I'm not aviven but at least apelopus claims not to have received his petros:

Where did you find this number? Not even Maduro claims that the petro has raised that amount.

But in the list all amounts have 6 digits from 0 to 9. Don't the amounts you and the other person got agree with one of the amounts in the list? (Except for the trailing 0 in the case of the other person of course.)

http://explorer.nemchina.com/#/s_account?account=NBC2LLR5W2NSH6MYI7O6PT7OF34CSL55L27ZXTQZ

Could it be that this other person received an amount which according to the list in http://explorer.nemchina.com/#/s_account?account=NBC2LLR5W2NSH6MYI7O6PT7OF34CSL55L27ZXTQZ ends with zero?

They are offline unfortunately.

Congratulations! Would you like to share how much you paid for one petro?

Venezuela doesn't have far too much oil if you take into account dwindling production, internal consumption, obligations from oil-for-cash deals and its need for foreign currency. A deal with India with a discount of 30% would mean that either internal consumption is reduced further, obligations of oil-for-cash deals are not fulfilled or sales with 100% payment are changed to sales with only 70% payment.

No. And as long as Maduro and his combo are in power there won't be one.

We don't know. Maduro claims that 3.338 billions of dollars were collected through the presale. He pointed out that these were the result of negotiations with big companies and investors. What exactly were the terms of agreement of such negotiations (and whether they really exist) is not publicly known. Take for example the "transactions to import worth 1.738 billion dollars", which according to Maduro are part of those 3.338 billions collected. These might be just promises to deliver goods in some future and accept then petros (possibly with a discount).

He also said - on April 26 - that he decided to give 1 billion to the central bank to increase the international reserves "immediately, tomorrow at the first hour". International reserves 26 of April: 9,874 million USD, on 2nd of May 9,920 million, difference 46 million. One possible explanation: They just don't have received the 1.6 billion USD in cash, he boasted about.

This is a tweet of Maduro himself, showing also part of his speech of April 26: https://twitter.com/twitter/statuses/989958118661640192

In the speach he affirms that "3,338 billion dollars have entered". ("Han ingresado 3 mil 338 millones de dolares.")

Later on he explains that "we made transactions to import worth 1,738 billion dollars" and "1,6 billion dollars cash, cash, in various currencies, in ready money then."

Of these 1,6 billion dollars he decided to give 1 billion to the central bank to increase the international reserves "immediately, tomorrow at the first hour":

"De estos mil 600 millones de dólares he decidido entregarle al Banco Central de Venezuela para la reservas internacionales, aumentar las reservas internacionales de Venezuela y fortalecer el Dicom de inmediato, mañana a primera hora, mil millones de dólares al Banco Central de Venezuela para jugar con la subasta del Dicom".

I don't know how he could give 1 billion dollars to the central bank the next day if Venezuela hadn't received this money in actual payments.

You can watch the full speech at: https://www.pscp.tv/w/1MYxNpykLPpGw

(Of course I don't claim that anything of what Maduro is saying is true. I just want to point out that the official "information" is, that foreign currency worth 3,338 billion dollars acutally entered the country.)

The original source for this news seems to be:

http://www.business-standard.com/article/markets/venezuela-offers-india-30-discount-on-crude-but-with-cryptocurrency-rider-118042900018_1.html

They also claim that the petro will only be launched after the elections.

The announcements of 26 of April clearly were about (alleged) pre-sale sales.

Remember? According to the white paper presale ended on 19th of March and the public initial offer started on 20th of March. Then, on 22nd of March Maduro announces that with the end of presale the initial sale starts on 22nd or 23rd of March, and that from that day onward all natural and juridical persons would be able to buy petro online. Well, on 26th of April Maduro tells the world that “yesterday” with the end of the “first presale” petros worth 3.338 billions of dollars were sold. He pointed out that these were the result of negations with big companies and investors. From “today on” (that is: only beginning with 26th of April), small and medium investors  will be able to buy petros.

According to the white paper during presale, given the discounts offered, only petros worth around 1.8228 billions of dollars could be sold.

The normal one, bereft of all power, with a majority of the opposition and the fraudulent one controlled by the government.

You are mixing up the National Assembly (legitimate parliament) and the "Constituent Assembly", a body set up to rubber stamp the proposals of the government.


There is no reliable public information on that.

Of course not. Why should the increase of the money supply in 1988 explain the inflation from 1984 to 1991?

Hyperinflation ended with the presidency of Violeta Chamorro because of a change in fiscal and monetary policy, not magically.

Pascualina Curcio is a lady who lacks a basic understanding of economics but is very busy to defend her thesis of induced inflation with unfounded arguments. Just one example:


The Nicaraguan Central Bank publishes its monetary statistics without indicating in which years redenominations took place. February 1988 a new córdoba was introduced removing three zeros. Comparing the money supply 1987 (in old córdobas) with the money supply 1988 (in new córdobas) one arrives indeed at a decrease of around 88-89%. Only of 88-89% because the money supply in the new currency was immediately increased again. The actual increase of the money supply by more than 12.000% in 1988 explains very well the high inflation of that year.

To be precise: Inflation is “normally” explained by an excess of the money supply including for instance demand and saving deposits etc. A shortage of cash (notes and coins) is not at all contrary to the “normal” explanation. Total money supply increased enormously in Venezuela.

There’s no commitment whatsoever by Venezuela that it “will return the value/price of a venezuelan barrel of oil in the international market for each Petro you have”. Not in the white paper, not in any decree, nowhere.

Electricity is so cheap because it is heavily subsidized and sold under its real costs. The electric system of Venezuela is in shambles as shown by rationing and frequent blackouts. From the perspective of the country as a whole the opportunity costs are high, as through mining the precarious supply of electricity is diverged from other essential uses, as for instance live saving operations.