N.Y. Times: 'El Salvador's Big Bet On Bitcoin Isn't Paying Off'
CNBC: 'El Slavador's Bitcoin Holdings Down 60% to $60 Million One Year Later'
The Economist: El Salvador's Bitcoin Experiment Is Not Paying Off
Nasdaq.com: Will El Salvador Default On Its Sovereign Debit In 2023?
Yahoo Finance: Will El Salvador Default On Its Sovereign Debt In 2023?
Reuters: The Big Default? The Dozen Countries In The Danger Zone. (In their own words - 'Making bitcoin legal tender all but closed the door to IMF hopes. Trust has fallen to the point where an $800 million bond maturing in six months trades at a 30% discount and longer-term ones at a 70% discount'.)
In my own words, it's time to get rid of the IMF and a few other three letter agencies. The list above should give you an idea that legacy media has turned its attention to El Salvador, claiming it is in danger of default and that making Bitcoin legal tender in the country has 'all but closed the door to the IMF'.
Why are they soooooo concerned about El Salvador? The answer should be obvious. The country turned to Bitcoin and not some central bank printed currency and that has upset a lot of people. No one though is more upset right now than the country's President Nayib Bukele who has lashed out at the legacy media for constantly lying about El Salvador's financial affairs.
In an article published just 8 hours ago on MSN (of all places) titled, 'Bitcoin loving Bukele thumbs nose at media as El Salvador pays off $800M debt: 'They lie and lie'', Bukele stated that legacy news has incorrectly blamed any debt woes on its Bitcoin purchases, claiming the country was close to default.
Oh really???
Then legacy media, please explain how El Salvador just paid off its $800M loan to the IMF plus interest? In a series of tweets, Bukele stated, "Since when the N.Y. Times devoted so much time and space to El Salvador's economic initiatives? It's clear they're afraid. #Bitcoin is inevitable. By the way, they say we're headed to default. Will they publish an apology once we pay everything on time?".
He goes on to complain that after paying off this $800M debt, no mainstream media outlet reported on it. He says he only found one story on the issue, in Spanish from Columbia. Well, now there's two because I'm reporting on it here on PublishOx.
Rarely do they ever apologize so don't expect an apology Mr. Bukele. There is a concerted effort to minimalize El Salvador's attempt to wrestle itself away from central bank control and spiraling debt. The legacy media mocked El Salvador, saying it was close to default and losing money hand over fist regarding their Bitcoin purchases. While the dollar value of Bitcoin has gone down in the last year, it is clearly in recovery mode.
Where will the media be when Bitcoin goes to a million and El Salvador pays off all of its international debts with a few Bitcoin it payed far less for and may even become one of the wealthiest countries in the Americas? What are they going to say when Bitcoin holders around the world go on vacation to El Salvador and not the USA or Europe?
Can you imagine? Travelling to another country and not have to exchange currencies and pay ridiculous fees in the process? This bypasses central bank control and is why the lamestream legacy media is on the offensive because they themselves are all in on the agenda to discredit El Slavador and their visionary young President Bukele. For once, we have a world leader who is standing up to centralized control.
As of June 30, 2022 El Salvador has invested over $103M in Bitcoin and owned 2,381 coins at an average price of $43, 357 each. Starting November 17, El Salvador has begun buying one Bitcoin per day.
I hope to one day visit El Salvador and yes, I'll be bringing some Bitcoin with me. It'll probably be the cheapest yet most luxurious vacation I'll ever have. So looking forward to that day!
Peace & Love to Everyone.
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