Patrick Boyle
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Brazil and Argentina announced last week that they are starting preparatory work on a common currency, in a move which could eventually create the world’s second-largest currency bloc. Does this move make any sense?
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Agree, the future
But will the cartels/ crime boss's allow it?. 😎
Nos daria un Poder Global ,Incluso podria Desplazar al Dolar siendo mas confiable para los Chinos Rusos Japoneses y Europeos
Hay que Arriesgar para Ganar.
"El Sudamericano"
Sounds like Brazil and Argentina needs some freedom and democracy.
Danger for AMERICA, must stop this action. They are too close to CHINA. punish them. 💪💪💪
Argentinian pesos😂😂😂 y’all should drop that😂😂😂 the Mexican pesos is a wayyyy more stable, and not going through inflation like the Argentinian peso🇲🇽 Mexico is the real power house of Latin America period🤌🏼💪🏼
Arab Council Countries should create a common currency, that would unite them all.
As a Brazilian, i dont want that. Why should Brazil join Argentina in currency, a country that have been for decades in financial shit?
So essentially Brazil is co-signing on Argentina’s debt. Anyone loaning money to Argentina is asking to be defaulted on.
We (Argentina) already had our currency pegged to the USD, which was supposed to stop inflation by depriving the government of the possibility of printing money to pay for excess spending. What happened is that they issued debt instead. And when that couldn't be done anymore, they issued "quasi-currencies", which were essentially more debt. Everything collapsed in 2001. Something similar would happen with a common currency. The problem is cultural, not monetary. People want everything provided by the government for free, everyone steals, etc.
Brasil here, thanks for the info
Educational as always, thanks.
10:36 almost the only thing exported from Argentina is food and soccer players !!
Long live the Vatican then, huh? This is their new EU, the original Catholic Union?
More like the end of Brazil
Can't wait for America to declare Brazil and Argentina as communists… Oh wait is that not the playbook they use these days? Russian supporters, yes that's it.
So we'll get an opposition or military coup, and the new rebel leader calling on america to liberate them, country descends into civil war, looks like Libya all over again.
Bitcoin obsoletes the need for this. I visited Argentina late last year and was surprised by the rate of adoption, it’s not hard to explain the value proposition of a scarce asset outside the control of any government to someone living through hyperinflation and economic collapse I suppose.
I mean Argentina has been kept in a perpetual debt cycle because of the IMF (also bad fiscal spending but it takes two to tango).
Not a horrible thing to trial.
Maybe it's partly because of all the people we killed down there. Just a theory.
👍
A Brazilian/Argentinian currency will suffer the same drawbacks as the Euro without the boon of a Germany or France. There is little stability and Argentina uses inflation as a means of stabilizing it creative economic policy making. Argentina will have to self-destruct to make this work. Brazil can probably handle it.
But people cant trade outside of brazil without being highly taxed… Money can not leave brazil
I can't se how Brazil and Argentina will end the dollar.??
How to trash your economy in three easy stages.
Such high quality writing Patrick. So appreciated. Please don’t ever stop!!
I think this is equivalent to them agreeing to mutually fix their exchange rates. if at any point the common currency is "worth more" in one country than the other (because of differing rates of inflation), the agreement will melt away and we'll effectively have two currencies again.