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The Collapse Of Venezuela's Imaginary Oil Currency

Discussion in 'The Main Board' started by twp, Sep 5, 2018.

  1. twp

    twp Administrator Staff Member

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  2. Atlas

    Atlas Administrator Staff Member

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    How do you back a currency with something that gets burned up?
     
  3. twp

    twp Administrator Staff Member

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    Promise to keep pumping more of it?

    They are dancing as fast as they can... someday the band will just quit playing...
     
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  4. twp

    twp Administrator Staff Member

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  5. Atlas

    Atlas Administrator Staff Member

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    That's a new twist. I wonder what strings are attached to this one?
     
  6. tulpa23

    tulpa23 Well-Known Member

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    Marionette.
     
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  7. tulpa23

    tulpa23 Well-Known Member

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    The million barrels is worth far more than the $5,000,000 (?) dollars of the credit line. Perhaps this will help;
    “Maduro went on to proclaim that Venezuela will now produce one million barrels of crude oil a day, thanks to investments from China.”
    I bet Chine will have it’s hooks in the new production.
     
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  8. Atlas

    Atlas Administrator Staff Member

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    I would guarantee it. $5 a barrel is laughable. This move probably has a lot to do with Chinas Petro Currency dreams as well.