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The Prez of El Salvador is a member of the Palestinian Expat community in El Salvador. Its funny. I always hear how terrible El Salvador is with the likes of MS-13 and govt death squads. It must still be better than Gaza or West Bank though if people flee to it from there.
PAYOLLA..... Probably getting BRIVED and heavily from those in charge of the currency move for El Salvador.
Since ES does not have its own currency, it needs the krypto currency to help the government embark in new massive projects such as road, school, hospital construction. Eventually hopefully it can get back its own currency that previous governments gave away.
NJ Brazen_3133 said it 2 posts before yours. . . .
I apologize for the oversight. Interesting! From Gaza! To escape from Gaza tho', it takes $$! I know a number of Lebanese that have moved to Latin America. The richest man in Mexico is Lebanese, Carlos Slim, and I do know there's a small community of Lebanese in Mexico City. And from what I know there's Lebanese in Venezuela. Currently, Lebanon is a basket case, on its way to becoming a Failed State, with 50-60% unemployment. It's a disaster!
This coming week is the 76th General Assembly at the UN (when political leaders or their representatives from around the world arrive and make their annual speech).
With no central bank, and US dollars, it makes sense to try something and spur foriegn investment. Making Bitcoin accepted, as volatile as it is, can spur investments from a new asset class.
I won't get into debates about crypto in general, but Bitcoin is here to stay. I saw that people in ES were protesting, but I don't understand why Bitcoin is the crutch. I don't think it affects the average Salvadoran. I see BTC as a digital competitor to gold and silver, as apposed to a new currency. More of a commodity. Anyone can buy anything with a precious metal, but you still convert it to tender when you cash out. It was a low risk high reward move, because of dollarization. Have private investment build up the infrastructure.
As far as Bukele, I've always had a wait and see approach, because it's hard for anyone to push any positive change in Latin America if he's even clean.
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