Greetings from Argentina.
President Javier Milei has repealed 138 laws passed during the dictatorships of the 80s.
82 from Ongania and 56 from Videla.
Staggering, right? That's not even half of the laws that have been repealed in the past week.
My head is spinning.
Greetings from Argentina. There it is.
Excuse me while I go cry tears of joy. It's happening.
Greetings from Argentina.
The national bankers mafia, sorry, union is now threatening a national strike in reaction to Milei's deregulation measures.
This is signal. We're on the right path.
Short the bankers, long Bitcoin.
Stay tuned for an English summary of Argentinian president Javier Milei's "megadecree" announced about an hour ago.
Long story short, Argentina's back in business, baby.
I want you all to come visit. Every single one of you crazy Nostriches is welcome. LFG
Greetings from Argentina.
We're bracing for violence in the streets of Buenos Aires between degenerate communists and authorities.
A poignant reminder that Bitcoin is the peaceful revolution. No need for us to selfishly destroy our neighbors' property and small businesses over myopic political talking points.
Coercion has no place in Bitcoin; this is why we're separating money from the government.
Today it is anticipated that the Milei administration is about to get rid of 380,000 federal regulations in Argentina. I can't tell you how surreal this feels to see a government shrinking itself. The US can't even shrink the gov't by 1%.
Greetings from Argentina, where we're currently in the throws of bureaucratic whiplash, and I mean this in the best way possible. Buckle up for a summary of the Milei Administration's first work week of economic measures. As an Argentinian who's from the US, the home of the biggest government the world has witnessed, I can't understate how incredible it is to see a government shrink its workforce. Please stay tuned for more signal coming from boots-on-the-ground reporting.
OK, without further ado:
Note: I’ve just fed this through ChatGPT for translation; DYOR for clarification of some terms if need be.
Adjustments and measures from the first week of the new government:
There are significant cuts:
Ministries reduced from 18 to 9. (-50%)
Secretariats cut from 106 to 54 (-49%)
Subsecretariats reduced from 182 to 140 (-23%)
Official staff numbers reduced by 34%
Initiated a review of state contracts.
Advertising guidelines suspended for one year.
State labor contracts less than a year old will not be renewed.
Contracts with universities are under review.
Reviewing the state's workforce (spoiler: bloated like a dead carcass).
Official advertising guidelines suspended for 1 year.
In 2023, 34 billion (ARS) was spent on advertising. There's no money left, certainly not for funding militant partisan media.
Minimal discretionary transfers
The State will not bid on new public works and cancels all approved projects that have not yet begun.
Subsidies for energy and transportation reduced
Adjusting the exchange rate to boost exports
Elimination of the SIRAs.
Reduction of drivers and the fleet of official vehicles. - sale of 2 YPF planes, enforced by the State's dominant board position (formerly used by CFK as a taxi)
Removing insurance for artwork at the Quinta de Olivos. Millions of dollars wasted in insuring vanity pieces from the previous administration.
Bond tender to manage commercial debt by absorbing pesos, relieving pressure on Leliqs, and setting deadlines.
Lowering "pases" rates to buy time against the explosion of the "Massazo" (the hyperinflationary time bomb from the previous administration.
Dilution of Leliqs (if you don't know what those are, it's akin to a state-sponsored ponzi).
100% in-person attendance mandated in the National Public Administration.
If you don't work, you don't get paid.
Freezing funds allocated to bloated populist social organizations.
Boosting direct allocations to beneficiaries.
Social organizations will bear the cost of clearing blockades.
Prohibiting children and adolescents at protests.
Roadblocked protests are prohibited.
Environmental damage fines for burning tires at protests.
In just 5 days, they've accomplished more than the previous administration did in 16 months.
The MSM equivocating Milei to conservative bozos is lazy journalism. Time for everyone to learn about Classical Liberalism and Austrian economics.
We used to think that way too ;) Un abrazo desde el sur, hermano.
To give you an idea of the level of government bloat the Kirchner administration had cultivated over recent years in Argentina, the Casa Rosada officially has over 5,000 employees on the payroll.
This past week the Milei administration instituted a 100% in-person policy for reporting (brilliant move).
Only 700 people actually showed up, 14% of the total payroll the Argentinian taxpayers were financing.
In fact it's gotten so bad that the government payroll has dead people still earning a monthly paycheck, with their families not saying a peep, continuing to access the funds.
The parasites are being surgically removed by the Milei administration.
AFUERA! Hopefully Argentina can show Brazil how to shrink government, saying "sí" to freedom by eliminating the central bank and separating the government from the money.
The myopia continues to spread in Argentina with people who have zero grasp of economics pointing the finger at Milei's austerity measures.
The same crowd was sat silent on the sidelines for the past 20 years while populist measures ripped the country apart and mortgaged our future for the sake of power and fortune for those closest to the money taps.
This is why we need to separate the money from the government. This is why we Bitcoin.
Launching independent, free, and impartial Bitcoin classes soon in the city of Córdoba. Stay tuned for more.
People are protesting against the economic measures of austerity taken by the Milei administration.
It's the economic version of complaining about the surgeon that's removing the knife from one's back while not blaming the aggressor whatsoever.
It's a beautiful day in Argentina. #milei #asunciónpresidencial
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Join me in spreading the word that we're having a candle vigil for the Banco Central here in Argentina. Chau bebe!
The vibe:
"Put the federal government in charge of the Sahara Desert and in 5 years there'd be a shortage of sand." -Milton Friedman
If Argentina president-elect Javier Milei doesn't successfully eliminate the Argentinian Central Bank then his victory was for nothing.
When (if) he achieves the elimination of the Central Bank I'm going to celebrate in style and officially flip bullish on our chances of digging ourselves out.
Beautiful execution, I have to admit.
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