Argentina Presidential Candidate Milei on Closing the Nation's Central Bank, Dollarization

Argentina’s leading presidential candidate Javier Milei pledges to close the nation’s central bank while saying he would make every effort to avoid a default on the country’s sovereign debt if he wins the October vote. Milei speaks with Bloomberg's Juan Pablo Spinetto.

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[DeadpoolWadeWilson]

I hope Argentines see the momentum of this man. Maybe an opportunity like this will never come again.

[TeeCeeBee]

Central Banks are evil. I hope he is 100% successful.

[JJHN]

This man will literally make Argentina great again.

[morskisrle]

He basically says that the central bank of USA should be the central bank of Argentina. Knowing the criminal acts of the Federal bank than he exits one criminal gang and enters another one that has less inflation. From Argentinian point of inflation it is a good choice at this moment but from point of morality he gains no good.

[PD_]

Worth a try. Can't get much worse in Argentina under the current financial system. How has the global fiat money printing central bank system worked out for you so far, Keynesnians? USA, WEF, IMF and BIS will find a way to sabotage this somehow.

[puertousbmonkey]

Escribo en inglés pero soy argentino ❤ Milei president of the free world

[pablocosentino]

Milei will change Argentina and then the world !!

He is the grey man of Parravicini`s prophecies.

[superturro]

Andrew Jackson, American president will be proud of Milei. He is trying to do the same he did.

[BitFloh]

Wow, the statement that central banking is one of the biggest scams is amazing. I hope the population in Argentina will learn more about Bitcoin, because the USD has the same inflation problem but much slower as in Argentinia. Bitcoin has no inflation, because no one can print Bitcoin.

"stop doing charity with my money, with someone else's ass we are all gay"
Javier Milei

[NoTimeforCool]

We need someone like this in every country. Good bye deep state

[BK-Woods]

Mr. Milei The world is watching Don't let us down.

[luciaricardini]

Argentina deserves a good president, I would like to go back to my country one day

[jamoin]

Finally someone who aknowledges reality, and someone who can get this thing right.

[wanderer]

I just wonder what would happen to him if he won, and decided to keep his campaign promise?

[norcalreppin]

Hope he does well. I'm a Mises guy!

[facundogil]

JAVIER MILEI 🇦🇷 DONALD TRUMP 🇺🇸 MARINE LEPEN 🇨🇵 SANTIAGO ABASCAL 🇪🇸 GEORGIA MELONI 🇮🇹

[juanvilas]

Consider that one of the candidates says things like "The people need the inclusive inclusion of inclusive education." and the other basically "I don't know when we are going to make the necessary reforms, maybe in 8 years..."

[nelidamarianavarrete]

🙏🇦🇷 Las fuerzas del Cielo ayudan a Javier Milei🇦🇷🙏

[ajescudero]

In Argentina, the Central Bank does not have the foreign currency reserves to cover its monetary liabilities in pesos, nor is the importance of establishing an Anti-cyclical Fund discussed, an essential tool if monetary and exchange rate policies are sacrificed.
A lesson from the convertibility crisis is ignored: the Central Bank had the dollars to cover the pesos of the monetary base, but not for the term deposits. It is not advisable to design a monetary/exchange regime without considering crisis scenarios in the banking system.
Not to mention that $40 billion would be needed to undertake dollarization: since it is not shown how this would be obtained, the exchange rate gap faces upward pressure, as calculations are made based on the (very high) exchange rate level that would be required for the "numbers to add up."