This is good for Bitcoin 📈

Bitcoin does present a possible solution to the monetary woes of Argentina but this is a weird way to phrase it.

Mileis election definitely signals a growing awareness that central bankers are just scammers and getting off the gold standard was one of the biggest mistakes humanity ever made.

Ahahah. No. Cryptocurrency is for rubes to get rubed, and tying a State’s sovereign fiat money to a commodity belongs in the dustbin of history.

“…tying a State’s sovereign fiat money to a commodity belongs in the dustbin of history.”

I’ve got to ask, what makes you say this? Especially when scarcity is one of the most critical properties of money, and the governments of the world have shown their willingness to print money infinitely. Which makes modern, unbacked, Fiat currencies virtually worthless in the long run.

The value of a State’s fiat money comes from them requiring that taxes be paid in that same money. Yes they can print as much money as they want, but they don’t, and they can regulate its value by destroying some of it through taxation.
Second Thought: Why The Government Has Infinite Money

I watched the video and it’s information I’m well aware of. This video and the theories it presents ignore critical aspects of our monetary system. Just for starters this analysis completely ignores the cascading effect of interest payments on the accumulated debt. Which are approximately one trillion dollars per year at the time of me posting this.

this analysis completely ignores the cascading effect of interest payments on the accumulated debt If they can print as much money as they like then they obviously they can always make any interest payment, as former Fed. Chair Alan Greenspan himself has plainly stated.

Furthermore, the government doesn’t need to borrow money in the first place, because again, it can print as much as it wants.
So you might ask, why does our government create these treasury securities in the first place? I think the answer is largely twofold. Firstly as another tool for managing inflation. By giving the wealthy a safe place to profitably park their money, that money is temporarily removed from the real economy. Secondly because those same wealthy capitalists are the ones calling the shots in the fist place, and they want a safe place to profitably park their money.

“those same wealthy capitalists are the ones calling the shots in the first place”

That’s a good reason to take money out of the hands of the state.

It’s a good reason to end capitalism. Until we abolish private ownership of the means of production, the capitalist will control the State.