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)
Gold standard isn't an odd choice, it was used for many thousands of years. It's just odd today because no countries still use it.
And while a Bitcoin standard sounds crazy, if you lived in Argentina, you'd probably rather keep your savings in Bitcoin (despite all its problems) than in the peso.
7 Comments
psmgx@lemmy.world · 12 pts · 2y
They're an export economy, chosing USD is basically shooting those exports in the foot.
doylio@lemmy.ca · -5 pts · 2y
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)
qyron@sopuli.xyz · 9 pts · 2y
How could such an odd choice benefit them?
Honest question.
Infiltrated_ad8271@kbin.social · 0 pts · 2y
I understand the other user's point is that repetition of this story is inevitable and any attempt is better.
doylio@lemmy.ca · 0 pts · 2y
Gold standard isn't an odd choice, it was used for many thousands of years. It's just odd today because no countries still use it.
And while a Bitcoin standard sounds crazy, if you lived in Argentina, you'd probably rather keep your savings in Bitcoin (despite all its problems) than in the peso.
KinNectar@kbin.run · 2 pts · 2y
Maybe a Swiss Franc or Japanese Yen peg might suit them better, if they could buy enough volume.
avidamoeba@lemmy.ca · 7 pts · 2y