this post was submitted on 25 Nov 2023
172 points (96.2% liked)

World News

38977 readers
3475 users here now

A community for discussing events around the World

Rules:

Similarly, if you see posts along these lines, do not engage. Report them, block them, and live a happier life than they do. We see too many slapfights that boil down to "Mom! He's bugging me!" and "I'm not touching you!" Going forward, slapfights will result in removed comments and temp bans to cool off.

We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.

All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.


Lemmy World Partners

News [email protected]

Politics [email protected]

World Politics [email protected]


Recommendations

For Firefox users, there is media bias / propaganda / fact check plugin.

https://addons.mozilla.org/en-US/firefox/addon/media-bias-fact-check/

founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
[–] Dead_or_Alive 37 points 11 months ago (3 children)

No it’s worse than that. How are they going to purchase enough dollars to replace their own currency? No one is going to give Argentina a loan to do this.

This project is doomed before it starts.

[–] [email protected] 10 points 11 months ago

You get dollars the same way anyone else would in the situation: You carry a trade surplus vs. the United States and then allow tax payments to be made in dollars. Prices settle as a function of dollars available, rate of circulation, and volume of goods & services available.

The policy should produce a boost in exports & employment but also produce a shortage of goods normally imported. It'll also be a great time for Americans to visit, the dollar suddenly having a lot more purchasing power in Argentina.

[–] marcos 4 points 11 months ago (1 children)

The idea is that since the government can't run a surplus by itself, he will break the capacity of running into deficit and making it so they don't have any other choice.

It's a nice-looking, simple idea that some countries try here and there and never work on practice.

[–] cyd 6 points 11 months ago

never work on practice

There are several countries that use the dollar, including, in Latin America, Ecuador and Panama. They are doing fine.

More pertinently, Zimbabwe's famous hyperinflation was ended by dollarizing.

So it's not an outright crazy idea. I think the doomposting is mainly due to "right-wing therefore bad".