According to an economist, the future of this virtual figure, from Petro, which will last about three months at most, and which will only cause greater problems to the already beaten economy of the country, is not seen as a future. As many of you know, it is not an electronic currency but a new public debt bond. "Creating a currency on oil reserves is no other way than a mechanism to indebt Venezuela. Furthermore, it has not been approved by the National Assembly and that is why it is illegal. I consider this to be "another mechanism to indebt Venezuela. The Petro was created by the regime to obtain resources for the State, but it is only another issue of debt, and we have a totally devalued government "is a black box on all sides", the external debt is very difficult to calculate, and we have a very deep fiscal deficit.
The resources that are captured with the bond called Petro will not be used to address the social crisis, they will be to pay debts to the financial vultures, such as the payment of 90 million dollars for debt services of Pdvsa. The creditors are going to be told that they do not have bolivars, nor euros, and they are going to be paid with Petro, and even information came out saying that the savings banks can be created with Petro, so the workers' money does not they will give it to them, and the State will issue some petros, which will remind us of terrible previous experiences, as it was with the PDVSA bonds, which were baptized as "junk bonds", where many lost more than half of their benefits.
We are before a debt mechanism is a new attack by the government against sovereignty over natural resources, by supporting the issuance of debt with the oil and mining fields but according to the constitution these riches are of the Venezuelan State and are not They can privatize or mortgage. Already the government has been advancing in the denationalization of oil by creating joint ventures with transnationals, and countries such as China and Russia, allowing these transnationals to declare as part of their assets the percentage of deposits they estimate to extract in 35 or 40 years of concessions.
Also with future sales of oil. It is striking that on the one hand the government officially announces the Petro, and on the other hand, someone within the Bitcoin system made a purchase of 334 million dollars, which caused the price of Bitcoin (virtual currency) to rise, and who knows what financial game they are weaving. When oil prices fall, in the hangover there is an international financial siege due to the movement of capital. This world of bitcoin, to give an example moves to the style "SAM", where several meet to collect a certain amount of money and the first one takes it, but in the Bitcoin world nobody knows who takes the money.
It also went to international credit in a disorderly manner, which to this date no one knows how much the country was being indebted, besides all the savings funds were exhausted, and even the international reserves, which as PDVSA are bankrupt, that the basic companies of Guayana, the external debt is very difficult to calculate.
I consider that, like the bolivar, this cryptocurrency can be "devalued".
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https://cointelegraph.com/images/725_Ly9jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy82N2FlOTE
"Cryptocurrencies are a mechanism of speculation because they do not have a backing, so you have to have good judgment when investing in them. Creating a currency based on oil reserves is a way of indebting the country, the petro can be devalued because Venezuela does not have "the seriousness of the issuers because we have seen how the Central Bank of Venezuela became the small box of the Government and that does not create confidence ", therefore considers that the implementation of this currency will not change the current situation of the country.
https://www.google.co.ve/search?q=petro+moneda&source=lnms&tbm=isch&sa=X&ved=0ahUKEwiZjoy0rMLZAhVION8KHZvgByUQ_AUICigB&biw=1366&bih=637#imgrc=
Uncertainties about the petro could "cost dear" to the Venezuelan cryptocurrency -
With the announcement of the creation of a cryptocurrency, President Nicolás Maduro surprised public opinion. The strategy emerges as an attempt to end the financial crisis that hits.
Government announces the beginning of the formal pre-sale of the Venezuelan cryptocurrency the petro and I believe for the users that they will have to register in this web page and then follow the instructions to obtain a virtual wallet where the cryptocurrency will be deposited. The Petro will be an instrument for economic stability and fi nancial independence in Venezuela, together with an ambitious and global vision for the creation of an international fi nancial system.
For more information you will find them here:
http://www.noticias24.com/venezuela/noticia/341323/publican-manual-de-compra-del-petro-para-que-sepas-como-adquirir-el-activo-virtual/
https://www.lapatilla.com/site/2018/02/25/el-gobierno-creo-el-petro-para-tratar-de-salir-del-cerco-financiero-afirma-el-economista-oscar-romero
http://www.elnuevoherald.com/noticias/mundo/america-latina/venezuela-es/
I hope this article is useful for the knowledge of the new virtual currency.
Thank you for posting all this information my friend. I was born in Venezuela myself and was disgusted when I heard Maduro was attempting to gain even more of an advantage of the people of the country by creating a state-backed “cryptocurrency” which defies the whole purpose of cryptocurrencies.. I appreciate this! I hope for a better future for Venezuela as soon as possible.
Oddly enough my name is also Henry. 1 R. Lol.