Milei feels like a scam artist, channeling people's anger for personal gain.
140 sats \ 5 comments \ @BTC_Commons 23 Aug 2023 bitcoin
For those unaware, Milei is the leading Presidential candidate in Argentina, a libertarian who is talking big about dollarizing Argentina's economy, and closing the country's central bank.
But if the Peso is a scam, much more so is the dollar: Dollarization would de-facto mean bending the knee to the FED and the IMF (who btw has already met w/him). Why? Because you are not abolishing monetary policy, you are just skipping the intermediary local CB, and going straight to the FED.
Another issue is that most dollarization schemes are basically huge wealth transfers to the richest, while the poor have their savings, pensions and wages slashed to hell in the process (Ecuador comes to mind).
To me Milei is just another scam artist, channeling people's anger for personal gain. I hope I am wrong, but he just reeks of BS, even though so many Bitcoiners are smitten with him.
What do you think?
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10 sats \ 2 replies \ @premitive1 23 Aug 2023
We had an Argentinian post recently and they specifically agreed the misrepresentation that Milei wants to dollarize Argentina. I think you might need to do more research.
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13 sats \ 1 reply \ @BTC_Commons OP 23 Aug 2023
I watched one of his latest interviews, where he talked about how his plan to dollarize is not going to happen overnight, and he was defending against pro Macri economists who were trying to discredit him by using a strawman version of the plan to dollarize.
I am Argentinean, I am well aware of the political dicussions. But the point stands. Dollarization is not getting rid of central banks, simply bending the knee to the FED
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2 sats \ 0 replies \ @premitive1 23 Aug 2023
Instead Argentinians now get to bend the knee to the imf which pretty much answers to the Fed and the USA system...
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0 sats \ 0 replies \ @stackeraw 24 Aug 2023
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0 sats \ 0 replies \ @kepford 23 Aug 2023
Wouldn't you agree the US dollar is better money than the Argentinian peso? The words of this politician sound good but he is a politician so people should remain skeptical. People put to much stock in words by politicians instead of their actions. We will see. I'd rather see a guy saying the things this guy says than the socialist poison we usually hear.
I hear you on the FED and IMF. Who knows. Maybe he'll double cross them. Maybe he has to meet with them. Overall as I've said before, these politicians talking about bitcoin say more about the growth of bitcoin than anything else.
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