Venezuelan regime getting into bitcoin with ‘petro’ cryptocurrency


TOOK MOST POWERFUL, RICHESTS WEALTHIEST COMPANY IN THE WORLD AND LEFT IT IN SHAMBLES.>>>SPEAKING OF SHAMBLES, VENEZUELA’S NICOLAS MADURO WILL SELL CRYPTOCURRENCY BACKED BY OIL. THE GOVERNMENT CLAIMS 100 MILLION BET TROH DOLLARS WILL BE WORTH $6 BILLION. “BLOOD PROFITS” AUTHOR VANESSA NEUMANN JOINS US. IT SOUND LIKE A CRAZY LONG SHOT. ANY CHANCE OF THIS IS WORKING?>>THAT IS ALL HE HAS LEFT IS CRAZY LONG SHOTS. THE COUNTRY IS FACING 13,000% INFLATION ACCORDING TO IMF IN 2018. THAT IS ONE .5% AN HOUR. HERE ARE THE PROS AND CONS. PEOPLE OF VENEZUELA ARE MINING BITCOIN FOR A LONG TIME TO GET AROUND THE GOVERNMENT, MADURO GOVERNMENT FOR THEM TO TRADE AND TO STORE VALUE AND BUY STUFF IN THIS HYPERINFLATIONARY SCENARIO. WHAT THE PEOPLE OF VENEZUELA DON’TS WANT IS FOR THE MADURO REGIME TO GET THEIR OWN CRYPTOCURRENCY SO THEY CONTINUE INDEBTING THE COUNTRY AND STAY IN POWER. CHARLES: AND IT, AGAIN, THERE IS 1500 CRYPTOCURRENCIES OUT THERE AND IT IS HARD FOR ME TO BELIEVE ANYONE WOULD WANT TO TINKER AROUND WITH THIS ONE, WITH THIS GOVERNMENT HAS TO BE ON THE BRINK OF SOME SORT OF TROUBLE? YOU WONDER WHEN THE ULTIMATE UPRISING WOULD OCCUR. I REMEMBER CHAVEZ ALWAYS RAISING PAY FOR POLICE AND MILITARY SIGNIFICANTLY AND MADURO KEPT THAT PRACTICE GOING BUT HOW LONG CAN THEY KEEP HIM IN POWER?>>YOU BRING UP TWO REALLY EXCELLENT POINTS. SO THE MILITARY IS LITERALLY JUST LEAVING THE COUNTRY, A LOT OF THEM. SOME HAVE BEEN TRYING TO RISE UP. THEY HAVE BEEN CAPTURED AND TORTURED. SOME HAVE GONE OVER THE BORDER, EITHER JOINED INSURGENCIES IN COLOMBIA. SOME JOINED THE COLOMBIA ARMY. THEY KNOW HOW TO WIELD A WEAPON. THEY WANT A PAYCHECK FOR THE MOMENT. YOU HAVE THAT COMPLEXITY. YOU HAVE THE PROBLEM EXACTLIES, DO YOU WANT TO DO BUSINESS WITH THESE GUYS? DO YOU TRUST THE MADURO REGIME? THE ANSWER IS NO. THE U.S. TREASURY DEPARTMENT CAME OUT AND SAID WE CONSIDER THIS SANCTIONABLE OFFENSE BECAUSE AS THE PAST THE SANCTIONS BECAUSE IT’S A DEBT RENEGOTIATION. THEY ALSO TRY TO SET IT UP BECAUSE IT IS ILLEGAL, WAS ILLEGAL ACCORDING TO THEIR OWN LAWS BECAUSE IN VENEZUELAN LAW IN ORDER TO PROTECT NATIONAL SOVEREIGNTY YOU CAN’T GUARRANTY WHAT IS UNDER THE SOIL AS DEBT COLLATERAL. THAT IS WHY THEY TRY TO PUT IT AS BARRELS OF OIL. HERE IS THE OTHER PROBLEM. NOBODY KNOWS HOW BIG VENEZUELA’S DEBT IS REALLY. ALREADY THOSE BARRELS, THEY CAN’T PRODUCE THEM FAST ENOUGH BECAUSE OF COLLAPSING INFRASTRUCTURE AND CHINA OWNS IT ALL. SO IT’S A BAD DEAL. CHARLES: I MEAN OF COURSE WE’RE SEEING REPERCUSSIONS OF KICKING OUT ALL THE WESTERN COMPANIES, PARTICULARLY AMERICAN COMPANIES.>>CORRECT. CHARLES: THEY DON’T HAVE THE SKILLS OR EXPERTISE TO GET TO THE OIL THEY POSSESS.>>THAT’S CORRECT. WHAT WE REALLY NEED IS FOR THE AMERICANS TO COME BACK IN. AND FOR THE RECONSTRUCTION TO BEGIN AND THAT WILL ONLY HAPPEN WHEN THE MADURO REGIME IS OUT. EVERYBODY IS PLACING THEIR BETS THAT WILL HAPPEN SOONER OR LATER. IF WE HAVE ANOTHER UP RISING WITH A LITTLE BIT OF MILITARY BACKING AND THEY DON’T JUST ALL SKEDADDLE OVER THE BORDER, YOU KNOW, LOOKS LIKE THAT WILL HAPPEN SOONER RATHER THAN LATER. CHARLES: RIGHT. YOU KNOW WHAT? THERE HAVE BEEN A WHOLE LOT OF REGIMES IN SOUTH AMERICA OVER THE YEARS THAT LOOKED LIKE THEY HAD AN IRON GRIP AND EVENTUALLY THE PEOPLE DID RISE UP AND PERHAPS THAT WILL HAPPEN. IT WILL HAPPEN THERE BECAUSE MADURO WILL NEVER DO RIGHT THING.

