Free At Last. Bolivia Shreds It's Master Card.

Bolivia

For new folks that do not know, South America is in an interesting point in time with respect to Venezuela. We still hear of more riots, political, and economic uncertainty in Venezuela that is currently bleeding into the rest of neighboring parts of South America. Time will tell how Venezuela will end up doing in the future.

As for Bolivia and Bitcoin, surprisingly Bitcoin is still frowned upon as to this day as compared to other countries in Latin America. The last news from this country that was Bitcoin related was in May of this year on how miners were shut down from creating Bitcoin and then accused of draining the countries electricity supply.

Bolivia's president Evo Morales (below) sent out a tweet today saying "A day like today in 1944 ended Bretton Woods Economic Conference (USA), in which the IMF and World Bank were established. These organizations dictated the economic fate of Bolivia and the world. Today we can say that we have total independence of them." So from this statement sent this morning, it turns out this country will be free from the hands of the IMF and World bank.

This basically translates to more freedom for the country in terms of trade and cooperation with countries and private entities. The president is a harsh critic of the US and the international banking authorities calling them out on taking poor countries hostages to foreign and corporate interests groups.

But though Bitcoin adoption is still slow in Bolivia, they should receive a thumbs up for seeking and fighting for financial independence.

Resources:

Bolivia Declares Total Independence From IMF World Bank
http://www.trunews.com/article/bolivia-declares-total-independence-from-imf-world-bank

Bolivia Calls Cryptocurrency Pyraimid Scheme Arrests Advocates
https://cointelegraph.com/news/bolivia-calls-cryptocurrency-pyramid-scheme-arrests-advocates

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