Argentinian President Javier Milei lives up to pre-election promises
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- Опубликовано: 11 дек 2023
- Argentina’s new President, Javier Milei, lived up to his pre-election promise and today devalued the peso by 54 per cent.
The peso was worth 366.5 pesos per US dollar before the devaluation.
It is now worth 800 pesos.
Mr Milei threatened to get rid of his central bank altogether and to replace the peso with the US dollar as its staple currency.
In a video to Argentina, Mr Milei repeatedly said there is “no more money” as government spending was slashed.
We need this all over the western world…patriots in government…well done Argentina..all the best from the uk ✊🏼
👍👌💯
Well done? Their economy will further deteriorate!
🤮
@@fitriroslan403😂😂😂 COPE LEFTIST, FREE PAKISTAN!
He's exactly what we need 🇦🇺
No we don't. Do you want US currency instead of Ozzy dollar? I don't.
@@SD._
La dolarización está pausada, Milei quiere sanar rápido la economía que dejaron los comunistas.
@@SD._regards from Sydney.
👍 👍
Ozzy dollar is junk. You ozzy need to use our mighty toilet paper usd now
@@iggy5347 mate you are a jerk
VIVA LA LIBERTAD CARAJO
Viva la Libertad !
Javier Milei❤
Good luck Argentina hope he gets the country back in order.
Yes, but he has not & will not extinguish the Central bank. If he tried he would be extinguished!
More like selling it to the US for their petrol dollars.
So he devalued the currency from $400,00 pesos one US dollar to $800 pesos and you think he is going to get the country back in order. Do you understand what happens when countries devalued their currency?? The consequence is called inflation. It means that the food you bought today tomorrow will cost double. Wake up and smell de roses.
@@elcidcampeador-vr2ol You can export and get foreign currencies and inward investments.
funny how they forget to mention that the real value of the peso was nowhere near the official rate. The official government value of the peso was dictated and enforced but the peso was being sold on the black markets at higher volumes at half of it's official rate as people rushed to ditch it. This devaluation is done in an attempt to reconcile the official rate with the real black market rate. Rather important context that everyone seems to omit in their news reports.
Not to take away from the achievement, it is hard to stay popular when you slash the value of the assets that people hold. But what you say is correct because the market rate (unofficial rate) is still weaker than the official rate,l even after this move. They have to be equal (free float) before they can dollarize and he has to continue weakening the peso. It is obviously a crucial point they leave out and the only people who are affected by this is the government ministries and the connected people who get the "favored" rate (official rate) directly from the central bank.
I love seeing Argentina taking back their country. We need this in America, Canada, Australia, NewZealand and Ireland.
👍👌💯
Unfortunately, Canada can't do it purposely due to their obligations under CUSMA (Canada United States and Mexico Agreement).
Furthermore, if Canada devalued their current to an extent that Milei does, and USA could be on a verge of a possible right wing dictatorship, Canadian goods will be subjected to massive tariffs in the hands of Trump.
Secondly, further devaluing currency will make Canada's housing, food, and affordability crisis even worse, which plays in the hands of their own Donald Trump and Javier Milei wannabe, Pierre Poilievre and Canada's Conservative Party which will be terrible for Canada.
As for Ireland, since they are a Euro Zone country, their monetary policy is under European Central Bank control.
@@HalifaxHercules you lost me at right wing dictatorship.
@@philipcrawford7415right , give America to the Natives, Canada to Inuits, Australia to Aborigines & New Zealand to Maoris 😂
What is wrong with those countries?
They'll try to do to him what they did to Trump here in the states. He actually kept his promises too, and the establishment doesn't like it because they want to keep you down
Just wait for the US backed Coup d’état, like they over-through President Allende in Chile.
Trump 2024 🇺🇸
"F" the Democrats!
Trump never built the wall and never drained the swamp. Milei starts delivering shock therapy within days of being sworn in. Milei is the opposite of Trump, because Milei actually gets things done.
The establishment benefited heavily from Trump tf are you taking about
He said he would get rid of the peso for the dollar, and the peso just dropped 54 percent...sounds about right.
The peso is currently overvalued because of the artificial government peg. He has to devalue it to match the real "black market" rates before he can float it. Once it's no longer artificially pegged, he can start exchanging it for USD.
It did not drop. It was intentionally brought down.
No, it was done to make it accurate to what the actual Peso value was
He commented abt economics despite not having a clue, and the comment just proved it.... sounds about right.
@@MinecraftMasterNo1 Don't forget that Argentina tried US Dollarization in the past, but it was a total failure, which is why they went back to the Peso in the first place.
good luck to you sir , its going to be hard to clean up that garbage can that has become so rotten
It's too bad Ray Liotta has paased. He'd play this man perfectly in a movie.
He looks like chubby Robin Williams playing Wolverine, which makes heim even cooler.
This guy seems battier than a fruitcake, but I like him...
Perhaps I’ll move to Argentina. How long will be serve?!
Yes, but he has not & will not extinguish the Central bank. If he tried he would be extinguished!
Según el gobierno de Milei, tardará un año como mínimo para comenzar a estabilizar la economía y empezar a aplicar las verdaderas medidas para liberar la economía.
@@franco4469 Good luck to you my friend, hope things will go well. This will be a huge shock to the economy.
no recommended lol
*he*
Milei is the only way out.
There is no more money!
Viva la libertad carajo!
Sure ,I could buy a comb but Klaus shwaab took all the countries money
Smart Guy.
Will be fun to watch the ride; from the outside.
Couldn't be any worse than the leftie Socialists who run the country to benefit themselves..
Expect more politicians like this as the ideology driven, hypocrisy defined left catastrophically fail worldwide 👍
Yes, but he has not & will not extinguish the Central bank. If he tried he would be extinguished!
Trump 2024 🇺🇸
"F" the Democrats!
I sure hope you're right cuz it's not looking too good for us right now. With all the immigrants that just went through and then they're going to find a way to make them do some crazy means or put them in the military so that they get citizenship like it's just looking like this whole thing's rigged right in front of our faces they got away with it once rather many times obviously so why can't they get away with it again and this one seems like the most important one
they always do! people never learn
Could Joaquin Phoenix play him?
Fat Sean Penn.
Peoples savings is now 54% less worth. And who didn't had savings in dollars? The poor. The old. Not the rich or Milei.
From Brussels, Belgium, LONG LIVE Javier Milei!
Majority of the people commending here seem to not understand what 50% devaluation of your currency means.
Argentinians you guys got to work your butts off to save yourselves, there is no other way.
There is another way. Flee north to the US border before Trump closes it. Run like the wind.
no, what do you mean, argentines elected this man, when it comes to trump, americans didn't elect him, electoral college did, this is why it caused democrats to sin very badly,
i don't hate trump, i don't think he was as bad as media made him seem, but argentines actually elected this man through popular vote, so i assume they know what they did,
He promised that he wouldn't raise taxes. He did. Surely, some people would think that it is temporary, but history have many examples of "temporary taxes".
Temporary...
And tomorrow he will announce 3000 economic deregulations
I don't remember any time in history that a politician promised something better in exhange of the "temporary" misery of their people and actually delivered.
Be careful! The "devaluation" was of the controlled fixed exchange rate, to get near the real free (black market) exchange rate.
This was not a real devaluation, because nobody wanted pesos already and a dollar costs 1.100 peso on the black market since a month ago.
The Peso has to float freely, it will take some time for official rate and black market rate to equalise and then get confidence from foreign investors that accept they will get a fair exchange for their dollars / Euros / Yen for Pesos. Once the currency is trusted there will be demand for it again, or if he sticks to his plan Argentine can then start buying US dollars.
