Economy New York Times - Paul Krugman: Why dollarization is a fantasy

[Vince]

dude i thought the same thing when i was researching Prague!! just a simple GIS integration with a small map. hell, for most of us who have played video games, it would feel really intuitive to put it where the Zelda world map was, or similar. great input. i am not there, but then again with AI who knows how easy it will become

AI will change the world. Soon there will be bots in every facets of our lives. It will get so good you won't know if you're talking to a human or a bot. Crazy.

 

[StatusNomadicus]

you won't know if you're talking to a human or a bot.

well, maybe, but you're missing the other half; you'll have an AI that can detect who is an AI 😛 tech always works both ways

 

[JoeTrip]

I have much to learn about Argentine economy. What is the main motivation for Milei wanting to dollarize economy? It doesn't sound like it will happen any time soon. But I was curious.

 

[Betsy Ross]

I have much to learn about Argentine economy. What is the main motivation for Milei wanting to dollarize economy? It doesn't sound like it will happen any time soon. But I was curious.

We need to stop the government from printing too much money because that causes prices to go up. It is what causes inflation. Also, if we make it harder for them to print money, it will make them manage their money more carefully. This way, we can have stable prices and the government won't be able to spend recklessly. It's about finding a balance between keeping prices steady and making sure the government spends wisely.

 

[MikeAnton]

I also want to learn more about the economy here. It's crazy to think about inflation here!

Alright. So, if we put restrictions and spend less money, what about the folks who are used to things like "football para todos"? I heard people in the province never paid taxes in their entire lives. If there's no income (Argentinians are free-spirited folks, not slaves), cutting spending when there wasn't much to begin with seems like it won't change anything. To make more money, you need people working, but I can't see Argentinians giving up their free-spirited ways and suddenly becoming hardworking slaves.

People don't fundamentally change, it's unrealistic. So, the question remains: What's the purpose? What's the point?

 

[Spend Thrift]

I also want to learn more about the economy here. It's crazy to think about inflation here!

Alright. So, if we put restrictions and spend less money, what about the folks who are used to things like "football para todos"? I heard people in the province never paid taxes in their entire lives. If there's no income (Argentinians are free-spirited folks, not slaves), cutting spending when there wasn't much to begin with seems like it won't change anything. To make more money, you need people working, but I can't see Argentinians giving up their free-spirited ways and suddenly becoming hardworking slaves.

People don't fundamentally change, it's unrealistic. So, the question remains: What's the purpose? What's the point?

Lots of folks have been depending on the government for a long time. It might take a while, but eventually, they'll see that things like "futbol para todos" won't be there anymore. Hopefully, there will be a better economy with more jobs so that people can support themselves better. It's like a slow change, but in the end, there could be positive improvements.

I'm still learning here with the help of my assistant and other locals I met but if it's one thing I have noticed it is Argentinians are tough and adaptable, they've learned to handle challenges out of necessity. I think they might be better at adjusting than people in the USA.

 

[Che Vos]

My father accountant. He say Argentina never dollarize.

 

[crypto]

@Jeb Spencer scroll through https://whybitcoincash.com/ and see why Kim Dotcom and Roger Ver are fully exited from BTC (which currently has $20-35 USD fees per transaction right now) and now use Bitcoin Cash/BCH since 2017. there's a lot of history, and lots of censorship on reddit's r/Bitcoin caused a forum split to reddit.com/r/btc which is funnily reminiscent of this forum's birth

BCH works great; make a wallet with the Bitcoin.com app https://wallet.bitcoin.com/ and i'll send you a tiny amount to try it out. it costs a fraction of one cent to send, so paying 50 cents for something in Argentina means the receiver gets all 50 cents. this is the way! it's what the anonymous creator of Bitcoin intended: bank the unbanked. around the world. many people think it is only BTC and "shitcoins" but there is more nuance; BCH split away when the elites wanted BTC to be expensive and "digital gold" instead of peer-to-peer cash like Bitcoin was supposed to be. Argentines should love BCH, but many have only heard of BTC (which 95% can't afford to use) or USDT/TRX-20 "Tether" which is just a centrally-controlled 'stablecoin' that operates on a private network and is controlled by one company. time will cause more normal people to use crypto, especially with pro-crypto Milei. i'm actually shocked BCH is still only $230 USD; i value it at 100,000 USD compared to the unusable BTC that got to a high of 60,000 back in the day. you can have 8 decimals of Bitcoin, so you could buy 0.00000001 or "one Satoshi" if you wanted...much more divisible than a Dollar only going 2 decimals. it's a common misconception that you need to buy a whole Bitcoin; you're actually trading fiat currency for 100-million Satoshis for a full "coin" 😛

i don't know why people are acting like BsAs is suddenly unsafe or expensive, but i imagine they are locals (why they're on an Expat forum, no one knows) who are bitter about the commies only having power for 1 century and not 2 centuries.

Igor from the other forum is just mad because this forum is making his site worthless, so he'll lose ad revenue and all the other benefits he's had for the past 2 decades. i noticed after posting some Libertarian stuff that my posts weren't posting, and the site started to act strangely (even with VPN, etc.). sucks to suck, Igor, but your site is buggy and it's 2023; i should be able to delete an account on a website. you have to ban me instead of delete my account? lol, this isn't AOL in 1999...it's pretty easy to delete accounts, and i consider it a crime against humanity to not allow to opt-out of marketing or delete an account 😀

i'm a very private person, so not gonna give my info, but i'm old enough to have seen the military-industrial complex operate in a couple countries, but not too old that i can't put some miles in on-foot and see huge cities like BsAs (i'm a runner). if you come here and want to link-up for a beer (they are surprisingly good here!), we can chat on WhatsApp. you got a backup plan to Argentina? i'm exploring Eastern Europe once i get my citizenship stuff started here. follow SovereignMan and InternationalMan if you want good info on Chile/Argentina from some salt-dogs that have been around like earlyretirement

Speaking of BCH. There is a BCH Conference in Buenos Aires from October 12 - 14, 2024. If you want to check it out.

Bitcoin Cash (BCH) Conference 2024 Coming to Buenos Aires, Argentina in October – News Bytes Bitcoin News

The highly anticipated Bitcoin Cash (BCH) Conference is set to take place in Buenos Aires, Argentina from October 12 to October 14, 2024. The event,

news.bitcoin.com

 

[Spend Thrift]

Speaking of BCH. There is a BCH Conference in Buenos Aires from October 12 - 14, 2024. If you want to check it out.

Bitcoin Cash (BCH) Conference 2024 Coming to Buenos Aires, Argentina in October – News Bytes Bitcoin News

The highly anticipated Bitcoin Cash (BCH) Conference is set to take place in Buenos Aires, Argentina from October 12 to October 14, 2024. The event,

news.bitcoin.com

From the sound of things, it looks like Argentina is trying to crack down on crypto.

https://www.reuters.com/markets/currencies/argentina-looks-tame-crypto-market-money-laundering-fears-draw-scrutiny-2024-07-18/

 

[Flamingo]

From the sound of things, it looks like Argentina is trying to crack down on crypto.

https://www.reuters.com/markets/currencies/argentina-looks-tame-crypto-market-money-laundering-fears-draw-scrutiny-2024-07-18/

I don't think you will get many people from Argentina that will declare their crypto assets. 🤣