HinesWard86 Posted November 20, 2023 Report Share Posted November 20, 2023 https://www.aljazeera.com/news/2023/11/20/argentina-elects-outsider-javier-milei-on-platform-of-radical-reform Quote Link to comment Share on other sites More sharing options...
mikeman Posted November 20, 2023 Report Share Posted November 20, 2023 People are turning against the elites worldwide. Quote Link to comment Share on other sites More sharing options...
sleepy Posted November 20, 2023 Report Share Posted November 20, 2023 Yeah, real crazy ideas here. Quote Link to comment Share on other sites More sharing options...
RudyRuder Posted November 20, 2023 Report Share Posted November 20, 2023 should we buy into their currency? i dont know what it is but should we???? Quote Link to comment Share on other sites More sharing options...
mikeman Posted November 20, 2023 Report Share Posted November 20, 2023 1 hour ago, RudyRuder said: should we buy into their currency? i dont know what it is but should we???? I think the new leader plans on dumping their currency and using the dollar. other countries have done that. Quote Link to comment Share on other sites More sharing options...
HinesWard86 Posted November 20, 2023 Author Report Share Posted November 20, 2023 7 hours ago, sleepy said: Yeah, real crazy ideas here. On the campaign trail this year, Milei proposed legalizing the sale of human children via a "free market for babies." He also pledged to lower Argentina's age of consent, laid out plans to mandate forced labor in Argentine prisons, and repeatedly attempted to rehabilitate his country's former pro-Nazi dictatorship. Quote Link to comment Share on other sites More sharing options...
MonkeyF0cker Posted November 20, 2023 Report Share Posted November 20, 2023 Looks like the leftist propaganda machine is in full force against Milei. Which means he's the good guy. Quote Link to comment Share on other sites More sharing options...
Jimmy Hoffa Posted November 21, 2023 Report Share Posted November 21, 2023 Argentinians have been all over the place politically for the past 100 years. Fascists to Socialists and all points in between... We went from Jimmy Carter to Ronald Reagan. The pendulum swings on. Quote Link to comment Share on other sites More sharing options...
mikeman Posted November 21, 2023 Report Share Posted November 21, 2023 1 hour ago, HinesWard86 said: On the campaign trail this year, Milei proposed legalizing the sale of human children via a "free market for babies." He also pledged to lower Argentina's age of consent, laid out plans to mandate forced labor in Argentine prisons, and repeatedly attempted to rehabilitate his country's former pro-Nazi dictatorship. I suspect each of those things you put out there as bad has more to the story? Quote Link to comment Share on other sites More sharing options...
RudyRuder Posted November 21, 2023 Report Share Posted November 21, 2023 3 hours ago, mikeman said: I think the new leader plans on dumping their currency and using the dollar. other countries have done that. thanks for the info. that kinda sucks, i thought there might be a good opportunity there Quote Link to comment Share on other sites More sharing options...
mikeman Posted November 21, 2023 Report Share Posted November 21, 2023 Quote Link to comment Share on other sites More sharing options...
RudyRuder Posted November 21, 2023 Report Share Posted November 21, 2023 but what makes you think he would move to USD? if Trump wins, wouldnt this be a dream come true for the Argentine Peso given his political stance Quote Link to comment Share on other sites More sharing options...
Jimmy Hoffa Posted November 21, 2023 Report Share Posted November 21, 2023 Argentina: President-Elect Javier Milei Promises ‘Spiritual’ Israel Trip, Will Move Embassy to Jerusalem Argentina’s libertarian President-elect Javier Milei confirmed on Monday that he would make visits to both Israel and the United States before his inauguration on December 10, trips he described as “spiritual” and intended to meet with rabbis whom he had consulted during the election. Milei won the presidency in a landslide on Sunday night, defeating the current Minister of Economics Sergio Massa, a socialist. Massa’s tenure has been defined by inflation of upwards of 140 percent, skyrocketing poverty and joblessness levels, and the worst economic crisis in the nation’s history. Milei, a self-described libertarian, has promised to install the U.S. dollar as an official currency, dramatically cut government spending through the elimination or privatization of agencies, and eliminate the Argentine Central Bank. On foreign policy, Milei promised to abandon the pro-Iran, pro-China policies of incumbent President Alberto Fernández and the long line of socialist Peronists who preceded him and has repeatedly stated that Argentina’s top allies under his administration will be Israel and the United States. Milei reportedly began studying the Torah and considered converting to Judaism from Catholicism in 2021, and has maintained regular studies with multiple rabbis. Quote Link to comment Share on other sites More sharing options...
mikeman Posted November 21, 2023 Report Share Posted November 21, 2023 4 minutes ago, RudyRuder said: but what makes you think he would move to USD? if Trump wins, wouldnt this be a dream come true for the Argentine Peso given his political stance https://www.msn.com/en-us/money/companies/argentinas-new-president-javier-milei-thinks-adopting-the-us-dollar-can-rescue-its-screwed-economy/ar-AA1kdCu6 Quote Link to comment Share on other sites More sharing options...
mikeman Posted November 21, 2023 Report Share Posted November 21, 2023 ‘Dollarization is feasible and it’s desirable’ If put into practice, Milei’s dollarization plan would see Argentina give up the peso as its currency and use the U.S. dollar instead. Ecuador and Panama are two notable examples of countries that have previously dollarized their economies, but no country of Argentina’s size has previously shifted to the U.S. dollar. Advocates of the proposal say the switch could help the country tame runaway inflation and bring an end to its boom-and-bust cycle. Critics, however, say the move would strip the country of its national sovereignty and dent Argentina’s ability to influence the economy through moves such as interest rate changes. watch now VIDEO03:21 Argentina: Steve Hanke says many arguments against dollarization are ‘rubbish’ “The key problem in Argentina since 1876 has been the peso,” Steve Hanke, professor of applied economics at Johns Hopkins University, told CNBC’s “Street Signs Asia” on Monday. “One currency crisis after another. One recession after another. Defaults on debt — one right after another. They have had three defaults on sovereign debt since the year 2000. And the current inflation rate, I just measured it today, it’s 220% in Argentina,” he added. “It’s all tangled up with the central bank and the peso. So, Milei has the right idea. You’ve got to dollarize and many of these arguments against dollarization are absolute rubbish. This idea that somehow, they don’t have enough dollars to dollarize is ridiculous.” Hanke said he had not been a formal part of Milei’s campaign, but had been in close contact with his technical team and described himself as an “informal advisor” on issues such as dollarization. Quote Link to comment Share on other sites More sharing options...
