Zero Hedge — “The Petro Is Born Today” – Maduro Launches Oil-Backed Crypto “For The Welfare Of Venezuela”

Summary:
More than two months after Venezuelan President Nicolas Maduro announced his intention to launch the world's first state-sponsored cryptocurrency to try and help Venezuela raise some badly needed foreign capital, the Petro - backed by 5 billion barrels of oil that are still waiting to be pumped out of a local oilfield - is now a reality.... To fuel demand, the government guarantees that it will accept the Petro as payment for taxes and fees. It has also said it will seek to promote the Petro abroad.... Zero Hedge "The Petro Is Born Today" - Maduro Launches Oil-Backed Crypto "For The Welfare Of Venezuela" Tyler DurdenSee also at ZH Desperation.Why Washington Struck Russian Contractors In Syria Nauman Sadiq is an Islamabad-based attorney, columnist and geopolitical analyst focused on

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Mike Norman considers the following as important: cryptocurrency, oil-backed currency, Venezuela, Venezuelan petro

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