Mauro is introducing new Venezuelan currency backed by petrol and gold. I think that sounds like a good investment for Sean Penn.
It’s actually a good move.
The ultimate nature of fiat currency is that it has no value. It’s good for growing governments and those that live off of the churn. It’s bad for savers and ordinary people.
As for gold, that folks come back that it’s value is arbitrary, well so what?
Does that mean replacing it with something that only and is expressly of arbitrary value is an improvement?
In this the folks who peddled fiat currencies were in good company with those that advanced Arbitrary government and Administrative Laws over Common Laws ... again, replacing one thing that is deemed arbitrary with something that is expressly arbitrary and could only ever be so is a good game to play for those who never deserved to be trusted in the first place.