International Monetary Fund (IMF) on the verge of irrelevancy due to cryptocurrencies
Last week, the International Monetary Fund dedicated a press release to the field of cryptocurrencies. For a long time, the renowned economists who are part of this obscure institution, which controls at will the destiny of the economies of many countries, are once again forced to acknowledge the existence of cryptocurrencies and pay attention to a subject that they tried to ignore, first, considering it irrelevant in order to avoid giving it global importance and now, since it is impossible to cover it with a carpet, they are trying to distort its transcendent role in the world economy.
In a section of its press release, the international monetary fund considers the implementation of cryptocurrencies dangerous, because, according to them, economies would have to spend productive time to maintain various exchange rates, bombastic words, but that mean nothing and only demonstrate the lack of objectivity of its members, taking into account that these processes are automatic and do not require “productive time” to be executed. It is evident, on the other hand, that this statement is a clear response to the implementation in the country of El Salvador of Bitcoin as legal tender, it is a regular behavior of the IMF where they try from the beginning to hide their true intention, which is to procure an unfavorable environment for the cryptocurrency market, after all, they do not even mention the country that has taken the initiative to implement a free and transparent monetary system.
And you may ask yourself, why are they trying to undermine cryptocurrencies? Well, it is simple, cryptocurrencies will make them irrelevant, unnecessary and will stop being the stepping stone to the economic freedom of thousands of human beings enslaved under their economic policies.
To undermine this market, they claim that cryptocurrencies (in plural and without specificity) involve a significant environmental risk due to mining (PoW mechanism), using only part of the argument, but leaving out the context and analysis that indicates that, firstly, the intensive use of energy is mostly made from renewable sources and that compared to other industries, it is many years ahead in the use of these sources, being really a promoter of the change to a more environmentally friendly global economy; and as if that were not enough, secondly, they also fail to indicate that NOT ALL cryptocurrencies use mining mechanisms that require significant amounts of electricity (PoS mechanism), and that within a few years due to its vertiginous technical development this will simply be the most widely used way worldwide to carry out transactions in cryptocurrencies, leaving behind the high energy consumption.
Another of the arguments chosen for this strategy, is to indicate that a significant part of the economic activity carried out with cryptocurrencies is criminal, and here they are not lying by hiding part of the truth but by affirming a total falsehood, since statistics indicate that in proportion and in totality the traditional market is the ideal form of criminal activity, through institutions permeated by corruption, entities closed to public scrutiny and the use of cash. Cryptocurrencies on the contrary are the ideal means to fight crime, they are transparent mechanisms of exchange and the record of economic events is public, and each transaction can be evaluated up to the moment of the mining of the minimum representation of value, basically, if a criminal uses cryptocurrencies he has left a trail of public evidence that can be used against him without a doubt in a court of law.
It’s simple, there exists in the world a privileged group of individuals who see their position in society threatened by a mechanism that lowers them from their pedestal, What can you expect? precisely a statement similar to the one they have just issued. What strategy will they follow now? well, the next tactic is “join your enemy and control the world” and they declare the need to create digital currencies controlled by central banks, that is, cryptocurrencies without freedom or transparency, which is nothing more than another way to stay relevant and continue as the parasites they are, maintain their status quo at the cost of the financial freedom of every human being on the planet. They propose the worst global economic system, which would simply eliminate individual freedoms and leave the door open to dictatorships and authoritarian governments to achieve power and stay in it permanently, ideals opposed to the dominant current would be easily eliminated by segregating and even isolating from the economy any different or “dangerous” point of view as they call cryptocurrencies in their press release.
Remember that for these individuals YOU AND I do not know how to make decisions, and they are the ones chosen to define what we can and cannot do with our own economic resources. What they do know is how to get richer and they also know that when they have unbalanced the market too much, it will explode, so, to stay on their pedestal and not be judged as the criminals they are, they must maintain absolute control of the economy and with it of the law, distributing the losses to all citizens, increasing the economic and social distance between them and the idiots who can’t stop them.
Open your eyes, get informed and learn how to use cryptocurrencies, make every economic decision you make only your own responsibility.
