First the IMF now this… Milei in the middle of a massive dollar bailout
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Can someone inform me what happened in Argentina?
@Saifedean Ammous has an epic post on this
US going all in on their new “Americas First” geopolitical policy.
Central and South America better buckle up.
ZOG got control and they’re getting sucked dry.
Any Argentinian Nostriches to follow?
Saddle
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a dollar intervention is so fiat style
"There is no money." -- President Milei
"his economic plan is faltering" -- poster child of the far right and general #cointard darling didn't last long
EL PAÍS English
US announces it will do ‘whatever is necessary to support Argentina’
Treasury Secretary Scott Bessent says he is negotiating an economic bailout for Javier Milei amid market pressure against the far-right leader’s ...
Link?
I guess they will be the first country with USDT as official currency!
Let's see
Thank you for this 🙏🙏🙏🤝
😮💨
Wasn’t he encouraged to go down the Bitcoin path?
Nothing new 😢
😞
They pegged their peso to their ego 🚀
The country $37t in debt gonna buy another countries debt. Dope.
🤣🤣🤣
It has something to do with this, I suppose...
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when every transactions costs at least $1???
If only the Nazis had not relocated there after the war, that beautiful country would have remained rich and unravaged.
Prophecies are Psy-Ops Obi
Don't fall for it! Its just more poison to kill us off!
I can’t take an article seriously about anything when they call Milei “far right” multiple times. Literally, I don’t even trust the numbers they are reporting at that point. Might as well be made up as far as I know .
So Argentina isn't in any actual financial trouble right now? The article made that up, and Trump's comments too?
The reason is that the Peronistas won the provincial elections, convincingly. Markets are not taking it well (currency, stocks etc.). Meanwhile Milei's team took the (imo) ill considered decision to create a slowly expanding "band" (think soft peg) around the ARSUSD exchange rate. And the ceiling of the band was hit in the above market panic. They started selling reserve USD to defend that ceiling.
It is faltering because leftists are winning in the polls ...
That made me lol!
Yep it was Saifedean
Also:
"It is true that he has made the names of Ludwig von Mises, Murray Rothbard and other thinkers of the Austrian School known to a wider public. But his knowledge of their ideas and theories is superficial and flawed, and his praise is therefore double-edged. In any case, we can only advise the public not to regard Milei’s statements on economic philosophy as authoritative...
...it is not enough that he pursue liberal goals with his policies. Rather, the political means must be objectively suitable for actually achieving those goals. This should be self-evident, but it is often disregarded in politics, as Ludwig von Mises repeatedly pointed out. Milei’s policies are a case in point."
- Prof. Dr. Rolf W. Puster, Prof. Dr. Jörg Guido Hülsmann and Prof. Dr. Hans-Hermann Hoppe
https://mises.org/power-market/resignation-scientific-advisory-board-ludwig-von-mises-institute-germany
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Anatomy of the Milei Ponzi
In my previous piece on Milei[1] 18 days ago, I argued that the Milei administration is running a debt and inflation ponzi that is coming near its ...
Yep it was Saifedean
Also:
"It is true that he has made the names of Ludwig von Mises, Murray Rothbard and other thinkers of the Austrian School known to a wider public. But his knowledge of their ideas and theories is superficial and flawed, and his praise is therefore double-edged. In any case, we can only advise the public not to regard Milei’s statements on economic philosophy as authoritative...
...it is not enough that he pursue liberal goals with his policies. Rather, the political means must be objectively suitable for actually achieving those goals. This should be self-evident, but it is often disregarded in politics, as Ludwig von Mises repeatedly pointed out. Milei’s policies are a case in point."
- Prof. Dr. Rolf W. Puster, Prof. Dr. Jörg Guido Hülsmann and Prof. Dr. Hans-Hermann Hoppe
https://mises.org/power-market/resignation-scientific-advisory-board-ludwig-von-mises-institute-germany
View quoted note →
Anatomy of the Milei Ponzi
In my previous piece on Milei[1] 18 days ago, I argued that the Milei administration is running a debt and inflation ponzi that is coming near its ...
I forgot to put "Buenos Aires" after "provincial" sorry.
Shocked 😮
What’s a likely scenario how this will unfold?
It's as if Miles was full of shit and actually did nothing but enrich himself and his cronies. Populists, incompetent people that are the loudest.
How are the US tax payers feeling about this?
Bailing out some bs government thousands kilometers away.
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We will own Argentina now.
It was all planned all along? But yeah, I think you're right.
"Protect the ponzi by all means possible. I repeat, by all means possible."
Anatomy of the Milei Ponzi
In my previous piece on Milei[1] 18 days ago, I argued that the Milei administration is running a debt and inflation ponzi that is coming near its ...
Last time I checked Argentina was still a democracy and polls don't dictate government policy.
Ambiguous wording on my part, but i am talking about provincial *elections*, not opinion polls.
I’m saying I don’t trust this source. A bad source can tell the truth, but you have to rely on good sources or you’ll never know when you’re being duped. As soon as there are clear signs of ignorance or lack of integrity, I’m out.
You can find it on saifedean.substack.com