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panamajames
Joined 2012
Posts: 5096

6 years ago

Replacing the US Dollar

6 years ago

Venezuelan President Nicolás Maduro announced today the implementation in the country of "a new international payment system" with the creation of a "basket" with currencies such as the yuan, euro, yen, rupees and other currencies that serve as an alternative to the dollar.
"We are announcing that Venezuela will implement a new international payment system and will create a basket of currencies to rid us of the US dollar and with the yuan, yen, rupees, and other international currencies, that will free us from the moorings of the dollar as an oppressive currency in our country," Maduro explained.
The Venezuelan president made this announcement before the National Constituent Assembly (ANC), which proposed eight laws in economic matters in response to the serious economic crisis that crosses the Caribbean nation.
"If they chase us for the dollar, let's go play with the Russian ruble, the yuan, the yen, the Indian rupee, the euro, and the sucre, too, but they will not suffocate us", said Maduro, who attributes the deep crisis that Venezuela is experiencing to the "economic war" that in its judgment pitts the United States against its country.
Maduro was convinced that the decision revealed today will "open the way" to "a new international monetary and financial system that will free itself from blackmail, and imperialist sanctions through the US dollar and the US financial system."
The United States recently adopted financial sanctions against Venezuela over the alleged authoritarian stance of President Nicolás Maduro.

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