r/Classical_Liberals • u/matchettehdl • Dec 12 '23

Argentina’s Milei Devalues Peso by 54% in First Batch of Shock Measures News Article

https://www.bloomberg.com/news/articles/2023-12-12/argentina-s-milei-devalues-peso-by-54-in-first-batch-of-shock-measures
9 Upvotes

91% Upvoted

-15

u/CaptainGuyliner2 Dec 13 '23

That's funny. I thought libertarians were against inflation.

17

u/mcnello Dec 13 '23

He just removed an arbitrary government exchange rate which nobody followed anyways. Nobody used the government exchange rate. All the artificial rate did was force poor/middle class individuals suffering from high inflation to go to become criminals and utilize black market exchanges.

Forcing citizens to become criminals just so they can retain the value of their own wages is asinine.

8

u/rpfeynman18 Dec 13 '23

He didn't inflate the currency, he merely acknowledged it.