Rick (npub1qw3…qe66) English speakers are likely not informed at all beyond the memes they've seen, so it's no surprise they can't explain.
It's not dollarisation per se, but a free competition of currencies. Milei refers to it as dollarisation in most speeches because, he says, Argentinians have already chosen their currency and it's the US dollar. Everyone saves in US dollars. It's been like that since as long as I can remember. Therefore, freeing the restrictions that prohibit citizens from purchasing more than 200 USD per month, will result in people organically moving to the US dollar.
But that's impossible, if it were to be done right now, because there are not enough reserves. There enters the IMF and economist jargon about certain assets that can be used to enable this freeing of the restrictions. I've seen Milei explain that like five times already, but I'd lie if I said I remember how it goes. It was a key argument in the first presidential debate, where the other candidates had no plan on how to stop the 150% inflation.
Most people here don't trust crypto for reasons (right or wrong) evoking the 2001 crisis. And it's impossible to use a gold-backed currency when there's no gold.
Those solutions might come at a later date; but right now it's imperative to stop inflation. No one cares about anything else.
tl;dr
the dollar is the only way right now
Rasterman /
npub1e8v…s7yy
2023-11-20 17:27:12
in reply to nevent1q…u3mv
Author Public Key
npub1e8vknlqfajjexgag4v3sjjy8yeuluyrwd35s47fdyejwqs99z4wsyvs7yySeen on
wss://relay.noswhere.comPublished at
2023-11-20 17:27:12Event JSON
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"content": "nostr:npub1qw3gl734duhry2m05e2mkf9hcj0z72yndxlrqkxcjzj5v57em0nsrlqe66 English speakers are likely not informed at all beyond the memes they've seen, so it's no surprise they can't explain.\n\nIt's not dollarisation per se, but a free competition of currencies. Milei refers to it as dollarisation in most speeches because, he says, Argentinians have already chosen their currency and it's the US dollar. Everyone saves in US dollars. It's been like that since as long as I can remember. Therefore, freeing the restrictions that prohibit citizens from purchasing more than 200 USD per month, will result in people organically moving to the US dollar.\n\nBut that's impossible, if it were to be done right now, because there are not enough reserves. There enters the IMF and economist jargon about certain assets that can be used to enable this freeing of the restrictions. I've seen Milei explain that like five times already, but I'd lie if I said I remember how it goes. It was a key argument in the first presidential debate, where the other candidates had no plan on how to stop the 150% inflation.\n\nMost people here don't trust crypto for reasons (right or wrong) evoking the 2001 crisis. And it's impossible to use a gold-backed currency when there's no gold.\n\nThose solutions might come at a later date; but right now it's imperative to stop inflation. No one cares about anything else.\n\ntl;dr\nthe dollar is the only way right now",
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