Milei Backtracks on Bitcoin

Here you can read on Twitter where Javier Milei, the leader of Argentina, backtracks on Bitcoin.

What do you think the reason for this is?

I can tell you in a heartbeat.

Argentina has long had zero interest in regular people having a stake in the game.

Bitcoin prevents abject poverty.

Bitcoin gives people a chance.

If regular people are strengthened, that is bad news for the ruling class that prefers to rule without substantive opposition.

Empowered people have money – money that can fund opposition candidates.

Why would the ruling class want that?

They don’t which was why Milei put the kibosh on Bitcoin.

Argentina has long been a feudal society going all the way back to the Spanish. It’s called the Encomienda.

You can read all about it in Why Nations Fail by Acemoglu and Robinson.

Basically the feudal lords rent the land to the serfs and slaves. It’s slavery pure and simple.

Milei may talk a big game, but he works for the ruling class in Argentina – and in the USA.

Case closed.

Sincerely,

Archer Crosley