Argentina's President Javier Milei is planning to introduce a law that will impose draconian penalties on central bankers if they illegally finance national debt with the printing press. In principle, this sounds like a good measure. But the question remains: can Milei succeed in closing the central bank completely? This law suggests that existing forces in the financial policy system are still too strong and that we will continue to have to reckon with fiat politics. Incidentally, the dollarization of Argentina's economy is also an issue.