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RE: The Ongoing Crisis in Venezuela and the "Petro Coin" continues!

in #conspiracy4 years ago

The petro is not a cryptocurrency, because the Venezuelan Government, the intention is to support the oil of the country.
Something totally unconstitutional, the Magna Carta itself, establishes that the country's oil wealth and reserves are inalienable, that is, it can not be sold or ceded. In addition, the National Assembly did not approve that decision.
On the other hand, the Government is the one that will control, supervise and establish the price.
Also you can not acquire with the official currency of Venezuela.

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This is very true and the fact that it inalienable will affect business handlings far greater than any President could ever hope to have his voice reach. It is a promise backed by a natural resource which is superseded by a grandfather clause which nullifies it's offering entirely. Thank you for for pointing this out as we were not aware of the laws already put into place which essentially would make this coin a "money-trap" for any who wished to get involved. It sounds like there are new laws which must be passed in order for the coin to maintain any true value and not just the illusion of one. Nice catch!

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