RT reported that after winning his second term with 84% of the votes, President Bukele attended the Conservative Political Action Conference (CPAC) in Maryland (USA).
Mr. Bukele has been hailed by right-wingers in the US for accepting Bitcoin as a legal bidding tool and having suppressed gang crimes with iron hands. President Bukele ended his speech with a call for major restructuring for the US economy.
The conservatives have always told me that the problem is high taxes, but they are wrong, he said. The real problem is that you pay high taxes just to create an illusion that you are funding the government, in fact not.
Mr. Bukele said that the government is funded by Treasury bonds. The Federal Reserve buys those bonds by printing money.
The government is funded by printing money, paper support is supported by paper. If the next US president does not implement the necessary policies and make restructuring, sooner or later, that bubble will break, Bukele said, warning that confidence in the US dollar will be weak.
The US dollar's gold support was erased in 1971 when President Richard Trump abandoned the Bretton Woods system established after World War II - a system that governs the ability to convert the US dollar into gold at a fixed exchange rate. The US national debt has since exploded, surging from $232 billion in 1971 to $34 trillion at the beginning of this year.
Republican and White House lawmakers agreed in June last year to temporarily lift the national debt ceiling. The agreement will last until 2025.
El Salvador's president is known for reducing El Salvador's murder rate from 38/100,000 when he was elected in 2019 to 2.4 at the end of last year. He achieved this feat by declaring a state of emergency in 2022 and imprisoning more than 75,000 gang members in a crackdown condemned by independent NGOs and human rights organizations.
