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But I doubt this could even happen what Milei said during the election. Dollarization when? next month? a year, 2 years? or is this 10 years from now. Did Milei or his team explain this in detail to the Argentine people? Did they ask before they voted to him? I wasn't here so I don't know but I'm wondering if it was all laid out? I would think before people voted for him, they would understand difficult things like this. Looking back now it seems like even professional economists didn't understand how it could be done. And no one has figured out to fix the Argentine economy for many decades?But who knows, things are still up in the air, and I'm not entirely sure they'll be able to switch to the dollar given the current situation. We'll have to wait and see.
You're absolutely right. The problem is, the Argentine government messed up by not being careful with money. They kept printing too much, and that's why things got so bad.I don't get why everyone's excited about dollarization. It basically means admitting that our new adopted country isn't mature enough to handle its own money. It's like giving up control to a country that doesn't really care about us, and we can't influence their decisions.
Having our own currency lets us make our own financial rules and control things. With our currency, we can use tricks to handle tough times better. Dollarization doesn't add anything special that we can't do with our own money if we want to. It just makes us follow strict rules, but we should be disciplined with our money regardless of the currency. Just stop printing too much, and you can have a stable currency. It's not that complicated of an idea.
The Chicago Mercantile Exchange already uses dollars, so when you buy soybeans, it doesn't matter if it's from Argentina, Paraguay, or Brazil – you're paying in USD. I don't think that part would change. But, if our local market starts using dollars like it did in the 90s, it could make us less competitive.If, hypothetically, Milei's dollarization plan were to go through (which seems unlikely), would there be anyone left willing to buy Argentine exports?
He only gave a clear timeframe for his term, which ends in 2027, but in general, he talks about wanting to achieve it within 1-2 years, possibly before the 2025 midterms. I don't think it's likely to happen this year. Instead, there's a growing acceptance of having two currencies circulating, but that's not exactly the same thing.But I doubt this could even happen what Milei said during the election. Dollarization when? next month? a year, 2 years? or is this 10 years from now. Did Milei or his team explain this in detail to the Argentine people? Did they ask before they voted to him? I wasn't here so I don't know but I'm wondering if it was all laid out? I would think before people voted for him, they would understand difficult things like this. Looking back now it seems like even professional economists didn't understand how it could be done. And no one has figured out to fix the Argentine economy for many decades?
First, how will we get the money to make this happen? And second, will the legal system allow it? These seem like the big challenges for dollarization. Plus, there's a chance the dollar might not stay strong, causing prices to go up. I'm also worried about having to follow the rules of U.S. money decisions. But I like Milei's idea. He suggests keeping the Peso as our main money but letting people choose how they get paid - in different currencies or even by trading things.
I don't get why everyone's excited about dollarization. It basically means admitting that our new adopted country isn't mature enough to handle its own money. It's like giving up control to a country that doesn't really care about us, and we can't influence their decisions.
Having our own currency lets us make our own financial rules and control things. With our currency, we can use tricks to handle tough times better. Dollarization doesn't add anything special that we can't do with our own money if we want to. It just makes us follow strict rules, but we should be disciplined with our money regardless of the currency. Just stop printing too much, and you can have a stable currency. It's not that complicated of an idea.
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