Threatened by Bitcoin, the IMF is now fighting backfixthemoney.substack.com/p/threatened-by-bitcoin-the-imf-is
123 sats \ 3 comments \ @el_zonte 18 Apr 2022 bitcoin
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12 sats \ 1 reply \ @cryptocoin 18 Apr 2022
The IMF isn’t very “international”. It is dominated by Washington for the sake of Washington and most people in Washington think that the ability to print the worlds reserve currency is a good thing to have and want to keep it that way.
Time and again the US has resisted any attempts to reform the IMF into a truly international organization. When Asia was given more power in 2015 - after stiff resistance from the US for years - it was taken from the Europeans. At least they get to nominate the talking head at the top of the organisation. But that’s all they do really.
Until today the US has de facto veto power within the IMF. So when you see IMF, think Washington.
How the Euro was put into practice afterwards shows the weaknesses of a politics-based monetary system. When the first crisis hit, all rules were thrown over board and the money printer was started.
In March 2022 the IMF made Argentina sign a letter of intent stating that they will stay away from “cryptocurrency” - using the usual reasons.
With an ageing Dollar-system and the SDR nowhere near ready to take over, the bureacrats feel the pressure of Bitcoin. They fear it.
El Salvador, Argentina, India and “other countries”.
This fight has only begun.
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22 sats \ 0 replies \ @bangbang_u_r_done 18 Apr 2022
That is why states don't matter, individuals matters. That is what makes all the difference when you have for the first time a tool that empower the latter.
A tool that don't care about if you are "allowed" or not to use it by the state your trapped in.
A tool that will be seen as such by the people who need it the most, just like you've said, El Salvador, Argentina, India, etc... there where people is most at risk of being robbed by tax, inflation or both is where things will start first and are starting right now.
The only thing that matters is what the people is choosing to do with Bitcoin
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0 sats \ 0 replies \ @DarthCoin 18 Apr 2022
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