ARG digital currency that would copy the “successful” Nordic model

[gracielle]

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4 October 2023 Opinion by Ricardo Mihura, President of the NGO Bitcoin Argentina

Sergio Massa y la moneda digital argentina que copiaría el “exitoso” modelo nórdico

Una ong del sector revela que el tema anunciado por el candidato en el primer debate presidencial no fue tratado previamente. Se ignora si reemplazará al efectivo, si será accesible para las ciudadanos o exclusiva para bancos y si preservará el derecho al libre comercio.

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Sergio Massa and the ARG digital currency that would copy the “successful” Nordic model. An NGO in the sector reveals that
the topic announced by the candidate in the first presidential debate had not been previously discussed. It is unknown whether it will
replace cash, whether it will be accessible to citizens or exclusive to banks, and whether it will preserve the right to free trade....

 

[sts7049]

the K's would love nothing more than to make it easy for themselves to control currency flows

 

[gringoexpress]

A currency that 1. Tracks and reports all transactions to AFIP to ensure that everything gets taxed, 2. Does not allow exchange into other currencies like the USD without going through government approved channels, and 3. that the government can create more of to inflate without having to go through the trouble or the expense of printing more physical bills paid for with hard currency. My goodness, I can't imagine a single Argentinian that wouldn't just love the idea!

 

[antipodean]

Why are they always looking for a headline or comparison with Nordic countries like Argentina is on its way to being Norway?
These have tiny populations, highly skilled and educated populations, Lutheran values, low income disparity, free market capitalism with strong global and regional trade integration, some of the strongest private property rights on earth, and above all a tax systems that ensures absolutely everyone right down to the lowest paid workers, pay for what they get out of the state as various social welfare services through very high taxation with relatively little relief. Argentina has nothing in common with them and never will.

An Argentine digital currency has more likelihood of looking like Venezuela’s tried and failed attempts to deal with inflation and control capital.

 

[Quilombo]

The appeal of this to the Ks is simple: to combat money laundering (by people not named Insaurralde), prevent people from accessing dollars, and to give AFIP access everything easily, and it's not even something new, when asked about why there isn't a note in circulation worth more than $2 USD the BCRA has literally said to encourage digital payments (besides Cristina's reasons that it demonstrates inflation is a problem).

The thing the Ks are leaving out is that the largest note in circulation in Norway is worth $91.83, Sweden $91.39, Denmark $142.08, Iceland $73.00, and Finland $529.62, so it's people choosing to use digital payments, not because they have to because they're left with literal kilos of worthless paper.

 

[gracielle]

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8 Oct 2023 by Tristán Rodríguez Loredo, Economy Editor

Utopías digitales

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Digital utopias....Perhaps the idea germinated in fertile soil: in a week in which the "dolar hornero" seemed closer and closer, the flight from the "analogical" peso was patented in the daily pulse of the quotation of the US currency.

The ARG impulse for the dollar is not new and many place the turning point in another crisis, this time the one that led to the Rodrigazo of 1975, a real perfect storm that left no aspect to be included. However, the root of such a telluric movement was not the discretionary decision to devalue and update utility rates, but the voluntary attempt to freeze prices, rates, exchange rates and even salaries in the so-called "zero inflation" Gelbard plan of 1973. Contrary to what might be assumed today, the plan that ended in a resounding failure enjoyed a broad consensus and was implemented by a government that had taken office with a landslide victory (62% of the Perón-Perón formula). Notes for a near future Argentina....
After all, economics is the science of scarcity, an intrinsic constraint to human activity unless we try to ignore it in utopias that only postpone the clash with reality.

 

[gracielle]

Posted by MilHojas on another thread....
23 October 2023 by Eduardo Vega

Argentina accelerates legislation to implement digital currency

The Central Bank of Argentina accelerated work to create legislation to implement a central bank digital currency in the country.

contxto.com