Replying to Avatar John Dennehy

Okay, the govt of El Salvador is directly contradicting itself regarding how Bitcoin policy will change as a result of a loan agreement with the IMF

Let me show you. I brought receipts

Yesterday the IMF released a detailed (111 page) document outlining the agreement and supporting documentation

This includes a Letter of Intent (LOI) from, and signed by, the government of El Salvador dated Feb 11th. It outlines various financial reforms they intend to make as part of them asking for an IMF loan [screenshot1/ pages 68-69].

The El Salvador govt details the changes they are proposing, including the line "....as per agreement with the IMF, we will no longer accumulate new Bitcoins in our portfolio." [screenshot 2/ page77]

Clear definitions of what is considered 'the public sector' as well as a mandate prohibiting ANY new bitcoin accumulation (except via seizure) is additionally outlined [screenshot3/ page89]

That was released yesterday. Today, seemingly in response to Bitcoiners reading the agreement and pointing out various changes that were agreed upon, the president tweeted that Bitcoin accumulation is 'not stopping' [screenshot4]

So, WTF is happening? The El Salvador govt is disagreeing with itself--simultaneously saying they will stop accumulating Bitcoin AND that it is 'not stopping'

It's impossible for both to be true
Avatar
Cpt. Charisma 10mo ago

I think there is probably some loop hole or misunderstanding. However, if not, do you think Bukele is more likely to be lying to the IMF or his own people?

Reply to this note

Please Login to reply.

Discussion

Avatar
BitBees 10mo ago

NB is a renegade with big orange #bitcoin balls. I think he is going to try to have it both ways. If he stacks enough Coin, he can pay the vampires back with the proceeds from that.