Skip to main content

CryptoCurrency epidemic: more countries consider alternatives against dollar domination tyranny


We estimated recently that entire countries may choose to jump into a decentralized financial system flooded by CryptoCurrencies, in order to escape from the monopoly of the Western hard currencies.

 Image result for cryptocurrency

Less than two months later, it was the turn of Venezuela to announce that is considering to issue its own CryptoCurrency. As MintPressNews reports:

Months after Russia became the first country to announce the creation of a state-backed Cryptorouble, Venezuela has followed suit, announcing the creation of El Petro, a state-sanctioned cryptocurrency to be backed by Venezuela’s extensive reserves of crude oil.

Venezuela has already broken free of Dollar dependence months ago when Caracas announced it would be trading its oil using China’s Petroyuan. Venezuelan President Nicolas Maduro also stated that he would like to begin trade with Russia in the Rouble. With Venezuela heavily sanctioned by the United States, El Petro looks to be another tool which Venezuela can use to continue and conduct international commerce without relying on Dollar based financial institution.

Crucially, while existing Cryptocurrencies tend to create their initial value through an arithmetic process called “mining”, leaving them heavily subject to market fluctuation, El Petro will be backed by a known commodity, oil, thus giving it a clear advantage for risk-averse investors. While the world’s most popular cryptocurrency Bitcoin, has seen its value skyrocket against the Dollar, some remain unconvinced of its long-term prospects for stability. A currency, backed by oil would, by contrast, ostensibly fluctuate in accordance with the well established global price of Brent Crude.

[...]

An official oil-backed cryptocurrency could work in tandem with Russia’s soon to be launched Cryptorouble, a digital currency which will ostensibly be backed by the vast resources of the Russian state. With western governments ambivalent about how to treat existing cryptocurrencies, Russia and Venezuela have taken the lead to both normalize cryptos while backing them by well-known assets.

More countries are expected to follow the example of Russia and Venezuela, or BRICS as a whole. An interesting case is Greece. Many in Greece are considering Bitcoin and other alternative currencies as a solution against the monetary dictatorship of the ECB.

Recall that, while Greece was the major victim of an economic war, Germany used its economic power and control of the European Central Bank to impose unprecedented austerity, sado-monetarism and neoliberal destruction through silent financial coups in Ireland, Italy and Cyprus. The Greek political establishment collapsed with the rise of SYRIZA in power, and the ECB was forced to proceed in an open financial coup against Greece when the current PM, Alexis Tsipras, decided to conduct a referendum on the catastrophic measures imposed by the ECB, IMF and the European Commission, through which the Greek people clearly rejected these measures, despite the propaganda of terror inside and outside Greece. Due to the direct threat from Mario Draghi and the ECB, who actually threatened to cut liquidity sinking Greece into a financial chaos, Tsipras finally forced to retreat, signing another catastrophic memorandum.

Under a really open-minded government that will seek to liberate Greece from the ECB dictatorship, Greece may become the next country that will choose to abandon euro currency sado-monetarism through its own CryptoCurrency. This will also permit Greece to find an alternative on the rapidly growing market led by BRICS. Under similar circumstances, the entire European periphery may follow. Countries who also suffer from the euro sado-monetary prison, like Portugal, Spain, Italy and Ireland could issue their own CryptoCurrencies in order to escape from the euro-tyranny.

But the CryptoCurrency alternative could be used by the eurozone countries also as a backup plan against a potential collapse of the rotten eurozone structure in the close future.

Again, the CryptoMarket anarchists have nothing to fear. A CryptoCurrency issued by BRICS, or some member-states, or even other countries separately, will not be a threat for the decentralized nature of the rest of CryptoCurrencies. On the contrary, it will give them a significantly wider field and greater opportunities for all kinds of transactions inside a dynamically growing economic bloc which, if nothing else, does not rely on wars and destruction to maintain its dominance.

However, authorities should not exhibit excessive control on certain issues. There should be a viable balance between free activity and regulation. Russia already works to regulate virtual currencies:

As the Russian government is working on laws to regulate virtual currencies, the country's finance ministry has proposed making their mining illegal. However, buying them will not be punishable.

"The penalties will be different, mostly administrative, but if someone created the cryptocurrency for the purpose of settlements, then there will be a criminal punishment," said Deputy Finance Minister Aleksey Moiseev.

Criminal penalties can also be applied to the creation of a financial pyramid or the issuance of a cryptocurrency to avoid tax, he said. The minister stressed buying bitcoin, and other cryptocurrencies would be legal.

Moiseev added that work on the bill could drag on, as it includes many new words and concepts now absent in Russian legislation.

At the moment, bitcoin mining and selling are not regulated by Russian law. President Vladimir Putin has ordered the government to create legislation governing the status of bitcoin, other cryptocurrencies, mining, initial coin offerings, as well as defining everything that relates to digital money by July 2018.

The Ministry of Finance earlier suggested introducing mandatory registration of cryptocurrency miners and only to allow legal entities and individual entrepreneurs to participate.

