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689 sats \ 0 replies \ @fedelang 2 Dec 2023 \ on: What if Argentina Shuts the Central Bank? bitcoin
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.