pull down to refresh

Bitcoin News Exclusive: Former IMF Insider Breaks Down El Salvador/IMF Dealbitcoinnews.com/opinion/unseen-finance-the-bitcoin-insider/
284 sats \ 2 comments \ @BitcoinNews 31 Mar bitcoin
write
preview
related posts
10 sats \ 0 replies \ @petertodd 31 Mar
Transitioning to a Bitcoin standard, he cautiously suggests, might make governmental actions more transparent and potentially reduce conflict.
The reason is if governments had to tax their people directly to fund wars, rather than print money causing inflation, you’d probably see fewer bombs dropped.
That's an absurd thing to bring up in the context of El Salvador. That whole area of the world hardly fights any wars.
reply
0 sats \ 0 replies \ @Ge 31 Mar
(Quick summary) Unseen Finance: Bitcoin, El Salvador, and the Flaws of Global Finance
• Unseen Finance, an anonymous ex-insider in global finance, offers a critical perspective on Bitcoin, El Salvador's adoption of Bitcoin as legal tender, and the International Monetary Fund (IMF).
• While acknowledging the positive aspects of El Salvador's Bitcoin experiment, such as increased tourism and financial literacy initiatives, Unseen highlights the low adoption rate among citizens and the government's eventual policy reversals due to pressure from the IMF.
• He credits President Bukele's crime crackdown as the primary driver of El Salvador's economic improvements, rather than Bitcoin adoption alone, emphasizing the importance of safety and security for economic growth.
• Unseen criticizes the current financial system's regulatory burdens (KYC/AML) and the ability of fiat currencies to enable irresponsible government spending, suggesting Bitcoin's potential to increase transparency and reduce conflict.
• He advocates for grassroots Bitcoin adoption, emphasizing the importance of individual sovereignty and widespread, bottom-up implementation over institutional adoption for true freedom from the traditional financial system.
reply