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RE: Venezuela Offers India 30% Discount On Oil...If It Pays In Crypto

in #petro7 years ago

Venezuela can increase the oil supply so increase the USD value. By using crypto to sell oil they just avoid to increase the USD value by creating demand for it.

USA could be happy that Venezuela is not a threat to their money so to their economy anymore by having some control over the USD value. But of course if other countries use crypto too the problem will be that no one will need USD to buy oil, and that will make the USD value go down, what is not necessary what the USA need or want (a fiat currencie need to have a value that make import/export balance sustainable).

Saddam Hussein wanted to sell oil for EUR, Kadhafi for Dinar, we know what happened ... hoping the US governement is dumb enough to think the Venezuelian/Indian move is just a try and will fail in the long run, that could lead to a USD independence for oil/gaz trading so to more peace (or less war) in the world.