The Case For President Sergio Massa

[ArgentinaVet]

I'm amazed at the weight some of the forum members are giving to the prospect of an Argentine digital currency taking shape and coming into use so widespread it would snuff out tax evasion etc. Do you folks not realize that more than half of the entire economy and more than half the labor takes places in black and outside the banking system? Also keep in mind that there are almost no personal savings whatsoever denominated in the national currency ( the vast majority of plaza fijos in the banking system are the working capital of businesses) and that almost all personal savings are in USD cash or in hard assets like real estate.

 

[gringoexpress]

I'm amazed at the weight some of the forum members are giving to the prospect of an Argentine digital currency taking shape and coming into use so widespread it would snuff out tax evasion etc. Do you folks not realize that more than half of the entire economy and more than half the labor takes places in black and outside the banking system? Also keep in mind that there are almost no personal savings whatsoever denominated in the national currency ( the vast majority of plaza fijos in the banking system are the working capital of businesses) and that almost all personal savings are in USD cash or in hard assets like real estate.

A few years ago, did you ever imagine the whole world getting locked up over the flu? Just needs the right crisis.

 

[WoodbridgeNJ]

I'm amazed at the weight some of the forum members are giving to the prospect of an Argentine digital currency taking shape and coming into use so widespread it would snuff out tax evasion etc. Do you folks not realize that more than half of the entire economy and more than half the labor takes places in black and outside the banking system? Also keep in mind that there are almost no personal savings whatsoever denominated in the national currency ( the vast majority of plaza fijos in the banking system are the working capital of businesses) and that almost all personal savings are in USD cash or in hard assets like real estate.

They will find a way sooner or later, can't bank on the government being incompetent forever. Especially as they are best friends forever with the worldwide leaders of financial control China.

When the hammer eventually comes down it will be faster and more effective than you can imagine

 

[WoodbridgeNJ]

Remember Argentina doesn't need the answer. China can figure it out for both. When you say "Argentina will never figure out how to control the money "en negro" etc etc what you are really saying is China will never figure it out which is demonstrably false

 

[antipodean]

You will be forced to use it. They will say: "Starting next month, all salaries will be paid in digital peso. You can access your money using our convenient Central Bank Wallet app, which offers payment capabilities via QR codes, similar to MercadoPago, and instant transfers to other people." And they will gradually take paper pesos out of circulation.

I understand no special wallet required, the pesos in your bank account will be backed by a unique digital token instead of a unique physical banknote/ coin, so this could be rolled out via the banks without account holders knowing any better = less notes in circulation on the street and in bank vaults, the same (who are we kidding, more) pesos sitting in bank accounts = for any serious sized transaction or withdrawals beyond a few Alfajores in a kiosko, the only effective option that doesn’t require a suitcase full of harder to find banknotes would be transfer/ Modo/ Debito/ Crédito/ MP… something that has an origin in a CBU or CVU and ultimately stays within a CBU or CVU.
You spend more than you declare your earn and pay tax on, expect a knock on the door. You piss the wrong person off, expect to see your bank accounts, and thus ability to buy literally anything, closed.

Anyway, Venezuela tried in a slightly different vein to issue its own digital currency when printing Bolivares couldn’t keep up with its inflation… people just turned to using USD notes, and I think that will happen here for all that under-the-table money in circulation out there (rents, savings, wages, real estate purchases, bribes, narco-money etc) … Massa or Milei, all roads in Argentina ultimately lead to the all mighty “dollarization”.

 

[Jim Prideaux]

Massa is a thoroughly corrupt official who will first and foremost promote corruption. Corruption is the undoing of Argentina. It is the enemy of competition, which is why entrepreneurship and innovation do not exist here, nor economic growth. Massa for president? If you support corruption, then, yes. He’s your man.

 

[Temedar]

How would the elites personally benefit from a CBDC? No more bribes, no cuevas, no $10K/day yachts, no drug money..

 

[Bajo_cero2]

Massa is a thoroughly corrupt official who will first and foremost promote corruption. Corruption is the undoing of Argentina. It is the enemy of competition, which is why entrepreneurship and innovation do not exist here, nor economic growth. Massa for president? If you support corruption, then, yes. He’s your man.

What is corruption for you?
Macri forgave debts of his own companies being a President.
Where there was an amnesty for money landry, he modified the law by decree to be able him and his family to get into the amnesty for money laundrey.
He has over 30 off shores companies not declared that are used to create fake debts in order to avoid income tax and do money flight.
He appoint the CEO of Shell at the energy Ministery that cancelled cheap gas contracts with Bolivia to replace them with expensive gas contracts wih Bolivia through Shell.
What are you talking about?
Is it public education, health and subsidies what you call corruption? Is it monetary sovereignty what you call corruption?

 

[Jim Prideaux]

Corruption includes all the bribes and pressure that are paid and exerted to protect businesses and companies from competitors or to win contracts. It inevitably includes narcotrafficking, which is a large and growing source of revenue for politicians. Corruption has also destroyed the judiciary, which is completely broken here. Any reform would require addressing that immediately as the current one enables corruption and rewards corrupt officials with impunity. There’s no place corruption doesn’t reach in Argentina. Corruption is the system of Argentina rather than a deviation from the system.

 

[sts7049]

What is corruption for you?
Macri forgave debts of his own companies being a President.
Where there was an amnesty for money landry, he modified the law by decree to be able him and his family to get into the amnesty for money laundrey.
He has over 30 off shores companies not declared that are used to create fake debts in order to avoid income tax and do money flight.
He appoint the CEO of Shell at the energy Ministery that cancelled cheap gas contracts with Bolivia to replace them with expensive gas contracts wih Bolivia through Shell.
What are you talking about?
Is it public education, health and subsidies what you call corruption? Is it monetary sovereignty what you call corruption?

what does any of this have to do with what is happening now?