It is like corporate bankruptcy. It happens slowly than a swift finale.
Dedollarization Accelerating
- Thread starter VicBee
- Start date
Get a clue.
Even with recent decline $DXY is higher than at any time of OrangeMan's insane one and done only term.
Same in store for Argentina.
And that was the case 1, 10, 100 years ago ... yet for some reason the dollar is still here. King of the hill.
Dollar is strong as long as our influence travels.
Watching big mac index is a joy, assuming every kid in every country eats a burger or two from time to time, and MCD profit margin remains constant in every country.
https://www.economist.com/big-mac-index
Actually, Javier Milei, who was just elected the Argentine leader, has pledged to get rid of the Argentina peso and make the US Dollar the official currency of Argentina.
Also to have a closer ties in the future with U.S. and less closer ties with fellow tRumper Vladimir PooPoo.
You read too much MAGA propaganda. Perhaps we should wait to see how this right wing populist does in the coming year or two. Their mouths rarely meet reality and go down in flame at the next election, unless they hold on to power by force.
Dollarization Accelerating
Argentina’s New President Wants to Adopt the U.S. Dollar as the National Currency
But Latin America’s third-largest economy is broke and lacks funds to swap the nearly worthless peso for the greenback
BUENOS AIRES—The self-styled anarcho-capitalist who won Argentina’s presidency on Sunday plans to ditch his nation’s peso and adopt the U.S. dollar as the national currency.
Argentina’s New President Wants to Adopt the U.S. Dollar as the National Currency
But Latin America’s third-largest economy is broke and lacks funds to swap the nearly worthless peso for the greenback
BUENOS AIRES—The self-styled anarcho-capitalist who won Argentina’s presidency on Sunday plans to ditch his nation’s peso and adopt the U.S. dollar as the national currency.
Argentina needs to follow Germany's lead after World War 11. The German mark was basically worthless. Chancellor Adenauer, again American wishes. eschewed rationing and price controls. Shelves that were empty became full within 3months, although at very high prices. It was the beginning of the German economic miracle. The free market eliminated all the distortions, shortages etc., usually caused by controls. The British went the opposite way. The socialists came to power and instituted rationing and price controls. The UK eventually became the sick man of Europe. The German Mark became the strongest currency in Europe.
Argentina needs to imitate the Germanl lesson. It will result in short term pain but the long term gain will more than offset the initial pain. Argentina has the resources to become again the economic power house that it once was, prior to World War 11.
Argentina needs to imitate the Germanl lesson. It will result in short term pain but the long term gain will more than offset the initial pain. Argentina has the resources to become again the economic power house that it once was, prior to World War 11.
I know nothing about Argentina, other than it had dictators, it lost a war with England over a little island miles from its shores, its economy is continuously in shambles, they're one of the world's largest meat producer, they have some pretty good red wine and they dance the tango.
Let's see where it goes
Let's see where it goes