Tuesday, December 5, 2017

Maduro introduces Venezuelan cryptocurrency

Venezuela's plans to issue a cryptocurrency are an early warning of an attack on the Western-dominated global financial system.…
The kicker.
To keep its dominant role in the global financial system, the West is essentially interested in holding back progress. That, perhaps more than anything else, gives non-Western powers, including rogue ones, a potential technological advantage born of strong incentive.…
Good luck with holding back progress.


also

The Duran

5 comments:

André said...

Even Maduro is taking advantage of the cryptocurrency hype. Too much hype for nothing. Just propanda.

What did he really propose? Nothing. He did not give a single detail. We simply have no ideia what he thinks he is doing, and history has shown us that he does not handle the economy very well.

How will he prevent sanctions? Cryptocurrency or not, US companies will still be supervised and inspected by the US government.

I am sure that the so called Petron will not be a cryptocurrency. Maybe it will be a commodity backed currency, with all problems that we MMTers know.

This guy is crazy. I don't know how people can call "progress" that kind of step back...

Matt Franko said...

The libertarians love this bitcoin stuff...

Kaivey said...

They think the government can't collect taxes in bitcoin so it will end the government. Do they actually believe that "big bad government" is going to let them get away with it?

Tom Hickey said...

They think the government can't collect taxes in bitcoin so it will end the government. Do they actually believe that "big bad government" is going to let them get away with it?

When I was living in Mendocino County in Northern California, where pot-growing was permitted on a limited basis (no big farm run by Mexican gangs) the Ukiah newspaper ran a headline that at local grower had been arrested. However, the first line of the lede was the sheriff saying, "We didn't arrest him for growing but for not paying his taxes." Talk about sending a message. Expect the feds to do the same in the case of bitcoin gains.

Noah Way said...

Al Capone was busted for tax evasion.