Cry for Venezuela

For discussion of secret combinations (political, economic, spiritual, religious, etc.) (Ether 8:18-25.)
User avatar
gclayjr
captain of 1,000
Posts: 2727
Location: Pennsylvania

Re: Cry for Venezuela

Post by gclayjr »

Silver,
And people here mock at the idea of owning precious metals as a financial reserve.
I haven't been following all of your precious metal/Silver posts, so I don't know who is mocking you or for what reason. I would say however, that I wouldn't put all of my eggs into that basket. I'm not sure if even owning precious metals would help that much in Venezuela. I do know that in the US under FDR, the government did ban the ownership of gold for awhile.

Since you follow Venezuela, and I am sure other historical authoritarian governments, you will know that the government doesn't just sit by and let people enjoy the fruits of their labor. They are very creative in their use of legal power to block people from being able to use their assets, and often are very effective at stealing those assets.

I think that one can include precious metals as part of their preparedness (although I would strongly warn against going into debt for it), but I wouldn't stake my whole future on it. I am very concerned about how the word "hoarder" is used today to refer to crazy or selfish people. I knew somebody from Belarus in the former Soviet Union, and he related that the word hoarder was used to describe someone who might have an extra bag of potatoes. Also, he noted that the people were so psychologically conditioned to hate hoarders that most of them would prefer that that hoarder of a bag of potatoes get his just punishment, and turn him in, rather than to force him to share in order to keep quiet!

I apologize for not remembering your id, as the one who called the welfare office. I guess at 65, my brain is going a little soft. That being said, I do remember that there was a conference talk last October (I'm sure your younger, sharper mind will remember who gave that talk) targeted at over zealous preppers. It kind of said steadily follow all of the guidance of the Lord's prophets, and to not get too zealous about any particular idea.

1) Pay tithing
2) Get out of debt
3) Store a years supply of food, clothing and fuel
4) I would add learn good skills like gardening, food preservation and how to fix and repair things


I think after you have accomplished the above, if you have a burning desire or testimony to take it further into storing precious metals, or building steam engines and having machine tools (guilty) that is fine, but keep things in perspective!

Regards,

George Clay
Last edited by gclayjr on April 23rd, 2017, 5:33 pm, edited 1 time in total.

User avatar
David13
Level 34 Illuminated
Posts: 7072
Location: Utah

Re: Cry for Venezuela

Post by David13 »

gclayjr wrote: April 23rd, 2017, 5:25 pm Silver,
And people here mock at the idea of owning precious metals as a financial reserve.
I haven't been following all of your precious metal/Silver posts, so I don't know who is mocking you or for what reason. I would say however, that I wouldn't put all of my eggs into that basket. I'm not sure if even owning precious metals would help that much in Venezuela. I do know that in the US under FDR, the government did ban the ownership of gold for awhile.

Since you follow Venezuela, and I am sure other historical authoritarian governments, you will know that the government doesn't just sit by and let people enjoy the fruits of their labor. They are very creative in their use of legal power to block people from being able to use their assets, and often are very effective at stealing those assets.

I think that one can include precious metals as part of their preparedness (although I would strongly warn against going into debt for it), but I wouldn't stake my whole future on it. I am very concerned about how the word "hoarder" is used today to refer to crazy or selfish people. I knew somebody from Belarus in the former Soviet Union, and he related that the word hoarder was used to describe someone who might have an extra bag of potatoes. Also, he noted that the people were so psychologically conditioned to hate hoarders that most of them would prefer that that hoarder of a bag of potatoes get his just punishment, and turn him in, rather than say to force him to share in order to keep quiet!

I apologize for not remembering your id, as the one who called the welfare office. I guess at 65, my brain is going a little soft. That being said, I do remember that there was a conference talk last October (I'm sure your younger, sharper mind will remember who gave that talk) targeted at over zealous preppers. It kind of said steadily follow all of the guidance of the Lord's prophets, and to not get too zealous about any particular idea.

1) Pay tithing
2) Get out of debt
3) Store a years supply of food, clothing and fuel
4) I would add learn good skills like gardening, food preservation and how to fix and repair things


I think after you have accomplished the above, if you have a burning desire or testimony to take it further into storing precious metals, or building steam engines and having machine tools (guilty) that is fine, but keep things in perspective!

Regards,

Georeg Clay

Georeg? Is that a typo or are you going Russian spelling for this thread? It's not often a guy spells his own name wrong. So I had to ...
I'm older than you but I recall the Conference talk you post about. Was it October or just April, 2017? Anyway, there was comment on it here. But few people are in that 'all 4 accomplished' camp. Even of those in the church. So you won't help the gold and silver market much.
dc

Silver
Level 34 Illuminated
Posts: 5247

Re: Cry for Venezuela

Post by Silver »

gclayjr wrote: April 23rd, 2017, 5:25 pm Silver,
And people here mock at the idea of owning precious metals as a financial reserve.
I haven't been following all of your precious metal/Silver posts, so I don't know who is mocking you or for what reason. I would say however, that I wouldn't put all of my eggs into that basket. I'm not sure if even owning precious metals would help that much in Venezuela. I do know that in the US under FDR, the government did ban the ownership of gold for awhile.

Since you follow Venezuela, and I am sure other historical authoritarian governments, you will know that the government doesn't just sit by and let people enjoy the fruits of their labor. They are very creative in their use of legal power to block people from being able to use their assets, and often are very effective at stealing those assets.

I think that one can include precious metals as part of their preparedness (although I would strongly warn against going into debt for it), but I wouldn't stake my whole future on it. I am very concerned about how the word "hoarder" is used today to refer to crazy or selfish people. I knew somebody from Belarus in the former Soviet Union, and he related that the word hoarder was used to describe someone who might have an extra bag of potatoes. Also, he noted that the people were so psychologically conditioned to hate hoarders that most of them would prefer that that hoarder of a bag of potatoes get his just punishment, and turn him in, rather than to force him to share in order to keep quiet!

I apologize for not remembering your id, as the one who called the welfare office. I guess at 65, my brain is going a little soft. That being said, I do remember that there was a conference talk last October (I'm sure your younger, sharper mind will remember who gave that talk) targeted at over zealous preppers. It kind of said steadily follow all of the guidance of the Lord's prophets, and to not get too zealous about any particular idea.

1) Pay tithing
2) Get out of debt
3) Store a years supply of food, clothing and fuel
4) I would add learn good skills like gardening, food preservation and how to fix and repair things


I think after you have accomplished the above, if you have a burning desire or testimony to take it further into storing precious metals, or building steam engines and having machine tools (guilty) that is fine, but keep things in perspective!

Regards,

George Clay
George,
Thanks for your comments. I've been very careful to tell people here not to buy precious metals with their grocery money. I have not ever and do not now think of my gold and silver as investments. I don't sell them after they have appreciated in price. I am merely adding to my financial reserve when I purchase them. (And now, on a thread in The Exchange forum, I am giving some away.)

I appreciate your warning about hoarders, but remind you that there is nothing tangible, including our children, that the government cannot take away from us. Currently, they are content to merely rob us through the stealth of inflation, by debauching the currency. Gold and silver act as a counterbalance to that nefarious activity.

Your list of 1-4...I'm good, except for the fuel part. 99% of North Americans are likely in the same boat unless we start chopping trees down for cooking and warmth. Not looking forward to that, but I'll be able to pay in silver to the young man who does it for me.

Spaced_Out
captain of 1,000
Posts: 1795

Re: Cry for Venezuela

Post by Spaced_Out »

I think the rains came in Venezuela, and hydro power working again, but there is much bigger problems.
It is now 12 months since the initial post and things have dramatically deteriorated in Venezuela. Very late stage collapse and major civil unrest breaking out.


Venezuela On The Verge Of Revolution As Hyperinflated Currency Crashes To New Record Low
http://www.zerohedge.com/news/2017-04-2 ... record-low

Image

DesertWonderer
captain of 1,000
Posts: 1178

Re: Cry for Venezuela

Post by DesertWonderer »

It just got worse :(

http://www.miamiherald.com/news/nation- ... 95469.html

The Venezuelan government’s decision to arm civilians to defend the country’s socialist revolution amid growing unrest is rekindling fears of terrorists and criminal organizations acquiring part of the nation’s arsenal, which include a large stockpile of shoulder-fired, surface-to-air missiles.

Experts and U.S. policy makers are concerned about the risk that some of these missiles — as well as thousands of modern assault rifles and banned anti-personnel mines — might fall in the hands of criminal groups under President Nicolás Maduro’s regime, with its rampant corruption, its lack of internal controls and the country’s rapidly deteriorating conditions.

“Maduro is a dictator with close ties to terror-sponsoring regimes, and is now promising a ‘gun for every militiaman’ as his thugs counter the Venezuelan people’s peaceful pro-democracy protests with violence and lethal force,” Florida Sen. Marco Rubio said.

