Topic: Bitcoin is urgent. Argentina is printing free money too - page 3. (Read 498 times)

Such a good solution. Everyone can print as much money as they want, but not everyone can stand. US and China are the biggest powers in the economy and they can do it based on something. Can Argentina do it? Do they ignore inflation? 

That and adopting Austrian economics (such as full reserve banking) else the scare mongers will point at how a deflationary coin is ruining the economy instead. To go deflationary, you must also follow Austrian economics. Argentina like most other countries has only seen the Chicago economics, which is the prevailing one worldwide, and the cause of eternal bubble and crash cycles. Socialists love to lie by pointing at this flawed school and portraying themselves as the only solution, because the free market is at fault, while the reality is that the Chicago school (and the Keynesians before) are at fault, not a truly free market.

Once the people learn about the Austrian school of economy, no socialist lie will ever prevail again. This is what Macri and all others need, no more populism or socialist traps that would only ruin it all as it always does.

It is surprising news for me, as I cant believe that a government do this kind of thing. Do they even think what are the bad effects of printing more money? I do believe if it is happening in my country then there will be non stop demonstration against the government's decision.

It leads to a global collapse of th econnomics. Which has long been predicted by science fiction and filmmakers. Remember fantastic movies mostly use loans there. There is a possibility that humanity will come to a new single currency, but it will not happen soon the century will pass.

 they do not save the market by printing money, because when printing a lot of money, the value of the currency will decrease and it will show up on the balance sheet in the forex market.
they just adjusted their economy by printing money, not making their country richer by printing money.

Well we can't do anything if the governments print so much money and some of them just destroy a country economy and people lives, but indeed someone should stop the debt if possible.

The part where you said the debt will never get paid is interesting. Could it be how they run this thing or you are just assuming?
I once thought the huge debt are used to scare citizens and  to compel their governments to spend responsibly whereas most of the debt probably won't get paid in the end?

It is crazy how government just manipulate the currency as they want, but does not this lead to their currency going down since they are printing it out, but obviously this is one of the cases where we knew about it, but for sure they have been doing it for years under the table the same as the other countries where money is being printed and put to banks, if this keeps going it will lead to a finical crisis, the same as the case of zimbabwae where they have a currency of 1 trillion dollar worth only 0.4 actual us dollar.

i wouldn´t compare usa government with Argentina government. Here in Argentina is crazy how much influence the goverment have in the central bank and how they mess with the dollars reserves to pay old debt and leave worthless IOU in exchange. This year de inflation is going to be 50% and the interest rate in pesos are 67%. The peso will get destroyed the next few years and i hope we either create a crypto-peso to replace it or maybe use the dollar as currency to reduce the inflation. 

I am not interested in the activities of significant countries because I know that Bitcoin cannot print more, and its price is increasing every hour. If Argentina continues to write money for free, it will cause the country to fall into an economic crisis when inflation may appear.

Wow make some more baseless assumptions. Those so called capitalistic paradises like United States has a lot of homeless people living in tents and eating out of trash cans.  This isn't the fault of socialism, its because of corrupt people in power.  No matter how good a system is in place if corrupt or stupid people are in charge it will fail.

for the present time it is appropriate to use and legalize it, so that later it will be able to improve the economy of the community so that the country's economy can be helped, even though it is like the country's bets

The desperate measure here could be to legalize Bitcoin and cryptocurrencies overall thereby providing all of their citizens an alternative mode of payment which could possibly improve their economic condition.

This would help drive adoption higher too which is why this would be a win-win situation.

I am not surprised. Typical Latin American country with Socialist government, and as usual they have run out of money. The people in that part of the world have a tendency to vote for governments that offer freebies. No one wants to work hard and if someone has the balls to stop the freebies and subsidies, then he'll lose the elections.

Quantitative easing in the economy helps solve difficulties in a short time and recovers the economy that is about to fall into crisis. But we can see this will soon negatively affect the whole economy of these countries when inflation rises, and money no longer has an initial value, then governments will implement policies. What next?

Well they are actually not printing physical fiat money anymore, because with fractional reserve banking, they simply create money from thin air.  The Banking system have learned nothing from the 2008/2009 near economic collapse, because there was no repercussions for their bad behaviour.  

The third world countries like Argentina and Venezuela and Zimbabwe have to take desperate measures to save their economies, but they are just digging the hole deeper for their own demise.  

Print more free money can cause of their own currency to reduce its value. We may not notice many of the countries today are doing that especially Venezuela, Bitcoin can be the best solution in this problem because government can't control it and it can be their digital assets.

If thats the warning then what is Venezuela? Argentina WAS bailed out, without anyone expecting it, back in the 2000s by none other than Hugo Chávez, who literally saved Argentina when she was defaulting on her debt and no one wanted their bonds. Chávez ordered a massive buyout (using Venezuela's money, mostly from State oil PDVSA and taxpayers) to help his friend Kirchner, and the bonds suddenly soared so high that Kirchner sold them and paid the entirety of the then Argentina's debt with it.

But then socialist policies came and wasted all the money again, and now nobody bails Venezuela which is in a far worse position and for a far longer time now. 60% yearly inflation? try a million and see if you like living with 5 USD a month, that's the Venezuela where a de-facto government INSISTS in financing all the insane socialist spending by adding money digitally (because printing banknotes is too expensive in this day and age).

I don't understand how someone like Macri who is a businessman would agree to fall into this trap. If you can't pay your bills start shrinking that State, sell what needs to he sold and re-float the country like you would with a company in red. If he lets the socialist thinking prevail, Argentina will have a much grimmer future, just look at Venezuela.

I think this is possible as long as the US economy growth is great. What if they overuse it? Does this make their inflation high too? Knowing they have the most economic power and they control large money supply?

I think if Argentina will do this most small countries will do too.

Didn't the existing system crises of the world economy have always emerged for this reason?

Let's make a simple calculation. How much do you think a $ 100 banknote can cost? I think it costs less than $ 1 per piece. But we think $ 1. In other words, the Federal Reserve is able to obtain $ 100 with a low cost of less than $ 1.

I think this is a huge event for USD, which is valid for almost every country on the world. If USA wants it, it can create millions of dollars with a very simple decision to make money.

As profesor explains in my introduction to Economics in my early years at the university, countries have enormous economic power even by controlling money supply. With the simple money creation process, USA can help the world economy. I'm guessing that they already did.