Alex Christoforou
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of this site. This site does not give financial, investment or medical advice.
IMF targets El Salvador after making Bitcoin legal tender
****News Topic 438*****
El Salvador president’s bitcoin push casts shadow over IMF efforts
https://www.reuters.com/technology/el-salvador-presidents-bitcoin-push-casts-shadow-over-imf-efforts-2021-06-07/
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of this site. This site does not give financial, investment or medical advice.
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 »
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 »
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.
Not a bit surprised.