Colonies are like fake clothes, they wear the badge, but the quality is never the same as the brand these are "designed" to imitate.
El Salvador, according to its president, Nayib Bukele, is a colony of Spain. The country has "papers proving its independence" that are 200 years old but at the same time, the current president sees it as nothing more but a colony of Spain.
El Salvador, however, has a president that seems to care about his people and his country. I don't have any details on his background but watching this short clip from a speech of his in front of the representatives of some more developed countries made me resonate with his words.
It also reminds me of Nicolae Ceausescu and his try of making Romania an independent country, financially and governmentally. The man was killed less than half a year after the announcement that the entire debt of the country had been paid off, making Romania the first and only country in the world to do so.
In the eyes of the IMF, and the oligarchs behind such a fund, we're all colony members, some more privileged than others, but at the end of the day as long as a country is in debt it can't be sovereign in its entirety.
One week ago Bukkele announced that "El Salvador paid in full, 800 million dollars plus interest of its debt" and still HODLing to its Bitcoin, and I bet the IMF is not happy about that. As mentioned above, the bankers and the oligarchs of the world have no interest in any country that is sovereign. The way I see it even America's sovereignty is nothing more but a theater play for as long as America as a nation does not "print its own money".
El Salvador is still an underdeveloped country, but they made an important bet when they made Bitcoin legal tender, about two years ago, and I also hope that their mining facility using volcano energy to mine Bitcoin is going to help the nation's economy in overcoming its colony status.
El Salvador no longer wants to be served food but rather learn how to fish and cook its own meal.
When it comes to industry and agriculture they probably don't have much to offer, as an economy, but as a Bitcoin country, it can create a favorable regulatory environment for cryptocurrency businesses to flourish, and offer incentives for companies to set up operations in the country.
It might be the next "Switzerland of the Bitcoin era". A winning bet for El Salvador is a bet won for Bitcoin because it stands for the exact pillars Nayyib is aiming at building for his country.
Thanks for your attention,
Adrian
