El Salvador is Attacked Because They’re Winning

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Winning is being 24 billion dollars in debt and throwing up a bond repurchase hail mary because of the looming default that hit nearly 55% odds of defaulting Jan2023, with a CC rating meaning it’s not under review any more?

At best, “they’re being attacked” to prevent them from squirming out from the boot they placed themselves under, perhaps to serve as an example of what happens when you try to do the same.

What’s odd is all of the rhetoric about “bitcoin stopping bailouts” but what about the new crypto money to bail out El Salvador?

The irony here is that bitcoin is supposed to dampen the bank run that would happen in Jan2023 for citizens… so where does the leader of a country stand on that, when on one hand they support Bitcoin but on the other everyone abandoning El Salvador currency for Bitcoin seems like political suicide.

Would he declare “haha yes the country is defaulting! Bitcoin victorious!” 🙃


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