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IMF targets El Salvador after making Bitcoin legal tender

IMF targets El Salvador after making Bitcoin legal tender

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El Salvador president’s bitcoin push casts shadow over IMF efforts

El Salvador president’s bitcoin push casts shadow over IMF efforts

A push by El Salvador’s President Nayib Bukele to make his country the first in the world to formally adopt bitcoin as legal tender has sparked concerns about the outlook for its programme with the International Monetary Fund (IMF).

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Helga I. Fellay
Helga I. Fellay
June 11, 2021

This decision by Bukele makes sense, now that I learned that Bitcoin can be used by criminals for money laundering purposes and tax evasion. A close Salvadoran friend of mine, whose family still lives in El Salvador, has informed me that Bukele has secretly allied himself with El Salvador’s ruling criminal street gangs, who “sell” their protection (much like Sicilian Mafia bosses from the Godfather films) not only to businesses, but also to private citizens, including poor citizens who, if they want to stay alive, must pay and do pay. In other words, switching to Bitcoin helps the gangs, not… Read more »

Ozymandias
Ozymandias
Reply to  Helga I. Fellay
June 12, 2021

Most criminal activity is done in fiat currency, dollars,euros, sterling etc,many countries including yours I guess Will have a digitised form of the currency that you have in your bank,that means you can Never be off the grid,the government can monitor your every transaction,just say you want to give your money to a controversial political party or a Trump endorsed candidate for office,you then may fall foul of any kind of social credit system, indeed you may Not have access to your hard worked for funds,this is Not sci fi,this is the near future,Communist China is already has a system… Read more »

Last edited 4 days ago by Ozymandias
Helga I. Fellay
Helga I. Fellay
Reply to  Ozymandias
June 12, 2021

I made no mention of “most criminal activity” in the world in general. My post referred strictly to El Salvador and what’s happening there, and the possible reason its dictator decided to switch from the US dollar to Bitcoin. Try to focus.

Color me jaded
Color me jaded
Reply to  Helga I. Fellay
June 12, 2021

Not a bit surprised.

Lasight
Lasight
June 12, 2021

Dems are always cleaning up after rightwards’ messes. Roosevelt, Obama, Biden are only three samples of Democrats literally saving the USA from going under because of rightwing greed, selfishness, corruption and incompetence…http://www.top6jobs.com

Helga I. Fellay
Helga I. Fellay
Reply to  Lasight
June 12, 2021

and who is supposed to save the US from going under (as it currently is) because of Dem greed, selfishness, corruption and incompetence? You are barking up the wrong tree.

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