You are viewing a single comment's thread from:

RE: US Senate Bill On Bitcoin As Legal Tender In El Salvador

in LeoFinance3 years ago

This reminds me of the Libya/Gadaffi situation. 2009 Gaddaffi announces a movement to put African states onto a new currency based on gold and oil resources produced within Africa in order to remove their reliance on USD. He also suggest that profits from oil resources should go directly to the people in the country rather than the government to be distributed, because corruption within the government meant that the money would never make it to the people. Within 2 years, in 2011, a revolt by the people breaks out, backed by the UN. Gaddafi gets overthrown and killed and the country descends into chaos and mixed factions with no leadership and ongoing civil war.

I'm not an expert on the subject and there are mixed views of course and varying perspectives of the situation. But it all seems very coincidental that anytime a leader talks about changing the status quo, in any way, especially financially, they typically end up being overthrown fairly quickly.

I would not be surprised at all if in the next few years the same sort of thing happens in El Salvador. Hopefully not but we will see.

Sort:  

I remember that story how he wanted to create gold coins standard in Africa. Especially, when USD is kind of standard for oil trades, I wouldn't be surprised if we see something revealed in the future when some classified documents get declassified. I don't think El Salvador is an oil rich country. So, they probably be ok. Once couple more countries start adopting bitcoin, maybe their focus will shift and realize there isn't much they can do about bitcoin.