Last year, many media/news reports said El Salvador was gonna default on their $800m sovereign debt because they adopted Bitcoin. Well, El Salvador just paid all of it back… and the same media now refuses to cover it.

Last year, every news paper and media house had people convinced that El Salvador is going to default on their sovereign debt, it was only a matter of time. Rating agencies cut El Salvador’s ratings, these media houses put out timely reminders that El Salvador was bankrupt.

[NYT: Bitcoin moved the nation close to default](https://preview.redd.it/wy99227gs0ea1.jpg?width=1514&format=pjpg&auto=webp&v=enabled&s=8991c065bb439f771f957f1ef1826cb1cb9d8bf1)

This was called out by President Bukele at that time too, that NYT devoted a full page to El Salvador when they have never turned their attention to a small and poor nation ever before.

[Bukele in July 2022: \\”Since when the unytimes has devoted so much time and space to El Salvador’s economic initiatives? It’s clear they’re afraid, Bitcoin is inevitable. By the way, they say we’re heading to default. Will they publish an apology once we pay everything on time? ](https://preview.redd.it/jizz8x26u0ea1.jpg?width=1310&format=pjpg&auto=webp&v=enabled&s=2bf9381a4bd331de1ab947aa1a7a6b5d232e9c70)

[Full page NYT article \\”poor country closer to default\\”](https://preview.redd.it/pt98a4kts0ea1.jpg?width=1152&format=pjpg&auto=webp&v=enabled&s=092758372769da77b55ce6fcbca0c41cecac2445)

Not just NYT, Washington Post too and many others joined in.

[So many articles that El Salvador is broke and about to default….](https://preview.redd.it/98xxc5nys0ea1.jpg?width=1708&format=pjpg&auto=webp&v=enabled&s=c10a399162bc6e41efb3ce27dec1beb08d8e2895)

Well what do you know, El Salvador just repaid their debt yesterday.

[https://www.coindesk.com/policy/2023/01/24/el-salvador-pays-back-800m-maturing-bond-president-nayib-bukele-says/](https://www.coindesk.com/policy/2023/01/24/el-salvador-pays-back-800m-maturing-bond-president-nayib-bukele-says/)

Lets look at how the same media is covering this…

Wait, they arent covering it.

[Not a single article in the NYT about it….](https://preview.redd.it/3hvu7k99t0ea1.jpg?width=1830&format=pjpg&auto=webp&v=enabled&s=46279cab40432de3c2f9aee31883a3b400ea7c66)

President Bukele has gone scorched earth on the double standards of the media: [https://twitter.com/nayibbukele/status/1617695406812721156](https://twitter.com/nayibbukele/status/1617695406812721156)

>Full page spreads on the nytimes and all, creating the narrative that El Salvador was broke and going to default. I called them out at the time, but of course, who was going to believe us and not every international news outlet and their “economic geniuses”?
>
>Well, we just paid in full, 800 million dollars plus interest. But of course, almost nobody is covering the story.
>
>They lie and lie and lie, and when their lies are exposed, they go on silence mode.

#year #medianews #reports #Salvador #gonna #default #800m #sovereign #debt #adopted #Bitcoin #Salvador #paid #media #refuses #cover

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Elean0rZ

Hate to burst a perfectly nice anti-MSM narrative, but:

Reuters: [https://www.reuters.com/world/americas/el-salvador-says-it-has-repaid-800-million-bond-maturing-january-2023-01-24/](https://www.reuters.com/world/americas/el-salvador-says-it-has-repaid-800-million-bond-maturing-january-2023-01-24/)

BNN Bloomberg: [https://www.bnnbloomberg.ca/bukele-says-el-salvador-paid-full-800-million-of-debt-due-1.1874184](https://www.bnnbloomberg.ca/bukele-says-el-salvador-paid-full-800-million-of-debt-due-1.1874184)

Edit: mainline Bloomberg too: [https://www.bloomberg.com/news/articles/2023-01-24/bukele-says-el-salvador-repaid-maturing-bond-dodging-default](https://www.bloomberg.com/news/articles/2023-01-24/bukele-says-el-salvador-repaid-maturing-bond-dodging-default)

National Post (national conservative newspaper in Canada): https://nationalpost.com/pmn/news-pmn/perus-economy-stable-despite-recent-social-unrest-minister-says

Yahoo, leading up to the announcement: [https://ca.finance.yahoo.com/news/el-salvador-payment-clear-first-170000890.html](https://ca.finance.yahoo.com/news/el-salvador-payment-clear-first-170000890.html)

etc.

MaeronTargaryen

The claim was stupid to start with. IF El Salvador defaulted, it wouldn’t have been because of the BTC investment.

