49 Comments

  1. 90% of crap going on in venezuela is because of american sanctions and americans paying people to riot against maduro. if you remove sanctions, people can get out, and can smuggle goods in, and live normal lives, and if you riot against a president, of course there's gonna be retaliation. the more aggressive the rioters, the more aggressive retaliation. this is perfectly natural. people don't have tendency to riot, as illustrated by situation in north korea, but they do have tendency to do all kinds of shit for money. so it makes sense to force people to use a crypto currency exclusively. americans don't own any petro, so they can't pay rioters, so the situation would converge to calming. it is crucial to remove CIA/You.Ass.Hole. influence, if you want a stable country. if they achieve that, they will be left with just a handful of problems on their hands.

    I understand that as a white russian, you'd have a natural animosity towards communism. but I am from yugoslavia, and while we were communists, we were one of the best countries in europe. it was only after americanazis managed to got rid of soviets, that they turned their destruction towards us, and our country crumbled and fell almost instantly.

  2. Looking at this again, today. The petro website has updated the Linux User Manual from just a title page for a Windows document, to simply a single word evaluation of the customer: "DUMMY"! 😉

  3. Ivan; Argentinian government is more corrupt than Venezuela. Brazil is the worse in South America (with a Dictator and a puppet Congressional majority). Venezuela has problems because they USA has created conditions for the country to collapse, yet it is still barely hanging in there and looking for solutions. It would be EZ for Venezuela to just use the Dollar and get a loan from the IMF or World Bank and the problem would be over. However, they would lose their sovereignty, like the countries of the EU have lost it. Argentina has succumbed to paying the Hedge funds and borrowing from the big dogs.

  4. To all the mouthbreather rightwinger/libertarian types – someday you may understand that the USA doesn't hate Maduro because he's a dictator, we hate him because he's not OUR DICTATOR.

  5. Corrupt leaders aside, I think Venezuela has the right to seek freedom from the dollar-lined cage it's in. As do all the other OPEC countries. If the US were being held hostage in this way it would go to war, viciously.

  6. Venezuela's principal export is petroleum. The difficulty is that their petroleum contains so much asphalt that it must be softened with thinner oils, for it to be pumped. Nearly 100 years ago the Vacuum Oil Company of New York, (now part of ExxonMobil) began buying thin oil in Texas, shipping it to Venezuela, using it to wash the thick Venezuelan oil out of the ground, then sending the mixture to New York and distilling it under partial vacuum, yielding asphalt for roofing shingles and road building as the by-product. With trade sanctions in place, Venezuela needs an alternative source of thinner oils. What appears to be happening, is that Iran intends to supply the thinner oils to Venezuela, but needs to be able to pay ship owners to carry the thin oil into Venezuela and then to carry the thick mixture to markets. Several European countries are passing laws to protect businesses based in Europe, from any US economic sanctions for participating in the Iran trade, but it's not obvious that anyone in Europe has the political will to grant similar immunity for trading with both Venezuela and Iran. It's not exactly a secret that France seeks to buy gas centrifuge technology from Iran, to reduce the cost of refining uranium, and the Iran nuclear treaty that the US rejected last year, provides France the ability to acquire that technology. But Venezuela primarily can supply asphalt, which Europe can import from Russia at a much-lower price than from Venezuela.

    Thus the value of the cryptocurrency play, to Venezuela, is to provide some means of buying Bitcoin or other major altcoins, with which Asian companies can buy some anonymity for themselves, in trading for Iranian oil and Venezuelan asphalt. China has port facilities in Panama through which it might be practical to load mixed Iranian-Venezuelan crude oil aboard supertankers and move it to China, but Chinese companies that participate in the trade may not want to trigger US sanctions on themselves. Handling all the money in offshore accounts may look attractive, especially if altcoins can provide a degree of anonymity. Of course, a big problem for the Petro altcoin, is that the assets with which the Maduro government backs it, were already pledged to back Venezuelan bonds. This would give bond owners a legal claim on those Petros. Whenever this crisis resolves itself, those debts have to be settled in law courts of the various countries where Venezuela sold the bonds. Buying Petros, to me, looks like a guarantee of a trip to the courthouse to collect on them, and a huge risk of losing the court case. The Iranian and Venezuelan officials may lose power in the meantime, but private-sector people who are stuck with the bonds and the altcoins will also be stuck with the costs of litigation. To my thinking, there are safer altcoins in which to invest.

    In terms of purely wild speculation: The basis of the US objection to the Iran nuclear treaty is that Iran's government objects to the existence of Israel. "Death to America! Death to Israel!" remains an officially-supported slogan and official policy. A previous Venezuelan government granted refuge to various minor officials of the German Nazi Party, who may have paid for their immunity from extradition, with loot stolen during World War II. Supposedly one of the Venezuelan assets, with which the Petro is backed, are diamonds. Conflict diamonds stolen from Europe during WW II, perhaps? And will Iran join forces with the Maduro government, and try to claim that the Palestinian refugee problem somehow justifies the Nazi Holocaust, or that the Nazi loot somehow belongs to Iran? It's anybody's guess right now…most folks who got their World War II history from reading textbooks in high school, believe that Hitler committed suicide in his bunker. However, it wasn't until Khrushchev took control of Russia, that some German prisoners being held in GULAG came forward and told that story. For 9 years none of the Allied nations could agree on where Hitler had gone. Numerous other prominent Nazis vanished and were never found. As did much of their loot. Moral of the story: Wild guesses are easy to make. Getting at the facts can be very hard. Investing in Petros seems like a poor choice. I plan to leave them alone.

  7. Again i cant stress enough how important it is for people to be careful on how they invest their money. This video is great ivan. I wish all my Venezuelian bros and sis well. Thanks

  8. Awesome vid, I like the analysis, Absolute power corrupts Absolutely! That why social does not work because of people are greedy and that why we should have the ability to create our own wealth

  9. Ivan, I really like your channel, Ivan on Tech, please keep it ON TECH ! Politics are nowhere clear nowadays, so stay only ON TECH. You are too young to understand all politics variables.

  10. National cryptocurrencies are scams and fully controlled by the central authority, so make them dangerous spying tools. beware people of Turkey, Russia, Iran, Venezuela and etc. They could be confiscated easily.

  11. Living and working in Doral Fl where many Venezuelans have immigrated throughout the last few years, I have heard first hand horror stories of the situation there. No food, medicine and basics necessities. There was a young Venezuelan man who fled to Miami with 4 Billion dollars worth of corrupt government money.This is only one person that was caught. I can only image how much was stolen from these people.

  12. I'm pleasantly surprised to hear you talk about the evils of Socialism considering you live in one of the Nordic countries that employs Socialism and that the foolish liberals in the US lust after. Great job!

  13. Ivan,
    George Orwell was a socialist.

    Animal Farm is a critique of Stalinism not socialism. The USSR was NEVER a socialist country. It had a planned economy but no democratic workers control. Without democratic workers control you cannot have socialism. Democratic workers control is ESSENTIAL to socialism.

  14. 13.5% of Americans 43.1 million live in poverty. More than 30 million adults in the United States cannot read or write. And yet the president eats well every day, two scoops of ice cream no less.

  15. "Socialism is the doctrine that man has no right to exist for his own sake, that his life and his work do not belong to him, but belong to society, that the only justification of his existence is his service to society, and that society may dispose of him in any way it pleases for the sake of whatever it deems to be its own tribal, collective good." ~ Ayn Rand

  16. Best crypto channel yes, but please don't do politics. Animal Farm was also against capitalism. George Orwell was a self-proclaimed Socialist Democrat

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