MultiversX Tracker is Live!

South Carolina state treasurer went on a fact-finding trip to El Salvador. No mainstream publication covered it because he found out "what the critics have been writing from New York, London and Paris did not match what I saw in El Salvador"

All Cryptocurrencies

by COINS NEWS 115 Views

South Carolina State treasurer Curtis Loftis Jr.'s visit to El Salvador on a fact-finding trip was reported only by the local Charleston City Paper.

https://charlestoncitypaper.com/loftis-used-digital-bread-to-buy-bread-in-el-salvador/

If you're wondering how a fact-finding trip by a state treasurer went completely unreported in US media, you only need to read what he had to say about his experience there.

Loftis said he found it interesting that many Salvadorans who don’t have bank accounts use bitcoin as part of their small businesses one year after the Central American country adopted bitcoin.

“After 100 years of modern banking, between 15% to 20% of the country uses bitcoin and 80% of the people do not have bank accounts,” the treasurer said. Bitcoin makes it easier and cheaper for Savadorans abroad to send money home to their relatives, he added.

“We heard multiple stories about how street vendors have embraced this technology and significantly grown their businesses as a result... What I’ve learned in El Salvador is that what the [critics] have been writing from New York, London and Paris did not match what I saw in El Salvador.”

Loftis also talked about how he was excited to ponder the prospects of South Carolinians, especially in rural areas benefiting from using bitcoin.

Now let's debunk the only things that western media actually publishes about El Salvador.

If you're in the US or Europe, you probably never read anything positive about El Salvador.

Western media: Bukele is a dictator

He was democratically elected and has 89% independent approval rating.

Western media: El Salvador is ruined because of Bitcoin

$50 million bitcoin investment, $352 million tourism income in first quarter of 2022, surge in foreign investments thanks to exposure from adopting Bitcoin.

Also, thanks in part to volcano energy and mining bitcoin, El Salvador became more competitive with their energy costs and went from importing 22% of its energy to a net exporter of energy this year, exporting $33 million between January and August.

Western media: Bukele is throwing political enemies in jail

He's literally the first president in El Salvador history to tackle gang violence.

Largest ever crackdown on violence (at the same time US violence is trending up)

Western media: El Salvador is a dangerous hotbed of violence

El Salvador hasn't had the highest homicide rate in the world since a few years ago, since the Nuevas Ideas government. Bukele came into office in summer of 2019 and El Salvador's homicide rate dropped 59% in 2020. He ran on a platform of putting a stop to the rampant corruption and violent crime in El Salvador and now a lot of the violent gang members in El Salvador have been locked up.

On 20 June 2019, Bukele announced his "Territorial Control Plan" which would increase policing of certain areas of the country in an effort to combat high crime rates and gangs in the country. He also equipped the National Civil Police and the Armed Forces of El Salvador with better firearms, ammunition, and vests as a part of the Territorial Control Plan. As a result of Bukele's Territorial Control Plan, El Salvador's homicide rate is now at a historic low. Some US cities now have a substantially higher homicide rate than El Salvador.

The homicide rate of each of these 50 US cities is multiple times higher than the homicide rate of El Salvador.

Bukele's government is not even trying to control their own country's currency and adopted an open, globally accessible money. What other option do they have? Be a slave to US and IMF? Bitcoin is a no brainer for countries where their own currencies have collapsed or phased out.

El Salvador attracts such obsessive concern trolling in western media by US backed IMF gangster banksters for a reason. No oppressor likes losing control. Funny how much the western media suddenly started caring about El Salvador but will not report anything positive about the country even coming from an American state treasurer on a fact-finding trip.

submitted by /u/KAX1107
[link] [comments]
Get BONUS $200 for FREE!

You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.



Comments