First the IMF now this… Milei in the middle of a massive dollar bailout
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Any Argentinian Nostriches to follow?
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a dollar intervention is so fiat style
"There is no money." -- President Milei
"his economic plan is faltering" -- poster child of the far right and general #cointard darling didn't last long
EL PAÍS English
US announces it will do ‘whatever is necessary to support Argentina’
Treasury Secretary Scott Bessent says he is negotiating an economic bailout for Javier Milei amid market pressure against the far-right leader’s ...
Link?
It has something to do with this, I suppose...
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Don't fall for it! Its just more poison to kill us off!
The reason is that the Peronistas won the provincial elections, convincingly. Markets are not taking it well (currency, stocks etc.). Meanwhile Milei's team took the (imo) ill considered decision to create a slowly expanding "band" (think soft peg) around the ARSUSD exchange rate. And the ceiling of the band was hit in the above market panic. They started selling reserve USD to defend that ceiling.
It is faltering because leftists are winning in the polls ...
That made me lol!
I forgot to put "Buenos Aires" after "provincial" sorry.
Shocked 😮
What’s a likely scenario how this will unfold?
It's as if Miles was full of shit and actually did nothing but enrich himself and his cronies. Populists, incompetent people that are the loudest.
How are the US tax payers feeling about this?
Bailing out some bs government thousands kilometers away.
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We will own Argentina now.
It was all planned all along? But yeah, I think you're right.
"Protect the ponzi by all means possible. I repeat, by all means possible."
Anatomy of the Milei Ponzi
In my previous piece on Milei[1] 18 days ago, I argued that the Milei administration is running a debt and inflation ponzi that is coming near its ...
Last time I checked Argentina was still a democracy and polls don't dictate government policy.
Ambiguous wording on my part, but i am talking about provincial *elections*, not opinion polls.
You can find it on saifedean.substack.com