TL;DR: new regime in honduras is hostile to our dearest libertarian crypto bros, asserts sovereignty and tells them where to stick it.
A group of prominent international economists is applauding the recent move by Honduran President Xiomara Castro to push back against American crypto investors attempting to seize billions in public money from the Central American nation.
Background:
A group of libertarian investors teamed up with a former Honduran government — which was tied at the hip with narco-traffickers and came to power after a U.S.-backed military coup — in order to implement the world’s most radical libertarian policy, which turned over significant portions of the country to those investors through so-called special economic zones. The Honduran public, in a backlash, ousted the narco-backed regime, and the new government repealed the libertarian legislation. The crypto investors are now using the World Bank to force Honduras to honor the narco-government’s policies.
[ image of cryptobros making the face Wil E Coyote makes after running off a cliff ]
The crypto investors are now using the World Bank to force Honduras to honor the narco-government’s policies.
[Castro] has hit upon an elegant solution: She has taken steps to withdraw Honduras from ICSID. The crypto crowd is crying foul.
Among the dozens of signatories to the Progressive International praising Castro’s decision to exit the arbitration court are prominent South Korean economist Ha-Joon Chang; Chilean Gabriel Palma, of the “Palma Ratio of inequality”; American economist Jeffrey Sachs; former Greek Finance Minister Yanis Varoufakis; British economist Ann Pettifor; and Indian development economist Jayati Ghosh.
Predictably, the international community is going "LOL"
You may be asking, who's winning in all of this?
In its case before the ICSID, Próspera retained a top lobbying firm, employing former Democratic lawmaker Kendrick Meek, to pressure Honduras to pay up.
Sigh. Would be shocking if this wasn't a regular policy.
E: Also this is not really sneerclub territory, as sneerclub is very specifically about a certain group of nerds, not just all libertarian nerds in general. We are the hipsters of the sneer. (So prob more techtakes/buttcoin)
Model City Mondays is thing in siskind's substack, and Prospera is featured constantly.
It's seasteading that's the strictly libertarian thing where you fuck off to the ends of the earth to do drugs and marry twelve-year-olds. Despite the considerable overlap charter cities seem more of a rat/stembrained thing were you decide you're going to be the one to do a polis from first principles but get it right this time.
I started (but didn't finish) a degree in city planning, and we literally spent a lot of the first year learning about why planned cities are usually a bad idea. Siskind's a schmuck