What if Argentina Shuts the Central Bank? \ stacker news ~bitcoin

What if Argentina Shuts the Central Bank?www.profstonge.com/p/what-happens-if-argentina-closes

2090 sats \ 13 comments \ @k00b 2 Dec 2023 bitcoin

He's catching criticism for swapping the peso for the dollar instead of going all the way to gold or even Bitcoin. But voters will only go so far in a single bound, and the dollar's still a damn sight better than the local confetti.

Being punched is better than being stabbed even if we'd argue they should opt for a massage.

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690 sats \ 2 replies \ @elvismercury 2 Dec 2023

Having worked in several giant systems, my new default belief is that it's basically impossible for a person to get the people inside of the system to dismantle it. They're not going to dig their own graves, you need to cool the mark out.

My prediction: he winds up being totally ineffectual, and he spends increasing amounts of time ranting about how the system is corrupt and oppositional. Dunno how Argentina's election cycles work, but could be the next phase they vote out enough incumbents to make a go of it.

547 sats \ 1 reply \ @k00b OP 2 Dec 2023

They're not going to dig their own graves

This kind of selfish delusion is so mid. I can't think of worst common instinct for an individual to have from the perspective of a group.

you need to cool the mark out

I'm surprised to see this article in a psychiatric journal. The wool sweater and birkenstock psychiatrist culture make much more sense now.

My prediction: he winds up being totally ineffectual

You're probably right. There is no red button.

793 sats \ 0 replies \ @elvismercury 2 Dec 2023

I can't think of worst common instinct for an individual to have from the perspective of a group.

I was so immersed that it hardly bothers me now, it's like a swarm of gnats -- you mostly aren't mad at the gnats. And in a way, it's kind of right: we think -- we're hoping -- that the incentives around btc make it work at scale. It seems to be working, but more is different, as they say. But we assume it will continue to work, because people are pretty good at being people.

Now imagine you're some dude, doing whatever you do, and your life is good, you're making a bunch of money. Or at least, you're not one of the people making no money, you're not one of those clawing and scrabbling. And some new thing gets proposed, and the upside for you is unclear, and the downside is very clear, very internalized as we were recently discussing.

I always liked to think I wouldn't behave the way they did.

Of course I liked to believe that.

689 sats \ 0 replies \ @fedelang 2 Dec 2023

Long story short: won't happen. Here is why @k00b

Presidents are no kings specially when they want to destroy cantillionaires favorite toy.

Argentina's economy is constantly at turmoil over local elites wars on how to distribute revenue and who pays for it. There are three battling forces but basically there is always a clear victorious one, over and over.

The primary sector: (kings between 1850s through 1950s) main goal primarized economy non value added meat, cereal,.. and mineral exports. With land being a resource in the hands of the few (our version of the oligarchies). Instead of settlers like in the states, Argentina access to land was divided through a lot of corruption between lazy Spaniards and their decedents that took pride for not working at all.

The industrial sector: dominated by cronies mostly with no real long term plan. Their time for being kings is shortly outlived since they demand lots of USD while not producing much through exports (their only skill is to hunt in the zoo). Complete utter failure for the most part with very few exceptions.

What we call here "la city": speculators and owners of most media outlets, bankers, globalists, that use both the state and the financial industry to get outrageously fucking rich while creating numerous and different financial instruments, distortions and the associated intermediary bridges to load their pockets and those of their foreign overlords. This masterminds are responsible for massive amounts of foreign debt that then is shifted to the working class debt (aka taxpayers).

Those fat cats siting in Buenos Aires are not going to allow Miller do shit about the Central Bank. Not going to happen.

689 sats \ 0 replies \ @OT 2 Dec 2023

I think he has said something like everyone should be free to use whatever currency they like. Thats all bitcoin really needs. A place to compete with fiat in a free market.

0 sats \ 0 replies \ @DarthCoin 2 Dec 2023

https://primal.net/e/note16jccrt5qz6cxnl336ga3sz0qttfljgdstxrl8dad7269r88r7lhqycc3r4

0 sats \ 1 reply \ @franzap 2 Dec 2023

Well said, people here need being punched. I don't have much faith in his presidency, my biggest joy is his achievement of significantly moving the Overton window compared to just a few years ago

0 sats \ 0 replies \ @DarthCoin 2 Dec 2023

0 sats \ 0 replies \ @JustinGoldberg 2 Dec 2023

In the early USA, you could bring the silver you found to the mint and they would mint coins for a nominal fee. So gold and silver can be decentralized, but they still have their flaws (theft).

0 sats \ 3 replies \ @JustinGoldberg 2 Dec 2023

Can you create a subforum (or topic) for lightning? Is there demand for it?

0 sats \ 2 replies \ @JustinGoldberg 2 Dec 2023

Can you create a subforum (or topic) for lightning? Is there demand for it?

@k00b

141 sats \ 1 reply \ @k00b OP 2 Dec 2023

User generated subs will launch next week.

0 sats \ 0 replies \ @DarthCoin 2 Dec 2023