Euro close to parity 💀

Legislators in Argentina 🇦🇷 are promoting a bill for the Central Bank (BCRA) to keep 1% of international reserves in Bitcoin.

Dodged a bullet, literally

Argentina’s 🇦🇷 country risk is almost at the 800 level. Below that, credit against less than 10% gets unlocked.

📍Plaza del Congreso, Buenos Aires

Vibes were high last night 👌

The Central Bank of Argentina 🇦🇷 (BCRA) began to artistically display Bitcoin miners and other mining machines today. It is the first Central Bank in the world to do so.

Cumulative public employees since January. Another 30,000 will be let go between now and next month. ¡AFUERA!

“Bitcoin will probably go negative because if we’re moving into a world with carbon taxes, you have to take into account the energy that it took to produce it in the first place” — Peter Zeihan, Jan 2023, BTC price $17,093

Festivals are a mini version of a CBDC. You prepay with a digital payment method (debit or credit card) to prepay and charge the festival card. There is no way to transfer money in or out of this closed system from the outside. The card is only usable on the festival grounds and there is no refund, so the money has an expiration date as well (when the festival ends).

🎉President Javier Milei dissolves the AFIP (the IRS in Argentina) and creates a new, smaller collection agency. - Directors' salaries are reduced by 90%. - The salaries of senior authorities, the "political staff", are reduced by 45%. - The salaries of lower-level authorities are reduced by 30%. - The number of employees on leave is reduced by 15%. ¡AFUERA!

“World War 3 is a guerrilla information war with no division between military and civilian participation.” — Marshall McLuhan

Entraña 🥩 in Mar del Plata 👌

“Anyone has the right to be stupid, but not to demand that we venerate their stupidity.” — Nicolás Gómez Dávila

📍Cafayate, Salta

What a day for a daydream, custom made for a daydreaming boy

Inflation in Argentina 🇦🇷 since 2001. Imagine if Milei hadn’t won the elections and Massa would’ve continued his hyperinflationary model. Any media outlet crying about inflation now (whereas there were hardly any tears during naughty nose Massa), cannot be taken seriously.

Government coercion in practice (you don’t need to understand Italian to get it)

Currently reading River of Darkness, about the trip of conquistador Francisco Orellana across the Amazon river. At a certain point in the book they cross these San Rafael Falls by walking to the other side over some planks (one member of the crew doesn’t make it). Turns out that today, those falls are gone. On 2 February 2020, the falls collapsed into a massive sinkhole behind the layer of hard volcanic rock that formed its lip, creating a large natural arch spanning the Coca River. The natural arch also collapsed about a year later, leaving a gaping ravine at the former site of the falls. During its brief existence, the natural arch may have been the longest in the world, surpassing China's Xianren Bridge. The waterfall itself receded upstream as a result of rapid upward erosion, and disappeared within months as the river carved a new, more gradually descending channel. The collapse of the falls has significantly altered the Coca River, with a deep new canyon appearing upstream of the previous falls and large volumes of sediment being deposited downstream. Erosion upstream has destroyed several bridges and pipelines and, beginning in 2023, threatens to undermine the Coca Codo Sinclair Dam, which was built upstream of the falls in 2016. This is the before and after: