I'm intensely interested in what happens when Argentina eliminates the central bank. What does dollarization actually do to an economy?
Discussion
I guess we'll find out soon enough.
Better than the Argentine Peso at this point. Dollarize, open more global trades, and hopefully, Javier can make Bitcoin legal tender.
Don't bet on it looks like he's just another WEF stooge
Ruin everything, maybe?
They won’t. Unless they take the El Salvador playbook, IMF will tear that place apart. IMO.
El Salvador and Ecuador dollarized before Argentina.
My limited knowledge of their history was that it increased stability.
Confirming that it did stabilize the economy.
The banksters will kill Miley before it happens.
Even if the US has to spread democracy there as they did in Libya.
😍
I imagine it's a lot like breaking up with your imaginary girlfriend. The peso is already toast so now they just won't have to waste the Argentine citizen's time pretending it's not
Well, El Salvador dollarized before it bitcoinized. In my observation it makes food and living expenses on a similar standard to the United States. A plate of food is 15-30 in El Salvador, Comparable to rural United States, And we have not seen a full cycle of the effects of bitcoinization. When El Salvador pays down its debt to the IMF we can make an accurate picture of what bitcoinization does to an economy, Bit for Argentina, I’m sure the cost of living will go up. But without the dollar rails they probably won’t be able to buy bitcoin or bitcoin infrastructure, And will not be able to trade on exchanges in Argentinian pesos.
El Salvador has been dollarized for more than 20 years and it didn't help too much. The level of social disfunction and the gang violence were/are hard to believe.
The dollar will bring stability to Argentina, but a society depends on the quality of its individuals. Its all about humans.
Follow the money
It’s gotta be better than Argentinian pesos.
The sad part is there’s going to be a whole generation of people who think it’s safe to save in dollars because they’re used to 100% yoy inflation.