We've been documenting the disgusting nature of the IMF for some time here at the Bent, so today's news that they are forcing the Argentine government to actively discourage the use of bitcoin within the country with the intent of "preventing money laundering, informality, and disintermediation to further safeguard financial stability." The projection emanating from the IMF and the government officials in Argentina is astounding.
The IMF and all other banking entities of its ilk (think the BIS, World Bank, ECB, and Federal Reserve) are the largest purveyors of financial crimes on the planet. The worst of which is overt theft of purchasing power via money printing. As our friend Saif points out, the Argentine people would massively benefit from the "informality" bitcoin provides their economy because the history of its formal monetary system controlled by central bankers and politicians has led to ruin in the form of a perpetual hyperinflationary environment since 1944.
An AVERAGE inflation rate of 192% since NINETEEN FORTY FOUR. The IMF has stepped in many times in the past to help them curb their inflation and have failed every. single. time. Why would this time be any different?
Forcing the Argentine people into even more debt while actively preventing them from accessing the best tool on the planet to escape inflation as we transition further into the Digital Age is nothing short of pure evil. Argentina has been a well documented hotbed for bitcoin activity for many years now. The IMF, in conjunction with the Argentine government, has done nothing more than turn a large number of law abiding citizens into "criminals" overnight. Absolutely despicable. These people need to be chased off the planet.
On the bright side, the IMF singling out bitcoin is a sign that they are truly scared of how powerful it is and how big of a threat it is to their existence. Their days are numbered and the world will be a significantly better place when the IMF is nothing more than a memory that we use to warn our future descendants of the perils of central banking and fiat money.
Get down or lay down.
Enjoy the weekend, freaks.