Whoah whoa there! That's not what I said.
"Milei's plan to swap one central bank's fiat currency with another central bank's fiat currency will end in disaster."
The final bullet-point is not directed at you, it's an amalgam of predictions (explicit or implicit) made by several posters who are criticizing Milei's plan to shutter the Central Bank of Argentina.
Argentina is set to do something truly unique and independent, but he'll have them turning over that newfound freedom to the Federal Reserve.
Once again, Argentina is in no position right now to stop a US Military invasion, so they have no realistic choice to make precious metals their legal tender. That's how you get invaded by the US Military (esp. if you have oil, as Argentina does). So, he's just dollarizing for now. This is a proven solution. It will work. The problem in this thread is that the moment Milei says, "Let's do X because X is good", there are a million critics deboonking him because "He should do Y instead because Y is perfect!" In politics, the perfect is almost always the enemy of the good. Going from the worst thing in the universe (the Argentine peso and its evil central bank) to something that is not great, but usable (good enough) will be a
massive boost to the Argentine economy. Is it a permanent solution? Of course not. Maybe 5-10 years from now, Argentina will have enough economic strength to be able to flip the bird at the Fed's shock-troops and they can move to precious-metals. For now, the USD is practically gold compared to the peso.
It's kinda like how Scotland is always whining about independence from Britain, yet the majority there wanted to remain in the EU during Brexit. I mean, duh. Trading one weak master for a stronger one . . . I guess things must be pretty bad in Argentina if it sounds like a good idea.
Once again, you are misunderstanding the nature of international central-banking. Argentina, like
ALL countries in the US sphere of influence, is
already under the Federal Reserve. The United States exports its inflation to
all subject states in its empire (aka sphere-of-influence). This is all explained at length in this article by Hans Hoppe, which I already linked above:
Government, Money and International Politics. Please do read it as it will turn your world upside-down. Based on your post, it's clear that you do not understand just how insidious the Fed really is.
Argentina is already subject to the Fed, so this is not "going from one master to another", it's eliminating one level of subjugation.