“This reckless action reeks of desperation and raises the possibility that Maduro could lose control over dangerous weapons systems,” the Republican senator said in a written statement.

According to internal military documents obtained by el Nuevo Herald, over a number of years Venezuela has purchased several hundreds of the latest variant of the land-to-air missiles, Igla-S, the Russian equivalent of the U.S.-made Stinger missile.

Though the militias are being armed with rifles, not land-to-air missiles, experts worry that the military gear could make its way to civilians eventually.

Caracas’ possession of the portable, infrared-homing Igla-S has been a source of concern in the U.S. for some time, given the socialist regime’s cozy relationship with the Revolutionary Armed Forces of Colombia, or FARC, and with Lebanon’s Hezbollah, groups classified as terrorist organizations by the U.S.

Read more here: http://www.miamiherald.com/news/nation- ... rylink=cpy

Silver
Level 34 Illuminated
Posts: 5247

Re: Cry for Venezuela

Post by Silver »

Sounds like warmongers in Washington, DC, looking for another excuse to go kill brown people to me.

Our national interests, for some reason, always trump the right to life of those who were leading innocent lives until our drone caught up with them.

Spaced_Out
captain of 1,000
Posts: 1795

Re: Cry for Venezuela

Post by Spaced_Out »

DesertWonderer wrote: April 24th, 2017, 2:46 pm It just got worse :(
http://www.miamiherald.com/news/nation- ... 95469.html
A downward spiral that does not only affect the country but can have global ramifications.

More riots breaking out in my home country South Africa, shops looted trucks burning. The buggers set one truck on fire that has 40,000 live chicks - most of then got torched.
https://southafricatoday.net/media/sout ... 017-video/

Silver
Level 34 Illuminated
Posts: 5247

Re: Cry for Venezuela

Post by Silver »

I called Church HQ again and spoke with the person in charge of charitable activity in Venezuela. They are still handcuffed on providing meaningful relief down there. The sister on the phone told me of members that have moved out of Venezuela to neighboring countries. Even those individuals can't get across the border with much.

I offered to send funds to a stake president there, but she counseled me against it because the banking system is not secure. There is no guarantee that anyone can get the funds once they arrive. Why haven't the people overthrown that unrighteous government? The soldiers are the sons of the people most affected. Why isn't there an uprising using the weapons in the hands of the young men who know their parents are suffering?

DesertWonderer
captain of 1,000
Posts: 1178

Re: Cry for Venezuela

Post by DesertWonderer »

Silver wrote: May 12th, 2017, 9:43 am I called Church HQ again and spoke with the person in charge of charitable activity in Venezuela. They are still handcuffed on providing meaningful relief down there. The sister on the phone told me of members that have moved out of Venezuela to neighboring countries. Even those individuals can't get across the border with much.

I offered to send funds to a stake president there, but she counseled me against it because the banking system is not secure. There is no guarantee that anyone can get the funds once they arrive. Why haven't the people overthrown that unrighteous government? The soldiers are the sons of the people most affected. Why isn't there an uprising using the weapons in the hands of the young men who know their parents are suffering?
Why? b/c it's a socialist country in which most weapons have been confiscated.

User avatar
gclayjr
captain of 1,000
Posts: 2727
Location: Pennsylvania

Re: Cry for Venezuela

Post by gclayjr »

Silver,
I called Church HQ again and spoke with the person in charge of charitable activity in Venezuela. They are still handcuffed on providing meaningful relief down there. The sister on the phone told me of members that have moved out of Venezuela to neighboring countries. Even those individuals can't get across the border with much.

I offered to send funds to a stake president there, but she counseled me against it because the banking system is not secure. There is no guarantee that anyone can get the funds once they arrive.
Thanks for that update. I have looked, although not as diligently as you have, for opportunities to send some money or relief to those poor desperate people. Isn't the idea of a socialist government to "look out for the poor"?, I can't believe even that the most totalitarian dictator would not be willing to let people GIVE the poor in his land Food, and money!

Let them starve, rather than let the Capitalist pigs show charity and give the starving people food and money?

Can't get much more evil than that!



Regards,

George Clay

lundbaek
Level 34 Illuminated
Posts: 11123
Location: Mesa, Arizona

Re: Cry for Venezuela

Post by lundbaek »

In his book THE NAKED CAPITALIST, on pg. 3, Dr. W. Cleon Skousen wrote: "Wherever I had friend who knew the inside story In Latin America political circles, they verified the fact that the massive swing to the Left in Central and South America was being financed by certain American banks."

