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Trump Bans Venezuela's New National Cryptocurrency (cnbc.com)
An anonymous reader quotes a report from CNBC: President Donald Trump issued an executive order Monday banning any transactions within the United States involving any digital currency issued by, for, or on behalf of the Government of Venezuela. The order applies to U.S. citizens as well as anyone within the United States, and includes cryptocurrency issued on or after January 9. President Trump's order is in response to recent attempts by Venezuelan President Nicolas Maduro's regime to "circumvent U.S. sanctions by issuing a digital currency," the White House said in a statement. Venezuela launched its oil-backed cryptocurrency in February to help pull the country out of a continuing economic crisis. President Maduro said each petro token will be backed by one barrel of the state's national petroleum. Maduro also said roughly 100 million tokens would be issued -- estimated to be worth around $6 billion. Bitcoin prices dropped about $200 to around $8,388, according to Coinbase, following the order.
It's all about currency control by his fellow swamp dwellers. this time, the banks.
Have the authority to do this? Like Obama the executive branch keeps getting more and more audacious with these executive orders.
Russia attacked a NATO country and Donald Trump is still sucking Vladimir Putin's dick.
Lock this traitor up right fucking now.
The US issued sanctions as a result of the polonium assassination, it might issue more in response to this.
This particular action is in response to Venezuela's attempt to circumvent existing sanctions.
He meant all kryptokurrency, not just Venezualas.
This is retarded. "Banning" cryptocurrency is akin to trying to ban Math. Yeah, good luck with that.
Hypothetical: So if I "own" Venezuelan cryptocoin will I be hauled off to jail ???
Hypothetical: If I leave the U.S., say go visit Canada, can I then "buy" Venezuelan cryptocoins?
Trump's new sanctions he announced last week aren't enough.
Catch up idiot. Try to read more and run your mouth less.
If someone can correct me if I'm wrong, but as I understood from a previous article, the Venezuelan government is not allowed to issue debt on their oil by even their own laws. But by issuing cryptocurrency it is essentially selling notes exchangeable for oil they can't provide (so basically debt). That is an interesting thought about what cryptocurrency is really. We know regular currency is basically debt exchangeable for goods, so cryptocurrency is the same but where is the value of crytocurrency coming from? Basically all large companies stopped accepting bitcoin and even dark markets are switching their coin from bitcoin because it is too traceable.. I just don't see how bitcoin is even maintaining it's current price because if you can't buy anything with it then what use is it? I guess does anyone know what you can still buy with bitcoin?
Cryptocurrency was designed for freedom for everyone, including people you disagree with. It's like the first and second amendment but for money.
Maduro tries to make Venezuela Great First and Again!
Mexico could or not could pay the Walls in BitCoins!!!.
Have you seen what socialism has done to Venezuela, a country with vast energy natural resources per capita?
This is not a knee-jerk reaction.
Buy yourself a ticket and go fight Vlad yourself, you fuck.
No more wars for oil.
'Nuf Said
Fuck you, you fuck. We'll send you and all the other traitors.
To a government who calls you Satan? OK. BuhBye.
Why guess when you can know? Measure!
Sargon does a good job of explaining the current status of Venezuela. If you're smart you won't buy their crypto.
https://www.youtube.com/watch?v=fNjtpksJD4s&t=386s
Bitcoin prices dropped about $200 to around $8,388, according to Coinbase, following the order.
Bitcoin prices fell way more than that the day before, because someone farted in a trading room I assume. And now they are going back up. This stuff's really volatile, a $200 price change is just noise.
If construction was anything like programming, an incorrectly fitted lock would bring down the entire building...
A project that sprang from a motivation to eliminate the ability for central bankers to arbitrarily print money (by transferring the function of money creation to "the people") becomes the very tool used to facilitate it. Shockingly, It turns out that governments are members of the set called "the people." /s
Breaking News, Trump bans fake currency that nobody uses. Declairs success.
A long while ago, the USoA congress made a law that allowed the executive branch to take special meassures and granted it special powers in case a country was a "threat to USoA security".
Lord Obama declared Venezuela an "unnusual threat", and even renewed the declaration one year latter, just before Lord Trump's Inauguration.
Lord Trump renewed it once more.
But, what lord trump is telling you is to use your money as you see fit EXCEPT in aiding threats to national security. Just as you are supposed NOT to spend your money on goods sold by ISIS, you are not supposed to buy Venezuelan bonds, including the petro.
But is as well, the petro is a giant scam, in this particular case, Lord Trump is doing you a favour.
*** Suerte a todos y Feliz dia!
That word doesn't apply the way you think it does.
It little behooves the best of us to comment on the rest of us.
In Korea, only old people use oil.
