Topic: Closing Central Bank is Non-negotiable says pro-bitcoin Argentina Pres Milei - page 3. (Read 457 times)

Argentina and its economy is going to have dark years ahead with a crazy person as president. He will continue making horrible decisions and ruin the country for decades. I know in this forum people are only focusing on Bitcoin and this central bank thing but it is not just that, it is all his bigger and crazier moves such as cutting ties with the neighbors in South America and specifically BRICS.

This is what happens when non-politicians become politicians! He is basically Zelenski 2.0 who is set out to ruin the country.

I watched this man during their election campaign debate and he did not hide mouth about closing the central bank. This kept me wondering how he will go about it and if it is even possible. If yes, how will he regulate their monetary system and will the global financial system will allow it? I don't know if such a thing has happened before and how they managed their banking system.

I feel the man may go the way of El Salvador by legalising Bitcoing. Another option will be to adopt the use of foreign currency like the dollar, the same thing Zimbabwe did during their turmoil.  Well, let's keep fingers crossed and watch as events unfolds. I wish him good luck.

Probably the country may be using a foreign currency, or have a fiat that uses the average prices of some strong foreign currencies. This is just a guess.

And later bitcoin may also be a legal tender in Argentina.

The central bank have function, but inflation is the indication of bad economy which their government is responsible for. They can tell their central bank not to inflate their currency and let their economy to collapse.

Well what is the point of the central bank now that their currency is useless. You keep the central bank and they issue new notes, most likely the same inflation problem will happen.

They are better off just using the US dollar or the Euro, and stay out of their own currencies. Many of their citizens stopped using their currency long ago as it was way too unstable.

The newly elected Argentina president Javier Milei have come to the air to announce his decision to shut down the Central Bank of Argentina as one of his new moves as the president of the country. He made mention of this yesterday on his official statement he released on the office’s X social media handle.


This is the image here.

I have tried to translate it to English using Google online translation tool
“PRESS RELEASE
 City of Buenos Aires, November 24, 2023.-

“The Office of the President Elect of the Argentine Republic communicates that the only official information about the future government, headed by Javier Milei, is that published by this medium.

“In that sense, the economist Osvaldo Giordano will be the head of ANSES and the engineer Horacio Marín will be in charge of YPF as of December 10.

“Regarding the President-elect's agenda, this afternoon he will have a telephone conversation with the president of South Korea, Yoon Suk-yeol.

“On the other hand, given the false rumors spread, we wish to clarify that the closure of the Central Bank of the Argentine Republic (BCRA) is not a negotiable matter.”

From the reactions over the social to this humongous decision, a lot of bitcoin users have expressed gratitude and happiness over the decision including the first thread I highlighted here including this other forum thread whereas others have criticised his decision.

However, my question is, if he's going to be shutting down the central bank, what will be the instrument he will put in place of the bank or is he willing to establish a ‘Bitcoin Bank’ or what exactly?