Russia and Venezuela agreed to the creation of cryptocurrencies as part of a plan to avoid the effects of international sanctions; however, the background of these currencies goes far beyond the economic and the legal.
The creation of Petro, above all, is a complete economic nonsense in Venezuela. Not only will it not solve hyperinflation or shortages; Nicolás Maduro also intends to create "cryptocurrency farms" while arresting Venezuelans who use them; also aims to set up farms even in prisons. For these and other reasons Petro should not be accepted anywhere in the world.
"We are going to create several cryptocurrency farms, and everyone is going to participate, as well as with the national identity card [...] In prisons we can set up farms; we are going to incorporate thousands of young people "; He said in his speech this Thursday, January 4th.
The American newspaper The New York Times revealed that both governments decided to create cryptocurrencies sponsored by the State, only to evade controls.
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