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Anonymous ID: 9e45ac Feb. 24, 2024, 12:23 p.m. No.20469657   🗄️.is đź”—kun   >>9666 >>9715 >>9943 >>0025

>>20469609

Argentina: Milei to Introduce Bill Jailing Anyone Who Orders the Central Bank to Print Money to Cover Deficit

 

Argentine President Javier Milei said on Thursday evening that he will present a bill to Congress to punish with jail time any Central Bank official that issues money to the National Treasury to finance fiscal deficits.

 

Milei, in an interview * with the news channel Todo Noticias, said that the intention is to define the practice of printing money — known as seigniorage — as a criminal offense.

 

“The bill will define seigniorage as a criminal offense and in case the Central Bank finances the treasury, either directly or indirectly, the president of the Central Bank, the board of directors, the president of the Nation and the officials who vote for it would end up in jail,” Milei said.

 

The objective, Milei said, is “not to be able to issue money to finance the Treasury,” pointing out the previous administration of former socialist President Alberto Fernández that, during his disastrous four-year presidency, printed the equivalent of 18 percent of Argentina’s GDP in pesos.

 

The bill is part of Milei’s “shock therapy” plan to restore Argentina’s economy after nearly two decades of socialist rule left the South American country with a record inflation rate and on the verge of entering a hyperinflation spiral.

 

The legislation would help to reduce public spending to such an extent that the national government will be able to pay for its operations with its resources, without the need to resort to the issuance of money by the Central Bank of Argentina.

 

https://www.breitbart.com/national-security/2024/02/23/argentina-milei-introduce-bill-jailing-anyone-who-orders-central-bank-print-money-cover-deficit/

 

*

https://www.youtube.com/watch?v=WxV1_ItfYqU