@intel_jakal Profile picture
Apr 19 9 tweets 4 min read Twitter logo Read on Twitter
On 12 April. I asked a pretty basic question 9over and over and over)...where did #elsalvador get the $800m to make the bond repayment in January....nothing but crickets (as always) Image
So I thought I'd go and have a look at El Salvador's finances....I'm working through the IMF's 2021 article IV consultation report Image
Why am I going through the 2021 report and not the current one......thanks for asking that's a very good question....pretty simple answer its because #elsalvador has yet to provide authorisation for its release.
Even though the IMF staff concluding statement was released 10 Feb....more than 2 months later the Staff report has not been authorised for release. Image
meanwhile this is the shit i wake up to. nice one @Bloomberg - can you tell me how the fk #elsalvador paid the $800m bond or is it not important? ImageImage
Telling half a story just adds fuel to the propaganda machine. Image
@Bloomberg lets frame it another way - if you are going to tout #elsalvador wonderful financial alchemy.
Then why are you not asking @FitchRatings how they managed to get their downgrade so absolutely wrong. Fitch was pretty confident that there was a pretty big hole of $900m.
I've summarised a couple of key points for you.... Image

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More from @intel_jakal

Apr 21
An #incompentence #MasterClass
by #bitfinex own statement it was working with #cryptocapital from 2014.

#bitfinex was also working with #coinapult we know this as they are referenced in the incident report when #coinapult was hacked in 2015. Image
So what happened with #coinapult. That's a great question...I'm glad you asked. In May 2015 (a couple months after the hack) they announced they were being 'integrated' into #cryptocapital and would no long be undertaking #kyc as they had a tip top fully regulated partner, Image
Obviously to effect such an important transaction #coinapult would have gone to great length to ensure their partner who was taking over the KYC and banking functions were who they said they were.
Read 6 tweets
Apr 18
@OCCRP Well worth a read...and #bandenia provides a really simple example of some really obvious flags I've pointed out more than once. Image
Lets just look at this statement....180m in unpaid share capital....OCCRP are being too kind by saying "possibly".... Image
View 1 - THE COMPANY
$80m in current assets....we are awesome. Image
Read 7 tweets
Apr 12
@leomschwartz Does anyone know where #ElSalvador sourced the funds from to repay the $800m bond that matured in Jan 2023? Image
@leomschwartz Not saying I'm right....but don't tell me I'm wrong unless you can show me I'm wrong....and the only way to do that is produce some real numbers. #provemewrong #tether Image
Read 4 tweets
Apr 4
@gaborgurbacs @Tether_to @tethergold @paoloardoino I agree #Tether $Gold aka $XAUT is a great product. When compared to $USDT $XAUT is by far the better option.
Why is does no one use it?
@gaborgurbacs @Tether_to @tethergold @paoloardoino In the last 12 months only 19k has been sold and only 82k since beginning of 2021.
@gaborgurbacs @Tether_to @tethergold @paoloardoino Since the beginning of 2021 #tether themselves have purchased and increased inventory ready for sale by more than 79k ounces (which is almost as much as sold over that period). But zero interest.
Read 7 tweets
Mar 28
@ParrotCapital It doesn't help when the regulator makes mistakes in their filings.

#meritpeak is #BVI company not Caymans.
@ParrotCapital Its not like its a fkn secret. We even know that the current #BVI agent for #meritpeak is #cloverdale which is #binance BVI agent.
@ParrotCapital duh I mean't #cloverdale was #binance agent....its now #harkom ...
Read 15 tweets
Mar 27
Here's a question to all my #twitter peeps.... but some background first.
One of the first things you learn in M&A 101 is that the primary benefit of a share sale vs an asset sale is that an asset sale you get to leave behind liabilities and any potential unknown skeletons...
Now this is not true in all cases for example in Europe (my specific experience is Germany) if you acquire a going concern via asset sale employee obligations are carried over (that the simple version its way more onnerous).
But my question relates to what about when a company acquires an asset that's subsequent to acquisition its discovered that asset was previously used for the carriage of illegal activity. Say for instance a domain. What responsibility other than the obvious reputational risk.
Read 5 tweets

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