The International Monetary Fund wants El Salvador to remove Bitcoin as a legal tender.
Imagine how scared are the OG Status Quo lizards that I found more than 25 links from different news stands reporting about how the IMF is speaking in favor of El Salvador and trying to save the country from total economic annihilation.
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Oh Yeah, I'm nowhere near that hardcore of a conspiracy theorist, but calling the elites OG Status Quo Lizards sounds pretty good doesn't it? Also pretty wacko, which is why I am clarifying my position.
I'm not going to write a post about this news, if you want to read someone else's take on that check out the MSM (Mainstream media) links I included at the bottom of this post.
But in case you are too lazy to click on the links, here's a good summary of what they speak about and the narrative they are pushing:
The IMF urges El Salvador to remove BTC as legal tender and to impose more regulations to the wallets of the citizens. Volatility bad, poor ES citizens. BTC equals financial instability and low financial integrity. Poor consumers, bad BTC swings. The people is against BTC and took the streets to protest (untrue btw). FUD driven by China's recent mining regulations. BTC backed bonds to build a BTC city is wacko (might be true if you are ruled by traditional economic standards, but not true at all for you if you are reading this on the Hive Blockchain. Chivo wallet good, as long as it is highly regulated and oversight (this goes against financial freedom btw).
Now that you know the general overview of the situation, I'm going to do is talk about the implications that nobody speaks about in those links.
El Salvador has been wanting to secure a 1.3B USD loan from the IMF to launch things off: A Bitcoin city, BTC backed bonds and much more.
What they are not telling you is that one of the three pillars of this BTC strategy by Nayib Bukele - el Salvador's president - is that capital gains made by BTC transactions and purchases won't be subject to taxes. This by itself means little to El Salvador given that the Bitcoin law was passed by a supermajority in the congress, they actually don't mind missing up on taxes if the people's living status improves.
What this means is that if the Bitcoin Law works, many other countries will follow suit what this tini-tiny little central American nation did, and I'm thinking many presidents are more than willing to push the BTC narrative such as Ukraine, Serbia, Mexico, Brazil, Tanzania, Burundi, Haiti and maybe even Poland.
There are many presidents and countries that are looking closely to how this BTC charade unfolds in El Salvador and are pondering if they should follow that path, after all, if you think there's a status quo among citizens, there is definitely a status quo among nations and believe, more than a handful are eager to break it and establish a new one.
It is more than obvious that the IMF won't lend money to El Salvador to accomplish something that directly and indirectly goes against everything the IMF is fighting to maintain. This means that ES might need to find another way of capitalizing to pull off this stunt.
Oh right, remember that BTC transactions can't be traced and can't be taxed unless converted to fiat? Another Pillar of the Bitcoin Law is to ensure transactions from citizens living abroad to citizens inside the country, these are called remittances and represent around 20% of the country's GDP. How savage of a move against the national banks that get a piece of that 20% as intermediary fees.
Fuck the intermediaries.
Can you Imagine a world without transaction intermediaries? Well, the IMF doesn't want you to, which is why they, along the central banks from all over the world and big corpos are pushing so much against BTC.
In fact, I'm a little impressed that Bukele hasn't suffered an accident yet given how much of a liability he is for the worldwide nation's status quo.
Paying Nayib a visit
Over the last few weeks, I've been pondering how could I approach Bukele in person to talk about Hive using @geekgirl's arguments on this post. I live two countries away and the monetary expenses would be minimal compared to how it would help Hive to be on Bukele's radar. As I was telling @starkerz I've been pulling some contacts from back when I was traveling in the country and I have some family in central America that might help connecting me with someone who might know someone who knows the President. Long shot, still pondering, but the timing of these news couldn't be more perfect. Bukele needs a plan B urgently, could it be a Plan H?
Narrative Link 1, Narrative Link 2, Narrative Link 3, Narrative Link 4
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The giga-chad of Bitcoin Mr. Bukele won't bow down to the IMF. Fuck the system, we can crowd fund it. I wish you all the best in meeting him in person to discuss Hive. I think Plan H is much better for everyone than Plan B.
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I'm pretty doubtful I can meet him in person, but I will try, it is not impossible cause my uncle might be able to hook me up but it's a long shot. If I can just make sure he gets the letter in his hands I'll be more than satisfied. I like how plan H sounds tbh.
I have been here for 5 years trying to convince people to come to hive, and well besides being the crazy networker my dear Erick, everyone here is comfortable, they want everything already in the short term and talk about a place to write they tell you and in what time, so well after 15 accounts paid with my money and there abandoned with nothing, I stopped giving away accounts, I still continue evangelizing who I can but everyone says yes and no one comes.
You want an interview with Chad, well I will give you the route, look for Luisito Comunica he can take you to him.
Good luck dear, by the way when you come let me know to invite you a coffee, pupusas,or climb the volcano of Izalco.
If you get the interview with the Chad please, i Will go with you to get am example of how hive could help.
Best regard, by the way the process of BTC legal tender i am here to View the evolución.
https://hive.blog/@lukestokes
This huy was part of the commite to implement the BTC as a legal tender here AND maybe he could help you to go to the Chad, AND make an interview with him.
Because i am not could help to get am interview with him.
Best regard.
Given that things feel a bit volatile atm I think an "accident" now would just convince people faster away from the current status quo.
