today's speech by the new argentine president milei:
"today is a historic day for our country. after decades of failure, impoverishment, decadence and anomie. today we officially begin the journey of reconstruction. since we only took office 8 working days ago, we have focused on containing the enormous crisis we have inherited. for this reason, we have designed a shock stabilization plan, which includes a budget adjustment program. an exchange rate policy that remains faithful to the exchange rate and the value market and a monetary policy that includes healing the central bank. we are doing our utmost to reduce the tragic impact of perhaps the worst crisis to mitigate our history, a product of decades of governments that existed with a failed recipe, because, as we've been saying for months, the problem isn't the cook, it's the recipe. the ideas that failed in argentina are the same ideas that failed everywhere else have failed because everywhere they have been tried, have failed economically. they were a social failure, they were a cultural failure. and on top of that, it cost millions of lives this doctrine that some might call left-wing socialism, communism, fascism and what we like to classify as collectivism, is a form of thinking that dilutes the individual in favor of the power of the state and is the basis of the box model. it is a school of thought based on the premise that the state is more important as the individuals who make up the nation. that the individual is only recognized if he submits to the state and that we citizens therefore owe respect to their representatives: the political caste. this means that the individual is nothing more than a means to the state's end. it is a way of looking at the world based on the belief that that a group of men (politicians) are superior to the rest of the individuals and therefore it must be they who determine the destinies of their countrymen. a doctrine that is based on the idea that a group controls the destinies of its compatriots. A doctrine according to which bureaucrats sitting in an office be able to plan the lives of millions of people, of bureaucrats who sit in an office and can plan life, taking into account their wishes, abilities, preferences and circumstances. it is a doctrine that assumes that politicians are therefore omnipresent, omniscient and are omnipotent. this means that it is essentially a doctrine that assumes that politicians are God. We have come to tell you that not only are politicians not god, but they are the cause of our problems because for decades these impoverished ideas, that we've been talking about defended as they got richer and richer. because these ideas became more and more powerful as they were mercilessly implemented. because in the mercilessness for more than 100 years, little by little, step by step led to the economic hell we live in today. the process has been slow, and along the way we have gotten used to and seen as normal government intervention, which is the cause of our problems. the result is the country that received the worst inheritance In history there was a country with a consolidated deficit of 15% of gdp and a country with a deficit of 5% (coming from the ministry of finance) and 10% (coming from the central bank). a country that spends so much that even with the highest tax burden in the world, a country without reserves at the central bank and with credit confidence destroyed cannot pay this deficit. a country that has spent money for 20 points of gdp and that is to finance this public spending has carried out unbridled money issuance and is now facing the worst inflation crisis has been standing for 40 years. a country that was on the verge of plunging into 15,000% annual inflation, and that requires an urgent change of course to avoid catastrophe. this change begins today. a central aspect of the failure of the last 100 years is state interference in the lives of citizens arises from the conviction that politicians are superior beings, that must regulate the fate of each of us, an institutional framework that ensures that that no one can work, trade, move or receive training without their permission. while in a free society everything is permitted except what is forbidden, In a collectivist society like argentina everything is forbidden, except what is allowed by politicians; in clear contradiction to the spirit of our liberal constitution, which aimed to suppress the arbitrary power of the state to protect the life, liberty and property of the individual restrict. for the last 100 years, politicians have been busy increasing the power of the state to the detriment of the to expand the good argentinian. this expansion of the state was accompanied by the greatest destruction of a country's wealth, that ever existed. our country, which was the first world power at the beginning of the 20th century, has been in an endless cycle of crises for the last 100 years. they all have the same cause: the budget deficit."
sounds positive from an economic point of view. in other speeches/interviews he has also mentioned reducing bureaucracy in mining. perhaps this will make it easier for us to obtain an export permit.
GLN Price at posting:
52.5¢ Sentiment: Buy Disclosure: Held
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