Comments by "Cross Link" (@crosslink1493) on "Dollarizing Argentina: Run-Off Elections Between Massa and Milei || Peter Zeihan" video.

@RainedOnParade It must be, because if you've been superficially keeping up with Trump's NY fraud trial he sure doesn't seem to have a grasp of economics.
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That's about how former Argentinian President Menem did it in the mid-1990s. It seemed to stabilize the financials of the country and the everyday persons.
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Its a country with endless possibilities in the world but they keep shooting themselves in the feet (both of them!). They did institute a form of dollarization in the mid-1990s under President Menem. In short, they had an exchange rate between their currency and the USA dollar, and the dollar was made 'legal tender'. Two different currencies so no swap needed, although it was biased to the USD. It seemed to work at that time as the financial system got stabilized, inflation and interest rates dropped. Unfortunately the Kirchners came to power and brought back hard-core Peronism ("free-stuff" and excessive social programs) to win over the Argentinian public.
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