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After the Minister of Economy, Louis Caputowill explain how Government intervention in cash dollar markets through clearingformer president Cristina Kirchner He insisted that this was market intervention through central bank reserves and was questioned Javier Miley The gap between the official dollar and the parallel dollar. Ironically, the May Pact was signed in Tucumán in the early hours of July 9 and called for the convening of “different political forces and social sectors”.
this Friday, Blue dollar hits new record and hits $1500 The week saw a row between four banks and the national government, with President Javier Milley directly accusing him of a planned run on the currency.
Caputo, a liberal in the United States, announced this Saturday that “the last tap of money issuance has been turned off” and from now on “The amount remains the same or decreases (If the central bank sells dollars in Mulc)”, that is, the single free market. He added: “That is, if the Bcra buys dollars in Mulc, the equivalent amount of pesos issued will be settled by selling the equivalent amount of dollars in the spot market”.
Dictators don’t like this.
Professional and critical journalism practice is a fundamental pillar of democracy. That is why it troubles those who think they are in possession of the truth.
CFK responded to Caputo’s tweet, but pointed out that Milley had previously made the same statement: “President, do you remember that on December 10th at the inauguration I told you that you had too many prejudices, and when you sat down, I told you that you had too many prejudices,” President Rivadavia was going to leave one by one? Well … Welcome to Argentina, “the former vice president began.
He added tartly: “Stop driving your liberal followers crazy who are engaging in esoteric interpretive analysis and tell them the truth about Milan: you will use the BCRA reserves to intervene in the financial dollar market, because the gap with the official dollars will flow to… you know, this will eventually affect prices.
He then complained that “no matter how much fiscal surplus it runs,” “even if it’s truant and unsustainable,” the country’s problem is “its dual-currency economy, excessive hard-currency debt, and a shortage of dollars.”
He even recalled the events of the night of July 8-9, on the occasion of Independence Day, when 17 governors and heads of the Buenos Aires government signed the May Pact, which had been postponed due to the handling of the Base Law.
“Stop wasting your time organizing Billiken’s squaring the circle campaign. Think about it. You’ve been elected for four years. An opportunity to bring together different political forces and all sectors of society to seriously discuss the fate of our countryEven if they don’t give you Nobel Prizeit is worth trying… history will surely recognize that,” he concluded.
According to Milley, an attempted financial coup took place that day
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“Zero panic.” After saying this, Mire relativized the dollar’s surge to $1,500 and announced monetary policy measures to stop the dollar’s rise, “First of all, no panic, zero panic,” although he admitted that it was an anomaly because the dollar was rising and we were buying the dollar.
In this sense, he explained that “in general, the opposite is true”, which is why he announced that they will carry out a “new escalation of monetary policy”. In this regard, he recalled that the first phase of the economic plan was a zero deficit: “At the end of June, we had a fiscal surplus. In fact, we were accumulating so much cash that we had 17 trillion pesos in the current account of the Central Bank. ” “
“We have guaranteed the July interest payment and are in a very strong financial position. The next phase is zero emissions.”, he predicted, accompanied by US Economy Secretary Louis Caputo.
Detailing the economic plan for the coming months, the president stressed that “from now on, Argentina’s monetary base is no longer growing, which is very strong news.”
Milley promises no inflation in Argentina: but when?
“We closed the channel for buying dollars. We have to buy because of the rules of the MULC (Single Free Trade Market) trading market, we buy dollars, we inject pesos, what we do is hedge the reduction of these pesos by putting dollars on the market, thus ensuring that the quantity of money remains the same,” he explained, announcing that the measure will take effect on Monday. “All the pesos we issue are used to buy dollars in the MULC, and part of them, we will use to withdraw the pesos issued, which will accelerate the deflationary process. The decline in interest rates will lead to more brutal inflation. “This makes the exit from stocks even closer,” he stressed.
Gastrointestinal
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