Barely a month has passed since Argentina's people elected Javier Milei as their president and now, his Minister of Foreign Affairs has announced that Bitcoin and any other form of crypto can be used to settle contracts. Milei has been very vocal about central banks, calling them a scam, a 'mechanism to cheat the good people through inflationary tax' and further stated that Bitcoin prevents politicians 'from robbing you through inflation'.
Milei hopes to spur investment in Argentina with Bitcoin and cryptos. In the meantime, he's just getting started and has ruffled a few feathers. President Milei plans to eliminate or change some 300 regulations. Of course, the critics (a.k.a. mainstream media) are out in full force instilling fear that the move could threaten jobs and home affordability.
The mainstream media is, to noone's surprise, all over Milei.
The Economist: Argentina's Javier Milei begins his radical experiment in libertarian rule
The Guardian: Javier Milei's radical economic policies for Argentina met with protests
MSN: Streets of Argentina erupt with anger over Milei proposals
Except the Winnipeg Sun: Milei looks to cut costs for Argentina's Miners in broader deregulation push
It should be clear to everyone that the mainstream media is demonizing Bitcoin and anyone who supports it is called a radical this or radical that. Central bankers hate Bitcoin even though I'm certain many of them own some. President Milei is challenging central bankers and calling them out for the fraud they are perpetuating, creating cash out of thin air and then lending it to us with interest applied. This only benefits the super rich and he's pointed that out many times.
Milei hopes to restart Argentina's economy not with their garbage cash but with cryptos. I expect others to follow suit and soon. Earlier this year, El Salvador's President Bukele lashed out at the legacy media over claims the country was insolvent. He proved otherwise by stating his government had just paid off $800M of debt but no one in the media reported on it. As of June 30, 2022 El Salvador had invested $103M in Bitcoin. On November 17, 2022 El Salvador began buying one Bitcoin per day. That was more than a year ago. All those Bitcoins they bought earlier this year have doubled in value.
Go El Salvador! They paid off debt??? Why can't the USA or Canada where I live do the same. In fact, not only does Canada's government vilify Bitcoin but they also sold off all of our gold, of which we once had a healthy 1,000 tons. They did this over many years under the radar of our watchful eyes. It was rarely reported on and they still avoid reporting on it to this day. Incredible!
Bitcoin is the future, FED notes are not. There's a genuine case that each individual Satoshi will equal an American $1 note someday soon. Keep in mind that just because it states $1 on the note doesn't mean it's even worth that amount. The dollar has lost 99% of its purchasing power since its inception in 1913, just in time for the Great War, a terrible war we continue to pay for to this day. The State of Israel was birthed in 1917! Look at the mess there now.
There's only so much Bitcoin to go around. 1 million Satoshis costs about $437. That's cheap, cheap, cheap. Get your hands on some Sats before they all fall into the hands of these nasty Bitcoin Whales. According to CoinGape, Bitcoin whales have dumped over 50,000 Bitcoin in the last week in an obvious attempt to smack the price back down so they can buy it all back and make huge profits. The only way to prevent their fuckery is for us to cumulatively buy Bitcoin, even if it's just $100 worth at a time and hold on for dear life. The less Bitcoin the whales can get their hands on, the better it is for us.
For more info, see reference links below.
Best wishes for the holidays...
Peace and love to everyone!
P.S. Check out my entry in PublishOx's Tectum SoftNotes writing contest, 'Thanks for the SoftNotes, Gramma'. It's a comical take, I know but who knows what the future awaits for us. AND it sure would be nice to win some Etherium, eh?
Previous Posts:
Your P.C.: Good airflow and fire prevention.
Kitco News experiences 'cyber incident'.
Have you seen PublishOx's stats lately?
Bank of England + ECB hold rates steady.
FED holds rates for third consecutive month.
New Milestone: Surpassing 400 Followers!
Out with the old and... in with the old??
Thanks for the SoftNotes, Gramma!
These sponsor links help support my blog. Thank you!
Buy Silver! Visit my eBay channel.
Milk Road - Bitcoin price in real time
Earn free Bitcoin using CryptoTab Browser.
Secure your crypto and get $10 in Bitcoin - Ledger Nano X
Bitify - Buy and Sell Bitcoin marketplace
Videvo - Professional Quality Videos
I'm now also on Substack with new podcasts.