Medias love to spread the narrative that Bukele bought half of his country’s GDP worth of BTC but in reality it’s not enough to be the cause of any economical problem the country has

goldfish-vomit

El Salvador approached this smart.

No one is under any illusion that Bitcoin price is stable and the folks in charge never over extended themselves.

They had all to gain and relatively little to lose.

reddito321

Awesome writing!

Also the media was just spreading FUD, as El Salvador only invested roughly **1%** of its Treasury into BTC. **Were it to default, it wouldn’t be because of BTC**. How this amount can possibly lead a country to default, I’m still waiting for the NYT to tell me.

Banks control most media outlets, so just join the dots.

Primary_Technical

Bukele DCAing and enjoying life .

vjeva

It’s simple, nowadays major media companies are owned by corporations that have only one goal and that is generating revenue.

In order to do so, they basically write sponsored articles that subjectively cover important topics.

In the El Salvador case, all this FUD are sponsored articles paid by Banks to push their own agenda.

BusinessBreakfast3

Eventually, everyone will understand.

Same as with the internet.

3utt5lut

Meanwhile, the United States is openly considering defaulting on their national debt. It’s funny how this becomes a thing every year and every year it gets pushed down the road.

ShinAlastor

The scenario is going to be very interesting during the next bull run.

tfresca

They repaid a loan with more loans. They aren’t out of the woods yet.

Stompede

The owners of media companies and hedges get their herpes together.

2bridgesprod

CAn’t wait for day (and the memes) wen El Salvador ditches all IMF loans for volcano bonds. Could be the catalyst that will catapult btc past the inevitable 100K resistance mark.

WrastleGuy

What was the price of BTC when they bought it vs what it’s worth today? That’s the real question, not if they can pay back a bill with the other 99% of their money they don’t put in BTC.

Bubba1989

By now we know mainstream media is bought. Its not about reporting facts. Its about writing opinions and pushing the narrative. Fuck mainstream media!

BradVet

US considering creating a trillion dollar coin but El salvador is the failed experiment

hcollector

Can we maybe not treat this dictator like he’s some kind of hero?

wealth4good

The Central Banks & the Big Banks had pushed against cryptocurrencies to get the price down so they could buy more at a cheap cost..! That and now they’re pushing their own Central Bank Digital Currencies (CBDCs) to become favored over the traditional cryptos.

It’s all in the plan known as “THE GREAT RESET”. They even wrote a book about it- Centralized control to manage your life. You’ll own nothing & like it..! When everyone’s using CBDCs, then they can cut you off if you don’t score high enough on the “social credit system”.

AJoyfulProcess

Paying something off is not newsworthy…defaulting is. Just ask my creditors, I wish they’d put as much effort into thanking me for paying each month as they do when I’m late. 🙂

Maleficent-Ad-8763

In your face Buttcoin!!

Daddio_87

This is HUGE for any other countries that might be considering doing the same, and it seems that this will just pick up momentum and overall Bitcoin adoption.

Aromatic-Front-5919

They hate us cause they ain’t us.

ZikkyP

It’s like if the media have some agenda, kudos to El Salvador!

zoomercoomer9000

By adopting BTC as legal tender, El Salvador has placed itself in the crosshairs of traditional finance institutions. So I’m not surprised that the mainstream news reports on the country with a heavily-negative skew.

EdgeLord19941

For a nation $800m in debt is peanuts anyway

Justaboywandering

I wonder how does one find the proof of 800 million dollars being repaid by El Salvador besides media?

Obsidianram

“El Salvador putting public money into Bitcoin is totally irresponsible!”

*meanwhile, back at the ranch*…

“We need to pass this legislation that does away with the debt ceiling (so we can have unlimited spending!)”…

PoorCryptoInvestor

Many people doubted El Salvador president but it seems like he is doing the right thing for his country.

Mediocre_Suspect_203

Don’t expect to see anything in the news about it

EmilyLovs

How to you break a monopoly? You get a member to successfully leave.

The IMF is terrified of the success of El Salvador. They succeed, another follows…then another…then another.

Pray for Bukele’s protection. I hope he’s decentralized himself. Cause these lizards will kill/overthrow/start a war… anything to stop their monopoly from crumbling.

The 1800s, the American experiment freed the world. El Salvador finds itself in the same position. They succeed 100 years of fiat slavery finally crumbles.

HeroinAndyCx

Media hates good news about bitcoin.

vegetablewizard

The media likes to manipulate narratives to suit their owner’s political agenda

newbonsite

Of course not that would just prove what we all think of them 😂

Go El Salvador show the world how BTC was supposed to be used …

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