He only worsened situation for country. Because crypto is not solving any problems. All he have done is made such volatility and uncertainty a part of his country economic problems.
When were talking about the money a country has 25m isn’t very much and seriously won’t go very far. Trust me on this BTC investments won’t be the reason why he defaults.
His skills in leading to it are remarkable tho, together with that bitcoin debacle. I wonder what he will do next, maybe print more money? I mean not bitcoin, as he will not have enough real cash to do that., and its already down, and his country insolvent. Ignoring fundamental financial knowledge ends like that. It would end like that for everyone doing those things he did. He is like all those pink wojaks on 4 chan at this point. Bad at counting. Bad at decision making. Bad at knowing.
Probably he personally will not really care about it tho, he ruins everything, but as in public office with power, he can get as much money as he can. This isnt a proper person in a proper place. Like many others people chose. But people are easily fooled…
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Tourism in EL Salvador is > 30% up and they had for the first time in the history of the country increased their GDP. So he seems to be doing something right.
Their investment is completely inconsequential. All they do is have a stack of Bitcoin to facilitate the automatic exchange of dollars to Bitcoin with their app and services around it. They don’t bet the farm on it, it’s a means to an end, so they can utilize an open monetary network (lightning) as their payment rails, but allow their people to use dollars with it, not Bitcoin. It must be really hard to understand this.
It’s also mainly a giant marketing campaign to attract wealthy Bitcoin tourists and investors. And it seems to work brilliantly.
You think Bitcoin is gambling, we get it. I think you can’t actually understand the difference between a game of chance where the probabilities don’t favor you in the first place and a bet on a technology because of expectations in future developments based on rational arguments.
You said before you had a gambling problem, so if you can’t make that distinction in the first place it’s probably safer for you to just assume it’s gambling. I understand that. But you also have to understand that this makes you completely unfit to have an objective opinion on the topic and it’s also why your “arguments” just aren’t convincing, because it all just boils down to empty “it’s gambling” statements without any justification how it constitutes that, because you just don’t know.
It’s like talking with a blind person about color. I’m sorry, but it feels that way.
Bitcoin is gambling but futures, forex, options, bonds, equities and commodities are not. Makes sense. Go all in on the stock market if you believe in that bs. Now is a great time to load up before a visit the porcelain altar.
Once the state entities get control over the entire crypto ecosystem, suddenly it will be all holy and pure.
“It’s ok when we do it” comes to mind.
The left always chirps…: “go build your own”… ok, we have… now what? Oh right, it’s bad.
The “World Government Summit” had the gall to announce CBDC’s based on “blockchain” like it was their invention and were first announcing it.
The people pontificating and telling you you need to own less, are saying it from a position of 1) power and 2) comfort and wealth security. On top of that, they’re laundering money into the most corrupt regions of the world with the tax payer cheering them on demanding it whilst their food security is plumeting at home. That’s going to end up securing the futures of the corrupt few at the top. Remember, they were wanting crypto and NFT’s to fund them (lol, that’s going right into their pockets), suddenly it was holy and pure then right?
Nothing happens “coincidentially” or “accidentially” in the world political and economic stage.
Cui Bono.
Animal Farm, I thought that was required reading in schools.
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I said months ago, even in this thread that the stock market is a complete bubble. In what world do you have companies with 150k employees, that are worth 1/5 of all the gold? I think people still don’t realize how insanely overvalued this companies are.
Decades of money printing has inflated all the asset to such insane levels it will be brutal if they correct.
Honestly, it doesn’t matter anymore what they do. They can’t stop Bitcoin anymore. I’m not 100% sure if they realize that yet or not. At least the IMF is now in full force trying to suppress adoption in third world countries.
There is no world government. The world is far more disorganized that the picture the whole WEF conspiracy is painting. It is still heavily fractured and we have various big powers that want to hold on to their power, and control over the money printer is an extremely powerful tool.
They will be able to do that for their own country, but I think the important shift will be happening in international trade. Because even more, they don’t want to give control over the means for international trade to another country. At the moment, the US dollar has that privilege, but we can already watch it fall apart. What do you think will replace that? The west will not accept Russian or Chinese control. The Chinese and Russia will take the chance and reject US control. They will all try to push their own CBDC, but will essentially be trapped in their own walled garden, because none of the trading partners wants to use it, but push their own as the new default.
The only way to trade without giving up control by utilizing the CBDC of the other side will be Bitcoin, because it’s the neutral option no one has control over.
I don’t see how this is not inevitable.
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You really think the WEF is fiction? You’re in for a shock.
