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“The peso scam is around a thousand times larger than the Libra scam, and its victims are the poorest, about 95% of Argentines.“
~ Saifedean Ammous
Javier Milei swore he’d burn down Argentina’s central bank and dollarize the economy. Two and a half years later, the money supply has quadrupled, the debt has ballooned, and a quarter-trillion-dollar carry trade is hollowing out the nation. Is the self-proclaimed Rothbardian actually running one of the most inflationary presidencies in Argentine history? And what does it mean for Austrian economics when its loudest political champion looks more like just another Latin American demagogue?
Check out the original article: Milei’s Austrian Scam by the Numbers by Saifedean Ammous (Link: https://x.com/saifedean/status/2056436088944631996)
References from the episode
- Safedean’s previous piece on the Argentine carry trade (Link: https://saifedean.substack.com/p/anatomy-of-the-milei-ponzi)
- Hans-Hermann Hoppe’s work, since the Mises Institute apparently parted ways with him (Link: https://hanshoppe.com/)
- Anything by Murray N. Rothbard if you want the real Austrian foundation (Link: https://mises.org/profile/murray-n-rothbard)
- The story of Cincinnatus if you’ve never read it, it’s worth your time
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“Frodo: I wish the Ring had never come to me. I wish none of this had happened.
Gandalf: So do all who live to see such times, but that is not for them to decide. All we have to decide is what to do with the time that is given to us.”
~ J.R.R. Tolkien, The Lord of the Rings
