Venezuela — now what?
Peering over the shoulder of Financial Times readers (as you do) on the train during our morning commute this week, we noticed more and more on the impact of Venezuela’s recent ‘black weekend’, when the inflation rate increased by more than 60,000 per cent.
The country’s President Nicolas Maduro’s response to the crisis was to devalue the fiat currency (the bolivar) by more than 95% and create a ‘secondary tier’ of currency with the ‘sovereign’ bolivar. To put this in perspective, 250,000 of the original bolivars were worth $1 USD, whereas today, you would need 6,000,000 of them to get yourself $1 USD.
Passive yield
As traditional, state-owned monetary systems continue to lose traction worldwide, Kinesis is able to visualise a scenario which could potentially change our widespread reliance on volatile paper money; during these times of economic uncertainty.
With Kinesis, the currency is based on gold or silver, two of the oldest stores of value. Participants in the Kinesis monetary system will also be able to safely relocate their precious metals to one of seven global Kinesis vaults and spend them via eWallets and the Kinesis debit card and Kinesis Velocity Token (KVT) holders will also earn a passive yield proportionate to the volume of Kinesis debit card transactions taking place around the world.
With the welfare and future of so many families at stake, more and more pro and beginner investors are taking an interest in creating income streams beyond the 401K or the pension. Gather your own information about the Kinesis movement and learn more about fiat vs. cryptocurrencies.
Learn more about the Kinesis monetary system at: https://kinesis.money/
