In 1966, Indonesia's Inflation shot up to 640% . But with a lot of control in govt spending and how it managed foreign exchange, inflation dropped to 10% , within 4 years. This team of new politicians or technocrats during Suharto's time that made this happen are also known as the Berkley Mafia (as they graduated from US Berkeley). In 1998, Indonesia's inflation again shot up to 77% during Asian Financial Crisis. Indonesia has 1/2 Trillion US dollar debt and a $1.186 Trillion US Dollar GDP (positive economic returns). Indonesia's economy is gaining a lot of healthy global attention under Jokowi - and with the addition of Bitcoin into the equation, it can be a great prevention for a repeat of history of high inflation. Indonesia has a strong growing presence with BRICS, and hopefully Bitcoin becomes the peacemaker between US Currency and BRICS trade war.
Discussion
brushing up on South East Asia's history - this part on Indonesia. Indonesia has had both US and Soviet interest from the Cold war days. Both CIA and KGB tried to extend their influence - one way was funding the rebels (excerpt below). In another story, apparently Sukarno, the first president of Indonesia was known for his womenising behaviors, and CIA and KGB both tried to threaten to expose his sexual videos. Legend has it he responded, asking for extra copies instead. He was eventually ousted for a more pro democratic president Suharto.
Fast forward to today, Indonesia is still a big attraction to the US and Russia - but this time through currency trade war. At the same time, Jokowi is seen as global peacemaker. I think the growing nature of Bitcoin in Indonesia would be a great position to spread Bitcoin and peace through global trade.
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