Venezuelan Workers Urged To Turn Salaries Into Petro, Gold
President Maduro is now urging workers to turn to petro and gold in saving their salaries.
Maduro Wants Workers To Save Salaries In Petro
Venezuela is currently undergoing an economic meltdown. The meltdown has forced residents to migrate from the troubled nation with basic needs becoming an issue. Individuals are now turning to eat zoo animals.
To mitigate the problem, the country under the leadership of President Nicolas Maduro has come up with austerity measures to salvage the situation. However, the measures have not bored the desired results.
And now Maduro has announced that workers should save their money in gold and the petro. The petro is a government crypto launched to salvage the inflation that has skyrocketed. He made the announcement in a salary shake-up on Thursday.
During a televised address, Maduro stated that in the coming days, employees will start receiving bonus incentives that are backed by the petro. The petro will be used instead of the devalued local currency, the Sovereign Bolivar.
However, many questions remained unanswered regarding the petro since it was launched. We have a suspicion that the crypto is not existing. The crypto is backed by petrol. Many sources stated that it might be a scam since its backed by the national oil company that has amassed debts.
The suspicion led to investigations from different media outlets. The latest piece was from a tech publication Wired. In an August publication, Wired stated that the entire petro was a major scam.
Following the reports, Maduro has never responded. While announcing the new bonus package, Maduro maintained that it was only gold and petro that will help the country move out of the current crisis. He stated that the petro is a legal crypto.
To get the bonus in petro, Maduro said that workers should arm themselves with a legal certificate which is easily available. He said that putting money in petro will also play a major role in strengthening families that have been separated through the economic crisis.
Prior to the announcement, Maduro had authorized six crypto trading platforms to operate in the South American nation. However, the reports are yet to be confirmed by the government. The exchanges will begin trading in Petro and other top cryptos. During the petro launch, Maduro said that the crypto will be used as a measure of value.