MercoPress. South Atlantic News Agency

Milei gets 12,000 people to attend class on inflation in Mendoza

Argentina's peso is not even good as fertilizer, Milei explained

Argentine Libertarian Deputy Javier Milei Sunday insisted on dollarizing the country's economy during a rally in Mendoza where he also vowed that such would be his first step if elected President in 2023.

Milei also said the Argentine peso was the “currency of the caste,” because it loses its purchasing power every minute due to inflation, causing additional trouble to the working class.

The economist Milei's views are not matched by those of many of his colleagues who have rejected dollarizing and warned of the negative consequences such a move would have.

“We have to get rid of the peso garbage, which is not even good for fertilizer,” Milei said at Mendoza's O'Higgins Park while giving a masterclass attended by over 12,000 people.

“That bunch of thieves said that the peso is to have sovereignty. You talk about sovereignty when you want the people to be slaves,” Milei warned after reviewing the history of inflation and income redistribution policies.

Milei also explained he would start by “moving from fractional banking to an anti-corruption system with Simons banking” to then develop a dollarization strategy.

“The only ones who will lose with these measures are the corrupt politicians of the caste,” Milei promised.

“We do not need a lender of last resort with Simons banking. Politicians, stop lying to the people, stop putting fear in them”, he said.

Milei also said he believed the country was rich in “lack of opportunities, due to the filthy political caste we have, which expels our children,” which led to increasing migration. To reverse that trend, Milei insisted “the only solution is to go back to the ideas of freedom and get the State out of the way.”

The Libertarian Deputy also referred to his colleagues as “econochantas” (bogus experts) who are functional to “the caste” and “who exist on both sides of the 'crack'.”