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The WEF is not fiction. I have seen it, I live in Switzerland. I was actually once in Davos when it happened.
It’s a club for rich individuals to discuss and scheme how they can all stay rich. The WEF isn’t the conspiracy. The conspiracy is all the ■■■■■■■■ and inflated assumptions about how much actual power the WEF itself has. It has none by itself. The individuals attending the WEF have power, but they have all their own agendas and most of them could not give a flying ■■■■ what the weird boomer who organizes actually babbles about because he gets some attention because of it all.
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They have the UN earhole, do you?
They just signed an agreement with the UN. Did you?
No assumption, just their own words.
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And you think the UN has power?
They sure have a lot of influence. That’s power itself.
You probably think the Queen of England has no power too, lol.
Guess you never heard of “lockstep”, career politicans are there because of the tightnit backpatting influence of each other in their power network to get them in power in the first place.
They just happen to mutter “build back better”, “great reset”, “lockstep” individually. Their own ideas, individually conceived. It’s called regulatory power “capture”. Being in the WEF club was a career move for them. Remember, these countries avoid referrendums like the plague.
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It’s just another forum for powerful people to meet, but it has no power on it’s own. This people attending there will act together if their interest aligns, but they seldom do.
Politicians are always the lackeys that do the bidding of the actual powerful people with money. They are just there to sell the little influence they have to the individuals with actual power, not the WEF, that’s just where they meet.
One word scares the bejebus out of politicans, REFERENDUM.
It’s like holy water.
Politician: The people want this
Opposition: Put it to the people then
Politician: No we have super secret intel. We can’t.
Remember also in many of these countries the only recourse people have is protest and revolution (and we know they don’t like protest) as their system doesn’t allow the public to invoke a referendum. The people have no way until the next election (hoping it isn’t corrupted) to change the decisions of the power this side of a scandal and politican recall which is typically a narrow scope and some don’t even have the power of recall.
Not everywhere is Switzerland.
The solution to bad democracy, is more democracy 
Look at some turnout numbers in some places, 10%, 60%… abysmal.
More referendums and let people directly reap the consequences of their decisions and power to change them. Not just a circus every few years.
Yes, it indeed is. Even the mere possibility that one could be invoked is like a Damocles sword hanging over their heads.
Yeah, that’s why I think a representative democracy is a far cry from a direct democracy.
People always just project such systems on the state of affairs that currently exist and don’t see what an effect it has on the political system over the long term. It conditions the politicians over time. If they always have to expect, when deciding on something, that they will get overruled if literally a hand full of people gets pissed about the decision, it completely changes how they make those decisions.
Sadly not, because if you don’t already have that system it’s really hard to get it. And they will tell everyone how that doesn’t work, and that people will always just vote selfish and not look for the greater good like the benevolent rulers they have now who care so much about the future of everyone…
I am good at game of chance, I got everything easily on math lessons and know whats the chance of the game. You can lose even when you have 99% win chance, in one draw you can get the ball that is black, not white like 99 others. The fate favors no one and math doesnt solve the problem of getting bad luck.
But by betting you are intentionally exposing yourself to bad luck, which otherwise you would not be exposed to. Its like with the onion of survivability, first layer is to not be somewhere where you shoudnt be at the first place. The rational arguments against bitcoin in first place is that it is not backed by anything, its worth as much as someone is willing to pay for it, and its reflected in its volatility, which makes it irrelevant how algorithm works, because people dont care how it works, they care about value and hype.
Its not rational in the first place when you see people “investing” in bitcoin on any other crypto.
If it would be about rationality, you would be still buying pizzas for multiple bitcoins.
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Blame institutions such as funds and them twisting the purpose of it from currency and into “investment” in property and regulators also twisting it as “property”. They will never accept it’s a currency.
Bitcoin was always meant to be a currency but that opens up a whole can of worms in banking and government even though there is a long history of private currencies. The real problem is the banks and state doesn’t control it… yet.
Frustrations will arise to the point the people with power will not be able to build wall high enough to keep the crowds out of their homes. Its already happening.
All because those with power were too stupid to rule, being chosen by people who are too stupid to choose wisely.
We’re going to see even more spending, and thus, monetary base inflation. Big government spending isn’t going to go down, it’s going to get bigger. That means, more printing, that means more debasing, that means lower purchasing power. Also, expect more economic wars.
Our UK government announced they would be cutting 90,000 staff in an attempt save money, they will have to provide employment support for many of these people as there won’t be another job for them to go into right now.
Smaller government should be celebrated. The government work has good long term pension plans. They get it further down the road.