Brazil and Argentina don’t need a common currency, they need bitcoin
Brazil and Argentina are considering a common trading currency, but that would increase the economic problems Bitcoin could solve, only perpetuate.
This is an opinion editorial by Jack Williams, an undergraduate business administration student and Bitcoin HODLer.
Brazil and Argentina have faced off on numerous fronts, most notably in World Cup qualifiers and Copa América epics. As an avid soccer (‘Murica) fan, I initially found this Mises.org article by Marcos Falcone a bit odd for suggesting that these two rivals might come together to establish a common currency. But given the two nations’ position in the global economy, the idea makes sense.
Argentina has gradually slipped into more economic uncertainty as its currency inflates year after year, and often month after month. Brazil faces political and economic uncertainty following recent worrying events surrounding the re-election of President Lula da Silva, who faced corruption allegations ahead of his 2022 election campaign. According to Falcone, President Lula and Argentina’s Economy Minister Sergio Massa have been discussing a possible trade currency between the two nations.
If Brazil and Argentina ever come to such an agreement, the eventual currency will no doubt draw more wealth from the hands of the Argentine and Brazilian people. Regardless of any sweet nothings Lula da Silva and Argentine President Alberto Fernández would whisper in the ears of their respective populace, the only victory would likely come on the front lines of their cronies. Falcone also shares this concern in his article, providing an excellent account of the economic history of Argentina and Brazil along with a strong argument as to why their speculated fiat solution is anything but legitimate reform.
Argentina and Brazil should not miss this opportunity for Bitcoin
But Brazil and Argentina have an extremely rare opportunity to change the dynamics of international economic cooperation and diplomacy for the better by adopting Bitcoin. As respected anarchist author and podcaster Michael Malice said, “Every country is in a state of anarchy with every other country.” To extrapolate, Brazil and Argentina have the best opportunity to stabilize their trade and boost their economies through Bitcoin .
The trade stabilization effects resulting from a shared, objective, cardinal assessment of goods shipped between the two countries, tied to a digital currency controlled neither by Brazil nor Argentina’s governments, should not be underestimated. Officials on both sides could rest easy knowing their own countries are not being screwed by their neighbors and their citizens are benefiting economically And simultaneously with those of their rival nation. Know what politicians Strictly speaking get wet dreams, I understand that this solution is unlikely. Ultimately, we don’t need these politicians to implement this international trade tool. We can run nodes without the permission of Lula da Silva, Fernández, or any other parasitic politician.
But the formal adoption of Bitcoin is not impossible. Just look at El Salvador. All the work that needs to be done on the political front is getting formal permission to use bitcoin and possibly some encouragement through light propaganda. The rest of the work is done by the miners, node runners and bitcoin enthusiasts in the two countries and around the world.
People are ready for bitcoin
And the political preparatory work may already have begun in both countries.
Conflicting reports from Brazil, including a statement from a federal lawmaker, suggest Bitcoin has the potential to become legal tender. From Argentina’s perspective, one of the upcoming presidential contenders is the passionate, impetuous, Austrian-disciplined economist Javier Milei, the current federal deputy from Buenos Aires. He is credited with believing that Bitcoin is a “natural response” to “central bank fraud.” The more I listen to him, the more hopeful I get. Bitcoin has the potential to become a massive economic and political victory for the struggling South American nations and their people.
What has to be said is that the people of Brazil and Argentina are looking for a better option than what is being presented and advertised to them. The people are either striving for better economic opportunities or they are striving for government handouts, as is the case with many other nations. As relevant bitcoin miners, node runners and scholars, we need to stand up and see the positive impact of the best cryptocurrency on the planet represent the people desperately trying to understand a message of hope.
It is the individuals who determine what is valuable in society and communicating knowledge and ideas across borders has never been easier. Make no mistake, the idea we possess and the belief we carry is bulletproof to any regime that threatens to invade our physical planes. One has to understand that regimes cannot rule our minds unless we let them in. As Victor Hugo wrote, “No army can stop an idea whose time has come.”
This is a guest post by Jack Williams. The opinions expressed are solely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
Source: Crypto News Deutsch