a few countries in Latin America are already using Us dollars though
I think the main problem that if they will start using USD now
then people from US could buy lot of land, property and all that in Argentina
because the prices would be 'small' for them
Argentina should somehow think how to rebuild themselves first
I am from the US, and I can buy an Argentine peso without having to go to Argentina.
I am from the US, and I can buy an Argentine peso without having to go to Argentina.
of course but think about more this way that with same currency and Milei's plans people from US will be more than welcome in Argentina
let's say person from Argentina can buy an apartment
then person from US come, and they can buy 10 of those apartments
and I'm saying this as person from Poland and to buy 1 USD, I need to have 4 ZŁ
and you need 860 argentinian peso to buy 1 USD
you can go here to compare prices
let's say person from Argentina can buy an apartment
then person from US come, and they can buy 10 of those apartments
Do you mean 10 apartments from different apartment complexes or 10 apartments from the same apartment complex in that example?
I think the main problem that if they will start using USD now
then people from US could buy lot of land, property and all that in Argentina
because the prices would be 'small' for them
Argentina should somehow think how to rebuild themselves first
Adopting the US dollar won't make any difference in relative wealth between citizens of the two countries. The idea is to stabilize the currency, stop inflation, and prevent Argentinian politicians from misusing currency expansion to secure political support.
Naturally, the old Peronistas hate this idea, since that was the core of their political platform for many decades.
The only problem is that US politicians are doing the same thing with the dollar, so Argentina may just be postponing the inevitable. If Milei really wants to freak out the looters he should introduce a gold-backed currency - which might attract investors from all over the world who are seeking stability. Taking away the politicians' ability to loot the productive capacity of the nation though currency manipulation could quickly make Argentina wealthy again, and return it to the status it had in the 1920's when it was considered one of the great up-and-coming nations of the world.
I think the main problem that if they will start using USD now
then people from US could buy lot of land, property and all that in Argentina
because the prices would be 'small' for them
Argentina should somehow think how to rebuild themselves first
You know currency exchange is a thing, right? This wouldn't make anything in Argentina cheaper than it already is, someone who currently owns a certain number of pesos would simply own a lot less dollars. If anything, other countries using our currencey will just make our own inflation worse.
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