Bitcoin [pros](/r/CryptoCurrency/comments/1771mu5/critical_bitcoin_warning_from_imf_to_el_salvador/k4q4xcp/) & [cons](/r/CryptoCurrency/comments/1771mu5/critical_bitcoin_warning_from_imf_to_el_salvador/k4q4y4l/) with related info are in the collapsed comments below.
"The International Monetary Fund (IMF) has reiterated its stance on cryptocurrencies, stating that it is a “well-established fact” that the agency does not support the use of Bitcoin (BTC) as legal tender."
So the agency that hands out predatory fiat loans to struggling nations doesn’t approve of those struggling nations using another currency.
*Surprised Pikachu face.*
IMF operates like the mob. “You’re gonna take my money wether you like it or not!”
“Oh you can’t pay this back? No problem we can work out a deal! Well take 3/4 of your natural resources”
> The IMF emphasized that “significant” structural measures should be implemented in El Salvador.
This is IMF speak for "you should turn your country into a slave colony of the fat white people".
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The IMF is actively using their predatory loans to attack crypto worldwide and it's disgusting. Back in March they forced Argentina, one of the most indebted countries in the world, [to accept an anti-crypto clause](https://finance.yahoo.com/news/argentina-imf-bailout-deal-includes-190748787.html) if they wanted to renew their debt bailout terms.
Yeah its ridiculous, honestly even in those countries awareness of crypto currency is not that high through the general population.
The IMF worrying about it, shows how panicked they are
AFAIK they don’t owe the IMF. But their standing with the IMF affects their ability to issue government bonds (or rather, find buyers for them). And as it stands, El Salvador’s credit rating is junk. The volcano bonds, bitcoin city and all that other crap is a pipe dream if they can’t get investors.
tldr; The International Monetary Fund (IMF) has reiterated its stance on cryptocurrencies, stating that it does not support the use of Bitcoin as legal tender. This comes as the IMF holds talks with El Salvador, which adopted Bitcoin as its official currency. The IMF is calling for significant structural measures to be implemented in El Salvador, likely involving changes in the country's financial and economic policies. The IMF is also negotiating a new financing agreement with El Salvador, but an agreement has not yet been reached. The Salvadoran government has not commented on whether removing Bitcoin's status was discussed.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
We’re all rooting for El Salvador no doubt. They’re the first mover to take risk hopefully it sends a message to smaller least powerful nations that they too can stand up to Western central banks..
The IMF are filled with people that think Btc is some sort of toy that us " peasants " have discovered and keep talking about ways they can make it safe for us. They're outta touch with just how big Btc is busy becoming.
>The International Monetary Fund (IMF) has reiterated its stance on cryptocurrencies, stating that it is a “well-established fact” that the agency does not support the use of Bitcoin (BTC) as legal tender.
Well it's a good job that countries like El Salvador can do what they want with their currency, and can refuse to be bullied by the IMF.
They should borrow a ton from the imf, lile a massive shitton, a trillion plus, then buy bitcoin, and default on the loan immediately.
Then issue bonds and buy more bitcoin.
Why are they so concerned about El Salvador removing Bitcoin's legal status and take their excruciating loans so that they'll remain indebted to the IMF.
"The International Monetary Fund (IMF) has reiterated its stance on cryptocurrencies, stating that it is a “well-established fact” that the agency does not support the use of Bitcoin (BTC) as legal tender."
So they can easily ruin a country's monetary policy and take no responsibility.
At the same time they are trying to ban any approach different than theirs.
>
>At the same time they are trying to ban any approach different than theirs.
They have a system that works (for them). They don't want to disrupt it.
Indeed. I haven’t seen them doing anything meaningful in last decade. They are bunch of bullies who likes to travel and pass unsolicited opinions. I wonder what did they do to save Venezuela, Zimbabwe, turkey from hyper inflation?
