Friday, August 21, 2015

Venezuela could have saved the Bolivar...

If they had recognized that the fraud was in the digital currency and not necessarily the paper currency, Venezuela could have reneged on its digital obligations, thereby increasing the value of the paper AS WELL as its future oil extractions and contracts.  The population would have retained purchasing power and strict controls over the digital would have been politically accepted with no civil unrest.

This will likely anger a very few who have "assets" denominated in digital Bolivars and paper hoarding might have become an issue (depending), however, this might be food for thought, if and when another currency undergoes attack.

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