this post was submitted on 11 Jan 2024
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They're an export economy, chosing USD is basically shooting those exports in the foot.
I think his rationale is to take away monetary control from future administrations, which I think is a laudable goal. Argentina should be the richest country in South America, but its people keep getting robbed by the printing press. I wonder if going to a gold standard (or if they feel like rolling the dice, a Bitcoin standard) would be a better option.
(Cue the anti-crypto arguments because I mentioned Bitcoin)
Maybe a Swiss Franc or Japanese Yen peg might suit them better, if they could buy enough volume.