Posted on 08/17/2018 1:56:12 AM PDT by Ciaphas Cain
They will start using the Petro in the next several weeks. Oil backed crypto currency.
That will be fun to watch.
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There seems to be some serious doubts to whether the Petro is actually backed by oil:
Excerpt from first link:
But the cryptocurrency has come under fire from some observers who say there is a lack of detail on exactly how its value will be guaranteed by oil reserves.
Rating site ICOindex.com has branded Petro as a “scam”, warning potential investors there is a worrying lack of information on how the digital token will work.
Venezuela used to be a nice place to live. Ask the US-born baseball players that went to winter ball there. They used to take their kids.
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I’m going by what Venezuelans who came to America many years ago have told me.
Winter baseball players were visitors and didn’t have the same experience as the average person born and living there.
You’d be stuck with a ton of bolivars when they change over to the chavez.
i figured that may be the case. just math wise i’m thinking that if the currency rises at all there could be some money to be made. this is why i’m not a business man i guess.
The Venezuelan bolivar will not go up. What usually happens is a new currency is introduced which replaces the old. The new currency then rapidly goes down. The old currency is demonetized. The current currency, the bolivar, will only have value as a curiosity, like the 100 trillion dollar Zimbabwe note.
You would make more money collecting toilet paper.
Some enterprising company needs to begin to manufacture zeroes to export to Venezuela.
In an effort to lose weight, I’m going to measure my intake in kilocalories instead of calories. Instead of ingesting 2,800 calories per day, I’ll be taking in 2.8 kilocalories. The pounds are going to melt off a lot faster with those pesky zeroes zapped!
Take half your money and by BitCoin. With the other half, buy Venezuelan Bolivars. Get back to us in a year. And don’t forget to give us your GoFundMe account name when you do.
His REAL name is Nicholas Manure-o.
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