Jeff Park

You may remember back in like 2017, 2018, they experimented with the petrodollar and the ways to imagine it through crypto rails.

So this is why I think there's another data point to say Venezuela probably has some Bitcoin and crypto risks because they're very familiar with the technology.

And you're right that they've been selling gold since about seven years ago.

and why would they be selling gold if not to reinvest that somewhere else, right?

As kind of being orphaned from the rest of the global financial system.

It's not to buy treasury bonds, right?

So what are they going to buy?

They're probably buying Bitcoin, I think.

Yeah, indeed.

And this goes back to the trade-offs between gold and Bitcoin, in my opinion.

The other thing people talk about with Maduro's capture in particular is how they rope in the international law regime to whether to say this is good or bad.

And you hear conversations about violations of sovereignty, and you see it especially on some of the left side, even within this country, arguing about his release because it was unfair and a violation of international laws.

What I think people don't realize is international law as a category is pretty nebulous.

And why is it nebulous?

Because it's actually like a code of conduct in which the only thing that really, in my opinion, determines whether something is law is enforcement capabilities.

So like, take for example, like you do something bad at your home and you get punished for it by your parents.

And you know, why is that like a law?

Well, it's a law because like you got punished for it.

So if you can't follow through with enforcement at some level, the argument is more about whether it's illegal or immoral, but it's not about the law itself.

Law always has to have enforcement capabilities behind it.