Tag Archives: bolivar

Gresham’s Law and Bitcoin

Gresham’s law holds that “bad money drives out good money,”┬ámeaning that given a choice of currencies (broadly speaking, “money” that serves as a store of value and a means of exchange), people use depreciating “bad” money to buy goods and … Continue reading

Posted in General | Tagged , , , , , , | Leave a comment

Venezuela’s New Cryptocurrency: Just Another Form of Control Fraud

The broke and broken country of Venezuela appears to be the first nation-state to issue a cryptocurrency token (the petro) as a means of escaping the financial black hole that’s consuming its economy:┬áMaduro Launches Oil-Backed Crypto “For The Welfare Of … Continue reading

Posted in General | Tagged , , , | 3 Comments