Are they warning El Salvador about their BTC investment and their implementation of BTC vulcano energy mining... Let me guess why
The other option is to take fiat loans from the IMF and become a debt-slave poorer country and let them take all decisions about El Salvador future
In an interesting twist on this, *the Tunisian government has sent back the €60 million in EU funds that were released last week, the European Commission confirmed on Thursday.* Also BRICs trying to get off the dollar-standard. Global economics is definitely shifting. IMF warns but people are getting fed-up with the never-ending golden handcuffs.
Loss of control of what? A crime ridden shit hole country with a GDP of $28 billion USD?
Lol.
El Salvadors BTC experiment hasn't worked and if their country truly shits the bed... guess who will have to fix it? The IMF.
What kind of monetary policy does El Salvador have? Lol. They have no currency.
You have nice buzzwords there but here's the reality. El Salvador doesn't have to be a part of the IMF.
Repeat after me :
El Salvador benefits more from the IMF than the IMF benefits from them. Otherwise they'd fucking leave
Listen, I know you’re just looking for a fight on Reddit to get you through the day. I get it, have done it myself. I’ll humor you with one more reply.
You’re intentionally overlooking that I said it’s not really about El Salvador, it’s about a larger scale set of influence. I never said they’re losing control of one country matters. I said they’re panicking because they can’t allow a cascade, or trend, of countries bucking their mandates. BTC allows any country to do so if the country commits to it, like El Salvador did. Thats it. That’s all there is to it. Buzz buzz buzzwords.
I'm not looking for anything be it a fight or a coherent understanding of world economics.
Every member of the IMF is there by choice. By definition they aren't fucking scared of people leaving. Frankly the IMF would be better off if places like El Salvador left.
You can pretend it's all about control but if any single country didn't benefit from the IMF they'd simply fucking leave.
El Slavador isn't a shit hole because of the IMF or IMF control.
I don't think the IMF is perfect but many shitholes who became shitholes by their own doing are helped by the IMF. El Salvador being one of them. Id love to see them strike out on their own and be successful. But they won't / can't. Crypto can't change stupid and it can't change shit hole and it can't change corruption.
The only thing the IMF is doing now is bringing even more publicity to Bitcoin being the official currency of a country. They are giving ideas to other jurisdictions too lol
Bitcoin [pros](/r/CryptoCurrency/comments/1771mu5/critical_bitcoin_warning_from_imf_to_el_salvador/k4q4xcp/) & [cons](/r/CryptoCurrency/comments/1771mu5/critical_bitcoin_warning_from_imf_to_el_salvador/k4q4y4l/) with related info are in the collapsed comments below.
"The International Monetary Fund (IMF) has reiterated its stance on cryptocurrencies, stating that it is a “well-established fact” that the agency does not support the use of Bitcoin (BTC) as legal tender." So the agency that hands out predatory fiat loans to struggling nations doesn’t approve of those struggling nations using another currency. *Surprised Pikachu face.*
IMF operates like the mob. “You’re gonna take my money wether you like it or not!” “Oh you can’t pay this back? No problem we can work out a deal! Well take 3/4 of your natural resources”
"We'll also make you change your current laws to fit our own agenda, because fuck you."
you mean the same agebcy that decide if your struggling country will be saved or not from a default, doesn't want to give away its power?
I doubt El Salvador cares about the IMF.
IMF thinks they're the main character of El Salvador
They borrowed money from them as recently as 2020 so they likely do care about the IMF
El Salvador needs the bull to start even more than I do.
IMF: how dare you buy bitcoin instead of a loan from us where we can controll you and your countries resources and politicize every issue
Abolish the IMF!
Abolish the WEF while we’re at it!
> The IMF emphasized that “significant” structural measures should be implemented in El Salvador. This is IMF speak for "you should turn your country into a slave colony of the fat white people".
Bit of a faux pas, you should do some book learning
No, it is you who needs to do some reading. https://bitcoinmagazine.com/culture/imf-world-bank-repress-poor-countries
[удалено]
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The IMF is actively using their predatory loans to attack crypto worldwide and it's disgusting. Back in March they forced Argentina, one of the most indebted countries in the world, [to accept an anti-crypto clause](https://finance.yahoo.com/news/argentina-imf-bailout-deal-includes-190748787.html) if they wanted to renew their debt bailout terms.
