Global Elites Are Furious: El Salvador’s Bitcoin Gamble Is Paying Off – Here’s Why
The Saviour
That, of course, is the literal translation. El Salvador, the tiny Latin American country that is now the safest country in the Western hemisphere, gave the middle finger to the IMF, World Bank, and global monetary terrorists, instead opting to finance operations by issuing Bitcoin bonds.
And the result? It has paid off. Handsomely.
No word from the IMF, who have relentlessly criticised the path taken.
Something else. Please pay attention, because the world that you likely think you live in is not ACTUALLY the world you live in. The media, the political class, the shills — they all create an illusion for you.
Take a look at safety. Arguably one of the most important factors in economic growth. Of the Western countries, Norway is the only one in the top 10.
I would encourage you to watch the short clip below, excerpted from Bukele’s address at the UN.
In a nutshell, that was why we were down there building networks and getting to understand things better.
In any event, I did find that Google Maps only works so well. In many parts of El Salvador it leads you down a garden path. Fortunately for me, I like garden paths.
They’re exciting and, as it turns out, filled with midgets. I gave these folks a lift up a donkey track road as they were carrying a lot of baggage (on their heads). I learned that they are indigenous. The lass in pink has seven children, and the chap on my right is her husband.
What I did find driving around (it is a small country, and I clocked a lot of mileage) was a lot of infrastructure spending that you could see has taken place in just the last few years, with a lot ongoing. Pretty serious highways are being constructed all over the place.
As well as things such as water treatment plants (Chinese-built and financed).
Real estate is not cheap. It is, in fact, very expensive. I came away with the impression (conversations had with some influential folks) that Bukele is using a Singapore-type approach. But since El Salvador doesn’t have a port to start with, he is targeting blockchain technology and attempting to attract human capital accordingly. This is, I think, the sector to be focussed on here, though as of now, I’ve not any obvious plays, certainly not in the listed equity space. But I will be watching it closely.
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