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The argentinean economist suggests that the criptomoneda pioneer help you to escape from the hyperinflation.The expert applauds bitcoin for its power the separator between the currency and the State.The argentine Javier Milei is an economist, writer, teacher, radio host, and speaker. He is convinced that the argentines will suffer the worst crisis of its history, and explains the reasons why he believes that in this south american country, is creating the perfect storm.He enrages when he speaks of the monetary emission that is running the government of Argentina, but on the other hand has referred to bitcoin as something that you will love. He has even shared and commented on in a positive way some of the sentences uttered by the evangelist of the criptomoneda pioneer, Andreas Antonopoulos.Milei, has long criticized the economic policy of the president of Argentina, Alberto Fernández, who in a television interview he pointed out that the country’s economy would improve by increasing public spending and financing it by printing money, which would generate an increase in economic activity. This, in turn, would produce a fall in the fiscal deficit by the issuance of money does not cause inflation, something that Milei is referred to as an absolute madness.
In the last 118 years Argentina had 108 years of fiscal deficit. A part of that fiscal deficit is funded by printing money, because we have removed 13 zeros to the currency, and you should take two more. We had two episodes of hyperinflation without war, which cost us having a GDP per capita which today would be equal to that of EE. UU., have not had that disaster of inflation that was fixed, each time the hyper-inflation surpassed 20%. Not only that, we also use debt, because we are the maximum default creator is modern and also what we fund with taxes and with those taxes Argentina has the tax burden highest in the world in white; and being the richest country in the world, today we are in the position 70 and heading towards the worst crisis in Argentina, because with the disaster money you want to make these gross, we’re going to have hyperinflation and a crisis as never before in the history of Argentina”.Javier Milei, argentinean economist.
More recently, in an interview published in local media, Milei returned to alert you that Argentina is going towards the worst crisis of its history. Especially because now the health crisis that affects the world by the pandemic coronavirus, combined with the measures being implemented by the local government. He believes that the country will fall in the GDP, the wages and increase unemployment, and all this will be combined with default and hyperinflation.
Now, hopefully all of this will serve to help people understand that the State is not the solution, but that is the most important part of the problems that are generated. That is to say, the State is the problem. Try to minimize the drop in production. You can’t enclose to all over the world and believe that that’s going to fix it with monetary emission. Because if we’re all locked up, the production is zero and finance the increased expenditure by printing money. That gives as result that the value of money is zero. You’re brewing the base of a hyperinflation”.Javier Milei, chief economist at argentine.
Also, the 30 of April, Milei caught the attention of the argentine people to publish a video on his account in Instagram, with a sarcastic humor returned to criticize the issuance of currency. The curious audio-visual material compared to the country with the Titanic, the ocean liner british that sank in 1912. In this way, he tried to plot how the issuance of currency, carried forward by the current government, in reality, you will end up producing a catastrophe.
In mid-April, in the framework of a television interview, the panelists asked the economist what he recommended to the argentine before the devastation of the national economy that had just describe, going to make reference to the monetary emission, the serious economic situation of the country, together with the pandemic and quarantine almost total. Milei believes that this combination of elements will result in absolute disaster, and says that the argentines until they lack the means to feed themselves.
Is going up the dollar with the financial system closed. The money demand is collapsing, that is the prelude to hyperinflation. If I had to recommend something to the people, I would suggest that, emphatically, hoarding food. The coronavirus has deepened this situation and, from my point of view, the economists who surround the president, far from providing solutions, are piromaníacos with flamethrower.Javier Milei, chief economist at argentine.
In favor of bitcoin
While on the one hand Milei alert on how the issuance of currency will affect Argentina, on the other makes reference to bitcoin. On his Twitter account, Javier Milei published on April 30, an extract of a conference, Andreas Antonopoulos, in which the evangelist of bitcoin exposes how they are responding to the populations of the countries attacked by high rate of inflation, such as Argentina, Venezuela or Zimbabwe.In this regard, Antonopoulos explains: “if you’re in Argentina, any percentage of wealth that you put in bitcoin was better than the money argentina, every year in the last seven years. This even in the worst years of bitcoin. Somehow the argentine economy fared the worst. If your country has 45% of inflation, then the volatility of bitcoin you will look like a solid investment”.
Remember that the peso is the currency issued by the argentine political… pic.twitter.com/V5wPX495dc— Javier Milei (@JMilei) April 30, 2020
Milei, to share the video with the explanation of Antonopoulos, commented the following: “remember that the peso is the currency issued by the argentine political”, in a clear reference to how in Argentina, with bitcoin, you can cope with the hyperinflation that will result in the issuance of currency.However, it is not the first time that the economist has published a commentary on bitcoin on their social networks. Previously he worked in 2017, also sharing a phrase Antonopoulos, which states that “bitcoin is an experiment of separation between the currency and the State. You’ll be amazed to see how many people are going to support this.”In addition, last year he shared a story that made reference to how the venezuelans are fighting hyperinflation using cryptocurrencies, while in 2018 published a message which stated that “to get to the cryptocurrencies, there are several historical stages that describe. Recently we took the first step. The next will be on the evolution of the money trust”. This last, though not explained, can be understood as part of his thoughts related to eliminate the central banks.Before I talk about cryptocurrencies, Javier Milei clarifies that there is no specialist in the matter because he has never worked with them. However, it considers that the cryptocurrencies as bitcoin emerged as a part of the evolution of money, well, first, humans used barter to exchange value, then the coins, such as gold and silver, and then came something he called the grim, which are the central banks.
The problem is that you have to accept the cryptocurrencies put us to compete with the politicians. What do you think are going to want to a politician? Imagine a politician competing with the private sector, if they are a piece of excrement who can’t get a job if they leave the public service. Do you think that politicians are going to be willing that their currency to compete against a currency, itself issued by the private sector? Forget it, not going to have a chance. I love the idea of the cryptocurrencies, but I do not see chance among the rubbish of the political and the competition that they can accept.Javier Milei, chief economist at argentine.
It is clear that Milei considers bitcoin as a positive system that can help argentines cope with the hard times. On one occasion, a journalist asked him that if I had to compare the well-known vedette and television presenter argentina Moria Casán, with any type of investment what would it be? what the economist was satisfied: “Moria is perfect, is smart, is a bitcoin that never price drop, only go up”.A little while ago that the residents of Argentina come to face the consequences of the monetary emission, as it has warned Milei, in a scenario in which the dollar bitcoin resonates with greater force, as it is also fighting a battle against the instability of the economy and the stocks exchange rate that directly affects the purchase of u.s. dollars.However, the issuance of currency is not something that only worries in Argentina, the crisis of health for the coronavirus has made the economy fall into a tailspin around the world. This has generated a reaction of panic in the governments and central banks. In that scenario, only bitcoin and the cryptocurrencies have reacted differently.