What if Javier Milei Allowed Argentina to Default? 

I think another reason why gold doesn’t appreciate as much in price is because it is less common to borrow dollar against gold than it is to borrow against real estate. So people more often short dollar in favor of real estate, than in favor of gold. Besides that, thank you saifedean for your work, you are really inspiring!

He should run dual currencies fiat vs Bitcoin to let one appreciate in value against the other. Save in Bitcoin, spend in fiat.

If Argentina refuse to pay its old debts, I believe the biggest problems would be that other countries could choose to sanction in different ways the country, cutting Argentina from most of Global trade or by making it pay more to be able to trade worldwide which would be basically the same or worse than just continue paying it. So, I do not see it as an aswer and it would be worse for the libertarian name worldwide and for future libertarian leaders to be elected. If Argentina wants to do something about it, it should do it internally, seize assets from the corrupt leader to repay the debt, it obviously would not be enough but it would help, send a message for the next ones that have the same ideas. Also the people also needs to take the burden of the resposabilidaty of their previous choices and if a generation has been roobbing another, then this should also be adresses internally by lowering the value of the highest pensions or something else similar.

Just finished watching a few of P Bagus's misesmedia lectures

I like the prominently placed books on your bookshelf 🤭

دكتور ياليت لو تسوي قناة لك بالعربي ❤. لقائك في بدون ورق كان جداً ممتع 🌹

The problem with defaulting is the social crisis that comes with it, the opposition will have enough support from the creditors to topple mileis goverment. He has to go the salvador route and pay the international debt

00:23 🌐 If Javier Milei defaults on Argentina's foreign debt, the government's reputation as an efficient tax collector and payer of bills would be jeopardized. 01:45 📉 Defaulting could lead to a collapse of the peso, foreign exchange issues, and a hyperinflation scenario, resulting in dollarization of the economy. 04:02 🔄 While defaulting may seem like a good idea, holding dollars without borrowing may expose the government to constant devaluation, making it unsustainable in the long run. 05:23 ₿ Stacking Bitcoins in the treasury could be a solution, as Bitcoin's appreciation over time could provide a stable source of value without the drawbacks of traditional fiat currencies. 06:33 🪙 Gold and silver are not ideal alternatives due to lack of appreciation and practical difficulties in trading; Bitcoin's characteristics make it a more viable option. 09:48 🔄 The transparency and verifiability of Bitcoin distinguish it from gold, allowing individuals to independently confirm the supply and ownership, making it a more reliable monetary standard. 11:31 🏛 Holding the government's cash balances in Bitcoin is a bold libertarian position, offering financial autonomy and challenging conventional economic norms.

To have so much inflation means Argentina already has defaulted.

If Argentina defaults, instantaneously hiperinflación makes 90% of the country poor or less than poor. President Milei's plan is use dollar as a measure of value of the central bank to liquidate it. Then is free currency adoption by the people. Everyone could trade in the currency they choose (The thing is that we measure things in dollars instinctively). Argentina has a second legal currency, the Peso Oro that is backed by its value in gold.

That's great. Now explain that to Miley. Do you think Miley, being an economist, doesn't know the difference between dollarizing an economy and bitcoinizing it? Knowing what you know, do you still trust Miley?

If he had joined Brics and defaulted he would be in a good position. Brics do not penalise default.

What will be the consequences if Argentina defaults? About the same as in 1998, when the first in the history of Russia young libertarian and capitalist government of the Russian Federation declared default. Although no one in the West expected this (of course because their usual way is to kick the "debt can" down the road for as long as possible). The Russians have chosen their path - short-term pain for long-term gain. 25 years later, the Russian Federation has one of the lowest level of public debt in the world. The forecast for GDP growth in 2023 in Russia is about 4%. The industrial PMI index in the Russian Federation is 54.6 - in second place immediately after India’s 54.9. India is in first place in the world for this indicator, the Russian Federation is second, and China is third. German PPI - 43.3 Most of western economies in year 2024 are already in recession (it depends on how you calculate inflation) or expecting "soft landing" (whatever that means). And debt is going through the roof. The Russian economy in 2022, in terms of purchasing power parity (PPP), overtook the German economy and now is the first economy in Europe by size in terms of this indicator. I know, I know, as a follower of the Austrian economic school - these estimated valuations are a big pile of BS, but they at least somehow show the picture for the average person. One year later, Lana Nagornaia intreview about Russia is somewhat irrelevant. Of cause, sanctions work, but not quite as West expected. Almost 2 years have passed since the start of the war against NATO, most of the problems with imports that arose due to sanctions here in Russia have already been resolved. The Russians have either learned to produce the missing imported parts themselves, or buy them from friendly countries through so-called “parallel imports.” Another part of the goods is imported from China. For example, here in the Russian Federation we have learned to produce our own ABS and ESP systems for cars. Over time, industrial scale production of everything necessary will be established. The work is going on. The production of national civilian passenger aircraft is now starting. In 10 years, no one in Russia will need Boeing or Airbus. The same thing applies to turbines for power stations. Nobody will need German Siemens anymore. And the list of import-replaced products goes on and on. Thus, Mr. Obama was the most pro-Russian American president. With his first round of sanctions, he forced the Russians not to sit on their hands and rely on cheap imports, but to reindustrialize economy. Thus, Russians are 100% motivated to move forward. Today, almost all Russians understand that there is no way turning back. On the other hand, the Argentines chose the western path. Time will tell who was right. As for NGU technology, you should watch the interview with Vlad "The Bad” Putin about Bitcoin and the prospects for its use instead of the dollar. Putin says that perhaps this will be promising in the future, but for now volatility prevents it from being used for payments for oil or gas exports.

What if the USA did this 🎉🎉🎉

And remember, Swiss now is joining NATO, it cannot be considered a neutral country anymore for holding the gold of other countries!

That is absurd. Milei is a JP Morgan WEF president. Have a look at who the following are, and their roles in the new government and former employer: Caputo, Quirno y Bausili ? It is the revolving door scenario. Not a Bukele. What a joke!

Bitcoin > Gold and Silver > Real Estate ANY DAY!