoid that the destruction of the projects roadmap is reportedly almost at the final stage there is no word yet on what blockchain this will be running on but my guess is that it would either be a private version of aetherium remember that see burbank russia's state-owned Bank is a member of the etherium enterprise alliance or it'll be running on the new version of waves Vostok this is primarily designed for businesses so we might see it running over there as well obviously the guys at waves do have some close relationships with different government sectors inside of Russia but aetherium does as well my bets on one of those two they might surprise us they'll make their own blockchain time will tell I suppose but this could be huge in terms of being able to sidestep us-led sanctions regimes and you know what I bet I bet that as soon as the Russian Petro coin gets launched it is going to be immediately sanctioned by the United States regulators just in the same way that we saw the venezuelan petrol and the iranian cryptocurrency immediately sanctioned by US regulators this one's also going to be the case because just think about it they killed Gaddafi for wanting to trade gold for oiling that is a big crime and itself they want to kill Maduro in fact marco rubio today tweeting out a picture of Gaddafi's dead body as some kind of insinuated threat to Maduro that were going to come and kill you the absurdity of the situation boggles my mind sometimes and of course we do have remember that some of the worst war criminals in America are in charge of the operation people like John Bolton if you still really think that the u.s. cares about humanitarian goals in Venezuela and not the oil wake up because it is definitely not the case but but the hungry people in Venezuela LARC well that's terrible it's an absolutely terrible situation to see what is going on in Venezuela people are hungry and that is horrible and hungry Venezuelans need help they need aid but they don't need political stunts they don't need weapons they don't need to have their government overthrown some fun facts for you by the way population of Venezuela is thirty two million people we have to assume that not every single one of those 32 million people is hungry maybe half them are hungry let's say well there are 40 million people in the United States struggling with hunger every day those people would probably love some kind of aid and that includes more than 12 million American children that go hungry every day but that's cool right those are hungry capitalists they just haven't pulled themselves up by their bootstraps enough to go down to the supermarket that's full of food not like those hungry socialists and they're empty supermarkets are they big difference right but hey you know what maybe it's America's a bigger country so you know as a percentage just kind of like there's less people that are hungry in America versus Venezuela well if it's about percentages of population that are hungry then I hope that you really care about Yemen because around 66% of its population is facing extreme food shortages but instead of caring about delivering humanitarian aid there the Western powers are backing Saudi Arabia selling Saudi Arabia the weapons needed to continue the blockade and the famine and the genocide going on in Yemen but they're Islamic hungry people so they don't really matter it's not like you know Venezuelans socialist hungry people they're the ones that really really matter nobody should be hungry anywhere but the hypocrisy of these situations really really stink because you know what those silly silly Yemenis should not have built their country on a place that didn't have oil otherwise somebody might have been more concerned about their hunger and we have Iran this is Saudi Arabia's mortal enemy and unsurprisingly of course just like Libya having massive oil reserves in Venezuela having the world's largest oil reserves Iran has a lot of oil in there cryptocurrency also came under immediate US sanctions to add to the already crippling US sanctions enforced at the Bank level on Iran now that brings us over to Russia many key sanctions have attacked the Russian oil industry specifically as well as the Russian government's to access the international financial system and of course Russia is also one of the world's biggest producers of oil and natural gas but this is all just a coincidence right it just happens to be some crazy coincidence that some of the world's biggest countries in terms of proven reserves happen to also be America's biggest enemies let's look at the top ten countries in terms of proven oil reserves number one Venezuela number two Saudi Arabia Canada Iran Iraq Kuwait the UAE Russia Libya and the USA well one of those ten countries is the USA five of those countries host American military bases two of them have been attacked and devastated by the United States killing hundreds of thousands in Iraq and tens of thousands in Libya as well as basically turning that country into some kind of dystopian hellhole in three of those countries Venezuela Russia and Iran are all mortal enemies facing continual financial warfare financial tyranny sanctions and threats of regime change but hey we're just talking about coincidences again guys you can't really you know say that one thing is another Saul just a big coincidence not about the oil all right there is a global war happening right now between