Remember when there was this country in the Pacific or something,,, I forget one of those island countries, they always wanted to take away their reliance on US dollar just like El Salvador and they did launch a currency of their own with blockchain?
Well IMF also came to threaten them that if they did that, they would sanction them. Such sour losers!
Topic: And now the IMF comes in! (Read 240 times)
Some real questions to ponder in these cases are:
1. Was IMF even helping El Salvador in real terms? True that IMF has lent some money an given grants to El Salvador, but has it actually worked to uplift the country and create revenue generating avenues in El Salvador?
2. Has IMF tried to resolve the economic difficulties and other burdens of colonized states such as El Salvador?
3. Is IMF being pressurized by central banks and governments that foresee a danger in losing trust on fiat currencies? (Obviously yes!)
1. Was IMF even helping El Salvador in real terms? True that IMF has lent some money an given grants to El Salvador, but has it actually worked to uplift the country and create revenue generating avenues in El Salvador?
2. Has IMF tried to resolve the economic difficulties and other burdens of colonized states such as El Salvador?
3. Is IMF being pressurized by central banks and governments that foresee a danger in losing trust on fiat currencies? (Obviously yes!)
Wake up people, the world as we know it has to change. People need to gain control again.
You start acting like a comedian with your statements that something has to change or happen - because when did ordinary people have control over anything in history? There have always been those who rule the broad masses, only their names have changed throughout history - kingdoms, empires, republics, unions and who knows what else - the minority has always found a way to rule over the majority.
If you want to change the world then you need a formula for how the world works without politicians, banks, police, the military or institutions like the IMF - and they all currently hold the reins in their hands and run the world tightly. In addition, you have an even bigger problem - most people do not want change, do not go to the elections, and are even less interested in demonstrations or any disobedience to the authorities.
In conclusion of all this, it seems that 90% of the people in the world are quite satisfied with 10% of the total wealth at their disposal.
IMF or the bankers, same thing. The last thing they want is to make you rich. If you can be their slave for 30 years why not. Wake up people, the world as we know it has to change. People need to gain control again.
We all know that El Salvador will be successful, by including bitcoin as a means of payment for goods and services in the region. In addition to the development and investment plans that President Nayib Bukele has to execute once bitcoin boosts the country's economy.
I also believe that El Salvador could pay its debt to the IMF if they allow it to achieve its objectives with bitcoin, but the fear of the risks of global financial stability persists for these centralist institutions.
I also believe that El Salvador could pay its debt to the IMF if they allow it to achieve its objectives with bitcoin, but the fear of the risks of global financial stability persists for these centralist institutions.
AFAIK, IMF has been monitoring bitcoin since years ago and if they're bringing up some "issues" for El Salvador's declaration of bitcoin as a legal tender.
Let them do their thing. That's their job to monitor things about monetary and financial matters in each countries.
Let them do their thing. That's their job to monitor things about monetary and financial matters in each countries.
If all they're going to do is actually just "monitor", then sure whatever I'd just let them do their thing. On the other hand, if they end up actually interfering (one way or another), then that's where they'd cross the line.
That's a different thing if they're the one that will stop and interfere whatever El Salvador or any country that's trying to adopt bitcoin.
I remember that one of their official before is a pro bitcoin, that was a woman. That's why I'm familiar with IMF to be a pro bitcoin before and was quite surprised to see this news.
Imagine Bitcoin coming to Venezuela, foreign people buying land and citizenship and investing their BTC in the economy, country would soon pay all debt they have to foreign banks and institutions.
This could happen to other countries and you can now understand why IMF would be worried because they would not be so important factor anymore.
This could happen to other countries and you can now understand why IMF would be worried because they would not be so important factor anymore.
Not gonna happen with a ruler that thinks the economy is a lie and it can be commanded at will. Bitcoin is essentially telling them to go away, goodbye banks, central bank and world bank (IMF). Obviously the opposite of what they believe in, which is how we ended with Petro rather than Bitcoin with the obvious result.
What can we expect from the IMF? We all know that this Global Financial Institution is only a tool to make poor countries suffer more and hook with the debt forever IMF just like World Bank are just instruments to make poor countries followed all they say, Just think a little bit and consider some important reasons, where this financial institution is based? It's pretty obvious they want to protect something. anyway, El Salvador is a sovereign country they can do what they want. It is clear now that some powerful forces are moving now to discredit Bitcoin so let us see what will happens next.
AFAIK, IMF has been monitoring bitcoin since years ago and if they're bringing up some "issues" for El Salvador's declaration of bitcoin as a legal tender.
Let them do their thing. That's their job to monitor things about monetary and financial matters in each countries.
