Prices soar in Argentina after Milei’s currency devaluation
Prices soar in Argentina after Milei’s currency devaluation
Unions are meeting to discuss their response to an adjustment plan whose burden, they warn, will fall on the working class: ‘A total social tsunami is coming’
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What does he say this achieves? What is his endgame with respect to the devaluation?
apparently abolishing the central bank and switching to the dollar
So having US cemtral bank controlling the own currency.
Very well tgought through
If they dump their currency and use USD, then as long as there arnough dollars around it solves inflation right? (Their economy is a blip to the Goliath that is USD)
But if that's the case, then their currency is useless as everyone knows if will have zero value at all in a few months/years.
It does mean they can't print money to get out of trouble though.... Not that that was going well for them before.
The US$?
Yes