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Far-right populist Javier Milei fails to win first round of Argentina’s presidential election
(www.theguardian.com)
this post was submitted on 23 Oct 2023
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Comparing Milei to Trump or Bolsonaro is very, very misleading.
Milei is has radical capitalist / free market ideology, but is far removed from social conservatism.
Just to give you an idea, he wants to close the argentinian central bank and kill the national currency or let it kill itself with a free floating exchange rate.
Such a move is the opposite of what alt-right / fascism would do which seeks governmental control of media, industrial and financial institutions.
If anything, the current ruling party "Union for the motherland" (Union por la patria) openly advocates and defends Peronism which is a sort of decaf fascist ideology heavy in nationalism and populism thinly clothed in laborist rethoric to make it seem left wing. Current ruling party which btw has lead the country to over 300% inflation (if you take the free exchange rate as a reference since the official exchange rate is manipulated and it is illegal for argentines to freely buy foreign currency except for a small token amount).
Just to make it easier to understand. If you're familiar with the political compass:
These are three very very different quadrants.
I know nothing about economy, but isn't a bad idea to put all your chips into a currency that you do not hold any control over?
Ecuador and Puerto Rico already did it. Panamá did something similar.
I totally understand the initiative. Corruption can be so damn high, that you trust gringo central bank more than any institution of your own country.
edit: typos
El Salvador was the other one aside from Ecuador and Panamá.
Puerto Rico is a us Territory and uses USD. Costa Rica has their own currency with cute sloths and monkeys on their notes.