Brazil and Argentina to begin preparations for common currency
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In the 90s, Lula and his party founded the São Paulo Forum, a conference for latin american left wing political parties. Basically a socialist gathering where they scheme on how to turn latin america into the 21st century soviet union. I'm not exaggerating, I have videos from those days of Lula, our current president, openly saying his plan was to install socialism in Brazil, and to do it slowly so that nobody would even notice it was happening.
All of the socialist leaders of these countries are his literal buddies. They fuck up the economy of their own countries with their socialist idiocy and then come to us for money. And what does Lula do? He gives it to them. Just like that. Well, he lends the money to them, but they don't really pay it back so yeah. A few days ago I saw a video of him discoursing about the Venezuela guy whose name I don't even care to remember, how he'd come see him and wouldn't leave until he got the "plata". Then he'd say that since we're such a "strong country" we had to help him. With taxpayer money.
I wish I was joking.
This declaration came after Argentinian ambassor said, in a visit to Brazil, that there were plans to create it.
It seems to me that this is something that Argentina wants, while Brazil has no practical interest in it.
Worth mentioning that Argentina is a country that is dealing with deep financial crisis and heavy inflation and a common currency could help to reduce inflation. Brazil had similar problems through the 80's and 90's.
[0] - portuguese: https://www.cnnbrasil.com.br/business/nao-existe-proposta-de...
Yeah sure. He just backpedaled after all the negative public reaction. Don't doubt it for a minute.
> It seems to me that this is something that Argentina wants, while Brazil has no practical interest in it.
Obviously.
> Worth mentioning that Argentina is a country that is dealing with deep financial crisis and heavy inflation and a common currency could help to reduce inflation. Brazil had similar problems through the 80's and 90's.
Of course it would help them. At our expense.
That last part is pretty important. Both countries have a history of severe inflation. Circulating a new currency alongside the old seems like a pretty baldfaced attempt at inflation without having to admit it. It beggars belief that either country would retire its national currency given the deflationary shock that would create.
I’m generally in favor of the European project, and think the last 75+ years of peace (ex Ukraine) speak for itself. And I understand the intellectual underpinning of why the Euro is a vital component of that. But I also can’t shake the feeling that it’s a bad idea for the vast majority of countries to forfeit their financial sovereignty.
And in this case, this looks a lot to me like tying two rocks together and hoping that they float.
Believe it. Brazil has had more national currencies than I care to remember. If you search "Brazil" on HN, you'll find the top post is about the creation of the real and how the government had to essentially trick the population into believing that this time it wasn't going to turn into worthless paper.
There are other latin american countries that are even worse.
Confused about this one. If the central bank continues to print so much money to fund spending, isn't it obviously attractive for them to keep doing it? Unless their central bank has gone crazy and can't be stopped by any other means.
On a lighter note even if there is agreement the first problem will arise when deciding who gets on the bill, Pele or Maradona /s
Currencies are inherently a thing of countries , not sovra-national entities. The Euro has been a failure for everybody except Germany
They couldn't care less about such things. In 2005, a gun control referendum took place and 63% voted against disarmament. It didn't matter, they still pushed disarmament into law.
https://en.wikipedia.org/wiki/2005_Brazilian_firearms_and_am...
> The Euro has been a failure for everybody except Germany
That's the design. The whole point of such a "currency" is to transfer whatever economic strength Brazil has to the other failed economies of south america. Socialize the losses of Argentina and Venezuela among the brazilian population.
Wasn't this supposed to include one of the "guay" countries as well?
https://web.archive.org/web/20221221191002/https://www.thelo...