Jim’s Mailbox

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Courtesy of JB.

Jim

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The question is backed, HOW? The devil is always in the details. Courtesy of JB.

Jim

Venezuela Creating Digital Currency Amid Financing Crisis
December 3, 2017

Caracas (AFP) – Venezuela is creating a digital currency to combat a financial blockade by the United States, President Nicolas Maduro announced Sunday.

The Petro will be backed by Venezuela’s oil and gas reserves and its gold and diamond holdings, the president said in his weekly television program.

“This is going to allow us to move toward new forms of international financing for the country’s economic and social development,” the president said.

The government also announced the creation of a “blockchain observatory” — a software platform for buying and selling virtual currency.

Although the president did not offer many details, analysts such as Henkel Garcia see the possibility of success as limited.

“You can build it, but trust, acceptance and use is what will determine the cryptocurrency’s success. For me, it will be quite limited. The bolivar is is [sic] also backed by reserves and has no strength,” Garcia, director of consultancy Econometrica.

Moreā€¦

Courtesy of JB

Jim

Breaking!!! Congress Finally Orders Fbi To Specially Investigate Hillary Clintons Email Scandal

CIGA Peter brings back a blast from the past as a current day analogy!

Bill

Bill/Jim,

After listening to your latest podcast something hit home.

You would have to believe that gold and silver is money for

this concept to work.

Remember that banks would give you a toaster to open an

account and deposit your money (currency) with them.

Now the bullion banks or exchanges are giving you

currency to leave real money (gold and silver) on deposit

with them. These magicians have turned fiat currency into

a toaster as a reward for leaving real money with them. We

all know toasters need to be replaced as they don’t last forever

just like fiat currencies that have too much debt attached to them.

I’d like to say this is going to be fun to watch, but I know it won’t be.

Peter