Oil-rich Venezuela is abandoning the US petrodollar, plans to introduce new international payment system

Posted: September 8, 2017 in Uncategorized

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Venezuelan President Nicolas Maduro has announced that he intends to liberate Venezuela from the negative effects stemming from the US dollar currency by introducing a new international payment system and an alternative currency basket.

Tales from the Conspiratum

What?  Venezuela sits on the largest amount of oil reserves in the world? It looks like it needs US freedom and democracy!

Source: Oil-rich Venezuela is abandoning the US petrodollar, plans to introduce new international payment system

theduran.com

Venezuelan President Nicolas Maduro has announced that he intends to liberate Venezuela from the negative effects stemming from the US dollar currency by introducing a new international payment system and an alternative currency basket.

 

In an address to a new legislative superbody, Maduro said:

“I am announcing that Venezuela intends to introduce a new international payment system and to create a currency basket for the liberation from the dollar and, [we intend] to free ourselves from the clutches of the dollar, the currency that is strangling our country.”

 

“If they pursue us with the dollar, we’ll use the Russian rouble, the yuan, yen, the…

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Comments
    • My sense, Schluter, is that US influence (with the strength of the dollar) is declining rapidly. Although Trump does his best to portray the US as the colonial power it once was, increasingly it comes across as rhetoric and bluster without any real teeth. I think this lame posturing gives leftist regimes like Maduro’s the courage to reject the petrodollar without fearing assassination, invasion or military occupation.

  1. I don’t see what he has to lose, Alan, as he already faces economic sanctions and the threat of military invasion.

  2. Dangerous words from Maduro. The Guardians of the US dollar as the world’s reserve currency won’t let that happen.

  3. I guess he has really powerful friends (Russia and China) whose power is growing.

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