RC's latest photo op sent me on a knowledge quest about Argentina, considering his photo with the new president of Argentina, Javier Milei.
Just watch this - warning: it's an hour long & very information-dense: https://www.youtube.com/watch?v=9WRDQO0kRyI
I've worked with Argentine expats but never bothered to ask why they'd left. Argentina's history is a DISASTER. I was hoping to walk away with economic or political knowledge framed with Argentina as an experimental subject, but instead it's a cautionary tale of human greed, power-grabs & corruption.
On to Javier Milei. Before I provide commentary & my opinion, read this: https://www.washingtonpost.com/world/2023/08/14/javier-milei-argentina-presidential-election/
Although I agree with his desire to replace Argentine currency with USD due to their disastrous currency history & inflation, I greatly disagree with many of Milei's personal opinions - but whether they impact his policies, given his desire for a "minimalist" government, remains to be seen. In a pure "libertarian" government his personal opinions shouldn't matter, but he seems to be a loose canon with an ego. I also very much disagree with his proposed policies, but I certainly see why Argentinians were curious to try something new - it couldn't get much worse.
He may lead the Argentinean experiment down a completely new path, while political & economic experts can watch from afar to validate their hypotheses. What may taint the experiment, however, is backing the USD - The US is their largest trading partner and closer ties with the US may override any policy flaws enacted by Milei, similar to flawed Reganomics taking the credit for temporary benefits.
Why did RC feel the need to post his picture with Milei? I get the impression RC is a libertarian, and Milei has marketed himself as libertarian-incarnate... just ignore his contradictory and slightly psychotic opinions. Theories:
- RC further alluding to, or pontificating, future US economic instability?
- Argentina is becoming a Crypto haven due to the population's reliance on crypto as a store of their life savings given their currency's immense devaluation. GME's Wallet & NFT marketplace were sunsetted due to alleged legal uncertainty in the US, so is this indicating RC's plans for "GMEntina" (there's no way I'm the first to use that phrase, right?)? Was RC attempting to negotiate financial investment given the prospect of favorable crypto regulation?
- Is there something significant about Argentina's securities regulations? I have no knowledge of Argentine securities law, except a cursory search showing the Argentinian Stock Exchange, BYMA, just allowed short-selling in April of 2018 with an advertised control system to "detect abusive practices and the accumulation of short open positions" -- 1) yeah right, and 2) wouldn't Milei's policies want to de-regulate the markets?
- Was this an indirect clue to someone else RC was rubbing elbows with who also met with Milei, such as Musk (smh)? I've heard he was meeting a lot of people, but unsure who. Note that Argentina posesses vast lithium reserves, which I'm sure piques Elon Musk's interest.
Unfortunately Milei seems like the kind of guy who'd be OK with the sale of kidneys to those who recently had their kidneys stolen from them, in exchange for indentured servitude of the victims & their children. Capitalism must be regulated, much like a nuclear reactor, else it will briefly burn bright, destroy itself, and cause suffering.
RC, please please choose your bed/twitter-fellows carefully.