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22 sats \ 6 replies \ @Signal312 11 Dec \ on: Two Years of Milei: The Reform Agenda Moves Forward in Argentina econ
Here's what Saifedean Ammous, author of The Bitcoin Standard, has to say about the situation in Argentina:
https://xcancel.com/saifedean/status/1877717156420341885
Thoroughly debunked down to every letter in these articles, don't worry.
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You wrote a lot. Can you point me to where specifically you provide evidence that the money supply has NOT been increased as Ammous says?
Also I've never heard a good excuses for why he promoted not one but 2 shitcoin promotions. See the below, from here: #1277788
And oh yeah I forgot - he promoted not one, but TWO shitcoins. https://x.com/saifedean/status/1890724929168912636 This is about the $Libra coin. Viral takedown calling Milei's promotion a deliberate scam: > He hyped $LIBRA for "economic growth," cashed out millions, then dumped it. Ammous shares screenshots of Milei's deleted tweet and wallet dumps, shocking even "shitcoiners." Ties to Milei's pattern of enriching cronies. https://x.com/saifedean/status/1890863314269351970 This is about his 2021 support for CoinX. In this old interview, when asked whether he had been paid for the promotion in 2021, Milei himself recognized, “I charge for my opinions, of course I charge for my opinions.”
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Yes Sr.
About the money supply, you had already asked me about it, and I pointed to the section in the post in this answer.
I'm pasting the same excerpt here again:
The reference is a twit of himself pointing out the monetary expansion. The question should be, how's that possible, if no more money is being emitted, and inflation is currently below 2% and decreasing? how such a brutal increment didn't cause an instant increment in inflation?... oh yes! Debt payoffs! There's indeed no new money nor new debt, the "monetary expansion" simply being the result of operations that cause existing money to be accounted for, as in this case, existing debt monetization. In order to ensure the reintegration of the country into the international credit system (and the finance ecosystem overall), Milei has stated it's paramount to honor the debts and not to incur in new ones, and so far this has been respected strictly.
With which you can find the respective original paragraph in the original post, which has the wikilinks to the sources.
About the case of Libra, there are no good excuses, he plainly messed up. While both cases where inconsequential, to the point even the local crypto ecosystem dismissed it, it was a severe pitfall. I do know that Milei got acquainted to both shitcoin cases through friends he trusted, and when he considers you a friend and trusts you, he makes no questions. That attitude has caused him shortcomings within the political landscape as well. All in all, bad actors keep getting filtered out, and that trust and confidence do pays off to him, as his best men in his cabinet are doing wonders. So, I expect and I'm willing to accept more such pitfalls, as long as the balance remains positive.
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What on earth does this even mean? It sounds like meaningless word salad.
how such a brutal increment didn't cause an instant increment in inflation?... oh yes! Debt payoffs! There's indeed no new money nor new debt, the "monetary expansion" simply being the result of operations that cause existing money to be accounted for, as in this case, existing debt monetization
So...he's printing money to pay off debt, and it somehow doesn't matter?
The below is from Saifedean Ammous: https://x.com/saifedean/status/1987485531715019087
The most amazing testament to the power of propaganda is the number of people responding to this by insisting Milei isn't printing money or increasing debt, when his own government stats show that all money supply measures have tripled or quadrupled in under 4 years; and what's even more astonishing is that the debt is up even as the peso's official rate has decline by around 75% in under 2 years, which has massively discounted the dollar value of his peso debt. But not enough to offset the massive increased borrowing.
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