A crypto news site, talking against crypto.
Centralized crypto is no different from any kind of fiat. Obviously the website is not about fiats.
I am pretty sure a crypto news website is all about generating real money from nothing.
Venezuela Forcibly Converts Pensions into Petro
31–39 of 39 posts
Re: Venezuela Forcibly Converts Pensions into Petro
#32Re: Venezuela Forcibly Converts Pensions into Petro
#33[flagged]
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Corbyn described Chavez as socialist, not Maduro.
Maduro has undone the "socialist" stuff that Chavez had more or less enhanced like free healthcare and free education.
Maduro certainly labels himself as socialist but, living in Venezuela, I can't identify any socialist policies going on.
Re: Venezuela Forcibly Converts Pensions into Petro
#34Is 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-...
But the URV was only part of the Real plan, though it was the most visible part. There were other equally important measures, Wikipedia has a summary (https://pt.wikipedia.org/wiki/Plano_Real#Principais_medidas):
- Limiting price adjustments to once a year;
- Privatizations;
- Reducing government spending and increasing taxes;
- Reducing import taxes and making imports easier;
- Interventions in the exchange rate;
- Increasing the central bank interest rate.Re: Venezuela Forcibly Converts Pensions into Petro
#35Living in Venezuela:
After more than a year of official announcements about the petro, nobody knows what it is, nobody has ever bought, sold, owned nor seen one.
Some people have sent other crypto to some sort of pre-sale, but never got anything back.
I don't know what is the petro, but it hardly exists and it is certainly not a cryptocurrency.
Re: Venezuela Forcibly Converts Pensions into Petro
#36Earlier quoted context omitted.
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Corbyn described Chavez as socialist, not Maduro. Maduro has undone the "socialist" stuff that Chavez had more or less enhanced like free healthcare and free education. Maduro certainly labels himself as socialist but, living in Venezuela, I can't identify any socialist policies going on.
Still lots of support for Maduro from Corbyn and his team.
https://blogs.spectator.co.uk/2018/05/fact-check-corbynista-...
Re: Venezuela Forcibly Converts Pensions into Petro
#37Earlier quoted context omitted.
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I'm not even trying to get into the "true socialism" debate, but what they are trying to refer to is dictatorial policies, not socialist policies.
I would tend to agree with you. What was state socialism has evolved into totalitarian dictatorship.
In fairness, pretty much every state socialist regime has, fairly quickly, evolved into a totalitarian dictatorship so it shouldn't be a surprise to anyone.
It's clear that Marx was right in the sense that societies evolve, but wrong in that state socialism evolves to communism: it clearly doesn't. It's why I find intelligent people advocating for socialism to be particularly heinous. What they are, effectively, advocating for is totalitarianism.
Re: Venezuela Forcibly Converts Pensions into Petro
#38In a world where you work your whole life in exchange for promised lifetime income and all you get is Venezuelan Crypto Kitties
Yes, bring back the gold standard.
Re: Venezuela Forcibly Converts Pensions into Petro
#39In 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.
Conversion rates precisely controlled by the government?
I think some people have great (and not fond) memories of that in Poland since 50s till 1993... Only the final phase worked somewhat.