Presidential Candidate’s Insult Causes Argentine Peso to Plummet
The national currency of Argentina, the Argentine Peso, has experienced a collapse in value after presidential candidate Javier Milei compared it to excrement. Milei, who is favored by polls to win the upcoming presidential elections, has been advocating for the dollarization of the Argentine economy and considers the local peso to be worthless. The ruling government has accused Milei of “public intimidation.”
According to statistics, Milei has a 74.2% chance of winning the upcoming elections. Other front-row candidates include Economy Minister Sergio Massa from the ruling coalition and former security minister Patricia Bullrich. Massa has a 16% chance of winning, while Bullrich’s chances are at 9%.
After Milei’s statement comparing the Argentine peso to excrement, the currency’s value plummeted to record lows. The candidate urged citizens to choose the dollar over the peso, stating that the peso, being issued by Argentine politicians, is worthless and cannot even be useful as fertilizer. As a result, the value of the Argentine peso reached 1,050 pesos per dollar, which is the highest in the country’s history.
Milei has proposed the dollarization of the economy and the closure of the Central Bank of Argentina due to the high levels of inflation in the country. He believes that these measures are necessary to end the scam of monetary emissions to cover for the treasury and control inflation. Milei has stated that Bitcoin could be a potential lifeline for Argentinians during these times of inflation, as it acts as a hedge against inflation and represents the return of money to the private sector.
The inflation levels in Argentina continue to rise, making the task of dollarizing the economy easier if the price of the USD keeps increasing. Milei has won the primary elections in August, further boosting his chances of becoming the next president of Argentina.
Overall, the collapse of the Argentine peso and Milei’s strong stance on dollarization and Bitcoin reflect the economic challenges faced by Argentina and the desire for a stable currency among the population. The upcoming presidential elections will likely play a significant role in determining the future economic policies of the country..
#Argentine #Peso #Crashes #Presidential #Candidate #Calls #Excrement
The national currency of Argentina, the Argentine Peso, has experienced a collapse in value after presidential candidate Javier Milei compared it to excrement. Milei, who is favored by polls to win the upcoming presidential elections, has been advocating for the dollarization of the Argentine economy and considers the local peso to be worthless. The ruling government has accused Milei of “public intimidation.”
According to statistics, Milei has a 74.2% chance of winning the upcoming elections. Other front-row candidates include Economy Minister Sergio Massa from the ruling coalition and former security minister Patricia Bullrich. Massa has a 16% chance of winning, while Bullrich’s chances are at 9%.
After Milei’s statement comparing the Argentine peso to excrement, the currency’s value plummeted to record lows. The candidate urged citizens to choose the dollar over the peso, stating that the peso, being issued by Argentine politicians, is worthless and cannot even be useful as fertilizer. As a result, the value of the Argentine peso reached 1,050 pesos per dollar, which is the highest in the country’s history.
Milei has proposed the dollarization of the economy and the closure of the Central Bank of Argentina due to the high levels of inflation in the country. He believes that these measures are necessary to end the scam of monetary emissions to cover for the treasury and control inflation. Milei has stated that Bitcoin could be a potential lifeline for Argentinians during these times of inflation, as it acts as a hedge against inflation and represents the return of money to the private sector.
The inflation levels in Argentina continue to rise, making the task of dollarizing the economy easier if the price of the USD keeps increasing. Milei has won the primary elections in August, further boosting his chances of becoming the next president of Argentina.
Overall, the collapse of the Argentine peso and Milei’s strong stance on dollarization and Bitcoin reflect the economic challenges faced by Argentina and the desire for a stable currency among the population. The upcoming presidential elections will likely play a significant role in determining the future economic policies of the country..
#Argentine #Peso #Crashes #Presidential #Candidate #Calls #Excrement