The reliability offered by entire countries who will back the global CryptoCurrency market through their rich resources and economies will normalize and stabilize the market, while will restrict the fraud, speculation and other illegal activity through Bitcoin and other CryptoCurrencies.

Comments

  1. This comment has been removed by a blog administrator.

    ReplyDelete
  2. This comment has been removed by a blog administrator.

    ReplyDelete

Post a Comment

Popular posts from this blog

How CIA altered the ending of Orwell's 'Animal Farm' to project Communism as the sole tyrannic system

globinfo freexchange

This interesting short documentary by AJ+, explores the cultural war between the United States and the Soviet Union during the Cold War. In an effort to project Communism as the evil against capitalist West and the "free world", CIA had to covertly interfere through various ways in art, music, literature, philosophy.

In one of these cases, the documentary reveals how CIA altered the ending of Orwell's 'Animal Farm' to project Communism as the sole tyrannic system. It is also interesting the fact that the case involved an animated film, indicating that CIA's cultural propaganda was targeting minor Americans in order to "train" them ideologically.

According to the story, George Orwell, who wrote such middle-school classics as 1984 and Animal Farm, described himself as a Democratic Socialist. And he was actually pretty anti-Stalinist and anti-Soviet-style socialism, something which was unusual among Leftist circles at the time.

Trump threatens to transfer the endo-capitalist war into a civil war level

globinfo freexchange
Donald Trump finally counter-attacked against corporate Democrats and their persistent desire to impeach him, through the ultimate threat: a civil war. In a recent tweet he wrote:
"... If the Democrats are successful in removing the President from office (which they will never be), it will cause a Civil War like fracture in this Nation from which our Country will never heal.
....If the Democrats are successful in removing the President from office (which they will never be), it will cause a Civil War like fracture in this Nation from which our Country will never heal.” Pastor Robert Jeffress, @FoxNews — Donald J. Trump (@realDonaldTrump) September 30, 2019
Speaking to the Real News Network, Jeet Heer of The Nation pointed out:
The civil-war tweet is almost like a threat. It’s like, 'Well, this is a nice little Republic you got here, and it’d be a shame if anything happened to it.' But the thing is that this civil-war talk did not originate from T…

Gaddafi's plan for a pan-African independent power as the main reason for which the Western neocolonialists finally destroyed Libya

'Hillary Clinton is a war criminal'
globinfo freexchange
Afshin Rattansi of RT's Going Underground, speaks with Muammar Gaddafi's spokesperson during the Libyan Civil War, Moussa Ibrahim, about how Gaddafi's government's predictions came true on terrorism, extremism and tribal conflict plaguing Libya following Gaddafi's downfall.
Ibrahim gives details about Gaddafi's plan to create a fully independent African Union from the Western neocolonial powers. And he implies that this was the main reason for which the Western neocolonialists finally destroyed Libya. He claims that Gaddafi administration was very open to a dialogue with the West, but he had been deliberately ignored. He also characterizes Hillary Clinton as a 'war criminal'.
Some key points:
Gaddafi was laying down real plans and real project for the control of African natural resources through the African Organization for Natural Resources. Unifying African armies into one army called th…

Roger Waters: militarism is exacerbating the Climate Crisis

The Real News Network
Pink Floyd co-founder and activist Roger Waters speaks to the Real News at the People's Mobilization Against the U.S. War Machine in New York City.

Why NSA whistleblower Edward Snowden risked his life to expose surveillance state

Democracy Now!
Six years ago, Edward Snowden leaked a trove of secret documents about how the United States had built a massive surveillance apparatus to spy on Americans and people across the globe. 
Snowden was then charged in the U.S. for violating the Espionage Act and other laws. As he attempted to flee to Latin America, Snowden became stranded in Russia after the U.S. revoked his passport. He has lived in Moscow ever since. 
Snowden just published his memoir, “Permanent Record,” in which he writes about what led him to risk his life to expose the U.S. government’s system of mass surveillance. 

Greta Thunberg: “We are striking to disrupt the system”

Democracy Now!
Greta Thunberg, is the 16-year-old Swedish climate activist who has inspired millions across the globe. Last year she launched a school strike for the climate, skipping school every Friday to stand in front of the Swedish parliament, demanding action to prevent catastrophic climate change.
Her protest spread, quickly going global. Hundreds of thousands of schoolchildren around the globe have participated in their own local school strikes for the climate.
Since her strike began in 2018, Greta has become a leading figure in the climate justice movement. She has joined protests across Europe. She has addressed world leaders at the U.N. climate talks in Poland and the European Union Parliament. She has even met the pope. 
She is also planning to attend the U.N. climate summit in Santiago, Chile, in December.

