reply on: Argentina and Brazil Look to Establish a Common Currency

0 sats \ 3 replies \ @Undisciplined OP 4 Feb 2023 \ parent \ on: Argentina and Brazil Look to Establish a Common Currency | Marcos Falcone bitcoin

Thanks for the update. We have lots of similar speculation about a shared North American currency.

I don't quite follow your explanation, though. If your currency is such a disaster, why is there extra resistance to the shared currency idea?

11 sats \ 2 replies \ @botsforcash 4 Feb 2023

Think of the EU and the years-long painful road to fiscal sanity needed to birth the Euro. Yet arguably still not as good as expected.

Now do you really believe Argentina and Brazil are able to muster similar levels of discipline long enough to produce a "common currency"?

To answer that question just look up the basket case that is "Mercosur".

0 sats \ 1 reply \ @Undisciplined OP 4 Feb 2023

I get why it won't work, but it seems like politicians would be able to get people on board for something different after the monetary roller coaster you've been on for the past 50 years, especially when you'd be entering the arrangement with the worse monetary situation.

0 sats \ 0 replies \ @botsforcash 5 Feb 2023

I see. You're looking at this third-world problems offering sensible first-world solutions. Thet won't work here. At least not top-down. Too much political corruption (current Brazilian president Lula served jailtime on curruption charges and current Argetinian Vice-President Cristina Kirchner was just sentened for corruption past December).

Only the people can educate themselves out of this mess. But that might be a bridge too far for many.