Good write up. As a matter of survival and keeping the economy going, there is no way the Argentine economy could handle 100% fully adapting a CBDC. It would mean having to comply with the insane tax burden, among other red tape. So much of the economy works because it is "en negro". It is a strange parodox where if all businesses complied with all the rules, taxes, etc, they would go under, so this incentivizes the "en negro" free market type activities, which keeps the economy afloat. Argentines would work around the CBDC fast.
Thanks! Yeah that is my assumption as well; it’s very much a political daydream to be able to switch to a cashless society in Argentina. I thought it was funny that one of the positives the guy mentioned was that they would collect more taxes: like you say, all businesses would go under 😂
Frustrating to see these totalitarian trends making their way to the southern cone, ensuring this pointless game of cat and mara continues... but as you say (in other words!), "hecha la ley, hecha la trampa" / "as regras são feitas para serem quebradas"
Good write up. As a matter of survival and keeping the economy going, there is no way the Argentine economy could handle 100% fully adapting a CBDC. It would mean having to comply with the insane tax burden, among other red tape. So much of the economy works because it is "en negro". It is a strange parodox where if all businesses complied with all the rules, taxes, etc, they would go under, so this incentivizes the "en negro" free market type activities, which keeps the economy afloat. Argentines would work around the CBDC fast.
Thanks! Yeah that is my assumption as well; it’s very much a political daydream to be able to switch to a cashless society in Argentina. I thought it was funny that one of the positives the guy mentioned was that they would collect more taxes: like you say, all businesses would go under 😂
Frustrating to see these totalitarian trends making their way to the southern cone, ensuring this pointless game of cat and mara continues... but as you say (in other words!), "hecha la ley, hecha la trampa" / "as regras são feitas para serem quebradas"
Yeah it is annoying but in a sense if this does get pushed through like you say I think Argentines will find their way around it quickly.