Silver
Level 34 Illuminated
Posts: 5247

Re: Cry for Venezuela

Post by Silver »

This is what I was talking about although the whole article merits your attention.

http://www.zerohedge.com/news/2017-05-1 ... ping-point

Pressures Closing in on Maduro
Meanwhile, Maduro could face other threats as he tries to cling to power. For one, it is critical for him to ensure the military’s support. However, as the economic misery widens, it also affects the families of members of the military, Burke-White noted. “It is much harder to maintain a military-based regime when you have to point your guns at your own people,” he said. “Maduro realizes that that’s the support base he can’t let slip, and if it does slip, it could well be the end of his regime.” Kronick noted that a popular chant during protests translates from Spanish to English as: “Soldier, listen. Join the protest, join the fight.”

User avatar
gclayjr
captain of 1,000
Posts: 2727
Location: Pennsylvania

Re: Cry for Venezuela

Post by gclayjr »

Silver,

Since I know you have been following this even more closely than I have, I'm sure you know that replacing this evil corrupt government with a government directed by any or all of the opposition parties, is probably not much better. While we are both "free market" capitalist in our economic thinking, and believers in a limited constitutional republican form of government. where a constitution limits the excesses of popular will, I see no way to get there from here in Venezuela. In spite of all of this misery, the people still don't "get it"

So sadly, no matter what happens between the Government and the opposition, Venezuelans are still in for endless misery with no solution in sight!

Regards,

George Clay

Older/wiser?
captain of 100
Posts: 538

Re: Cry for Venezuela

Post by Older/wiser? »

Does anyone know how the Venezuelan saints are fairing, I know we can't send anything (gov. Blocks) I wonder if the saints took the counsel given over the years to "prepare, put aside etc." I realize they have less resources than we do, it would be interesting to sit in their sacrament meetings and hopefully here faith promoting testimonies. They are living our future magnified 3x now that is a warning.

Silver
Level 34 Illuminated
Posts: 5247

Re: Cry for Venezuela

Post by Silver »

I don't know how tight immigration laws are in Colombia or Brazil, for example, but the borders are somewhat porous along portions of their shared boundaries with Venezuela. I'm hoping that there is considerable cross-border smuggling (a nasty government word applied to items to which the greedy agents don't get to apply a burdensome tax) to help with the flow of life-sustaining supplies.

Michelle
captain of 1,000
Posts: 1795

Re: Cry for Venezuela

Post by Michelle »

It is my understanding that Venezuela before Chavez was actually really prosperous. Much like the US. That is what worries me most about Venezuela, this was a totally avoidable problem, which means the US could easily fall into the same trap if we are not vigilant about opposing socialism.

User avatar
gclayjr
captain of 1,000
Posts: 2727
Location: Pennsylvania

Re: Cry for Venezuela

Post by gclayjr »

Michelle,

Venezuela, before Chavez was very prosperous, particularly for a Latin American country. However, most of the people were not. I worked in Caracas during the early 80s. The Caracas Airport is close to the sea, and you have to drive through a mountain pass to get to Caracas. On the hillsides leading into Caracas, were massive amounts of squalid homemade shacks (that often slid down the mountain killing its residents when there was a storm). Even inside of Caracas were huge, squalid slums. Those who were either part of the tiny Middle Class or the wealthy had to live behind tall fences and walls with broken glass or barbed wire on top to protect themselves from intruders.

One of the problems with most of Latin America, including Venezuela, is that you have a very few very rich people and huge quantities of viciously poor people. That is one reason why the siren song of Communism/Socialism has such a strong appeal there. I believe that this very horrible division of wealth, hearkens back to how most of Latin America was colonized. Here in the U.S., we were primarily populated with people escaping Europe, often as families. looking for a better place to live. Latin America was mostly populated by mercenaries primarily looking to take riches, such as gold and gems, to send back to the motherland, to fill their coffers, and become rich. That is one reason why there is such a mestizo or mixed blood population. These mercenaries often either had no families, or left them back in Europe, and saw the native women as simply bodies to keep them warm and satisfied. These conquering mercenaries appropriated vast estates, and the native and mixed population suffered in servitude.

