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They are doing it to make money how is making money a fad? The reality of living in a poor nation like this is that unless they take a gamble they will most lik
by bogota 5y ago
They are doing it to make money how is making money a fad? The reality of living in a poor nation like this is that unless they take a gamble they will most likely continue with the same level of violence and poverty. Its very easy to look down on people from an ivory tower though and call it a waste.
- cratermoon 5y ago> They are doing it to make money In no scenario does "they" refer to El Salvador's poor population, especially not the indigenous peoples. The money will go to the colonizing foreign investors and circulate in things like CDOs. A few crumbs that fall off the table will go to improving the lives of the upper end of El Salvador's people, and incidentally some crumbs of the crumbs might fall down to the rest of the population. Trickle down, eh?
- danlugo92 5y agoWhats the alternative, no crumbs? Lol
- bogota 5y agoYou defeated your own argument :) I’m referring to the whole nation as poor which it is. Poor people rarely benefit from any government economic policies but in order to have them the government needs to be in a place to offer them to start with. There’s some other points to be argued such as people now are holding an asset that is volatile but deflationary in nature by default and they have the option to convert and hold a currency which will lose value over time (USD). I’m not saying “bitcoin is going to save them” but its at least a novel approach that i think is worth exploring for countries in this position.
- cratermoon 5y agoSome crumbs of the crumbs doesn't invalidate my argument, it just demonstrates rising inequality: in other words, the benefits will disproportionately accrue to the wealth foreign investors.