It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
originally posted by: purplemer
a reply to: ketsuko
Uh-huh, you keep telling yourself that. Right now on the streets of Venezuela, the richest man is the one with food. The thing valued most by those around you is what is most important in any local economy, and in an economy of the starving, that would be food or something a well-fed man might take in exchange for food
Research your history before posting. What happens historically to countries that declare they are going to stop trading oil in the dollar.? What is happening here is just the same. As I said this is about oil. Nothing else.
currency is backed 50 percent by oil, 20 percent by gold, 20 percent by iron, and 10 percent by diamond assets
You don't pay attention to world events and just make things up don't you? First the reason they can't use US dollars is because of sanctions placed it was not their decision
Venezuelan President Nicolas Maduro said on Thursday his cash-strapped country would seek to “free” itself from the U.S. dollar next week, using the weakest of two official foreign exchange regimes and a basket of currencies.