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Title: [2016-10-02] Venezuela Set For Mass Bitcoin Adoption As China Cuts Off Cash Flow Post by: crossabdd on October 01, 2016, 11:10:25 PM It was only a matter of time until the cash flow from China to Venezuela would dry up. Supporting a country in dire financial straits is very noble, but unless money is returned, it is not sustainable in the long run. Unfortunately for Venezuela, this news could not come at a worse time, as things have gone from worse to near-nightmare levels for residents and enterprises.
It has to be said; China has been doing everything they can to help out Venezuela during these difficult times. Chinese state banks have loaned US$60bn to the struggling country, and there is an outstanding debt of roughly US$20bn that still needs to be settled. Unfortunately, that will not happen anytime soon, as the country has little to no money to spare right now. http://themerkle.com/venezuela-set-for-mass-bitcoin-adoption-as-china-cuts-off-cash-flow/ |