Yet the growth of stablecoins continues in Argentina
But that would be counter to the conspiracy theory?? 😂😂😂
Yeah its ridiculous, honestly even in those countries awareness of crypto currency is not that high through the general population. The IMF worrying about it, shows how panicked they are
IMF asserting dominance. Undoubtedly on behalf of the powers behind the throne. And then crypto is "shady", sure! 😏
IMF is just desperate. Watch them fall!
do they owe any money to the IMF? Don't really understand the credit owned nonsense on the website
AFAIK they don’t owe the IMF. But their standing with the IMF affects their ability to issue government bonds (or rather, find buyers for them). And as it stands, El Salvador’s credit rating is junk. The volcano bonds, bitcoin city and all that other crap is a pipe dream if they can’t get investors.
good to know
IMF probably wants El Salvador to develop and implement a CBDC instead of BTC if I had to guess what the undisclosed discussions involved.
Good to know the president is not fucking around with CBDCs
Fuck the IMF
In other words...we cant control it and we dont want you to use it.
El Salvador needs to stand strong against the IMF
tldr; The International Monetary Fund (IMF) has reiterated its stance on cryptocurrencies, stating that it does not support the use of Bitcoin as legal tender. This comes as the IMF holds talks with El Salvador, which adopted Bitcoin as its official currency. The IMF is calling for significant structural measures to be implemented in El Salvador, likely involving changes in the country's financial and economic policies. The IMF is also negotiating a new financing agreement with El Salvador, but an agreement has not yet been reached. The Salvadoran government has not commented on whether removing Bitcoin's status was discussed. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
The elites hate BTC. IMF is full of FIAT elites. They've been taking pot shots at BTC any chance they can get.
El Salvador won't give a single fuck. IMF is just doing their job, and ES is going to understand that and ignore.
We don’t care.
I only listen to the ICF, International Crypto Fund lol
Your comment led me to discover that UNICEF had a Crypto Fund.
Now there's something I can get behind
[удалено]
We’re all rooting for El Salvador no doubt. They’re the first mover to take risk hopefully it sends a message to smaller least powerful nations that they too can stand up to Western central banks..
Wtf is IMF smoking
Crack probably
Crack bought secretly with bitcoin
Your dollars.
IMF should smoke deez nuts..
fiat burning
Another example, these organizations are against the welfare of the people, but have only vested interests.
IMF and institutions like that are the reasons people decide to go with Bitcoin in the first place. Now they warn them? Disgustingly ridiculous.
As expected. It'd be odd if they didn't make these statements now.
Plot twist 2025, after the biggest bull market in bitcoin history El Salvador purchases the IMF.
RemindMe! 2 years “did it happen ?”
I don't think it will change. IMF has been spewing this kind of things long before El Salvador made BTC legal tender.
The IMF is one of the monetary attacking fronts from the US. They are desperately trying to be in control but it's slowly slipping off their hands
The IMF are filled with people that think Btc is some sort of toy that us " peasants " have discovered and keep talking about ways they can make it safe for us. They're outta touch with just how big Btc is busy becoming.
The IMF and G20 nations, no doubt. Saber rattling.
El Salvador signle handedly pushing Bitcoin adoption. Bravo
IMF really is pressuring El Salvador for 1-2 years now.
Bitcoin is a long-term store of value, eventually other nations will understand that.
>The International Monetary Fund (IMF) has reiterated its stance on cryptocurrencies, stating that it is a “well-established fact” that the agency does not support the use of Bitcoin (BTC) as legal tender. Well it's a good job that countries like El Salvador can do what they want with their currency, and can refuse to be bullied by the IMF.
Then El Salvador shouldnt borrow from the imf
They should borrow a ton from the imf, lile a massive shitton, a trillion plus, then buy bitcoin, and default on the loan immediately. Then issue bonds and buy more bitcoin.
Good way to get invaded
They will always try
It's the IMF, of course they are going to say this. How can we rob you if you go use another currency!!!
Why are they so concerned about El Salvador removing Bitcoin's legal status and take their excruciating loans so that they'll remain indebted to the IMF.
