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21 sats \ 1 reply \ @Hypnagog 21 Aug 2023 \ on: I'm Moving to Argentina to Teach About Bitcoin; Let's Talk About Javier Milei bitcoin
Abolish flawed Argentina central bank, adopt USD, thereby replacing the Argentina central bank with the US Central bank, the FED.
What could go wrong. This will allow us insiders to access billions of newly printed USDs , wire them to Argentina and scoop up all resources and infrastructures.
Also, I understand there will be less inflation, but there will be inflation nonetheless, especially when usd is openly able to be used for deals there. This will lead to a rush for resources , and increased prices.
He spoke positively for bitcoin, why not just say "carajo!" And go all in? I'm curious.
From what you're saying, Argentina is using usd now, so its just formalizing status quo with some minor legalities improved.
Adopting a Bitcoin standard bc it's what he personally wants introduces coercion into the equation.
The Argentinian people will speak for what they want to use, ultimately, and Bitcoin is inevitable.
If the Central Bank is eliminated, then it's a free-for-all, monetarily-speaking. In the meantime, we live in a fiat world and Argentina will have to operate as such, while (hopefully) building out the parallel infrastructure in preparation for the death of the dollar.
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