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Best thing for me in 2025 is discovering your podcast.

On 887: you state the evil of IMF loans and their stipulations on the borrower.

While I agree the IMF is evil, the transaction is just capitalism.

When you are liquid enough to offer El Salvador $1.5B with your *non-evil* stipulations, Bukele will take your money every day.

It’s not political, it’s pure capitalism.

It’s like screaming at Shark Tank for negotiating 30% of the company you like on the show while you thought they should only get 10%.

I’m sure the company would take your offer, but you’re not in a position to make it, so they took the offer actually on the table.

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Discussion

Guy Swann 6mo ago

But the money available isn't honestly or true reserves and the price given isn't an accurate one. Its a systemic fraud that completely changes the conditions and costs for one side of the "agreement."

Capitalism isn't really a relevant element here, because the foundation isn't an honest playing field. It's like saying people can voluntarily agree to any contract they like, but the political system is able to arbitrarily change the meaning of words so your agreement obligates you to things you never agreed to.

In that situation, the act of agreement at the beginning has little to do with what is being enforced later. A very analogous situation is occurring with our money.

furio 6mo ago

The money is broken, I believe is what you’re saying. So then the issuers of the debt have a cheat code where they can issue the Monopoly money and dictate the terms.

This is all true even if we abolish the IMF. If Bukele wanted a loan in gold, to eliminate the inflation risk, and there was a market for it, I bet he would take it.

But the “cleanest dirty shirt” is loaned at the IMF because of deep political corruption since the first time they couldn’t keep us on the gold standard without changing the exchange rate.

The book “fraudcoin: 1000 years with inflation as a policy” is a great historical playbook for the need for hard money that can’t be debased.

Guy Swann 6mo ago

Don’t know the book but will definitely check it out 🙏🏻