'Shot heard 'round the world': El Salvador aims to become first nation to adopt bitcoin as LEGAL TENDER, may set global precedent

El Salvador is taking steps to become the first sovereign nation to adopt bitcoin as legal tender, alongside the US dollar, potentially setting the stage for other nations to reduce central-bank influence over their economies.

A bill enabling El Salvador to recognize bitcoin as legal tender will be submitted to the country's Legislative Assembly next week, President Nayib Bukele said in a video message that was shown on Saturday at the Bitcoin 2021 conference in Miami. Bukele's political party has firm control of the congress.

“In the short term this will generate jobs and help provide financial inclusion to thousands outside the formal economy," Bukele said.

Strike, a Bitcoin Lightning Network payment application, is working with Bukele's administration to implement the cryptocurrency plan. "This is the shot heard 'round the world for bitcoin," Strike founder Jack Mallers said in a statement. "What's transformative here is that bitcoin is both the greatest reserve asset ever created and a superior monetary network."

Holding bitcoin can help protect a developing nation's economy from fiat currency inflation, Mallers said. Central banks also have manipulated money supplies to trigger recessions.

About 70% of El Salvadorans don't have a bank account, according to Strike. El Salvador is the smallest country in Central America and one of the poorest nations in the Western Hemisphere. Use of bitcoin will make the country's financial system more inclusive and allow people to send money home without remittance services taking out fees, Strike said.

"We want to make cross-border payments free," Mallers said in a speech at Bitcoin 2021. "We want to solve the remittance problem for places that need it the most." He added,

In real time, we're improving the GDP of the country

Bitcoin advocates see the move as both an important precedent for developing nations and a breakthrough for cryptocurrency, which many countries have fought.

"There is not a dry eye on bitcoin Twitter tonight," podcast host Daniel Prince said. "El Salvador adopting bitcoin as legal tender in order to escape the tyranny of central banks to rescue their people is what this is all about."

There is not a dry eye on #Bitcoin Twitter tonight.#ElSalvador adopting #Bitcoin as legal tender in order to escape the tyranny of central banks to rescue their people is what this is all about.@JackMallers Speechless. pic.twitter.com/mXBKe55rc9

— Daniel Prince.sov (@PrinceySOV) June 5, 2021

Investor and newsletter author Anthony Pompliano called the El Salvador deal "one small step for bitcoin, but a giant step forward for humanity." He added, "This is the first country to take such a courageous step, but it won't be the last."

Today, the country of El Salvador has taken one small step for bitcoin, but a giant step forward for humanity.Bitcoin is inevitable.

— Pomp 🌪 (@APompliano) June 5, 2021

https://www.rt.com/business/525802-salvador-legal-tender-bitcoin/

https://www.rt.com/business/525802-salvador-legal-tender-bitcoin/

=Five killed, 15 injured in street knife rampage in eastern China

At least five people have been killed and 15 injured in a knife attack in China’s eastern Anhui province. A lone attacker stabbed people at random on a shopping street in the city of Anqing, the local police said.

A knifeman went on a stabbing spree in a busy pedestrian shopping street around 16:30 local time (08:30 GMT), a local police department said, in a statement published on the Chinese social media.

The attack claimed the lives of five people and left 15 injured, the police confirmed. The officers that arrived at the scene detained the knifeman. The reason for the attack is unknown so far and a probe has been launched into the incident, the police added.

Some unverified photos and videos published on social media show people lying and sitting on the street amid pools of blood as police officers and medics administer first aid. Some other videos also supposedly show a group of police officers escorting the alleged suspect after his arrest.

Some other footage demonstrated Anqing residents lining up to donate blood. Earlier, a local blood bank called on people to help those injured as blood reserves were running low, Chinese media said.

China has seen a string of attacks on schools and day-care centers over the past few years. In April, a man armed with a knife injured 16 children and two teachers at a kindergarten in the southern Chinese city of Beiliu. The suspect, who was also detained by the police, suffered from a mental illness, according to local media.

https://www.rt.com/news/525795-china-knife-attack-street-killed/

>>13839501

>Sounds like another IMF scam.