Javier Milei - Plan ฿: Solving Argentina’s Economic Problem
Amidst a severe economic crisis that has ravaged Argentina for a third decade and the highest inflation levels of any other economy in the world, Javier Milei, a libertarian economist, rises as a strong candidate for the presidency.
In the run-off elections (19th November), Milei (30% of the votes during the first round) could make the “miracle” and surpass the current leading party of Sergio Massa (36%).
Milei presents an economic program that will radically alter the financial establishment in Argentina, as he plans to drastically reduce the size of the government, replace the peso with the dollar, and decrease inflation from a devastating 124% down to a more sustainable 5% within three years.
While the dollar may stabilize the currently fragile Argentinian economy, it is also important to mention that dollarized economies are not exactly thriving.
Therefore, a plan ฿ (Bitcoin) could also be implemented, but in an entirely different approach than the El Salvador fiasco with the enforcement of centralized LN wallets, with results revealing the weaknesses of the BTC community to admit their past mistakes and scale the proper way (by increasing the block size).
The 2023 Argentine Presidential Election
A highly motivational speech by Javier Milei while addressing the people of Argentina:
What should plan ฿ be, though?
We examined previously the status of the Argentinian economy and the destructive path since 2000 that led to poverty, frustration, crime, and social unrest.
We also explained which version of Bitcoin works (Bitcoin CAsh) and can accommodate Argentina’s population, at least at an initial state of a parallel economy. A parallel to the dollar, though, since this is what Milei advocates for.
Is the dollar the solution, or perhaps it is a decentralized Peer-to-Peer Electronic Cash system with instant transactions and low fees?
Read more:
In Conclusion
Fiat currencies will always suffer from political manipulation.
Milei has been called far-right, populist, or extreme, but in fact, he is following what is rational to change the course of the Argentinian economy and help it prosper again.
He is the right man at the right place. Or perhaps the last resort for a crisis that devastates Argentina for decades.
For Argentina, the dollar can work, but only for a few years.
It will need to move to a plan B for the economy, and if that B is Bitcoin, then the only version of Bitcoin that works is Bitcoin Cash.
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