Argentina's Leading Presidential Candidate Javier Milei: Vows to "Shut Down Thieving Central Bank and Won't Give Shit Leftards an Inch"

Editor's note: Argentina's Javier Milei calls it like it is. This is hilarious. Come to America, we'll vote for you. Capitalism is a lie. There is no such thing as capitalism. Another ism concept to buy into. It is a system of predatory cannibalism. Look at what is happening in Hawaii on Maui. Unfettered greed and raw power is going to tear people to shreds to access some of the most expensive prime real estate on Earth. That's capitalism? There is no such thing as "capitalism." It's ecumenical warfare. An ecumenical economy. 

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Source: Zero Hedge

Argentina's Leading Presidential Candidate Vows To Shut Down "Thieving" Central Bank

BY TYLER DURDEN | THURSDAY, AUG 17, 2023

After sending local capital markets into a tailspin and triggering a currency devaluation with his shock win in Sunday's country's presidential primary, Argentina's leading presidential candidate Javier Milei - a self-described anarcho-capitalist - added to the shock factor on Wednesday when he pledged to close the nation's central bank while saying he would make every effort to avoid a default on the country’s sovereign debt if he wins the October vote.

Milei, a radical libertarian, told Bloomberg News his bold fiscal adjustment would boost Argentina's reputation and credit profile, making a default unnecessary.

His plan includes slashing spending by at least 13% of GDP before mid-2025 by dramatically downsizing public works, reducing the number of ministries, removing subsidies and capital restrictions that would allow businesses to transact in US dollars. More drastically, he also plans to shutter the central bank which he said has "no reason to exist", and dollarize the $640 billion economy.

"I will make every effort to avoid a default, obviously," Milei said in a two-hour-long interview in Buenos Aires Wednesday. "If you do the fiscal adjustment that’s needed, the financing will be there."

Milei triggered a market shock when the presidential candidate - largely viewed as an outsider without serious chances for the position until now - came out ahead in the primary, seen as a barometer for presidential elections in a country where polls are notoriously unreliable. The slump forced the government to devalue its tightly controlled official exchange rate by 18% when markets opened Monday.

In the first interview to foreign media after his unexpected win, Milei spoke to Bloomberg and detailed his plan to scrap the Argentine peso for the US dollar as a way to bring down inflation that's running at 113%, and upped his criticism of the central bank, which he called "the worst garbage that exists on this Earth."

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