pull down to refresh

0 sats \ 1 reply \ @Cje95 27 Feb \ parent \ on: IMF Approves $1.4b for El Salvador and "confines" Bukele's Bitcoin purchases Politics_And_Law
Banks though are rapidly accelerating BTC adopting and for better or worse Tether which is the quickest growing USD bond buyer. Lets say in 4 years the whole US government flips that is 4 years of hollowing out these entities that put profit over people. Not to mention the US would be moronic to kick someone like El Salv our of SWIFT that would be the dumbest move.
write
preview
0 sats \ 0 replies \ @Solomonsatoshi 27 Feb
Capture and control of Bitcoin as a speculative commodity under US institutional custody preserves and protects the MoE hegemony of the USD. El Salvadors acceptance of Bitcoin as a currency was/is a threat to USD hegemony and the El Salvador governments accumulation of a Bitcoin stack could potentially have enabled a gradual decoupling from USD denominated trade payments. The IMF debt obligations appear to reduce the risk of that. No reason to throw El Salvador out of SWIFT as long as all El Salvador trade payments remain denominated in USD - it remains a model of USD tribute.
reply