Being an oil based economy, made this even worse (as it is in most oil based economies). In our world, oil is basically free money that requires little effort to earn. This means that the population isn't required to do much to get the money, and the rich and powerful, can expropriate it as long as they throw enough crumbs to the masses to keep them calm. So you can see the promise of "Chavismo" or Venezuelan Socialist has very strong appeal. It promises to bring justice and make right a horribly unfair system, that traps millions in poverty. However, with Chavismo, like other socialist systems, Socialism doesn't make everybody better off, via a more equitable of fair redistribution of the nations wealth. The thing that Chismo has proven, is that no matter what a hell hole your life is under some non socialist system, socialism can make it more miserable and worse.

One reason that Venezuela has been so compliant in enduring the ever worsening economic destruction of Chavismo, is that what they had before was also pretty bad. This is also another reason to cry for Venezuela. While it is natural to think that a government that might be created from those opposing forces that are trying to shed the shackles of Chavismo Socialism,will make things better. The fact of the matter, there is no clear indication that they have any clear idea what to do, other than overthrown Maduro, to fix the mess that Venezuela has become. So while it is nice to see a hope for a better life once Maduro be overthrown, it is highly unlikely.

So maybe not only cry for Venezuela, but pray for her too.

Regards,

George Clay

DesertWonderer
captain of 1,000
Posts: 1178

Re: Cry for Venezuela

Post by DesertWonderer »

From the perspective of the riot police--they're may not be riot police much longer.

https://www.wsj.com/articles/riot-polic ... 1495013403

Spaced_Out
captain of 1,000
Posts: 1795

Re: Cry for Venezuela

Post by Spaced_Out »

Venezuela is now in a death spiral of no return.

Venezuela's Oil Production On The Brink Of Collapse
http://www.zerohedge.com/news/2017-05-1 ... k-collapse

sushi_chef
captain of 1,000
Posts: 3693
Location: tokyo, jpn

Re: Cry for Venezuela

Post by sushi_chef »

"Venezuela’s Socialist Disaster is Being Financed by Goldman Sachs

Avatar

rich • a day ago

The people in Venezuela are starving while the leaders continue to get richer and richer. That is exactly how it would have been here in the U.S. if Obama would have gotten his way. He had all the executive orders in place to remove our freedoms and force us to become like slaves to him but he ran out of time. If hillary the hag would have won the election it would have just continued with Obama actually calling the shots since he couldn't have run for a third term. Mr. Trump stopped all that!

....financing the all-but-failed democratic socialist nation.

The president of Venezuela’s opposition-run Congress on Monday accused Wall Street investment bank Goldman Sachs of “aiding and abetting the country’s dictatorial regime” following a report that it had bought $2.8 billion in bonds from the cash-strapped tyrannical country. The Wall Street Journal on Sunday said Goldman paid 31 cents on the dollar for bonds issued by state oil company PDVSA....

Follow the money because it will always lead you to the truth. Goldman Sachs is a long-time ally of socialists regimes and the politicians (like Hillary Clinton) who prop them up. The more government control a nation exerts on its people, the easier it is for the wealthy corporations and banks to rule the government.
"
http://www.thedailysheeple.com/venezuel ... chs_052017
:-B

Silver
Level 34 Illuminated
Posts: 5247

Re: Cry for Venezuela

Post by Silver »

Who would have imagined that the United States Treasury has this kind of power:

"The sanctions ban dealing in any new debt (or equity) issue by PDVSA and all Venezuelan government debt.

From Treasury:

All transactions related to, provision of financing for, and other dealings in the following by a United States person or within the United States are prohibited:

(i) new debt with a maturity of greater than 90 days of Petroleos de Venezuela, S.A. (PdVSA);
(ii) new debt with a maturity of greater than 30 days, or new equity, of the Government of Venezuela, other than debt of PdVSA covered by subsection (a)(i) of this section;
(iii) bonds issued by the Government of Venezuela prior to the effective date of this order;
(iv) dividend payments or other distributions of profits to the Government of Venezuela from any entity owned or controlled, directly or indirectly, by the Government of Venezuela." (close quote)

The guys in Washington are so corrupt that they think they have the right to tell a sovereign foreigner who happens to be in the US that they can't buy a note from the sovereign country of Venezuela. Oh yeah, I can feel liberty grow every time the Republicans get elected.

