The eccentric far-right populist Javier Milei has failed to win the first round of Argentina’s presidential election, with the centrist finance minister Sergio Massa unexpectedly beating his radical challenger.
Supporters of Milei, a potty-mouthed political outsider described as an Argentinian mashup of Donald Trump, Jair Bolsonaro and Boris Johnson, had hoped he was heading for a sensational outright victory similar to Bolsonaro’s shock triumph in Brazil in 2018.
I know nothing about economy, but isn’t a bad idea to put all your chips into a currency that you do not hold any control over?
Ecuador and Puerto Rico already did it. Panamá did something similar.
I totally understand the initiative. Corruption can be so damn high, that you trust gringo fed more than any institution of your own coutry.
El Salvador was the other one aside from Ecuador and Panamá.
Puerto Rico is a us Territory and uses USD. Costa Rica has their own currency with cute sloths and monkeys on their notes.
Trusting the central bank of a country that gave permission, founding and training to the military juntas all over South America to commit crimes against humanity is pretty darn stupid if you ask me…
Yes, but the alternative is what we have now.
Normal people have zero control over the US Dollar, but also have zero control over the Argentinian Peso… and the Argentinian Peso has 140% inflation per year.