Our mecha all run on atomic isomer batteries and shoot unicorn farts
on Venezuela while we help the Saudi's bomb Yemen? I get that they're government is sketchy, but we support something like 80% of the world's dictatorships. If we're trying to take the high ground on Democracy that boat has sailed, circumnavigated the globe and returned laden with exotic spice (joke shamelessly stolen from Yatzee of Zero Punctuation fame)
Hi! I make Firefox Plug-ins. Check 'em out @ https://addons.mozilla.org/en-US/firefox/addon/youtube-mp3-podcaster/
I've never had any interest in Venezuela's ?crypto coin?. I'm not even really sure you can call it that, but in any event. The thing it really does is enable Venezulea's flawed socialist policies to survive and live another day. It's really just a means of getting around the unconscionable embargoes.
Can you point to a socialist society that works well? (one where they are actually socialist, in action, not just name)
Browsing at +1 - no ACs, I ignore their posts. So refreshing!
Childrens lives threatened by gun violence..
Foreign manipulation of elections..
Healthcare..
NOPE... it's Venezuela!
LOLWUT!?!
you meant "have you seen what happens to a country that so badly managed and is corrupt". The fact it has natural resources to exploit and is still an economic failure has nothing to do with "socialism", its because of unadulterated greed and avarice. You know, the same problems all western society countries have. with 'murika leading the way downhill.
You mean the one where one in four Americans is on the Internet constantly and faces total job loss in ten years?
Yeah! Schoolin' dem retards will fix dat!
First they ignore you, then they laugh at you, then they fight you, then you win. - Gandhi
My ism, it's full of beliefs.
Norway, Sweden, Finland. Germany, France, and Italy have socialist tendencies as well. Unchecked corporate greed gets you 'murika which is demonstrably bad for most.
Only I can judge you.
"Buy yourself a ticket and go fight Vlad yourself, you fuck."
You do realize that anyone doing this would automatically be committing an act of war on behalf of their home country, yes?
Still waiting on Serviscope_minor to wake up to fucking reality and realize that Jessica Price isn't going to fuck him.
Capitalist economies with strong social nets (in particular, it's called the which is a free market, capitalistic economy with a strong social net. Same thing for Germany, etc. They are NOT socialist countries, which is "characterised by social ownership and democratic control of the means of production".
Browsing at +1 - no ACs, I ignore their posts. So refreshing!
Breaking News, Trump bans fake currency that nobody uses. Declairs success.
Update: Trump denies any ties with campaign contributors who made a killing investing in a fake currency nobody had heard of before he talked about it and it's value doubled overnight.
B) Eliminate all the stupid users. This is frowned upon by society.
Venezuela has enough problems already: leave them alone. The world is full of dictators, why focus on them?
Table-ized A.I.
The sanctions obama put on venezuela banned their crypto currency.
Trump is just pointing it out again because everyone is fucking stupid and think 'internet' makes this different somehow and the rules don't apply.
Why is he trying to double the amount of EO's Obama wrote
Still catching up to the Chinese crypto bans. Is there nothing you won't copy from them?
Khyber, international law is not your forté. The actions of a single private citizen, acting on their own initiative, would simply be criminal. The definition of "act of war" is pretty loose, but generally one does need a reason to pin the violence on the government. Legally, a casus belli is also supposed to be a last resort, and it's kinda tough to imagine any individual making Russia say, "We can't even with this guy, we need to declare war on the US just to kill him." If you want to go to war, you're expected to either try some other ways to resolve your issues, or at least to make a good show of doing so, and Putin is too busy giggling like a schoolgirl over the success of his schemes to do any such thing.
Corporate whores sure love their propaganda. Hard to know where to start with this crowd. Corporate whore war profiteer world bank cocksucking going on across both aisles while they scream their favorite false narratives at each other.
Russia attacked a NATO country and Donald Trump is still sucking Vladimir Putin's dick.
I suggest you join the Army.
"The average reporter we talk to is 27 years old......They literally know nothing." - Ben Rhodes
Can you point to a socialist society that works well? (one where they are actually socialist, in action, not just name)
I smell a no true Scotsmen excuse coming....
Even the USA can be defined as half-socialist since you have many public services funded by the state.
And before you respond with your lame ass excuse, Soviet Russia was never 100% socialist, nor has the US ever been 100% capitalist. All countries exist somewhere in the middle, with the most successful, highest quality of life ones (North Western Europe, Canada, Australia, New Zealand etc) being socialist leaning.
No true Scotsman! I claim my 50 cents...
So why do all those countries do business outside their countries to avoid high tax rates and employee salaries?
Can you point to a socialist one that doesn't...
Fascist regimes can also be corrupt. Socialism in itself (whether that word really applies to Venezuela or not) isn't the problem.
The main problem is an authoritarian regime intent to keep control by any means, illegally enriching supporters and punishing others.
