Octubre 22, 2018

Venezuela will issue $5.9bn in oil-backed cryptocurrency — Maduro

09 Enero 2018, 12:18 | Bibiana Flor

Almagro is not the first Latin leader to back a boycott: Argentine President Mauricio Macri supported the measure in an interview with the Financial Times in November, adding that he thought it would have "broad support" across Latin America.

Venezuela is suffering one of the worst economic crises in modern history, one that has forced millions of Venezuelans to eat just once a day and has left supermarkets empty of food. For now, we still have no idea how this currency will be mined exactly.

Sure, invasion is a dirty word in Latin America.

"Venezuelans are dying of hunger and lack of medicines, and Latin America's attitudes are changing", Hausmann replied.

This week oil of Venezuela was costing around $59.07 per barrel. What's more, as Miami Herald columnist Andres Oppenheimer argues, Venezuela already has been invaded by a foreign power, Cuba, which runs everything in that country.

"Real leadership", he added, "means no cheating, no presuming and no accusing in vain to cover up other deficiencies". The next round of dialogue is set to take place between Jan. 11-12 in the Caribbean nation.

Petro could be a way to circumvent U.S. sanctions which have raised the annual inflation rate to over 1000 percent.

The government plans to support each Petro token by a barrel of oil. This number is not chosen randomly either Instead, it is based on national wealth. "There is nothing worse than this".

Maduro says the cryptocurrency will usher in the "21st century" and boost Venezuela's access to hard currency. Watch the Chavistas scream. The petro is backed by the country's oil, diamond and gold reserves.

While speaking at a meeting with his ministers on a broadcast on state television, President Nicolas said that the Petro will be backed by 5 billion barrels in the Ayacucho block of the Orinoco Oil Belt.

Ricardo Hausmann is no typical academic. An interesting decision, considering the whitepaper has yet to be revealed.

It would appear the first batch of Petro coins will be issued soon. "Venezuela's tragedy is so serious, and is deteriorating so rapidly, that awareness of its gravity is rising across the region".

Despite being rich in oil resources, Venezuela's ability to capitalize on its reserves has faltered due to sanctions imposed by the Trump administration.

Venezuela is strapped for cash, so President Nicolás Maduro is turning to cryptocurrency. They are a popular landing site for Venezuelans fleeing the country's food shortages.

Otras noticias

Tendencias Ahora

USC running back Ronald Jones to enter 2018 NFL draft
Jones had a great season out west for the Trojans but was overshadowed by Stanford running back Bryce Love's excellence. And if the Browns trade out of the first pick and wind up with, then it will be time to disband the franchise.

All iPhones and iPads affected by Meltdown and Spectre, says Apple
IDC estimated that there are 1.5bn PCs in use around the world today, out of which 90pc are powered by Intel processors . Both vulnerabilities require an attacker to be able to run their code on the device they are attacking...

Jamie Carragher explains why Manchester City are ahead of Manchester United
But by the end of August, around the time the transfer window closed, Guardiola finally decided that enough was enough. However, Guardiola highlighted defender Nicolas Otamendi's contributions as the key reason for their recent success.

The Latest: IS supports Iranian anti-government protests
In the meantime, "luxury shopping malls have mushroomed all over Tehran" and "the poor man is regarded as a failure and burden". And with lightning speed, numerous slogans against Supreme Leader Ali Khamenei began to spread through the social networks.

People queue for a copy of controversial Trump book — Fire and Fury
But the fact that it's plausible that such craziness happened should be concerning, he said. "It's disgraceful and laughable", Sanders said.

House must re-vote on tax reform because of errors
McClintock's suburban Sacramento and rural Sierra Nevada district isn't expected to see as big of a hit from the lost deductions. John Cornyn's tweet on Tuesday exemplifies how Republicans have forgotten how to talk about middle-class tax cuts.

IS supports Iranian anti-government protests — The Latest
Further, the organisers of the Green Movement told NPR that they were completely taken by surprise by the current protests. Many of them are watching what has been unfolding across the country over the past week with surprise and some wariness.

New Blue Jays infielder Yangervis Solarte — Person of Interest
While the free agent market continues to be at a standstill, the Toronto Blue Jays and San Diego Padres were involved in a trade. There would be growing pains and a period of transition defensively, but you can't afford to lose what he brings to the lineup.

Have You Patched Flaws in Your Microprocessor Chips — New Business Risk
But the whole episode still sucks for admins, who now need to look at their environments from top to bottom for security issues. The company hasn't released an official statement yet but a spokesman said that the company is working hard to solve the issue.

Match Preview: Liverpool vs Leicester City
Tricky matches against Manchester City and Manchester United didn't help, but a 2-1 loss to Watford would have been disappointing. It makes Van Dijk, who has fewer than 20 international caps to his name, the most expensive defender in football history.