Brazil and Argentina – A Common Currency?

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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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  1. 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.

  2. 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.

  3. 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.

  4. 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.

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