@@peterschmidt1453 That's correct, but when the inflatiion rate in peso will come near to 0% Milei shall high the bid and put the ante of abrogation bill of legal forced currencies tender and close down the central bank. Stupid inflation will be terminated forever in Argentina. May God let it be.
He just made Argentine exports much more attractive to foreign consumers/importers. The economic growth will be tremendous. 🇦🇷 🎉
Dear god… He’s done it…
Do it again
I hope he is for real and cares about the people of Argentina.
Right now, Milei proves that he doesn't as purposely devaluing the Peso will make goods more expensive for Argentinians as the South American nation imports a lot of goods from other countries, especially USA, European Union nations, Brazil, and China.
It might serve as a lesson for Canada not to vote for Pierre Poilievre and the Conservatives as he'll do the same thing as Milei and Trump.
r@@HalifaxHercules mentira el dijo que nunca seria facil salir y que los primeros meses seria pero y incluso con las mdedidas que tomaron el riesgo pais bajo como el dolar no aumento asi que no digan estupideces.
@@HalifaxHercules Well you can only live on borrowed money for so long and then they won't lend you anymore. So better to live within your means. Kind regards.
@@HalifaxHercules he's devaluing it to match the actual market value of the peso, the previous 1 to 300 was artificially overvalued. otherwise he can't stabilize the economy and start switching to usd
@@user-ij5ef2mn8n lo mejor es que va a cerrar el ministerion de la mujer, genero y diversidad y el ministerio de ecologia y desarrollo sostenible!!!
Don't listen to what the community says, look at what the community does
Theres a possibility hes a dead man walking
He's not left the Paris agreement yet. Will he
I like the cut of this guy's jib
With his background in economics and his love of his country, Argentina couldn't ask for a better president. Well done Argentina. You're on your way back from left wing stupidity.
Bam.
now the peso has got the real value of what it should be, he can start replacing it with the US dollar.
Everything will be just fine Argentina but it's going to take time to reverse the damage done by the socialists.
But will he unban Roshi/Dragon Ball?
I know it's not as important as their money situation but ever since I heard about how some feminist group apparently got DB banned in Argentina because of Roshi being harmful to women i can't help but think about it every time I hear about that country.
Or was that already resolved or am I confusing it with other country?
I think that has been resolved if I'm not mistaken. But yes, he already eliminated the Ministry of Women who was the responsible for banning Dragon Ball. They also had a budget way higher than education and healthcare and they did absolutely nothing.
Eliminaron Dragon Ball Super en 2021 por Cartoon Network, pero este último año volvió a la TV por medio de Warner Channel. Otro dato: Milei planea vender la Televisión Pública, y se estima que uno de los compradores sea Disney/Star/Fox/Marvel, y si mal no recuerdo hay un par de películas de Dragon Ball que eran distribuidas por Fox, supongo que pronto serán emitidas justamente por la TV Pública en un futuro 🤣🤣🤣🤣🤣🤣.
(También The Simpsons, Spiderman Homecoming, Ladybug, Pokemon Movies 4 to 7, como también Dragon Ball Evolution y DBZ Battle of Gods pertenecen a derivados de Disney 😲)
OMG...
Quick clone him, we need those genes. A politician that keeps their promises, rarer than rocking horse poo.
This sent me man 🤣
Bruh the entrance :D
As a libertarian, shouldn't he be floating the peso, not devaluing it?
No puede liberarlo, primero necesita acomodar las cuentas del gobierno. En Argentina existen muchos tipos de dólares, está el dólar libre (también llamado dólar blue) y el dólar oficial. Milei subió el dólar oficial que estaba en 400 por 1 dólar, muy bajo si lo comparas con el dólar libre que estaba en 1100 a 1 dólar. Subir el dólar oficial significa que las empresas exportadoras tengan mayores incentivos para exportar, algo que no se venía haciendo porque consideraban que el precio del dólar estaba muy bajo.
