IMF Shifts Tactics calls for El Salvador to step back from the Abyss
IMF pivoted via a PR message to EL Salvador to directly attack BTC in the global financial press over the past week.
UPDATED Feb 11 '22 - Fitch downgrades El Salvador to Junk
https://news.bitcoin.com/fitch-ratings-downgrades-el-salvador-deeper-into-junk-status-bitcoin-risks/
"BTC's use as legal tender poses risks to the country's financial stability, integrity and consumer protection." = How exactly does FIAT currency provides these protections? Really, how many people still believe this pile of steaming mess?
Step back to Sept. '21 when El Salvador became the first country in the world to adopt BTC as legal Tender. Their President truly wanted to provide for a better future for his country. Not by taking the easy path, the tyranny path and via force, but through open distributed money and true leadership for citizens of El Salvador. Salvadoran President Nayib Bukele’s office did not immediately respond to these new comments.
In the past 6-months El Salvador has accumulated 410 BTC and actually reaching "BTC Whale" status and plans to issue Bonds backed by BTC. Another major milestone for any Country. Think how this threatens the world largest equity markets; bonds. What are bonds traditionally backed by debt? And has that trust ever been broken, sure think back to the 2008 financial crisis what did the President of the US allow at that time? Allowed Bond holders to be bypassed to pay other first - they broke the cardinal rule in finance; trust!
Overt messaging & Overt steps - IMF I am certain had nothing to do with Moody's downgrade of El Salvador debt to junk status (Wink wink) Have no fear El Salvador is blazing a trail with a new security - Bonds backed by BTC. I believe this strikes fear into the heart of the old guard.
Why doesn't IMF force rating agencies to do their jobs properly? Oh yeah, its part of their ruling ecosystem - lists of rules and punishments. Got it!
What is the IMF overlooking? BTC has been legitimized by all the Institutional and Retail investors as well as the finite supply of BTC. It has become a reliable inflation hedge vs the 5000 year old Gold (is the IMF accumulating BTC?). Why did they wait 6+ months since adoption to make over messages? Any chance the covert attacks failed?
Will the IMF attack the State of Texas? I don't envision that ending well for the IMF - the state motto is "Don't Mess with Texas"
https://politics.slashdot.org/story/22/01/28/0817253/texas-governor-candidate-plans-to-make-texas-the-citadel-for-bitcoin
Pretty sure they learned a thing or two since the Alamo
Perhaps the IMF is just pushing on a string?
Summary - Fear breeds dependency while, confidence breeds Independence and self sufficiency which is the IMF pushing? When patterns are broken, new world emerge!!!!
