OPEC member Venezuela will be launching a state reserve backed cryptocurrency called Petro. It will be backed by over 5 billion barrels of oil. Other reserves will also be used such as gold, gas, and diamonds. Can this be a way out against US-led international political and economic sanctions?
The Venezuelan bolivar is practically worthless. A 100,000 bolivar note was issued which is only worth $1.00...will Venezuela be able to enter back into the global economy and uplift the country from economic ruins caused by crippling recession and rampant corruption?
yeah it would prove to be a good initiative to grow their economy... Thanx for sharing dear... I never knew that bolivar's price is so low...
you're welcome...that's the curse of US sanctions!
Yeah you are right to some extent.... But its mostly effected by their own politicians... The war between different political parties and politicians led Venezuela to this situation... And these all are backed by US...
same story in most third-world countries
yap they are trying to do it with every country ... coz you know US wants its royalty to last longer all over the world for ever... Now they are ruling the world and they want this rule forever...