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Montevideo, December 18th 2018 - 11:35 UTC
A “pre-sale” of Venezuela’s new ‘petro’ cryptocurrency will begin on February 20, President Nicolas Maduro said on Tuesday, a move that the government hopes will help pull the country out of a dire economic crisis. Read full article
The International Monetary Fund (IMF) projects 2018 the year Venezuela reaches 13,000% inflation. Half of its economy has vanished as it approaches a third annual double digit contraction. This ruse will result in an additional disaster for Maduro.
I feel so sad for the people there.
It will become known as ”craptocurrency'.....only as good as the crap that backs it.
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