For some it's part of a magical incantation... Others use other "strong words" without knowing the meaning of them, fascist is a popular one.
So for you socialism is only the end-stage of Marxism? Hilarious!
It'd be a war to help a US ally illegally invaded by Russia and as a check on recent Russian aggression including the use of nerve gas on British (an ally of ours) citizens. Your hostility and attempt to deflect the underlying reason for military action suggests you're politically motivated. Tell me, do you like Vodka and beating women and driving on your nation's sidewalks?
It's true cause your still in tears over the election?
You morons are the sole reason Trump won, rage more please rage more it's comedy gold.
Venezuela is doing a number of things right. The cryptocurrency is one of them. Of course, the real reason why Trump dislikes Venezuela is the fact that several years ago, they enacted a countrywide gun ban on civilian ownership of firearms and ammo. Violent crime has gone down to 1/1000 of the levels before the ban was passed.
Of course, they are being punished for this. Wonder why? No wonder why the NRA is equal to the KKK with the protest chants these days.
It’s this kind of mature and thoughtful dialog that keeps me coming back. Thanks!
Never discuss politics with an American.
They'll tell you that Socialism is Communism; Communism is Fascism; Fascism is Democracy; And, that Democracy is Mercantilism.
"The actions of a single private citizen, acting on their own initiative, would simply be criminal."
Not directly against Vlad or any other world leader, it would not be. Please try again when you've got the context actually locked down.
Still waiting on Serviscope_minor to wake up to fucking reality and realize that Jessica Price isn't going to fuck him.
Can you point to a socialist society that works well? (one where they are actually socialist, in action, not just name)
I smell a no true Scotsmen excuse coming....
Even the USA can be defined as half-socialist since you have many public services funded by the state.
False. Socialism, by definition, means the workers control the means of production. This primarily applies to family owned businesses in the US, which is nowhere near half- of anything. There are a few corporations here and there that actually are worker owned as well, but overall neither of these is significant in the economy.
If you see a small animal that eats mice, do you call it a duck? Or do you call it a cat? Definitions are important if you want to communicate effectively.
All countries exist somewhere in the middle, with the most successful, highest quality of life ones (North Western Europe, Canada, Australia, New Zealand etc) being socialist leaning.
For some reason, the educational systems in the EU are unable to teach their students the difference between socialism and capitalism, or to understand the importance of getting the meaning of words right. Perhaps because it's not a question on the tests.
In any event, you get a lot of EU folks claiming that states such as Norway, Sweden, Finland. Germany, France, and Italy are socialist. It's not true for any of them: they all have some share of their economy in family owned businesses, of course, and probably some worker owned corporations, but that share is not significant enough to call these states socialist or even socialist leaning. They are cats, not ducks.
Norway actually comes the closest in terms of economically significant measures, but that's because the North Sea Oil is owned on behalf of every citizen - and that's a huge component of Norway's GDP (30%). If you take that out of the equation as historical anomaly, the rest of the society is not particularly socialist.
Having a strong, well-run welfare system does not make a state socialist: welfare historically existed in many societies for centuries before the word socialism was even coined. All of the states in the list above - and the USA - are correctly described as capitalist welfare states, meaning that capitalism is used to pay for a fairly large welfare system.
The big differences between countries (from an economics perspective) lie in how much corruption and unethical practice of law they tolerate getting in the way of having a well-run welfare system. EU nations have plenty of corruption, but not absurd amounts.
The USA, on the other hand, is willing to tolerate absurd amounts of corruption at higher levels in the government (not so much at lower levels - less than some EU nations). The USA is also willing to tolerate absurd levels of unethical practice of law - the phrase "Land of the Lawsuit" doesn't even begin to describe the full scope of the legal ethics problem, or the enormous negative economic impact it has. See "The Captured Economy" for more details.
Hence the USA has a terrible welfare system (including health care), it does a very poor job of taking care of people, and has massive over-concentration of wealth.
Disparity of wealth is not a bad thing (incentives are important, witness the economic changes in the former Eastern Block states, China, and India since they all finally recognized this), but it can be taken too far - especially when taken across generations. Progressive taxes help a lot in creating a healthy economy over the long term - but only if the tax system isn't riddled with loopholes (one of the many consequences of tolerating unethical practice of law - the lawyers have a vested interest in writing/implementing/maintaining very complex laws as that creates an artificial demand for the services of their profession - and complex lots create lots of places to hide loopholes).
I'm going by what Wikipedia defines as socialism: "The economic and social systems characterised by social ownership and democratic control of the means of production". That doesn't sound like what happens in Scandinavia, does it? Do the people own all production, and there is a democratic control of that production? No?
Browsing at +1 - no ACs, I ignore their posts. So refreshing!
Till China bans Venezuela's Cryptocurrency
Casteism