It's sad, but LATAM economy is based on the USD. And I don't see many countries willing to change it except from the El Salvador.
If the politicians are corrupte, it doesn't matter what currency their country use... They will find a way to access the funds
I don't want to read it but It's probably just another tool to extract value from plebs. Everyone's grandma is already making their own shitcoin currency. If they wanted a solid monetary system, the answer would be obvious.
These people have a different mindset. their goal is not fairness or sound money or any of that shit, all they care about is filling their own pocket and cling to what little power they have. it's pathetic
I understand your point and stance of possible new way of coercion and extortion of local people. But it is worthy of the read because it is not completely about new money in that region per se, but about the past coercion of US in south and central America and the control of these sovereign nations by keeping US dollar the tool of control.
Connecting the past with these current developments in this region is very well described and I think that the future could go in more positive direction for this region. The people of south and central America have enough experience with external manipulation, coercion and extortion to create something fair and good for their people and be the example of the world.
There is two primary reasons why i don't think this will work, one is the us monroe doctrine where they consider latin america their vassal states, and two is the amount of corruption in latin america. It may sound good on paper, but the governments of latin america are such thieves they will never be able to do this successfully because that would require them to not steal all the money
the second reason you gave is the main reason why latin america is poor, to much corruption.
I don't think is going to work either.
That's why we have bitcoin.
I think it is uninstructed to describe whole nations as corrupt when the main corruption originates from external manipulation, coercion and extortion. The people of global south are waking up! And yes Bitcoin can definitely play main role here, all eyes are on El Salvador, and Brazil's recent moves to approve Bitcoin is worth to mention and to follow this development
I traveled and lived around the world, so yes corruption is everywhere, fiat money controlled by govs is inherently corrupting. Just to take example of taxes on salary is stealing, thus corruption is everywhere. What you have in LATAM on top of that is the corruption of outside sources, handling these sovereign nations as their backyard territories.
I was born in LATAM, I lived there and travelled there (I visited 6 countries in total for work and pleasure).
Of course I understand that speak on general basis is not correct, but is hard not to do it when we have a systemic corruption installed on our society since forever.
I'm not only speaking about governments, you have corruption on work places (give a promotion to your friend or family) and the streets, on the daily basis of life (skipping the line if is possible for example).
I don't think we as culture will be able to manage our self the finance of our countries, that is why i see in bitcoin a ray of hope. If we can have a incorruptible medium of exchange and SOV we will be THE PLACE to go and live.
btw I know we are not bad people, we are a vibrant culture (music, food, art and love) and by far the most welcoming society on earh, but I also know our flaws.
Corruption in work places you get in Europe, Asia or US/Canada. There are many layers of corruption happening all over the world and everyone has different tolerance level while playing the game in this ponzi fiat scheme to come by.
LATAM is under scrutiny of the imperialist geopolitics of US and broader global north since "forever", so how can you say that a nation, population of real sovereign region, is unable to deal with their own social organization when they didn't have that luxury since being "sovereign"? Just to mention the US imposed "War on Drugs" was a tool to control and destroy LATAM communities and even their own targeted communities within US.
I they decided to use a BTC backed by stable coin (not pegged to the USD, of course) they would blow the USD out of the picture in most of the two continents (Africa and America), while China and Rusia could be doing the same in Asia. Only Europe would remain the fucking slaves of the US that we are.
To where they would get much faster through an intermediate step, backed by Bitcoin, but without its current volatility. I think it would make it easier than it's being for El Salvador, for example.
to quote Jack Dorsey from last appearance:
"The goal is to help the internet realize a native currency, and help the world realize a native currency, an open money we can all see, we can all trust, that's not controlled by a government or corporation.”
btw I know we are not bad people, we are a vibrant culture (music, food, art and love) and by far the most welcoming society on earh, but I also know our flaws.