The eccentric far-right populist Javier Milei has failed to win the first round of Argentina’s presidential election, with the centrist finance minister Sergio Massa unexpectedly beating his radical challenger.

Supporters of Milei, a potty-mouthed political outsider described as an Argentinian mashup of Donald Trump, Jair Bolsonaro and Boris Johnson, had hoped he was heading for a sensational outright victory similar to Bolsonaro’s shock triumph in Brazil in 2018.

  • travellingwolf@lemmy.world
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    1 year ago

    As Vis mentioned, it is the better option if the government can’t stop itself from printing money and fucks everyone over.

    This is the inflation rate of Ecuador before and after they adopted the dollar in 2000.

    Milei now wants to do the same. At least this way people will be able to save (and spend their savings), and the government will have to be fiscally responsible.

    The world has run directly or indirectly on gold (which can’t be printed) until 1973, so it’s definitely possible for an economy to work with a currency you can’t print.