Argentina's President-elect Javier Milei said on Friday that the closure of the country's central bank, a signature campaign pledge, was a "non-negotiable matter", according to a statement from his office posted on social media platform X.
It seems the whole point is adopting a currency they can’t print more of. Because of the ‘print more money’ thing doesn’t seem to be solving their inflation issues.
For some context, during the last 4 years the quantity of money our governemnt needed to print* was so high that our printers weren’t enough and we had to pay other countries to print more pesos.
For some context, during the last 4 years the quantity of money our governemnt needed to print* was so high that our printers weren’t enough and we had to pay other countries to print more pesos.
Usually in modern language “printing money” is simply the central bank moving a numbers on a spreadsheet, not necessarily creating new currency notes. This is especially true if the newly “printing money” is being used to repay foreign debts.
Are you saying Argentina is actually running out of currency? If so, where is it all going?
To be fair, Argentina was never really self-sufficient in money-printing. Brazil has so much volatility on the usage of the printers that it’s always cheaper for other countries in South America to import.
But yes, the amount they have been importing recently was completely out of the norm.
It seems the whole point is adopting a currency they can’t print more of. Because of the ‘print more money’ thing doesn’t seem to be solving their inflation issues.
For some context, during the last 4 years the quantity of money our governemnt needed to print* was so high that our printers weren’t enough and we had to pay other countries to print more pesos.
Usually in modern language “printing money” is simply the central bank moving a numbers on a spreadsheet, not necessarily creating new currency notes. This is especially true if the newly “printing money” is being used to repay foreign debts.
Are you saying Argentina is actually running out of currency? If so, where is it all going?
To be fair, Argentina was never really self-sufficient in money-printing. Brazil has so much volatility on the usage of the printers that it’s always cheaper for other countries in South America to import.
But yes, the amount they have been importing recently was completely out of the norm.
It’s not like the fed dosen’t print money as crazy too.