The President of the Argentine Republic, Javier Milei, has stated that he is going to present a legislative proposal to declare it an imprescriptible crime for the state and the central bank to monetize the public deficit and create inflation. Consequently, heads of state and of the government, ministers, central bank officials, and representatives who, in one way or another, decide, promote, or participate in the creation of money and the inflationary financing of the public deficit will be tried and sentenced as criminals.…
The ratio legis of this new legislation is clear: it is grounded in the extremely severe damage done by inflationary policies in general. In the particular case of Argentina, such policies have been on the verge of causing raging hyperinflation, which only the efforts of the new President, Javier Milei, and the sacrifices borne by the Argentine nation since the fall of the former Peronist government have made it possible to roll back. This former government and those that preceded it are primarily responsible for the severe prostration, poverty, and economic and social crisis which today have placed Argentina—once one of the richest countries in the world—among the relatively poorer and less prosperous nations, despite its enormous potential in terms of human and natural resources.
Milei is doing something that no other head of state has ever suggested doing before: make it as criminal to monetize debt as it is to counterfeit money!! This is a revolutionary way to stop fiat from being debased the way the Central Banks currently debase every fiat currency. It also stops the “special influencers” from getting the money first and using it at its highest.power to purchase the goods and services they desire before the effects of the increase in the money supply can be felt throughout the economy as higher prices for everything. It stops special influencers from stealing value from every other individual in the economy. Revolutionary!!! FTS!!!