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    El Salvador Defies Odds - Paid Back $800 Million Despite 'Bitcoin Bet'

    January 26, 2023
    President of El Salvador, Nayib Bukele

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    American mainstream media owes El Salvador and its President Nayib Bukele an apology after printing hundreds of articles predicting that the country was going to default on its debt because of its decision to make Bitcoin a national currency.

    While the New York Times ran this headline, "A Poor Country Made Bitcoin a National Currency. The Bet Isn't Paying Off." The Washington Post published an entire Op-Ed warning about the state of El Salvador and how it could default. The Washington Post reported:

    Bukele has paid dearly for his animosity against the United States. In January 2023, the government of El Salvador must pay 800 million dollars in international bonds. Bukele’s first option was to seek financing through the International Monetary Fund (IMF), but after the dismissal of the Supreme Court magistrates, negotiations with the United States – one of the top financiers of the multilateral organization – stalled. — criticized Bukele’s authoritarian actions.

    The impossibility of reaching an agreement with the IMF forced Bukele, in September 2021, to find an unorthodox solution to a fiscal crisis: to convert the Bitcoin cryptocurrency into a currency for legal use. For this, Bukele invested at least 150 million dollars taxed by the people of El Salvador in the adoption of the cryptocurrency. Since then, the country’s financial situation has worsened. By May 2022, El Salvador has become the nation with the highest risk of default in Latin America, behind Venezuela, and its international bonds have one of the worst yields in the world, along with Ukraine and Belarus.

    However, much to the surprise of Western media, El Salvador did not default on its debt. In fact, Bukele announced that the county is paying out the bond in full and with interest.

    Bukele is now criticizing the media, saying, "they lie and lie and lie, and when their lies are exposed, they go on silence mode." He also has "the receipts" to support his statements.

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    The mainstream media is not responding to Bukele's criticisms, naturally. While El Salvador will never get the apology it deserves, at least it has a leader willing to call out the media on its lies and a much more stable national currency than expected.



    Jen Snow

    Jen Snow is a former paralegal turned freelance writer who has a passion for foreign affairs. When not writing, she can be found curled up with her dog and a good book or outside playing in the Florida sun.
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    Tom SteChatte

    Congrats to El Salvador for taking responsibility for its own problems, rather than to beg for another handout. But Bitcoin, et. al. is NOT a long-term solution for any country wishing to be an actual country. Sovereignty cannot be attained if the nation's entire money supply is controlled by a computer program that is literally managed by hundreds of thousands of co-located Chinese slaves in physical warehouses. Yeah, so much for "blockchain"--great idea until the Chi-coms realized, "Hey we got a bunch of slaves that aren't' doing anything useful for us right now, who can data-mine for a lot cheaper than disparate, fat, basement-dwelling, 40-yr-old virgins across the West.


    It's obvious that the media lies. The media is 95% Jewish and they, as everyone knows, always lie. The entire prosperity of this tribe is built on lies. Lies about the holocaust, lies about others, fake currencies (USD) and fake banks (FED).

    Robert Anthony

    This comment is irresponsible and totally biased. It’s also not totally accurate. I will agree that there are many (irreligious) Jews in media, in LA and New York… but all the crazy talk about the holocaust is way out of line. I personally have had friends and family very involved with the suffering in Germany WW2… You are simply believing some very wacky conspiracy theorists who are extremely far from reality. Hope you reconsider…

    Phil Inman

    Mr. Anthony, Coming up on ten years ago after I sold my small contracting business I took to looking at the internet for the first time. I got hooked on the Kennedy assassination. Difficult to figure the truth. There are many false lines of evidence. Information concealed. Fake evidence, Cover ups lots of that. Well OK I made up my mind Oswald didn't do it alone. I learned more too but got tired of it and literally asked myself "What else is controversial I can look at?" Like a light bulb in a comic strip "the Holocaust". OK so first youtube video I watched was -David Cole in Auschwitz.- David Cole a Jew takes a private guided tour of Auschwitz. Goes into the supposed first Gas Chamber there. This makes no sense. Anybody could see that little area had never been fitted up to be a gas chamber. And from there I looked at more and read a bunch on the topic.

    Holocaust not like Kennedy with CIA coverups, a prepared patsy, a compliant media and more. Eventually I learned enough that I pretty well know who killed Kennedy. But it just took a few hours to see right straight through the Holocaust. Yes the Jews suffered during the war. So did a lot of other people. This is not a difficult study but there is quite a bit to learn. And nobody you knew saw a gas chamber. Cuz were none.

    Robert Anthony

    I love this man! Courageous! Honorable!! Where on earth did he come from!!?

    Great article!
    Thank you for sharing


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