Το βαθύτερο νόημα του να κάνεις κολοτούμπες σε σύνοδο του ΟΗΕ

globinfo freexchange
Επικυρώθηκε με κάθε επισημότητα η μεγάλη απάτη του Μητσοτακικού καθεστώτος και του βρόμικου μιντιακού κατεστημένου της ντόπιας ολιγαρχίας, το οποίο έκανε τα πάντα, προκειμένου να κερδίσει τις εθνικές εκλογές η χειρότερη δεξιά της μεταπολίτευσης. 
Μετά τις θεαματικές κολοτούμπες Παναγιωτόπουλου-Βαρβιτσιώτη σε συνέδριο του Economist όσον αφορά το Μακεδονικό, ήρθε η σειρά του ίδιου του Μητσοτάκη να τους μιμηθεί, όχι απλά σε κάποιο συνέδριο, αλλά σε σύνοδο του ΟΗΕ για το κλίμα. 
Η δήλωση Μητσοτάκη δεν αφήνει κανένα περιθώριο παρερμηνείας:
«Νωρίς το απόγευμα της 23ης Ιουλίου πέρυσι μία μικρή πυρκαγιά ξέσπασε σε λόφο έξω από την Αθήνα. Οι πυροσβεστικές υπηρεσίες αντιμετωπίζουν χιλιάδες τέτοιες φωτιές κάθε χρόνο. Αυτή όμως ήταν διαφορετική. Οδηγημένη από ισχυρότατους ανέμους, εξαπλώθηκε γρήγορα και έφθασε στην προαστιακή κωμόπολη του Ματιού. Μόλις μπήκε στην πευκόφυτη οικιστική περιοχή κατέστη αδύνατο να περιοριστεί… Τα ακραία καιρικά φαινόμενα είναι η άμεση συνέπεια τη…

Το Μητσοτακικό καθεστώς βάζει σε εφαρμογή το σχέδιο για τα σύγχρονα φέουδα

globinfo freexchange

Φαίνεται ότι αρχίζουν κιόλας να επαληθεύονται οι εκτιμήσεις σχετικά με τη δημιουργία Ειδικών Οικονομικών Ζωνών εντός της Ελληνικής επικράτειας. 
Όπως έχουμε αναφέρει σε πρόσφατο άρθρο, ο πρώτος μεγάλος στόχος του Μητσοτακικού καθεστώτος θα είναι η δημιουργία Ειδικών Οικονομικών Ζωνών εντός της Ελληνικής επικράτειας και το σχέδιο αναμένεται να ανακοινωθεί επίσημα γύρω στον Γενάρη-Φλεβάρη του 2020, εκτός απροόπτου. Οι νεοφιλελεύθεροι "τζιχαντιστές" της δεξιάς ετοιμάζονται να στρώσουν χαλί στους φεουδάρχες του 21ου αιώνα τους οποίους σήμερα αποκαλούμε "επενδυτές". 
Το σχέδιο θα εφαρμοστεί ανεμπόδιστα και σε πλήρη σύμπλευση με το νεοφιλελεύθερο ιερατείο του άξονα Βρυξελλών-Βερολίνου, καθώς οι φανατικοί τεχνοκράτες του Μητσοτάκη είναι απόλυτα αφοσιωμένοι στην επιτυχή ολοκλήρωσή του.

Όπως είναι φυσικό, οι περιοχές που προσφέρονται περισσότερο για την επιτυχή εφαρμογή του σχεδίου, είναι αυτές που παρουσιάζουν την υψηλότερη ανεργία. Με τη Μητσοτ…

'How dare you!': Greta Thunberg rages at 'fairytales of eternal economic growth' at UN climate summit

In a speech to the United Nations Climate Action Summit Monday, Swedish youth climate activist Greta Thunberg lit into world leaders for their "empty words" around solving the climate crisis and said decades of inaction have left her generation without a future.

"People are suffering. People are dying. Entire ecosytems are collapsing. We are at the beginning of a mass extinction and all you can talk about is money and fairytales of eternal economic growth," said Thunberg. "How dare you!
Thunberg delivered her remarks during a panel on the climate crisis after she was asked what she thought of the worldwide climate strike movement that she began, alone, 13 months ago. But the youth activist wasn't interested in rehashing the past or praise from politicians.

"I shouldn't be standing here," said Thunberg. "I should be back in school on the other side of the ocean. Yet you all come to me for hope? How dare you! You have stolen my d…

Chris Hedges: "Democracy has been destroyed by global capitalism"

Democracy Now!
House Democrats have subpoenaed President Trump’s personal lawyer Rudy Giuliani, seeking documents related to his work in Ukraine, after Giuliani admitted on television that he had urged the Ukrainian government to investigate Joe Biden and his son Hunter. This comes as House Democrats continue to build their case for impeaching the president, following a whistleblower complaint focused on a phone call in which Trump asked the Ukranian president to do him a “favor” by digging up dirt on his political rival ahead of the upcoming election. 
Pulitzer Prize-winning journalist and author Chris Hedges says the president's latest behavior merely scratches the surface of the underlying corruption and malaise that plagues the country, and describes global capitalism as an impediment to democracy. Currently, he says, "we have the façade of democracy." The capitalist class has leveraged its influence to draft legislation, invert the constitution and orchestrate the &…