Let them do their thing. That's their job to monitor things about monetary and financial matters in each countries.
If all they're going to do is actually just "monitor", then sure whatever I'd just let them do their thing. On the other hand, if they end up actually interfering (one way or another), then that's where they'd cross the line.
1.Bitcoin cannot make a poor country rich.
2.The International Monetary Fund is a tool,which was created and used by the USA,in order to keep underdeveloped third world countries under control.I don't expect IMF to provide any real help for the economy of any country in the world.
I assume that someone doesn't want El Salvador to turn into a "tax heaven" or "crypto heaven" type of country,so that's why "the powers that be" will apply some pressure to the government of El Salvador and discourage BTC/crypto adoption.
2.The International Monetary Fund is a tool,which was created and used by the USA,in order to keep underdeveloped third world countries under control.I don't expect IMF to provide any real help for the economy of any country in the world.
I assume that someone doesn't want El Salvador to turn into a "tax heaven" or "crypto heaven" type of country,so that's why "the powers that be" will apply some pressure to the government of El Salvador and discourage BTC/crypto adoption.
This development is really worth watching. And if IMF can be successful in reigning over El Salvador and dictate to change its mind on making BTC as a legal tender within the country, then other countries will be discouraged to adopt Bitcoin. IMF is playing its power over many countries. Let's hope that the leadership of El Salvador will stand to their own sovereignty and will not be changing the course of the boat.
I mean, what the heck! What do you want to happen to the beautiful country of El Salvador? To remain stuck in its cesspool?
Can anyone be surprised that the IMF takes such an attitude towards something they cannot directly control? What this little country is trying to do is a real nightmare for the people who rule the world through their financial mechanisms, because centralizing power and creating dependence on someone or something is the way people around the world are controlled.
I do not know if El Salvador has any agreements with the IMF, but it will be interesting to see how their government manages to cope with all the challenges and pressures they will now be exposed to. What I know for sure is that many will criticize their decision and wish them failure, but in the world we live in, nothing else could have been expected.
$6 billion sent by their expatriates each year is a lot of fees for banks and various other money transfer service providers - there is no doubt that part of such transactions will now go through Bitcoin.
AFAIK, IMF has been monitoring bitcoin since years ago and if they're bringing up some "issues" for El Salvador's declaration of bitcoin as a legal tender.
Let them do their thing. That's their job to monitor things about monetary and financial matters in each countries.
Let them do their thing. That's their job to monitor things about monetary and financial matters in each countries.
Let the IMF do their bad sheriff part, this time they can't do anything. The Bitcoin Standard has started in El Salvador and can't do anything about it. Now more than ever we need som DeFi on top of bitcoin so that El Salvador can finance its operations not via some mafia loans from the financial market but in the open ground of BTC liquidity.
International Monetary Fund is actually owning many countries around the world with their banking system that is making people of that countries almost like slaves, and prospect of countries using Bitcoin means that there is hope that debt can be paid and slavery broken.
Just look at IMF website about page and tell me if you really believe they are fighting to reduce poverty around the world, promote employment and economic growth
Many say that IMF and World Bank are just weapons of war and you would better understand why if you look the history of their creation.
Imagine Bitcoin coming to Venezuela, foreign people buying land and citizenship and investing their BTC in the economy, country would soon pay all debt they have to foreign banks and institutions.
This could happen to other countries and you can now understand why IMF would be worried because they would not be so important factor anymore.
Just look at IMF website about page and tell me if you really believe they are fighting to reduce poverty around the world, promote employment and economic growth
Many say that IMF and World Bank are just weapons of war and you would better understand why if you look the history of their creation.
Imagine Bitcoin coming to Venezuela, foreign people buying land and citizenship and investing their BTC in the economy, country would soon pay all debt they have to foreign banks and institutions.
This could happen to other countries and you can now understand why IMF would be worried because they would not be so important factor anymore.
IMF are basically bankers and accountants. I wouldn't have big expectations from them.
El Salvador made a historic step forward. Of course that the established system tries to react and make the things harder. It would be wonderful if more countries would follow El Salvador bold move really soon; that could dilute/nullify whatever IMF is cooking.
El Salvador made a historic step forward. Of course that the established system tries to react and make the things harder. It would be wonderful if more countries would follow El Salvador bold move really soon; that could dilute/nullify whatever IMF is cooking.
I don't understand. 70% of the people of El Salvador do not have access to banking services. This is a huge hindrance to its development as a country. Poverty is rampant. 4 out of 10 are living in poverty with 50% of the "country’s children and teenagers live on less than US $1.25 per day."[2]
If 50% of the children and teenagers have less than 1.25$ US per day how will BTC help here with 10$ transfer fee?