La economía Argentina es muy compleja.
@@franco4469 Interesting.
The peso is currently overvalued because of the artificial government peg. He has to devalue it to match the real "black market" rates before he can float it.
The Central Bank can print Pesos but can't print the US Dollar since its the property of the US. That's why he's getting rid of the Central Bank and the Peso altogether.
@@MinecraftMasterNo1 why
When the times are tough it's always comical to see stupid gets handed the power ...
The evidence clearly shows that "Stupid" has lost power.
Yallll pissed off the emerald order… and here we go
What? What you talking about? Unclear reporting.
He shud just copy El Salvador and adopt bitcoin
The government doesn’t need to do that. The people can do it on their own…
And when bitcoin crashes (like it has in the past), what will they do?
@@dyawr The peso has crashed far more than bitcoin ever has, multiple times. Also… despite the volatility of bitcoin, as long as governments keep printing money, bitcoin will keep going up over time.
El Salvador legalized bitcoin and began putting bitcoin on their balance sheet. Everyone called their president crazy. Then… bitcoin crashed. People laughed at him. He didn’t care. He kept buying more bitcoin. And just recently, they are now back in profit. In one year… they will be in massive profit and he will have the last laugh.
Again… as long as governments keep printing money… bitcoin will keep going up. And since governments will never stop printing money, bitcoin will never stop going up.
This is exactly what bitcoin was designed to do. It was designed to destroy the fiat money system and prevent governments from printing money. And so far, bitcoin is winning. Soon, governments must stop printing money OR their currencies will be destroyed by bitcoin as everyone starts selling all their paper Monopoly money into bitcoin.
But… that is the funny thing… if governments are forced to stop printing money due to competition with bitcoin, then the currency is of no use to the government. Fiat currency is only useful to the government if they can print it on demand. If they can’t print it, then they might as well just use bitcoin. So, either way, bitcoin is going to win the war.
The government should stick to the traditional way of Economy with Traditional Currency. People should be given the option of using bitcoin.
@@seventhuser904 What do you define as “traditional” currency? Paper money that is printed by a government? You realize that the “traditional” system is a basically just a 50 year old experiment, right? What you call “traditional” began in the early 70s when they took the dollar off of the gold standard. The entire system is essentially a Ponzi scheme based on the idea that people would continue having 4 or 5 babies. The problem is that people stopped having 4 or 5 babies, so there are no longer any new people coming into the system to sustain the Ponzi. What happens to a Ponzi scheme when it no longer has new people? It implodes.
And it is imploding. Look at any chart of the debt and the money printing. It is increasing at an exponential rate. And it has gotten really crazy since covid. When you look at these charts, it is laughable. It is obviously unsustainable. It could implode tomorrow….
The existence of bitcoin is just going to make the implosion happen faster. Why? How? Because bitcoin is the escape. And people are slowly beginning to understand that. You can hold your paper which is being printed to infinity and losing value. Or you can sell your paper money for bitcoin. Something which can’t be printed and gains in value over time. As more people figure this out… more people will just sell their paper money for bitcoin. The more people that do this will drive the paper money value down further which will force governments to print more and more. It is a death spiral and it is beginning now. Actually, it has been happening for decades… but we are at the tail end now.
I suggest you sell all your government printed paper money for bitcoin now.
Why do so many world 'leaders' have ridiculous hair
👍🏼
Thats that "after sex" hairdo right there😂😂😂😂
Congratulations, Argentina
I was disappointed though that he would NOT be prosecuting those RESPONSIBLE for Argentina's catastrophe! 🙁
He would probably end up dead if he did, the Socialist corruption would extend to the police, the army and even organised crime. These people have plenty of guns, they are still in change of many of the functions of the state and have a lot to lose.
