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Thread: El Salvador becomes the first country to approve Bitcoin as legal currency. End the Fed

  1. #1

    El Salvador becomes the first country to approve Bitcoin as legal currency. End the Fed

    Last edited by James_Madison_Lives; 06-09-2021 at 04:57 PM.



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  3. #2
    Good thing for who?

    El Salvador?

    Hell ya..

    The banks?

    Not so much..
    "He's talkin' to his gut like it's a person!!" -me
    "dumpster diving isn't professional." - angelatc
    "You don't need a medical degree to spot obvious bullshit, that's actually a separate skill." -Scott Adams
    "When you are divided, and angry, and controlled, you target those 'different' from you, not those responsible [controllers]" -Q

    "Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul

    "Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."

  4. #3
    Sounds like a good thing to me.
    "Perhaps one of the most important accomplishments of my administration is minding my own business."

    Calvin Coolidge

  5. #4
    __________________________________________________ ________________
    "A politician will do almost anything to keep their job, even become a patriot" - Hearst

  6. #5
    I get the feeling that the current leadership of El Salvador are terrible, evil people, and the media will begin to tell us all about it sometime soon.
    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
    "Beware the Military-Industrial-Financial-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
    "Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
    "Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul

    Proponent of real science.
    The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.

  7. #6
    Quote Originally Posted by Brian4Liberty View Post
    I get the feeling that the current leadership of El Salvador are terrible, evil people, and the media will begin to tell us all about it sometime soon.
    Well..... It appears they are actually. 70% of the people in the country aren't even sophisticated enough to have bank accounts. Bitcoin fluctuates wildly. It isn't a currency. It is a penny stock. Money has to to have price stability to be useful.


  8. #7
    __________________________________________________ ________________
    "A politician will do almost anything to keep their job, even become a patriot" - Hearst

  9. #8
    Quote Originally Posted by Krugminator2 View Post
    Well..... It appears they are actually. 70% of the people in the country aren't even sophisticated enough to have bank accounts. Bitcoin fluctuates wildly. It isn't a currency. It is a penny stock. Money has to to have price stability to be useful.

    LOL. That didn't take long did it?

    “Dark forces have captured #ElSalvador, where corruption is thick as thieves.”

    Quote Originally Posted by Matt Collins View Post
    Interesting. They make the opposite case of Mr. Hanke above. They claim that international money transfers are less expensive using bitcoin. Maybe they should use dogecoin too.

    And their lesson on inflation at the end is not very complete or Austrian. “Inflation” is purely about prices? Not really...
    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
    "Beware the Military-Industrial-Financial-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
    "Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
    "Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul

    Proponent of real science.
    The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.



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  11. #9
    Quote Originally Posted by Brian4Liberty View Post
    I get the feeling that the current leadership of El Salvador are terrible, evil people, and the media will begin to tell us all about it sometime soon.
    Yeah...I was wondering that. El Salvador could go the way Iraq did after Saddam tried to get off the petro-dollar was well as Libya after Ghaddafi tried to do the same. The silver lining for El Salvador is, considering they are net importers, they don't seem to have anything the U.S. wants. If Venezuela were to do this on the other hand...


    Quote Originally Posted by Krugminator2 View Post
    Well..... It appears they are actually. 70% of the people in the country aren't even sophisticated enough to have bank accounts. Bitcoin fluctuates wildly. It isn't a currency. It is a penny stock. Money has to to have price stability to be useful.
    LOL. Bitcoin has a lot more price stability than some Latin American currencies. And what does the "lack of sophistication" of the El Salvadoran people have to do with the current leadership? The current president was elected in 2019. You can hardly expect him to make that much of a different in the education level of an entire country in 2 years. However there has been a dramatic drop in crime in El Salvador to the point where they can boast about having better crime rates than some U.S. cities.
    9/11 Thermate experiments

    Winston Churchhill on why the U.S. should have stayed OUT of World War I

    "I am so %^&*^ sick of this cult of Ron Paul. The Paulites. What is with these %^&*^ people? Why are there so many of them?" YouTube rant by "TheAmazingAtheist"

    "We as a country have lost faith and confidence in freedom." -- Ron Paul

    "It can be a challenge to follow the pronouncements of President Trump, as he often seems to change his position on any number of items from week to week, or from day to day, or even from minute to minute." -- Ron Paul
    Quote Originally Posted by Brian4Liberty View Post
    The road to hell is paved with good intentions. No need to make it a superhighway.
    Quote Originally Posted by osan View Post
    The only way I see Trump as likely to affect any real change would be through martial law, and that has zero chances of success without strong buy-in by the JCS at the very minimum.

