



After the successful premiere of Petro , Venezuela's first Cryptocurrency, the country is about to send another shock wave against the Wall Street mafia and the Western banking cabal, very quickly. Maduro announced a second Cryptocurrency that will be backed by gold and other precious metals!









After launching the oil-backed cryptocurrency Petro earlier this week, the Venezuelan government is now preparing a new digital currency called the Petro Gold or 'Petro Oro,' which will be backed by gold and other precious metals.





"Next week I'm going to launch the Petro Gold, backed by gold, which is even more powerful, to strengthen the Petro," Venezuelan President Nicolas Maduro said in a televised speech on Wednesday night.





Maduro has said the goal of the Petro and now the Petro Gold is to combat sanctions and the "economic war" waged by the U.S. government and its junior partners against his country, and advancing "on issues of monetary sovereignty, to make financial transactions and overcome the financial blockade."





The launch of the Petro was announced in December. It is regulated by the Superintendence of Cryptocurrencies and Related Activities, as well as the Blockchain Observatory.





In 1971, Nixon ended the direct convertibility of the US dollar to gold, and as dollar became the global reserve currency, the absolute dominance of the banksters became definite. This is a very crucial moment because it actually marks the beginning of casino capitalism and the complete domination of the neoliberal ideology in the West.









Banks and big corporations couldn't wait. Just two years later (September 1973), they proceed to another big experiment. Through the U.S.-backed military coup in Chile that ousted the democratically-elected President Salvador Allende, they establish a 17-year dictatorship led by Augusto Pinochet. Chile became the first lab-rat of neoliberalism. Milton Friedman and the Chicago boys advise dictator Pinochet to kill the state and privatize everything. Chile was occupied by big cartels, US interests companies, people suffered from poverty and from Pinochet's cruel regime.





It's the same tactics tried by the US empire against Venezuela, attempting to 'make the economy scream', as Nixon had ordered back then against Chile.





With the dollar monopoly through the abolition of gold standard, the US empire managed to maintain its military machine in order to support and expand the interests of the US corporate monopolies. At the top of the pyramid, the banking cartels became the absolute controllers of the new fiat money with devastating consequences: endless wars, rising inequality, destruction of the social state, waves of ongoing attacks against the middle class in the US and elsewhere.





Therefore, this second strategic move by Venezuela is both practical and symbolic. The gold-backed Cryptocurrency not only will help Venezuela to escape the US economic suffocation faster, but also, to create a parallel system of global transactions that will be based on a type of gold standard. This will permit countries to decouple economies more efficiently from the Western monetary monopoly, which is based on financial capitalism.





It is certain that the mechanisms of neoliberalism will fight back, yet, the blockchain technology in the hands of countries that have suffered from its policies, may eventually become a decisive tool that will put an end to its global domination.





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