Stop Drinking the Elite’s Kool-Aid – Bitcoin Magazine
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A PDF version of this article is available for download in Spanish and English.
On September 7, 2021, El Salvador became the first country in world history to adopt bitcoin, the world’s new currency.
Remember these words, as they will be engraved in the history of money.
But as of today, in these early days, the opinions are stuck in the buckets as to whether it is a bold move, a smart move, a stupid move or just plain a gamble.
Of course, it was none of the above. It was the only obvious move, the only logical one. For those who understand, the real question is not if other countries will adopt bitcoin, but when.
We are so early in this paradigm shift that a logical move with common sense is controversial; it has many supporters, and many, many critics.
On this occasion, I will not analyze the supporters, but the critics. They can be divided into three groups:
- Those who really believe it was the wrong decision.
- Those who think it’s a good decision, but for the wrong reasons.
- Those who are afraid of our decision.
Now the interesting part is that the first and second groups exist mainly because of the third.
Why?
For the most vocal critics, those who fear and pressure us to reverse our decision, are the world’s powerful elites and the people who work for or benefit from them.
They used to own everything, and in a sense they still do; the media, the banks, NGOs, international organizations and almost every government and company in the world.
And with that, of course, they also own the armies, the loans, the money supply, the credit ratings, the narrative, the propaganda, the factories, the food supply; they control international trade and international law. But their most powerful weapon is their control over the “truth”.
And they are willing to fight, lie, smear, destroy, censor, confiscate, suppress and do whatever it takes to maintain and increase their control over “the truth”, and everything, and everyone.
Just think of the hundreds, if not thousands, of articles about how El Salvador’s economy was supposedly destroyed because of its “bitcoin gambling,” about how we are inevitably headed for default, that our economy has collapsed, and that our government is bankrupt.
Most of you have probably seen this, right? They are over. Every financial publication, every major news organization, every newspaper in the world, every credit rating agency and every international financial organization says the same thing, as if in a choir.
But is any of this true?
Well, you only need to read their articles and listen to their “experts” who said that all this happened after El Salvador lost about 50 million dollars due to bitcoin’s falling price on exchanges. Since we do not sell any bitcoin, this statement is obviously false. But to do a more in-depth analysis, let’s say it was completely true, which of course it’s not, but bear with me.
Really? An entire country’s economy was destroyed by a loss of 50 million dollars?
Yes, El Salvador is a relatively poor country, but in 2021 alone we produced 28 billion dollars in products and services. Pushing the idea that a loss of $50 million – less than 0.2% of our GDP – will destroy or even put the country’s economy in trouble is far beyond stupid; it is revealing.
You would think the financial geniuses at Bloomberg, Forbes, Fortune, Financial Times, Deutsche Welle, BBC, Al Jazeera, The Guardian, The New York Times, The Washington Post, etc., would have enough analysts and editors well versed in these topics to tell them not to publish that nonsense. You would think that these absurd articles would not pass these editors, but they do. And sometimes they even get very large space, like a full-page spread in The New York Times.
So the argument that we’ve lost $50 million worth of bitcoin is false, because we simply haven’t sold any bitcoin. And even if we were to accept that argument as true, it would be ludicrous to conclude that a $28 billion per year economy will go bankrupt or default because of a 0.2% “loss” in one year, when the economy spring of 2021 grew 10.3%, or by $4 billion. This uses the IMF’s own figures!
And even if you want to accept that absurd argument as true, which would mean ignoring math or basic logic, you still won’t ask yourself why these worldwide media companies would give so much time and space to such a small country as El Salvador .
Did they talk about El Salvador before? Did they care about what was happening in our country? Did they report the $37 billion (with ab) that the previous governments stole from our country’s treasury?
Ask yourself these questions; A few years ago, did you know where El Salvador was on the map? Did you know the name of the previous president of El Salvador? Did you know about their failed economic policies?
The answer to these questions contributed to the incredible absurdity of portraying, in hundreds of serious financial publications, that an economy producing $28 billion a year would go bankrupt for a debatable loss of $50 million. That’s all the evidence one needs to see that they’re trying to scam you.
In fact, these are the real numbers, which are public information and can be found and double-checked quite easily:
In 2021, our GDP increased by 10.3%, tourism income increased by 52%, employment increased by 7%, new businesses up 12%, exports up 17%, energy production up 19%, energy exports up 3,291%, and internal revenues went up 37%, all without raising any taxes. And this year, crime and homicide rates have dropped 95%.
These are real numbers, facts that cannot be distorted by narrative. The only number that can change with their rhetoric is our bond rates, as they depend mainly on the official narrative and the credit ratings of their agencies; more “truth” than the truth.
They have said over and over, in more than a hundred self-accredited publications, that we are unable to pay our debts and are headed for default. We were even ranked as the country with the highest risk of default in the world. El Salvador with more risk than Ukraine. Yes exactly.
So to counter that narrative, we did the exact opposite of not paying our debt; we offered to pay in advance. And that is why this month we are buying all our 2023 and 2025 bonds, which the holders of course want to sell, at market price.
They have also told you that there are large anti-Bitcoin protests in El Salvador; they have been anything but huge. Furthermore, why would my government have an 85-90% approval rating according to every poll conducted in the past year, including several polls conducted by the opposition and several by independent international polling firms, if we handled things so poorly?
By the way, what is your president’s approval rating?
So if you are in group one or two of the critics, my message to you is this; stop drinking the elites’ Kool-Aid and take a look at the facts. Even better, come and ask the people, see the transformations for yourself, walk the streets, go to the beach or to our volcanoes, breathe fresh air, feel what it really means to be free, see how one of the poorest nations in the continent and the former the murder capital of the world is rapidly changing to become the best place it can be.
And then ask yourself; why are the world’s most powerful forces against exactly these transformations. And why should they care?
You see it now, right? The reason for all this is because we are not just fighting a local opposition, or the usual roadblocks any small country can face, but the system itself, for the future of humanity.
El Salvador is the epicenter of Bitcoin adoption, and thus economic freedom, financial sovereignty, censorship resistance, unconfiscatable wealth, and the end of monarchies, their printing, devaluation and redistribution of the wealth of the majorities to interest groups, the elites, the oligarchs, and those in the shadows behind them , pulling the strings.
If El Salvador succeeds, many countries will follow suit. If El Salvador somehow fails, which we refuse, no country will follow suit.
They know this very well, and that is why they fight so hard against us.
Want to play their game?
Or do you want to become aware of the real game?
