This is the Argentinian Presidential Candidate Who Wants to Replace The Central Bank With Crypto

Javier Milei is an Argentinian presidential candidate who is pro-Bitcoin. Furthermore, he does not like the idea of a Central Bank. So, he wants to abolish the Central Bank when he becomes president. He believes Bitcoin will return power to the private sector. Here are some key things he said about Bitcoin and the central bank. 

Argentinian Presidential Candidate Against Calls Central Bank a Scam 

@JAN3com via X 

• Javier Milei, an Argentinian presidential candidate, is a Bitcoin supporter who always takes the occasion to explain his plans. Apparently, Milei has a strong dislike for a country that operates using the Central Bank. 
• Furthermore, Milei terms the central bank system as a scam used by the corrupt government. Why is this so? Milei, during an interview, explained in great detail what he thinks of the central bank system. Apparently, Milei sees the central bank as a tool the government uses to trap the citizens. With the major economic and monetary decisions coming from the centralized power, politicians use the central bank against the people. They do this by creating inflationary taxes that make the people poorer than before. What are inflationary taxes, by the way? 
• Inflationary taxes is a kind of penalty for the amount of money you possess. In other words, it is like telling you how much you can spend on your money. In most cases, the government claims this helps to reduce inflation. But the reverse is the case for Argentina. Argentina’s inflation rate is currently at more than 110%, which means these policies by the government aren’t solving the problems. So what is Javier Milei’s solution to this issue? Well, he thinks Bitcoin might be a good addition. 

Bitcoin Better Than Central Banks — Javier Milei 

@JAN3com via X 

• According to the Argentinian presidential candidate, he thinks Bitcoin is an excellent solution to the issue of Central Banks. He sees Bitcoin as a currency that regards human rights. He also believes it is a hedge against inflation instead of Central Banks. 
• Apparently, Milei says Bitcoin represents the private sector. As such, it gives power to individuals to do whatever they want to do with their money. Furthermore, this is an excellent attribute that attracts the Argentinian presidential candidate. But he also mentioned that the only advantage Fiat has is portability. 

Argentinian Presidential Candidate Against Tax Payments 

• The Argentinian presidential candidate made a very controversial opinion regarding the payment of taxes. Apparently, this is another angle on which he disagrees with the government. Javier Milei says he is coming to free the Argentinian people from taxes. 
• He pointed out that he would remove inflationary taxes as president. Furthermore, he said taxes are used by the government to “bully” the citizens. Instead, he will give the citizens the option of choosing to pay taxes. 
• In addition to his strategies, Milei also plans on employing dollarization as a strategy. 

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Milei, a libertarian Argentine economist was elected to the Chamber of Deputies in 2021, after building a reputation for his criticism against local politicians since 2012.

Often a coveted TV guest, many of his rants throughout the years have gone viral. This is Milei on taxes. pic.twitter.com/lDfeukrden

— JAN3 (@JAN3com) August 16, 2023

Conclusion 

Wrapping up, the point Javier Milei is making is that he wants to return the power to the private sector again. He wants to do this by abolishing long-standing institutions like the central bank. Furthermore, Bitcoin will also play a significant role in bringing financial power back to the people.