There was what the government said their money was worth, their official rates and what you allowed to trade, and the actual exchange rates on the market, what people actually traded.
He immediately moved to 'devalue' by 56%. As in recognise reality and what the money is actually worth, 800-1000 or so to the dollar, rather than the previous admin's bullshit of 400 or so. Now you don't have to go through the black market or various intermediaries or do loads of bullshit to trade your money and do other trades.
What had happened is the lefties had inflated the fuck out of it, but their official rates looked 'good' cause they set a bullshit official exchange rate, so the peso looked stronger than it actually was. This is just recognising reality and allowing fair trade.
Now as I understand there is also a plan to keep going though, devaluing at like 2% per month. Which is still quite high. Pursuing a kind of chinese style export focused model where your cheap currency helps your exports look attractive, and some other effects.
I don't necessarily agree with that part, but the initial recognition of reality is definitely needed.
There was what the government said their money was worth, their official rates and what you allowed to trade, and the actual exchange rates on the market, what people actually traded.
He immediately moved to 'devalue' by 56%. As in recognise reality and what the money is actually worth, 800-1000 or so to the dollar, rather than the previous admin's bullshit of 400 or so. Now you don't have to go through the black market or various intermediaries or do loads of bullshit to trade your money and do other trades.
What had happened is the lefties had inflated the fuck out of it, but their official rates looked 'good' cause they set a bullshit official exchange rate, so the peso looked stronger than it actually was. This is just recognising reality and allowing fair trade.
Now as I understand there is also a plan to keep doing this though, devaluing at like 2% per month. Which is still quite high. Pursuing a kind of chinese style export focused model where your cheap currency helps your exports look attractive, and some other effects.
I don't necessarily agree with that part, but the initial recognition of reality is definitely needed.
There was what the government said their money was worth, their official rates and what you allowed to trade, and the actual exchange rates on the market, what people actually traded.
He immediately moved to 'devalue' by 56%. As in recognise reality and what the money is actually worth, 800-1000 or so to the dollar, rather than the previous admin's bullshit of 400 or so. Now you don't have to go through the black market or various intermediaries or do loads of bullshit to trade your money and do other trades.
What had happened is the lefties had inflated the fuck out of it, but their official rates looked 'good' cause they set a bullshit official exchange rate, so the peso looked stronger than it actually was. This is just recognising reality and allowing fair trade.
Now as I understand there is also a plan to keep doing this though, devaluing at like 2% per month. Which is still quite high (just not the 180% official inflation rates from yesteryear). Pursuing a kind of chinese export focused model where your cheap currency helps your exports look attractive, and some other effects.
I don't necessarily agree with that part, but the initial recognition of reality is definitely needed.
There was what the government said their money was worth, their official rates and what you allowed to trade, and the actual exchange rates on the market, what people actually traded.
He immediately moved to 'devalue' by 56%. As in recognise reality and what the money is actually worth, 800-1000 or so to the dollar, rather than the previous admin's bullshit of 400 or so. Now you don't have to go through the black market or various intermediaries or do loads of bullshit to trade your money and do other trades.
What had happened is the lefties had inflated the fuck out of it, but their official rates looked good cause they set a bullshit official exchange rate, so the peso looked stronger than it actually was. This is just recognising reality and allowing fair trade.
Now as I understand there is also a plan to keep doing this though, devaluing at like 2% per month. Which is still quite high (just not the 180% official inflation rates from yesteryear). Pursuing a kind of chinese export focused model where your cheap currency helps your exports look attractive, and some other effects.
I don't necessarily agree with that part, but the initial recognition of reality is definitely needed.
There was what the government said their money was worth, their official rates and what you allowed to trade, and the actual exchange rates on the market, what people actually traded.
He immediately moved to 'devalue' by 56%. As in recognise reality and what the money is actually worth, 800-1000 or so to the dollar, rather than the previous admin's bullshit of 400 or so. Now you don't have to go through the black market or various intermediaries or do loads of bullshit to trade your money and do other trades.
What had happened is the lefties had inflated the fuck out of it, but their official rates looked good cause they set a bullshit official exchange rate, so the peso looked stronger than it actually was. This is just recognising reality and allowing fair trade.
There was what the government said their money was worth, their official rates and what you allowed to trade, and the actual exchange rates on the market, what people actually traded.
He immediately moved to 'devalue' by 56%. As in recognise reality and what the money is actually worth, 800 or so to the dollar, rather than the previous admin's bullshit of 350 or so. Now you don't have to go through the black market or various intermediaries or do loads of bullshit to trade your money and do other trades.
What had happened is the lefties had inflated the fuck out of it, but their official rates looked good cause they set a bullshit official exchange rate, so the peso looked stronger than it actually was. This is just recognising reality and allowing fair trade.