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El Salvador Made Bitcoin Official Currency. Now It’s Backtracking for IMF Loanwww.msn.com/en-us/politics/government/el-salvador-made-bitcoin-an-official-currency-now-it-s-backtracking-for-imf-loan/ar-AA1w7F82
349 sats \ 9 comments \ @StillStackinAfterAllTheseYears 19 Dec bitcoin
The big news here seems to be that the government won't accept bitcoin for tax payments, and will no longer require businesses to accept it. The bigger news is the IMF getting to dictate a country's policy here.
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10 sats \ 0 replies \ @Car 19 Dec
Under the agreement, El Salvador’s government agreed to reduce bitcoin purchases, and it will no longer accept tax payments with the crypto asset. The government’s participation in Chivo, the crypto e-wallet launched in 2021, will be gradually unwound, the IMF said.
Really no reason to move to El Salvador atp if you are a Bitcoiner.
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10 sats \ 0 replies \ @Maximux 19 Dec
I imagine that Max Keiser will not be very happy with this setback in El Salvador regarding the scope of the use of Bitcoin. Has anyone read or seen his reaction?
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10 sats \ 0 replies \ @Solomonsatoshi 19 Dec
Sad to hear this. Still there is probably a limit to how much a small nation can resist the Fiat Debt Slavery Bankers Cartel. El Salvador has exceeded the efforts of any other nation state to date to give its citizens freedom of choice over what MoE they use.
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10 sats \ 0 replies \ @ZezzebbulTheMysterious 19 Dec
Fuck the IMF. Evil fuckers. These bankster criminals will die poor in the fiat prisons of their own construction.
The IMF has got ES by the balls. ES should feign compliance and stack in secret until Bitcoin is more powerful. Shouldn’t take much longer…
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10 sats \ 0 replies \ @000w2 19 Dec
Ugh, stop drinking the elite's kool-aid.
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0 sats \ 3 replies \ @OgFOMK 19 Dec

The reason for an IMF loan:

  1. We owe the IMF already and they only take $USD
  2. We don't want to sell our bitcoin for FIAT $USD
  3. The dark force is very strong and we'd like to leave but we are a government which is just another word for the dark force.
  4. Michael Saylor is borrowing for Bitcoin.
El Salvador’s government agreed to reduce bitcoin purchases
This is a big trap, maybe. They will not be able to buy the same amount of bitcoin because there is a limit to $USD spending for this purpose. But they can buy infrastructure to mine bitcoin.
popcorn is ready.
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10 sats \ 0 replies \ @Car 19 Dec
If he is smart he will use it to buy bitcoin. Will see, on the surface it looks like a dumb move. Only time will tell.
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10 sats \ 1 reply \ @tenshi 19 Dec
https://www.newsweek.com/el-salvador-eyes-3-trillion-gold-mine-beneath-its-soil-1998797
maybe he knows he can pay it back in gold and sell the rest for bitcoin
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0 sats \ 0 replies \ @OgFOMK 19 Dec
Good point.
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