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by Shane Trejo, Big League Politics:
El Salvador President Nayib Bukele is clowning on U.S. legislators who are attempting to stop his nation’s plans to widely adopt Bitcoin as currency.
Senators Jim Risch (R-ID), Sen. Bill Cassidy (R-LA) and Bob Menendez (D-NJ) introduced legislation on Wednesday that they claim will “mitigate risks of El Salvador’s adoption of Bitcoin.”
by Corey Lynn, Corey’s Digs:
Dr. Joseph Mercola hosted a phenomenal discussion between finance guru Catherine Austin Fitts and Aleksandar Svetski, editor of Bitcoin Times magazine, to talk about the breakdown of our economy and potential solutions. This was an incredible exchange of information and insights on our current financial system, concerns and questions about how we navigate as a society while tyranny is coming down in full force, and debates on Bitcoin’s role. Both were in agreement on many aspects, but disagreed on some points, while sharing their thoughts and knowledge with a show of respect for one another and a desire to continue this collaboration further with a common goal for all – achieving individual sovereignty.
from 21st Century Wire:
Don’t believe the gloom and doom speeches from the IMF.
Another signal of progress: Bitcoin Beach is now becoming ‘Bitcoin City.’
The people of El Salvador are dreaming of a positive future again.
In this episode of the Keiser Report, hosts Max and Stacy look at the IMF’s recent trolling El Salvador about adopting Bitcoin as legal tender, and the progress made by the new government to create a more financially independent nation. Max also speaks to Roman Martinez, one of the original organizers at Bitcoin Beach, about the IMF’s concerns, their new “Volcano bonds,” and whether or not he believes Bitcoin will harm or help the local community in the long run. Watch:
from Bitcoin Magazine:
The White House wants to bring order to the ‘haphazard approach’ that is currently being employed by regulators to Bitcoin and cryptocurrency.
The White House wants to set out a cohesive set of policies to regulate Bitcoin and cryptocurrencies as currently legislation and its enforcement are scattered across sectors and agencies, according to multiple reports.
The Biden administration will release an executive order in the coming weeks to task federal agencies with assessing the risks and opportunities that Bitcoin and cryptocurrencies pose, Bloomberg first reported.
from Al Jazeera:
The International Monetary Fund’s board urged El Salvador to strip Bitcoin of its status as legal currency due to its large risks, highlighting a major obstacle for the nation’s efforts to get a loan from the institution.
El Salvador last year sought a $1.3 billion IMF loan, but talks have been stymied by the lender’s Bitcoin concerns, and any program would need to be approved by the board.
by John Rubino, Dollar Collapse:
During one particular nasty down-day during the April – May crypto-mini winter, I put out an email alert to my premium list telling everybody to remain calm and keep the bigger picture in mind. At the time I said something like “It is not my intention to step in with a calming letter every time cryptos get beat up”.
Since then, we’ve gone on to fresh all-time highs and when cryptos did start moving again, it happened very fast.
by Sergio Goschenko, Bitcoin:
The president of El Salvador, Nayib Bukele, has confirmed that the country is making investments to secure a geothermal power source for the construction and operation of the upcoming Bitcoin City, which will be financed with the earnings of the so-called “volcano bonds.” Bukele stated there are high chances of finding a well in the area of the Conchagua volcano that will be able to power the whole city by itself.
by Kevin Helms, Bitcoin:
Mexico’s third-richest billionaire has advised people to stay away from fiat currencies, like the dollar and euro, and invest in bitcoin. Calling fiat “fake money made of paper and lies,” he stressed that “central banks are printing more money than ever before.”