Argentina?s new president makes drastic plans to save the economy by abandoning the Peso and dismantling the country?s central bank.
The post Is Javier Milei Argentina?s Last Chance" appeared first on LUXUO.

Argentina?s new president Javier Milei (credit to AP Images)

Several countries have decided to stop using their own currency and instead adopt the US dollar as the standard for exchanges. For some poorly managed economies plagued by corruption, abandoning the national currency is often a last resort before total collapse. Westerners often fail to realise the endless complications and hardships caused by a currency caught in an unending spiral of depreciation. We, in the West, do not appreciate the luxury provided by a stable currency that allows for a long-term pricing stability of goods and services.
Thousands take to the streets of Buenos Aires to protest against poverty and austerity policies

Just take a walk today in Buenos Aires through supermarkets or electronic stores, and you?ll notice that no prices are displayed because they can change several times a day. The suffering inflicted on populations in terms of macroeconomic uncertainties and the unbearable waste of time counting bundles of banknotes for minutes to pay for purchases strongly argue for the adoption of the US dollar (or perhaps the Euro) by certain nations, putting a definitive end to the widespread and irreversible infection.

This is precisely what was undertaken around th...