Also I dont think that storing 100% of wealth in super volatile asset is good choice especially if all your wealth is 30$ that you plan to spend on food for next month. -50% in 10 days (dump that we had month ago) and this guy end up with empty plate for last week of month. And he is not able to not eat for 2 weeks because price of BTC is at the "dip"
What would really help El Salvador citizens with $1.25 per day? Wrapped on BSC PAX GOLD as legal tender.
If poverty is rampant, then that also means that they don't have access to electronic devices that is used to access bitcoin in the first place, unless the government has the ability to provide some way for their poor populace to access bitcoin then I think their decision on making bitcoin a legal tender will always be on hot water.
What seems to be the problem with it? Surely, you do not dismiss a development effort simply because it doesn't cater to every single person, do you? After all, such initiative does not put others to a disadvantageous position. As a matter of fact, even if Bitcoin is already a legal tender in the country, those businesses without the necessary technologies are not required to accept Bitcoin payment. The same goes to ordinary people as well. If they prefer to use fiat instead of Bitcoin, they're free to do so. There's still the USD anyway.
I can't say I wasn't expecting news like this to come out after that monumental law was passed. I'm pretty sure it's not just the IMF that has concerns. Even the citizens and local businesses are probably still confused how the law is going to be implemented.
~ the IMF, which is primarily tasked to secure financial stability, promote high employment and sustainable economic growth, and reduce poverty around the world, is now discouraging it.
I mean this is the IMF we are talking about and it's got foreign investors on its back. The organization also facilitates trade among member nations and global monetary cooperation. Their (IMF and foreign investors) concerns are also valid especially when we're talking about financial interest If poverty is rampant, then that also means that they don't have access to electronic devices that is used to access bitcoin in the first place, unless the government has the ability to provide some way for their poor populace to access bitcoin then I think their decision on making bitcoin a legal tender will always be on hot water.
Sure, not literally everyone has smart phones, as with any other country with some certain level of poverty. But it doesn't mean that they shouldn't do anything to at least potentially help the majority. Definitely not all solutions could cover 100% of the population.
If poverty is rampant, then that also means that they don't have access to electronic devices that is used to access bitcoin in the first place, unless the government has the ability to provide some way for their poor populace to access bitcoin then I think their decision on making bitcoin a legal tender will always be on hot water.
Just when El Salvador is trying to address a perennial problem on the access to traditional financial services, and has decided to try easing it out with adopting Bitcoin as a legal tender alongside the USD, the IMF comes in bringing bad news.
IMF is now talking about "macroeconomic, financial and legal issues" just as the sovereign country is looking for means to improve the life of its people.[1]
I don't understand. 70% of the people of El Salvador do not have access to banking services. This is a huge hindrance to its development as a country. Poverty is rampant. 4 out of 10 are living in poverty with 50% of the "country’s children and teenagers live on less than US $1.25 per day."[2]
El Salvador's situation couldn't get any worse. And now that they are trying to experiment with something which could probably address a significant facet of the nation's problem, with something which is completely free from control, politics, internal power struggles, abuse, manipulation, and so on, the IMF, which is primarily tasked to secure financial stability, promote high employment and sustainable economic growth, and reduce poverty around the world, is now discouraging it.
I mean, what the heck! What do you want to happen to the beautiful country of El Salvador? To remain stuck in its cesspool?
[1] https://www.bloomberg.com/news/articles/2021-06-10/imf-sees-risks-in-el-salvador-law-making-bitcoin-legal-tender
[2] https://www.humanium.org/en/el-salvador/
IMF is now talking about "macroeconomic, financial and legal issues" just as the sovereign country is looking for means to improve the life of its people.[1]
I don't understand. 70% of the people of El Salvador do not have access to banking services. This is a huge hindrance to its development as a country. Poverty is rampant. 4 out of 10 are living in poverty with 50% of the "country’s children and teenagers live on less than US $1.25 per day."[2]
El Salvador's situation couldn't get any worse. And now that they are trying to experiment with something which could probably address a significant facet of the nation's problem, with something which is completely free from control, politics, internal power struggles, abuse, manipulation, and so on, the IMF, which is primarily tasked to secure financial stability, promote high employment and sustainable economic growth, and reduce poverty around the world, is now discouraging it.
I mean, what the heck! What do you want to happen to the beautiful country of El Salvador? To remain stuck in its cesspool?
[1] https://www.bloomberg.com/news/articles/2021-06-10/imf-sees-risks-in-el-salvador-law-making-bitcoin-legal-tender
[2] https://www.humanium.org/en/el-salvador/
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