30 thoughts on “Venezuelan regime getting into bitcoin with ‘petro’ cryptocurrency”

  1. Cryptos good! Cryptos backed by any government BAD! Cryptos backed by socialist government CRAZY! DO NOT BUY $PETRO coin…If you do, you are crushing the people while supporting this fat pig maduro marika and his lifestyle. πŸ–•πŸ½πŸ–•πŸ½πŸ–•πŸ½πŸ–•πŸ½πŸ–•πŸ½β€”->Maduro

  2. Venezuela's barberic Maduro regime is not socialism it's communism, VERY DIFFERENT FOLKS!!!! Like here in America there is no real democracy anymore since Woodrow Wilson sold us out. The real term is called Neo liberalism, but the media got our people's wires crossed.

  3. Oh yeah, Venezuela really needs the Americans to rebuild their country. No, the people of Venezuela should rebuild their own country and kick out that regime that would've gotten all the US foreign aid for their own benefit. I hope Venezuela becomes wealthy and prosperous on their own. And they happen to have the most beautiful girls judging by the past Ms Universe paegents. 😍

  4. Come on ppl how many scam have the Venezuela have done doing fake cryppto alot DavorCoinx, pagarex and etc I hope Venezuela burns to the ground for scamming so many people fuck Venezuela and who dislike what I wrote can SUCK ON MY BIG AMERICAN EAGLE USA#1.

  5. Ahahahahahahahahahahah socialist,communist losers…..thats your answer to starvation and crooked oppressive government?….bitcoin? Ahahahahahahahahahahahahahahahahahahahah

  6. I am amused at the way banana republics always have military men in glorious uniforms standing on parade next to politicians, especially in bad times. What, I wonder, do they contribute to economic stability? The poorer the country the more imposing these guys are. What, exactly, is their function?

  7. Ever since Venezuelan bond market failed in November, this was the next sceme. How are you supposed to collect your barrel of oil, WHEN it flops? Forbes and Reuters tells me they owe about 147 Billion to debtors. Before president Nixon, you could go to the bank and get silver for your greenback. It said so on the currency.

  8. the thing with petro. it's already live = impossible now to remove, even if maduro gets taken out. since its backed by oil now. they won't sell the oil, which will drive up costs = no more debt

  9. Tell America to Fox off . They stop ships from coming in with food and trades . And the Venezuela people have to suffer because USA not Venezuela governments . So fuc off

  10. If Venezuela had any sense they would use Cardano or EOS as there official currency, both of these coins are the future. Or if they want to be completely decentralized then they should use Ripple, lol. I am very surprised they did not evaluate the space before using a crap coin like Petro.

  11. everything the US touches turns to shit the US only knows how to steal and destroy welth they owe more all countries combine over 21 trillions.

  12. hmm well not really a free market crypto more like socialist crypto backed by violence? Although rumors of the same for the US dollar "FedCoin?"anyone? Brother can you spare a digital FedDollar?

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