US buys Argentine pesos, finalizes $20 billion currency swap

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10. Hear, hear

The move is designed as a confidence trick meant to bolster Milei's approval - because U.S. dollars are worshipped in Argentina.

Businesses set their prices by how many they can get on the black market with their (projected) earnings. It's that bad.

In any case, as I was telling the others, this won't do them (or Milei's electoral chances) any good because Milei (like all RW presidents down there), decreed currency deregulation - thus ensuring that any spare dollars will be offshored like there's no tomorrow (as has been the case since June - which is why they're in this crisis to begin with).

Cry for Argentina - and for Mr. and Mrs. U.S. Taxpayer (which will now be the proud owner of $20 billion in Monopoly money).