Silver
Level 34 Illuminated
Posts: 5247

Re: Cry for Venezuela

Post by Silver »

Cry some more for Venezuela. And America, the pretend land of the free is imposing sanctions on that poor country that only hurts the commoners.

http://www.zerohedge.com/news/2017-10-1 ... t-10439980

Venezuela's Grim Reaper: A Current Inflation Measurement

by Steve H. Hanke
Oct 10, 2017 4:49 PM

Authored by Steve H. Hanke of the Johns Hopkins University. Follow him on Twitter @Steve_Hanke.

The Grim Reaper has taken his scythe to the Venezuelan bolivar. The death of the bolivar is depicted in the following chart. A bolivar is worthless, and with its collapse, Venezuela is witnessing the world’s worst inflation.
Bolivar black market.png
Bolivar black market.png (274.43 KiB) Viewed 644 times
As the bolivar collapsed and inflation accelerated, the Banco Central de Venezuela (BCV) became an unreliable source of inflation data. Indeed, from December 2014 until January 2016, the BCV did not report inflation statistics. Then, the BCV pulled a rabbit out of its hat in January 2016 and reported a phony annual inflation rate for the third quarter of 2015. So, the last official inflation data reported by the BCV is almost two years old. To remedy this problem, the Johns Hopkins – Cato Institute Troubled Currencies Project, which I direct, began to measure Venezuela’s inflation in 2013.

The most important price in an economy is the exchange rate between the local currency and the world’s reserve currency — the U.S. dollar. As long as there is an active black market (read: free market) for currency and the black market data are available, changes in the black market exchange rate can be reliably transformed into accurate estimates of countrywide inflation rates. The economic principle of Purchasing Power Parity (PPP) allows for this transformation.

I compute the implied annual inflation rate on a daily basis by using PPP to translate changes in the VEF/USD exchange rate into an annual inflation rate. The chart below shows the course of that annual rate, which last peaked at 2662.03% (yr/yr) in the beginning of October 2017. At present, Venezuela’s annual inflation rate is 2385.76%, the highest in the world (see the chart below).
Vene_Inflation.png
Vene_Inflation.png (330.68 KiB) Viewed 644 times

Silver
Level 34 Illuminated
Posts: 5247

Re: Cry for Venezuela

Post by Silver »

Poor Venezuelans. Good thing there's Bitcoin.

http://bitcoinist.com/localbitcoins-big ... ign=buffer

Bitcoin’s price spike and increasing adoption have fuelled a Localbitcoins trading surge that has dwarfed any in the cryptocurrency’s history.

$90 MILLION IN A WEEK

Data from Coin Dance tracking trading on popular p2p trading platform Localbitcoins shows that for the week ending Saturday, December 2, almost $90 million passed through worldwide.

The huge uptick puts last week clear ahead of Localbitcoins’ previous busiest week, which occurred mid-September and saw it handle $71 million.

As Bitcoin grows to trade above $11,000 for a third time in a week, entry-level users across the globe have begun to experiment with both trading and ownership. Additional publicity in the mainstream press has contributed to the wave of adoption, with multiple countries posting record highs on Localbitcoins.

Analyzing the Coin Dance data, China notably returned to the platform last week, while countries in which official exchanges are legal but trading has traditionally been low – such as Australia, Denmark and New Zealand – also posted noticeable records.

VENEZUELA’S MOST TRUSTED ON-RAMP

In Venezuela, the market which has become a crucible for mass consumer adoption of Bitcoin as a replacement for sovereign currency, sources report the trend is accelerating quicker than ever.

Stories posted to Reddit refer to citizens selling all their assets to trade for Bitcoin before attempting to leave the crisis-hit country, where foreign currency access is all but impossible.

The chief instrument for the process, as data attests, is Localbitcoins.

@kyletorpey
Interesting post on /r/Bitcoin from a Redditor who compares the different options for storing value in Venezuela.

"I know a lot of people who sold everything they could to leave the country and took their money to bitcoins through @LocalBitcoins."
https://www.reddit.com/r/Bitcoin/commen ... lained_by/
2:03 PM - Dec 1, 2017
2 2 Replies 20 20 Retweets 32 32 likes
Twitter Ads info and privacy
“…Bitcoin allows us to have complete control over our funds, to hide them so bad people don’t know they even exist in our possessions,” a Reddit poster analyzing how Venezuelans are retaining financial stability explains.

Plus we can really easily purchase them or sell them at a 3% exchange fee at localbitcoins, and doing so safely by choosing a seller/buyer who has 100% positive feedback, 1000+ transactions and at least 250BTC volume history on his account.

Figures for fellow p2p platform Bisq also show last week saw a new all-time high of $115,700 in transactions.

Post Reply