Saifedean Ammous-known as Bitcoin as Bitcoin Standard-attacked the Argentine Milei Stability Program as the “FIAT fraud” that is nourished by bonds, on the pretext that politics mixed official statistics in politics while deepening the country’s dependence on multi-party lenders.
In a long post on August 20, Ammous Fraame was tire last week as a verification of reality: “Argentina Javier Mile system Try to roll over the bonds by offering a crazy interest rate by 69 %, and only succeeded in rolling more than 61 % of them. Even the annual interest rate of 69 % is not enough to lure investors with a risk of a Milli bonze loan. “The thread was numbered in a handwriting that Miley himself used after the Mimikoin disaster:” Do not cry in the casino! “
Bitcoin opposite. Fiat: Miley chooses his side
Ammous Criticism is Bitcoin-Versus-FIAT. He claims that the administration “is retracting it [its] The promise chose the campaign to close the central bank, “expanding the measures of the money supply instead of” stopping[ping] Creating money “, and raising taxes while searching for Save the International Monetary FundHe describes him as “the same old fate banks.” The cash recipe for Bitcoin is unambiguous: “After nearly two years in the office, Milei could have downloaded price inflation to approaching zero with one simple trick … stop creating money.” In Ammous, nothing less than extinguishing the creation of estimated funds to Bitcoiners can be sold as a sound policy.
On debt and multilateral financing, Ammous claims that the latest arrangements reach the standard exposure to official creditors and a set of future financial space. “With this new 20 billion dollars in the International Monetary Fund, Argentina now has the highest distinguished debt to the International Monetary Fund in the history of the International Monetary Fund … borrowing is now 1,352 % of its International Monetary Fund’s shares,” and writes that the World Bank and the Development Bank between Americans “also commit 12 billion dollars and 10 dollars, respectively, respectively.” It describes the support of the support, which is celebrated by local officials, as a Berhai victory for Fiat: “Point 5 is not a victory, it is L.”
Bitcoin-Versus-FIAT framing extends to prices, exchange rates and data quality. Ammous argues that government statistics reduce the erosion of purchasing power, but it says even the cursed official numbers. “After price inflation rates on an annual basis increased to nearly 300 % in the first few months of his presidency, it decreased to a range of 30-40 % in recent months, and the cumulative prices have been inflated since Miley took office 155 %,” he writes. The pressure on the bizo by referring to both black prices and official rates confirms: “The bibzo exchange rate on the black market decreased by 30 % against the dollar in only 21 months … the official rate decreased … by about 70 %, from 400 peso per dollar to 1300 peso for the dollar.
Bitcoin no default – don’t always do it
Ammous, speaking from the perspective of hard money and bitcoin, insists that free markets cannot coexist with the cash estimated authority: “All talk about the free market is an empty speech as long as the government manipulates money.” It connects this to the Bizo Bond complex with the high return-which is described by “Casino Casino”-which is what is proposed that “the central bank imposes a 65 % interest rate, which makes speculation on government bonds the only industry that may be profitable.” In Bitcoin circles, this argument is frequented by long -term criticism: the manufacture of incentives, Fiat, the behavior of chasing the return that collapses when confidence fluctuates, while the bitcoin fixed release schedule avoids this course according to the design.
His position also claims to manage problematic assets and banking risks. “The little Miley has been shipped that remained from the golden reserves with Argentina that was one day to London in search of a quick return,” claiming allegations, before warning that the new regulations can once again turn the family savings to the sovereign risks: Coralon for the year 2001. The broader Bitcoin author is that FIAT systems outside the risk of crises on local depositors and schools, while avoiding The bitcoin connector these channels.
Administration supporters – some of them from Bitcoin – offer again. Fernando Nikolic, the founder of perception, answered separately that “inflation has decreased significantly”, and “GDP growth is expected by 5.5 %”, “The currency controls have been successfully eliminated without a crisis”, and “the budget that has been achieved [a] Historical surplus. “The result was frame as evidence that the markets and institutions are” the most gradual reward of Millie’s approach, “even if it is less than the closure of an immediate central bank preferred by Austrian economists and that many bitcoin defenders are not separated from winning.
Besides the clash of the tone, the objective dispute is philosophical and critical. Ammous Standards are the standard discipline: Bitcoin: Close the central bankCash offering, allowing relative prices to reset, and rebuild on difficult funds – at first, from his point of view, but durable.
The government’s approach is the classic FIAT stability: getting rid of narrow policy, expanding temporary stores for financing with IMF/WB/IDB lines, normalization of FX system, and local market nurse again to the depth-politically alive if growth returns, but depends on confidence, scroll capacity, and the high local work rates that Bitcoiners see in the distinctive.
Currently, both narratives indicate the same variables of hinges: the breadth of the bibzo in the revenue of “crazy”, the speed of inflation, the behavior of parallel exchange rates, and whether multilateral support is still a political and financial sustainable. If these cranes are tightened at one time, Bitcoin’s criticism will look impossible; If designed, the FIAT stabilization issue is stiff. However, Bitcoin is Bitcoin’s words the only solid director: “It could have been completely trivial … stop creating money.”
At the time of the press, Bitcoin was traded at $ 113,612.
Distinctive image created with Dall.e, Chart from TradingView.com
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