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Posts tagged 'Petro-backed currency'

Venezuela Announces “the Petro” Currency Backed by Gold, Oil and Diamonds - Rory Hall (5/12/2017)

By Rory Hall 11 months ago 6251 Views No comments

Apparently, Venezuelan President Madura is following China’s lead, but instead of a subtle rollout over time as to not cause some kind of market shake-up, he has decided that now is as good a time as any to announce the creation of a new digital currency: the Petro, backed by Venezuela’s gold, oil and diamond reserves.

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