If you think you can convincingly present a Plan H and have a plan for getting there go nuts? :D
Oh yeah, I wonder why Bukele hasn't committed suicide by three shots in the back :P
Seriously though, People are tired of governments and what they have become. Crypto is the greatest way to fight back and what's sad is these few people are trying to hold on to something which they F'ed up and abused it's people for so long with higher and higher taxes, pure wastefulness of funds, corruption and more. I love my country and what it stands for what I don't love is how abusive and how many freedoms have been taken. While it might not be as bad as some countries it's still slowly being taken away which is the opposite of progression. Power needs to be restored to people as individuals and less and less in companies and also the government which has been operating as a company for the last number of years.
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I am very affraid that El Salvador will suffer tremendously if other countries do not start to follow their path.
Lately, even Russia thought of Bitcoin to overpass SWIFT exclusion. If they would follow through with Turkey, I am affraid that the Western World will want to ban Bitcoin... And can Bitcoin survive this? Probably but its value might dump in the short term.
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Short term yes, it will be a huge blow if that happens but long term there's no way they can fully stop BTC and that kind of moves generates a Streisand effect and more people will start turning their heads towards this. CBDC's are just a desperate attempt at competing with BTC, and once people realize this hopefully they'll turn a blind eye to fiat.
ES will suffer short term, I wouldn't be surprised if outside forces are trying to dump the BTC price to support the IMF narrative...
Amazing how big corps and governments fight. Tech that is bringing the things they claim to stand on. Development for the people. Am continiously questioning what do governements stand for? What do they want for the people ?
They don't fight for the people, they work for their own interests. The mistake of many people is that they actually think the government and public entities care about our well being and work in our favor.
As soon as I saw this story, I realized what a threat his plan would be to the system. I hope he sticks to it and gets it to work. He also might want to refrain from any flights in the near future. These things have a habit of coming down when the leaders actually try to help their people at the expense of the powers that be...
Remember UN secretary general Dag Hammarskjöld ?
source
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Damn, your links really sent me on a journey down the rabbit hole, I can't believe I wasn't following you, thanks man!
Very interesting! Best of luck to you trying to make that connection. I think it is going to be a tough sell, but all it takes is one domino to fall and then we are off to the races right?
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Just being able to having the chance of selling it will be hard, the actual sell will be even harder, but hopefully I'll find a way. One thing in my way is that I do not know for sure if I need to be vaccinated to enter the country, and that would be a problem for me.
Exactly, we just need to hit the pot once, then the domino effect will move on itself.
Most of the smaller countries don't require the jab. I've got friends who travel to Mexico regularly and have no issues getting there. It's getting back into the US that is the problem. lol I would wager that a forward thinker like this wouldn't have any of those issues. They WANT people to come into their country and feed their economies. Like I said, I'd be more concerned about the rules regarding getting back into your country.
I could be wrong so make sure you check, but pretty sure it won't be an issue for you.
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Ye, in Mexico they don't ask for the jab, and I heard they aren't doing so in Guate but I didn't find any info about Honduras or El Salvador.
Coming back to Mexico doesn't sound so hard, but I am still checking options.
People don't believe me when I tell them this but one person can change the world. Literally. For example, although we don't know who it is, I'm sure it was only one person who screwed up in Wuhan and released the virus on the world. The odds of a scientifically-confirmed altered virus just happening to originate from one of the few places on the planet working on it, are just too astronomical to believe. But the fact of the matter is that person changed the entire planet.
Who's to say that you can't be that person in El Salvador? Most people can't change the world because they'll never try. They already believe they can't so they won't. YOU could be the one who does. Worst-case scenario, you get a hell of a journey and probably a pretty good education on how to go about meeting people in the circles of power.
Win/win in my book. Plus, I'm sure you'd get some interesting posts out of it, so if it doesn't pan out, you'll get some nice HIVE upvotes as a consolation prize. lol
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I think seeing how Bukele handles the IMF request will be very interesting. Bitcoin gets tested in new ways...
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Agreed. Super interested to see how this plays out, and where it goes from here as so many systems of governing and monetary manipulation are breaking down.
That's what the IMF is for, to do what's in its favour but ES has stepped on the throttle on BTC and know all benefits so there's no backing down.
There are so many others that are interested but are just on hold to pull the plug.
I don't expect IMF to give ES any find at all not to even talk about $1.3 billion.
That would be great move to put hive on Bukele's radar, that would be a win-win.
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Yeah, the thing is now they don't even worry about covering their tracks and hiding their true agenda, they are just blatantly open about their interests (and the interests of their owners).
Yeha, that loan is not coming, but I wonder if there is a DAO with enough money to make something similar happen... Not with that amount of money, but maybe a simulation of it to prove it works so that someone then proceeds to loan them the real amount.
I have been following how IMF, World Bank and their associates been hating on El Salvador and their adoption of bitcoin as legal tender. They make no sense.
It is great that you are still planning to talk to Bukele. I hope this happens. Say Hi to the bitcoin president!
The plan is on the table, just need to see if I can prepare the path before getting there. Gotta hurry though. Thanks for dropping by, and also thanks for the votes, I truly appreciate it :D
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Man if somehow Hive would get serious momentum over there, we’re in a good position 👌
The snowball effect would be stupidly huge, no doubt there man.
Very much this.
Where are you? Mexico already???
Never left Canada. If I were in Mexico, you'd know. ;)
Ohh, I thought that by this time you'd be around!
THEY should allow the BTC to be a legal tender that place, that's better, just that they should know how to regulate their country wallet.
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Exactly my thoughts man, but we know the system is going to be protected at all costs by, you know, the system itself and those in high places.
Ok. Thank you
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Let's hope that other countries will follow the same path