travellingwolf , 9 months ago

As Vis mentioned, it is the better option if the government can’t stop itself from printing money and fucks everyone over.

This is the inflation rate of Ecuador before and after they adopted the dollar in 2000.

https://lemmy.world/pictrs/image/477ce03d-2462-4bdf-a781-be5b2372f5af.png

Milei now wants to do the same. At least this way people will be able to save (and spend their savings), and the government will have to be fiscally responsible.

The world has run directly or indirectly on gold (which can’t be printed) until 1973, so it’s definitely possible for an economy to work with a currency you can’t print.