Home › Commentary and Opinions › ben semchee › Ben Semchee Double-Video Post: Venezuela, Petrocryptos, and Its How Its a Game-changer “Oil prices are going to drop. Mark my words.”

Ben Semchee Double-Video Post: Venezuela, Petrocryptos, and Its How Its a Game-changer “Oil prices are going to drop. Mark my words.”

By Brian in Chicago on May 4, 2018 • ( 0 )

“Get ready, Folks. It’s gonna get exciting.”

More good stuff from my behind-the-scenes guy, Ben Semchee. In these two videos, he goes over how Venezuelan government is incentivizing (sp?) oil customers to buy crude oil from their country with their crypto, the Petro, by offering a 30% discount from the spot price paid in international markets.

Effects:

It advances the implementation of cryptocurrencies and blockchain technology into everyday business
It sets an example for other oil-producers to follow, mimic or refine
It creates competition and pushes non-adopting nations to examine and make changes to how it does business
It creates downward pressures on the global price of oil
It gives the Venezuelan government a means of bypassing the economic stranglehold imposed on them via the acceptance/denial of access to the SWIFT network (used for international payments)
It also reduces the influence of the Petrodollar and its impact as a tool of economic control and manipulation (see above reference to the SWIFT network)

I’ll let some of Ben’s quote frame up the video discussions for you. They are some hot nuggets.

“Oil prices are going to drop. Mark my words. Oil prices are going to drop from OPEC. They have to, because no one is gonna want to purchase oil at the OPEC price when they can go to Venezuela and purchase it at a 30% discount.”

“And if you think that Venezuela is the only country that’s going to do this? HA!”

“Economics 101: deflation systems destroy inflationary systems. Naturally. They just have to exist. That’s it.”

“The Dollar is the tool that the Federal Reserve and global banks use to control the World.”

“The US is will have a Fed Coin. But it’s not gonna be from the Federal Reserve. It’s gonna be from the Treasury. Mark my words.”

“The biggest transfer of wealth goes from the impatient to the patient.”

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