I think going after them right away is a bad move, he needs to fix whats broken first and send the country on an upward trajectory before he could turn his attention to the criminal dealings of the past
@@SilverSylphide I sure hope that’s the plan
No politician will prosecute a fellow politician. They are ALL the same.
He is the president, he is proposing to separate the power of government from the Justice system.
So it's the Justice system who has to prosecute corrupt politicians.
Hahahahahahahahahahahahahahahahaha.....(sigh)......hahahahahahahahahahahahahaha 50%.
Purposely devaluing the Argentine Peso to next to nothing is one of the biggest mistakes this South American nation has ever done.
For starters, Argentina will get red flags from its major trading partners, especially USA and European Union, for purposing manipulating their currency to attract investment.
If Trump becomes USA's next president come 2025, Argentina will definitely be singled out for sure.
Secondly, Argentinians will have to endure massive hyperinflation, making food and basics very expensive.
While the South American nation can produce their own food, especially along the Pampas and Northern Patagonia, they still have to import some from other countries, especially Chile, Brazil, USA, and the European Union.
If you want to fight inflation, you appreciate the currency, not devalue it.
Milei definitely failed economics.
This is done to create a better trade balance. It makes exports rise dramatically bringing earnings and investment into the nation. They need to sell more than they buy. Inflation is fought with interest rates and money supply.
The one who isn't understanding Argentinian economics is you, Argentina has a lot of different types of currency values, the one he devaluated was the "official" value which is whatever the government says it's the value, if you look in Google "1 dollar to Argentine pesos" and you see the graph of 1 year, you will see how the value was frozen in $350 for a lot of months even though we still had 140% inflation (and to be able to do this they needed to print a lot of pesos to keep that value frozen).
And then there is the unofficial value (also called Blue) which is the real value of the currency according to markets. And the Blue value of 1 dollar was already around $1000 pesos, and even today remained the same value.
He didn't devalue anything he just removed controls on the exchange rate that prevent it from reflecting the real market value of the peso. Previously the peso was artificially valued higher than its market value. So in short, deregulation.
@@lawtutoring He changed the value of the "official" currency from $366 to $800 pesos ( = to 1 dollar), but the real market value of the peso is around $1000 (1 dollar). He multiple times explained that he can't remove the control of the exchange rate before fixing the problem of the debt bomb of the Leliqs because it would cause an hyperinflation otherwise.
The people had to save 366 pesos to by $1usd.
Now they have to skrimp & save 800 pesos to buy $1usd.
And he's says he's switching over to USD.
Real economics, not fairy tails.
The currency just dropped 54% and falling. Go north to the US border before Trump closes it you gauchos. Ride like the wind.
The people couldnt buy a dollar for 366 pesos.
If that was possible i could just go there as a brazilian with 1 real and keep buying from the government and seling on the black market and make 200 million dollars in less than 30 days
Yes, it's going to be damn hard on the people, the value of their savings is cut in half. The Socialists have tried to keep playing games for decades to print and spend money they don't have and have destroyed the Peso. Black market money exchanges do not exist in financially stable countries, the official exchange rate is all there is and foreigners are happy to exchange currencies. For an honest economy you need honest currency.
With the previous government of incompetent thieves, they only allowed you to buy $200 USD per month, plus a 155% tax. Additionally, if you accessed certain state subsidies, they outright prevented you from purchasing dollars..
Relax labour rules a bit and privatise few psu ..open up market for business.. argentina ll rock..
Smash socialism
Give it a rest.. he’s been in all of five mins.. Sky really is little more than a cheers squad for right wing ultra nationalists and an echo chamber for neo con aspirations
Except that Milei is a libertarian, so centre NOT RIGHT WING.
Love it!
This is way too good to last.
- Another puppet has been added to Uncle Sam's theater.
- Your Western criminal empire is collapsing, and Argentina will not help you ! :-(
Stop crying all over
Argentina's new leader is an inadequate puppet of Uncle Sam's Puppeteer :-(@@Rockyguy381