Here's an interesting series of tweets about Argentina from the last few days. As many of you freaks know, Argentina has a history of currency crises that it can't seem to shake. Most recently, the Central Bank has had to issue 100-year treasury bonds, take out a line of credit from the IMF and now it looks like they are in need to extend that line of credit further.
Argentina is a very interesting place for Bitcoin to prove its use cases out and it looks like some Argentinians are utilizing it as an alternative to the peso alreasy, as evidenced from the above tweet from our friend Santi. Again, Bitcoin is not a panacea for countries suffering from bouts of hyperinflation and uncertain monetary policy, but it is certainly a tool they can turn to during these trying times.
For those of you who are not too well versed on the history of the IMF + other global banking institutions like the World Bank and their history of destroying countries by extending them loans, I highly recommend you check out Confessions of an Economic Hitman. This book illuminates the tactics which are used by global banking institutions and corporations to completely pillage vulnerable countries. I would also read up on the history of European and Latin American banking crises that have involved IMF intervention. I truly believe it is an immoral, parasitic organization that should be abolished.
We here at the Ƀent are pulling for our friends in countries like Argentina, Venezuela, Iran, and Turkey during these trying times. You are all stronger than we can imagine.
We should be back to our regularly scheduled programming tomorrow. On a side note, balding sucks.