  12. #10
    Quote Originally Posted by jmdrake View Post

    LOL. Bitcoin has a lot more price stability than some Latin American currencies.
    They use the dollar now. Absolutely no reason to use something else. The dollar index had a major fluctuations this week relative to normal. It moved 2%. Bitcoin went up fivefold since the end of last year and then dropped 50%.

    A volatile currency makes planning for the future impossible for entrepreneurs. I am not anti-Bitcoin or crypto. They are speculative assets like Tesla stocks. Currencies- they are not.

    And what does the "lack of sophistication" of the El Salvadoran people have to do with the current leadership?
    The odds that the average person living in a hut will transact in Bitcoin are zero point zero percent. This is all theater.

  13. #11
    Quote Originally Posted by Krugminator2 View Post
    Well..... It appears they are actually. 70% of the people in the country aren't even sophisticated enough to have bank accounts. Bitcoin fluctuates wildly. It isn't a currency. It is a penny stock. Money has to to have price stability to be useful.

    Lol, you didn't hear the circular logic he was using?? He said nobody is going to use bitcoin, so it won't work. They guy asked him, what if they do, then will it work? His answer was they wouldn't use it.. which leads us to:


    Quote Originally Posted by Krugminator2 View Post
    The odds that the average person living in a hut will transact in Bitcoin are zero point zero percent. This is all theater.

    The whole idea is that A LOT more people in El Salvador have smart phones than have bank accounts.. anybody with a smart phone can use bitcoin, thus, bitcoin will be more useful than the dollar for a lot of people in El Salvador.
    "He's talkin' to his gut like it's a person!!" -me
    "dumpster diving isn't professional." - angelatc
    "You don't need a medical degree to spot obvious bullshit, that's actually a separate skill." -Scott Adams
    "When you are divided, and angry, and controlled, you target those 'different' from you, not those responsible [controllers]" -Q

    "Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul

    "Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."

  14. #12
    Quote Originally Posted by Krugminator2 View Post
    They use the dollar now. Absolutely no reason to use something else.
    You didn't pay attention. With being net importers their dependence on the dollar is killing them.

    The dollar index had a major fluctuations this week relative to normal. It moved 2%. Bitcoin went up fivefold since the end of last year and then dropped 50%.
    We are edging towards hyperinflation. Even average Americans are seeing this.

    A volatile currency makes planning for the future impossible for entrepreneurs. I am not anti-Bitcoin or crypto. They are speculative assets like Tesla stocks. Currencies- they are not.
    As long as you can buy or sell with it, it's a currency.

    The odds that the average person living in a hut will transact in Bitcoin are zero point zero percent. This is all theater.
    Most El Salvadorans don't live in huts. And most of the world has cell phones now.
    9/11 Thermate experiments

    Winston Churchhill on why the U.S. should have stayed OUT of World War I

    "I am so %^&*^ sick of this cult of Ron Paul. The Paulites. What is with these %^&*^ people? Why are there so many of them?" YouTube rant by "TheAmazingAtheist"

    "We as a country have lost faith and confidence in freedom." -- Ron Paul

    "It can be a challenge to follow the pronouncements of President Trump, as he often seems to change his position on any number of items from week to week, or from day to day, or even from minute to minute." -- Ron Paul
    Quote Originally Posted by Brian4Liberty View Post
    The road to hell is paved with good intentions. No need to make it a superhighway.
    Quote Originally Posted by osan View Post
    The only way I see Trump as likely to affect any real change would be through martial law, and that has zero chances of success without strong buy-in by the JCS at the very minimum.



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