Venezuela president Nicolas Maduro began looking at the digital world to circumvent US-led financial sanctions, announcing on Sunday the launch of oil-backed "petro" to shore up a collapsed economy. "Venezuela is creating a digital currency backed by oil, gas, gold and diamonds," he said, adding that the currency would help Venezuela "advance on issues of monetary sovereignty, carry out financial operations and overcome the financial blockade."
I wish president Maduro luck with this program and if done I will invest in them not for profit so much as to help the people of Venezuela. I believe anytime any State wants to assert independence from the central bank they are seen as problematic to the central banks. And as the banks are the real governors of the United States and the media, they can look forward to being sanctioned. Also having their currency back by something real also makes it easier for me to fall in line.
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