Treasury warns "Petro" investors regarding sanctions. Chavismo goes into meltdown.

[GatoGordo]

Reuters: US warns investors about Petro
January 16, 2018

ND / Jan 16, 2018.- The US Treasury Department warned US investors on Tuesday that they should be cautious with the new Venezuelan cryptocurrency, the "Petro", saying that trading in this currency could contravene sanctions against the Government of President Nicolás Maduro

"The information available indicates that, once it is issued, the digital currency would appear to be a credit delivery to the Venezuelan government," a spokesman told Reuters, citing US sanctions that prohibit negotiating new debt from the South American country or the oil company PDVSA. .

"Therefore, Venezuelan petro could expose Americans to legal risks," he added.

This week, almost a hundred Venezuelan economists sent a public letter to President Nicolás Maduro, where they express their concern about the serious crisis that the oil nation is going through.

-snip-

http://www.noticierodigital.com/2018/01/reuters-eeuu-advierte-inversores-petro/

Its a pretty safe bet that the Petro isn't going to find a whole lot of investors, as Chavismo is incapable of managing ONE currency, let alone another scheme.

Venezuela Condemns Fresh US Sanctions Threat, Interference
US Under Secretary of State for Political Affairs Thomas Shannon said Friday that the United States is preparing new sanctions against the government of Nicolas Maduro.

-snip-

https://venezuelanalysis.com/news/13599

Venezuela Analysis... straight from the horses mouth... err.. ass.

[Eugene]

1. Venezuela considers offering deep discount in petro

Source: Al Jazeera

Venezuela considers offering deep discount in petro

13 hours ago

Advisers to the Venezuelan government are recommending it sell $2.3bn of its new cryptocurrency, the petro or petromoneda, in a private offering at a discount of up to 60 percent, according to a document reviewed by Reuters.

The Venezuelan government is pressing ahead with an attempt to capitalize on the success of cryptocurrencies like bitcoin by creating one for Venezuela as its traditional currency, the bolivar, plunges to all-time lows against the dollar and the country struggles with hyperinflation.

Venezuelan President Nicolas Maduro said each petro would be backed by one barrel of Venezuelan oil, and would be sold at the same price, which last week averaged $60.40 a barrel. That would put the value of the entire petro issuance of 100 million tokens at just over $6bn.

VIBE recommended Venezuela sell 38.4 million petros with a face value of around $2.3bn in private placements starting on February 15 at a discount of up to 60 percent. Another 44 million petros with a face value of $2.7bn should be offered to the public a month later.

-snip-

Read more: http://www.aljazeera.com/news/2018/01/venezuela-considers-offering-deep-discount-petro-180116192058562.html

[GatoGordo]

2. hahahahaha...

Not a single "coin" has been offered to date, and they are already offering deep discounts.

This ship is already starting to sink. I think the rats are too smart to even approach the pier.

Factor in that the Anonymous collective has been invited to make Maduro's Petro a "prime target"...