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Is petro in exchanges outside VZ? This just seems like a move to put the blame for the inevitable crash of this fiat cryptocurrency to "the bad bitcoin market".
by buboard 8y ago
Is petro in exchanges outside VZ? This just seems like a move to put the blame for the inevitable crash of this fiat cryptocurrency to "the bad bitcoin market".
- jetrink 8y agoIt was Maduro who launched the currency and if it fails, it will be his failure. More likely, they are trying to recreate the URV[1] that Brazil used to get inflation under control. 1. https://www.npr.org/sections/money/2010/10/04/130329523/how-fake-money-saved-brazil https://www.npr.org/sections/money/2010/10/04/130329523/how-...
- cesarb 8y agoBut the URV was only part of the Real plan, though it was the most visible part. There were other equally important measures, Wikipedia has a summary (https://pt.wikipedia.org/wiki/Plano_Real#Principais_medidas https://pt.wikipedia.org/wiki/Plano_Real#Principais_medidas): - Limiting price adjustments to once a year; - Privatizations; - Reducing government spending and increasing taxes; - Reducing import taxes and making imports easier; - Interventions in the exchange rate; - Increasing the central bank interest rate.