Venezuela’s New Bolivar is Anchored to Cryptocurrency and It Just Went Into Effect

The new bills (2, 5, 10, 20, 50, 100, 200 and 500) are already in the hands of public and private banks. The Sovereign Bolivar will be anchored to the cryptocurrency Petro, which is backed by the oil reserves of the Caribbean country.


The monetary measures announced by the Venezuelan government, as part of the Recovery, Growth and Economic Prosperity Program, went into effect Monday, as the circulation of the Sovereign Bolivar began around the country. The new Venezuelan currency known as the Sovereign Bolivar, whose symbol is Bs.S., has five fewer zeros compared to the

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Are Bitcoins The Future Of Anonymous Campaign Donations?

As its security is called into question, the Bitcoin may yet prove to serve some game-changing functions.

This article is the final installment of a four-part series on the viability and the future of the Bitcoin. Previous installments can be found here, here and here. As the conversation on Bitcoins -- the controversial cryptocurrency that has been the center of a number of federal government seizures -- continues, the realities of this curiosity

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The US Doesn’t Tax Financial Transactions. Here’s Why That Might Change Soon.

Europe gives “Robin Hood tax” momentum toward potential counterbalance against riskier speculation.

  WASHINGTON – A series of rallies, briefings and stepped-up lobby efforts rolled through Washington this week in support of legislation that would institute minor new taxes on the trading of stocks, bonds and derivatives, action on which the United States is lagging far behind much of the rest of the world.  Advocates of a U.S. financial

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Why Does The Marriage Rate Matter?

Those who can’t afford marriage are missing the economic benefits of tying the knot.

Once upon a time, marriage was an expectation. Those who did not “take the plunge” were looked at with suspicion, gossiped about and speculated on from behind closed doors. Today, however, the expectation has faded away. Increasingly, a larger percentage of Americans have opted to either wait to get married or to avoid the ceremony

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Study: ‘War On Drugs’ Failed To Limit Or Control Drugs

Instead, the drug market defied conventional economic wisdom and became cheaper and more widespread in face of law enforcement.

Last week, the United States attorney in Manhattan announced that a former Army sergeant has been charged with conspiracy following a federal sting operation on his team’s attempts on international drug trafficking and targeted assassinations. Joseph Hunter, 48, led a team of former soldiers -- which included former Army soldier Timothy Vamvakias,

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Radical Economic Ideas For Radical Economic Times?

How to have your egalitarian cake and eat it, too.

As the American economy slowly continues its long, tepid recovery in the wake of the Great Recession of 2008, policymakers in Washington remain strangely aloof from problems, long in the making but made worse by the economic collapse, that have become impediments to returning to full employment growth. These problems are threefold: financialization

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