the world's biggest oil producers Saudi Arabia is like literally straight up taking their their guidance from the game of Thrones and how brutal they are in terms of not only with internal power struggles in the country but how they operate towards other countries driving down the price of oil in order to make other countries go broke there is also a currency war that is attached to the oil war because the dominance of the american petro dollar must reign supreme is there any mistake that the united states the world's richest country the richest country in the history of the world it's absolutely insane that they lag so hopefully behind many other nations in terms of adoption of renewable resources one must question these things these financial wars are deadly sanctions regimes kill especially for the weaker countries in Russia for example haven't seen the sanctions killing people like it has in Venezuela for example and that's according to the UN's own reports that yes indeed the sanctions in Venezuela have had a deadly effect sanctions in Iraq and the 90s had a deadly effect this is financial warfare but it doesn't get presented as financial warfare it gets presented in a serious people doing serious business but that is not the case cutting someone out from the international financial system hurts it has a real world impact we have terribly corrupt governments and we have terrible corrupt organizations which enable these corrupt governments to continue their tyranny playing off of what happened to the venezuelan petrol though russia is looking much more cautiously they don't want to immediately fall under this difficulty like the venezuelan petrol did of being sanctioned even though they are gonna be sanctioned they don't want that to stop the adoption of their petrol coin so Russia is looking to expand its crypto oil project but slowly at first Yussef of said that they would first launch the crypto oil projects in the CIS countries this move would minimize u.s. interference in their plan at the same time at of allow the government to set up a framework first between energy producers and consumers in the CIS region the CIS countries are composed of Azerbaijan Belarus Kazakhstan Kyrgyzstan Armenia all dov'è Russia Tajikistan Uzbekistan and Turkmenistan as an associate state my final thoughts on this whole thing I love the ability to evade sanctions because as you've probably figured out by watching this channel now I am diametrically opposed to financial tyranny in any form and I am particularly opposed to military tyranny in any form so I like the ability of the Russian oil backed coin to evade sanctions but you know what screw oil man seriously in screwrussia soul coin Russia's oil heavy economy has been a big weakness strategically for the country because as the price of oil fell down sort of the government's coffers so did the ability of the average Russian to have a good quality of life it has had dire environmental impacts across the country and has fuelled massive corruption even if it has funded large amounts of social programs within Russia it is time to move to the economy of the future and to ramp up renewables but that's not going to happen with the massive corruption that happens at Gazprom and at the government level in Russia and even though Russia is increasing its investments in renewables it is under five percent of their total energy production compared to the United States which has 18 percent which is crushed by many countries in Europe that have 60 70 or 80 percent of their production coming from renewables corruption of government in Russia along with the massive influence of the oligarchs is keeping the country tied to the energy of the past and it's an absolute shame and a crime against the regular Russian people who need to have a better economy developed for their future anyway just my – so she's on Russia's oil backed cryptocurrency you guys let me know what you think about it down below in the comment section thank you so much for watching today's video as always I love you all don't trust your government guys and if you enjoyed this video leave a thumbs up on it you can subscribe to the channel if you are new around here and of course if you want to know when I put out a new video hit that notification bell down below long live the blockchain and peace out til next time

21 thoughts on “Russia Makes Big Move Via Oil Backed Cryptocurrency”


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  2. Awesome, your politics are smashing ! Latest from all over the news in Greece all the channels keep repeating: “Mr. Bitcoin” going to hospital after 90 days of hunger strike!

  3. Economic sanctions has its roots in siegecraft. No one questions the ethics of sanctions nor understand they usually don't hit the people in government directly. I'm sure they are still well fed while the public gets broadsided.

  4. Thank you Lark for telling it like it is with the global food issues. They are all the same, centralized governments, centralized power and shortages of resources for the rest of us.

  5. Wealthy people buying up any patent that would effect the 1%s pocket books. Don't even get me started on our healthcare system lol- Sincerely, A U.S. Citizen.

  6. Crypto Lark, you nailed the Venezuela/US involvement to a "T". It is ALL about the largest oil fields in the world – NOTHING else !

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