The US Treasury accidentally reveals that CryptoCurrencies will help countries to overcome Western sanctions!
After some of the top Wall Street 'gurus' made a series of aggressive statements against Bitcoin, the panic of the Western monetary monopoly against the perspective of Bitcoin and other CryptoCurrencies was officially verified through the US Treasury!
As reported by TeleSur:
The US Treasury Department has red-flagged Venezuela's "Petro" cryptocurrency, warning investors in the United States that engaging with the currency might prove a legal liability because of sanctions in place against the Latin American nation.
"Available information indicates that, once issued, the Petro digital currency would appear to be an extension of credit to the Venezuelan government," a Treasury spokesman told Reuters on Tuesday.
Any such transactions could be a violation of sanctions that prohibit new debt from the Venezuelan state or its state oil company PDVSA, he said, noting: "The Venezuelan Petro currency could therefore expose US persons to legal risk."
The first observation here, is that this is actually an indirect threat from the US against any investor who will seek to find ways to invest in Venezuela. And this is something that shows clearly the panic of the US empire in front of the danger of losing the monetary monopoly through dollar as the global reserve currency.
There is a deeper reason for which the US empire is terrified in such a case. Since the early 70s with the abolition of the gold standard, dollar became the dominant currency in global scale. This fact permitted the US financial-military-industrial complex, expressed by the neocon/neoliberal ideology, to design economic and military wars in every corner of the planet to maximize its power and profits. All it needed was just machines printing dollars.
Yet, it is perhaps more important (and impressive), that the statement by the US Treasury spokesman above indirectly confirms the estimation that CryptoCurrencies will help countries to overcome Western sanctions!
As has been already pointed out, Russia also made a first move to issue its own CryptoCurrency. While Vladimir Putin implied that CryptoRouble comes as a natural attempt by Russia to participate in rapid developments in the sector of monetary and commercial transactions, it is quite probable that there are other reasons too. At the time where Russia struggles to overcome continuous sanctions by the West and BRICS seek complete independence from the Western monetary monopoly, the move could contribute significantly towards the achievement of both of these goals.
With an alternative economic bloc based on a CryptoCurrency issued by BRICS, Bitcoin and other CryptoCurrencies will find a much more solid ground to be developed and survive. Because this huge bloc will be backed by a fast-growing market functioning with real goods, investments and services, not big oil interests, wars, bubbles and speculative transactions that dominate in the Western financial system today.
This is actually a battle with time. The Western banking cabal will seek to destroy Bitcoin before it finds a safety net in a system flooded with decentralized CryptoCurrencies and other CryptoCurrencies issued by a major rival bloc.
China ready to dominate the CryptoCurrency markets of the future using supercomputer power superiority