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Venezuela Forcibly Converts Pensions into Petro

bitcoinerx.com

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Re: Venezuela Forcibly Converts Pensions into Petro

#13

Post by jetrink »

buboard wrote: post #8

Is petro in exchanges outside VZ? This just seems like a move to put the blame for the inevitable crash of this fiat cryptocurrency to "the bad bitcoin market".

It was Maduro who launched the currency and if it fails, it will be his failure. More likely, they are trying to recreate the URV[1] that Brazil used to get inflation under control.

1. https://www.npr.org/sections/money/2010/10/04/130329523/how-...

Re: Venezuela Forcibly Converts Pensions into Petro

#14

Post by shaki-dora »

This is going to be fun! From what I can pick up as (sometimes less than) subtle signalling from the crypto crowd, they tend towards a worldview somewhere between libertarian and alt-right on the spectrum, and Venezuela occupies that sweet spot of placing itself squarely opposite, and being terrible at, well, everything.

Matt Levine has sporadically covered this particularly folly, and it's well worth it: https://www.google.com/search?client=safari&rls=en&q=matt+le... (spoiler alert: he reveals everything up and including next year's season finale "Nope, that didn't work. Why did we ever think it would? Now, what shall we do about that Brazilian army trying to 'liberate' us?")

Re: Venezuela Forcibly Converts Pensions into Petro

#15

Post by jsty »

celticninja wrote: post #3
pjc50 wrote: post #2

Does anyone have a mainstream news link to this? I don't trust coin-related news sites not to be involved in hyping things.

I cant find one, the Fiancial Times have covered Venezuela and petro in the past and they have no mention of it. Looks like BS to me based on one line in what appears to be a financial statement/email.

They've reported on the switch to the 'new Bolivar' [1], which has an official conversion to the Petro. So the Venezuelan government might well just now be switching to issuing new Bolivars, and reporting their value in Petros (I can't say why this would make any particular sense, except perhaps to make the distinction from old Bolivars clear).

[1] https://www.ft.com/content/7e19a908-a48c-11e8-8ecf-a7ae1beff...

Re: Venezuela Forcibly Converts Pensions into Petro

#16

Post by talltimtom »

anoncoward111 wrote: post #12

In a world where you work your whole life in exchange for promised lifetime income and all you get is Venezuelan Crypto Kitties

A government backed crypto currency is essentially just a different type of digital currency. If petro is more stable than bolivar, i would think people would prefer it, as long as conversions are simple.

Re: Venezuela Forcibly Converts Pensions into Petro

#18

Post by lustysocietyorg »

This spiteful article is probably part of the US war campaign against Venezuela.

Leftist Debunks John Oliver's Venezuela Episode https://www.youtube.com/watch?v=_fV-C1Ag5sI

A Brief History of U.S. Dirty Wars in Central America That Set the Stage for the Refugee Crisis https://www.youtube.com/watch?v=HBJpykHbbYI

US Senator Rubio pushes for Venezuela to be placed on US state terrorism sponsors list – report https://www.rt.com/usa/444420-us-venezuela-terror-sponsor/

‘Bolton is preparing plan for my assassination, with help from Bogota’ – Venezuela’s Maduro https://www.rt.com/news/446316-maduro-assassination-bolton-v...

Besides US agents are involved in the media secretly and openly (CNN, Fox News,... promoting the conspiracy and lie that should justify the publically well known war e.g. Vietnam, Yugoslavia, Iraq, Libya, Syria).

What western media company is outraged regarding the situation of journalist Julian Assange ?

The Guardian/Politico Psyop Against WikiLeaks https://consortiumnews.com/2018/12/01/the-guardian-politico-...

Besides: This comment might be my last comment on HN because I can not create replies because I am posting too fast according to HN.

Re: Venezuela Forcibly Converts Pensions into Petro

#19

Post by geezerjay »

lustysocietyorg wrote: post #18

This spiteful article is probably part of the US war campaign against Venezuela. Leftist Debunks John Oliver's Venezuela Episode https://www.youtube.com/watch?v=_fV-C1Ag5sI A Brief History of U.S. Dirty Wars in Central America That Set the Stage for the Refugee Crisis https://www.youtube.com/watch?v=HBJpykHbbYI US Senator Rubio pushes for Venezuela to be placed on US state terrorism sponsors list – report https://www…

> This article is probably part of the US war campaign against Venezuela.

What is that even supposed to mean?

Besides the tin-foily nature of the baseless assertion, not to mention the hefty dose of weasel words, has the Maduro regime forced the conversion or not?

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