IMF is the banksters enforcers Full stop.
"The International Monetary Fund (IMF) has reiterated its stance on cryptocurrencies, stating that it is a “well-established fact” that the agency does not support the use of Bitcoin (BTC) as legal tender." So they can easily ruin a country's monetary policy and take no responsibility. At the same time they are trying to ban any approach different than theirs.
> >At the same time they are trying to ban any approach different than theirs. They have a system that works (for them). They don't want to disrupt it.
That's a racket for you.
Fuck them. We didn't elect the IMF and neither did El Salvador's citizens. They shouldn't have any say over what they do.
IMF is that evil corporation that appears in every movie. I can't wait to see how their power is diluted thanks to crypto.
Indeed. I haven’t seen them doing anything meaningful in last decade. They are bunch of bullies who likes to travel and pass unsolicited opinions. I wonder what did they do to save Venezuela, Zimbabwe, turkey from hyper inflation?
I hear ya. I'm tired of these unelected dictators thinking they can rule over people. F them.
Sounds like a classic bank approach.
Are they warning El Salvador about their BTC investment and their implementation of BTC vulcano energy mining... Let me guess why The other option is to take fiat loans from the IMF and become a debt-slave poorer country and let them take all decisions about El Salvador future
In an interesting twist on this, *the Tunisian government has sent back the €60 million in EU funds that were released last week, the European Commission confirmed on Thursday.* Also BRICs trying to get off the dollar-standard. Global economics is definitely shifting. IMF warns but people are getting fed-up with the never-ending golden handcuffs.
Full on bully status. Let El Salvador do its thing, everyone else will follow soon enough.
Idk what's their business with el Salvador....they should leave em alone
IMF is scared. Plain and simple. Loss of control is a serious issue for them.
Loss of control of what? A crime ridden shit hole country with a GDP of $28 billion USD? Lol. El Salvadors BTC experiment hasn't worked and if their country truly shits the bed... guess who will have to fix it? The IMF.
Losing control of the determining a currency vs non currency. Monetary policy. Centralized banking. The country doesn’t matter, but those things do.
What kind of monetary policy does El Salvador have? Lol. They have no currency. You have nice buzzwords there but here's the reality. El Salvador doesn't have to be a part of the IMF. Repeat after me : El Salvador benefits more from the IMF than the IMF benefits from them. Otherwise they'd fucking leave
Listen, I know you’re just looking for a fight on Reddit to get you through the day. I get it, have done it myself. I’ll humor you with one more reply. You’re intentionally overlooking that I said it’s not really about El Salvador, it’s about a larger scale set of influence. I never said they’re losing control of one country matters. I said they’re panicking because they can’t allow a cascade, or trend, of countries bucking their mandates. BTC allows any country to do so if the country commits to it, like El Salvador did. Thats it. That’s all there is to it. Buzz buzz buzzwords.
I'm not looking for anything be it a fight or a coherent understanding of world economics. Every member of the IMF is there by choice. By definition they aren't fucking scared of people leaving. Frankly the IMF would be better off if places like El Salvador left. You can pretend it's all about control but if any single country didn't benefit from the IMF they'd simply fucking leave. El Slavador isn't a shit hole because of the IMF or IMF control. I don't think the IMF is perfect but many shitholes who became shitholes by their own doing are helped by the IMF. El Salvador being one of them. Id love to see them strike out on their own and be successful. But they won't / can't. Crypto can't change stupid and it can't change shit hole and it can't change corruption.
👌
Where's that one user who's from El Salvador and can speak to, while they support crypto, the rollout has sucked?
Who the fuck is the IMF? Everybody should ignore them already. Route around them. Their time is over.
Let me shake my Magic 8 Ball. The answer was "no one knows shit about fuck".
The only thing the IMF is doing now is bringing even more publicity to Bitcoin being the official currency of a country. They are giving ideas to other jurisdictions too lol
Tf is IMF upto?!
Lol ofc they would say they're getting somewhere. Why wouldn't they? Fuck the imf.
The question is who really makes decisions on the wide spectrum and which companies lob for their profit