RudyRuder Posted November 21, 2023 Report Share Posted November 21, 2023 thanks chief Quote Link to comment Share on other sites More sharing options...
RudyRuder Posted November 21, 2023 Report Share Posted November 21, 2023 what do you make of this............. There's also a fundamental problem with Milei's dollarization plan — Argentina doesn't have enough US dollar assets to finance a major purchase of the currency, wrote Markus Jaeger, a global economy analyst at intelligence firm Stratfor, in October. In fact, Argentina is so short of US dollars that it used the Chinese yuan to repay part of an International Monetary Fund loan last month. Coupled with political instability and a history of poor economic management, Argentina would better off reforming its economic regime, wrote Jaeger. Quote Link to comment Share on other sites More sharing options...
mikeman Posted November 21, 2023 Report Share Posted November 21, 2023 Just now, RudyRuder said: what do you make of this............. There's also a fundamental problem with Milei's dollarization plan — Argentina doesn't have enough US dollar assets to finance a major purchase of the currency, wrote Markus Jaeger, a global economy analyst at intelligence firm Stratfor, in October. In fact, Argentina is so short of US dollars that it used the Chinese yuan to repay part of an International Monetary Fund loan last month. Coupled with political instability and a history of poor economic management, Argentina would better off reforming its economic regime, wrote Jaeger. I dont have a clue how it would work, but other countries such as panama equador and a few in africa have done it - what it means is they would no longer be able to print their own currency to finance spending - which is what causes the runaway inflation. Quote Link to comment Share on other sites More sharing options...
mikeman Posted November 21, 2023 Report Share Posted November 21, 2023 Countries Where the US Dollar is the Official Currency US Territory or Foreign Country Relationship with United States Geographic Location Population (2020) Gross Domestic Product (2020) United States of America Federal Republic North America 331,501.08 Thousand $20.95 Trillion Commonwealth of Puerto Rico Unincorporated territory of the U.S. Northeastern Caribbean 3,281.54 Thousand $103.14 Billion Ecuador Independent country Northwestern South America 17,643.06 Thousand $98.81 Billion Republic of El Salvador Independent country Central America 6,486.20 Thousand $24.63 Billion Republic of Zimbabwe Independent country Southeast Africa 14,862.93 Thousand $18.05 Billion Guam Unincorporated territory of the U.S. Western Pacific Ocean 168.78 Thousand $5.84 Billion The Virgin Islands of the United States Insular area territory of the U.S. Caribbean 106.29 Thousand $4.07 Billion (2019) The British Virgin Islands British Overseas Territory Caribbean 30.24 Thousand Not Available Democratic Republic of Timor-Leste Independent country Maritime Southeast Asia 1,318.44 Thousand $1.90 Billion Bonaire Kingdom of Netherlands Municipality Caribbean 20.10 Thousand (2019) $553 Million (2020) American Samoa Unincorporated territory of the U.S. South Pacific Ocean 55.20 Thousand $709 Million Commonwealth of the Northern Mariana Islands Unincorporated territory of the U.S. Western Pacific Ocean 57.56 Thousand $1.18 Billion (2019) Federated States of Micronesia Six Sovereign Countries Subregion of Oceania 115.02 Thousand $410.08 Million Republic of Palau Island Country Western Pacific Ocean 18.09 Thousand $257.70 Million Marshall Islands Island Country Near Equator in the Pacific Ocean 59.19 Thousand $244.46 Million Panama Independent Country Central America 4,314.77 Thousand $53.98 Billion Turks and Caicos British Overseas Territory Caribbean 38.72 Thousand $924.58 Million Quote Link to comment Share on other sites More sharing options...
RudyRuder Posted November 21, 2023 Report Share Posted November 21, 2023 Maybe I should try to see what George Soros is doing with the currency I remember when I was in college and thought maybe I should invest in the Iraqi currency like people did with Kuwait I am glad I didn't do that....but wish I did bitcoin when I was told when it was $25/1 bitcoin argentine peso is 0.0028 to 1 USD we could all be millionaires if this works out??? Quote Link to comment Share on other sites More sharing options...
mikeman Posted November 21, 2023 Report Share Posted November 21, 2023 My boss was big into bitcoin, i remember it was maybe $100 and he was talking it up bigtime, I told him it's not worth anything. I kinda missed that one. Quote Link to comment Share on other sites More sharing options...
mikeman Posted November 21, 2023 Report Share Posted November 21, 2023 Excellent, if you're going to clean house the first thing to do is take out the trash. Quote Link to comment Share on other sites More sharing options...
Jimmy Hoffa Posted November 21, 2023 Report Share Posted November 21, 2023 What's not to like about this guy?? Quote Link to comment Share on other sites More sharing options...
mikeman Posted November 21, 2023 Report Share Posted November 21, 2023 13 minutes ago, Jimmy Hoffa said: What's not to like about this guy?? The possibility that he's a plant. Just like about 1/2 of republicans in congress. Quote Link to comment Share on other sites More sharing options...
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