Brazil and Argentina are considering a common trading currency, but that would only perpetuate the economic problems that Bitcoin could solve.
This is an opinion editorial by Jack Williams, an undergraduate business administration student and Bitcoin HODLer.
Brazil and Argentina have clashed on numerous fronts, namely The World Cup qualifiers and the Copa América epic. So, as an avid football (‘Murica) fan, I came across this Mises.org article by Marcos Falcone a bit strange at first because it suggested that these two rivals could come together to establish a common currency. But considering the position of the two nations in the global economy, the idea makes sense.
Argentina has gone gradually moved further into economic uncertainty as its currency inflates year after year and often month after month. faces of brazil political and economic uncertainty following the worrying recent events surrounding the re-election of President Lula da Silva, who faced corruption charges ahead of his 2022 campaign. According to Falcone, President Lula and Argentina’s Economy Minister Sergio Massa have discussed a possible trade currency between the two nations.
To be sure, if Brazil and Argentina ever reach such an agreement, the eventual currency will strip more wealth out of the hands of Argentines and Brazilians. Despite the sweet talk that Lula da Silva and Argentina’s president, Alberto Fernández, would whisper into the ears of their respective populations, the only victory achieved would probably be in front of their cronies. Falcone also shares this concern in his article, providing a stellar account of the economic histories of Argentina and Brazil along with a strong case for why their speculated fiat solution is anything but legitimate reform.
Argentina and Brazil should not miss this opportunity for Bitcoin
But Brazil and Argentina have an extremely rare opportunity to change the dynamics of international economic cooperation and diplomacy for the better by embracing Bitcoin. As esteemed anarchist author and broadcaster Michael Malice has said, “Each country is in a state of anarchy towards all other countries.” To extrapolate this, the best chance for Brazil and Argentina to stabilize their trade and boost their economy is through Bitcoin.
The trade stabilization effects come from a shared, objective, cardinal valuation of goods shipped between the two countries that is tied to a digital currency that is not controlled by the Brazilian or Argentine governments and should not be underestimated. Officials on both sides could sleep easy knowing that their own countries are not being screwed over by their neighbor and that their citizens are benefiting economically. and simultaneously with those of its rival nation. Know what politicians in fact having wet dreams, I understand that this solution is unlikely. Ultimately, we don’t need those politicians to implement this means of international trade. We can run nodes without the permission of Lula da Silva, Fernández or any other parasitic politician.
But the formal adoption of Bitcoin is not impossible. Just look at El Salvador. All the work that needs to be done on the political front is to grant some formal permission to use Bitcoin and possibly some encouragement through light propaganda. The rest of the work will be done by miners, node brokers, and Bitcoin enthusiasts in the two countries and around the world.
People are ready for Bitcoin
And the political groundwork may already have begun in both countries.
Contradictory accounts coming out of Brazil, including a statement from a federal deputy, have suggested that bitcoin has the potential to become legal tender. From the Argentine point of view, one of the next candidates for president is the passionate, boisterous and disciplined Austrian economist. javier miley, the current federal deputy of Buenos Aires. He is credited with saying that Bitcoin is a “natural reaction” to “central bank scam”. The more I listen to it, the more hopeful I become. Bitcoin has the potential to become a major economic and political victory for struggling South American nations and their populations.
What must be said is that the peoples of Brazil and Argentina are looking for a better option than the one that is being presented and propagated. People are fighting for a better means of economic opportunity or they are fighting for a handout from the government, as is the case in many other nations. As respective Bitcoin miners, node brokers, and academics, we must step up and show the positive effects of the best cryptocurrency on the planet to people who are desperate to catch any message of hope.
It is individuals who determine what is valuable in society, and the communication of knowledge and ideas across borders has never been easier. Make no mistake, the idea that we have and the conviction that we carry is bulletproof against any regime that threatens to conquer our physical planes. One must understand that regimes cannot rule our minds unless we let them in. victor hugo wrote: “No army can stop an idea whose time has come.”
This is a guest post by Jack Williams. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
