Cryptocurrencies Are ‘Fool’s Gold’ Says Brazilian Political Party
Brazil’s far-left party Partido da Causa Operaria (PCO) issued a warning that cryptocurrencies are “fool’s gold” for the country’s poor population.
According to a report by Portal do Bitcoin, the PCO released a publication on Monday warning users to avoid cryptocurrencies and calling bitcoin a type of financial scam. The publication claims bitcoin was invented to manipulate workers and deliver gains to capitalists.
The publication reads,
It is just another trick to maneuver the poor population. It is one more way to get money out of the people and throw it straight into the pockets of big capitalists.
The PCO compared the role of cryptocurrencies in the international financial market to that of the impact of COVID-19.
The paper continued,
In times of a health and economic crisis, fool’s gold makes it clear that it is one more way to contain the crisis and maintain the gain only for the portion of the powerful capitalists.
The PCO accused Wall Street and London of dominating global markets, referring to these entities as “foxes” n a “chicken coop. “
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