Posted on 02/16/2025 3:55:06 PM PST by Eccl 10:2
Argentine President Javier Milei could face an impeachment trial in Congress, opposition lawmakers said on Saturday, after the libertarian leader touted a cryptocurrency which crashed soon after.
(Excerpt) Read more at reuters.com ...
He should have done the Sovereign Fund route instead.
At least he should have bought some “legit” crypto, not some memecoin that has no practical value.
“Looks like Milei got some bad advice”
He was too good to be true.
look...we ALL know this hasn’t a thing to do with bitcoin. it’s all about the empire strikes back.
Inclined to agree w/you.
Too much DS “Mr Too” isms going on here. It’s Reuters. Chill out.
I don’t think there is any crypto coin with a solid enough foundation to be any good for a country.
If you can make laws that govern Sovereign funds to ensure that they cannot go corrupt, that’s probably the best way for a poor country to recover. No matter the funds put into it, if done with ethical guards, the fund would pay back the initial investments in about 12-15 years. Then from there, it’s pure gravy.
It’s just a question on how to protect the fund from being drained by selfish people.
Yep. He should have talked with Tom Selleck first
This was his personal token. I dont understand it fully but the people he entrusted pumped and dumped it (like in a stock sense)
So he’s in trouble. They made off with several millions I believe.
Some other tech minded Freeper might explain it better?
He deserves his fate if he was trying to become wealthy unduly through his office.
Unfortunate that another one of our hopefuls could not be trusted.
Yes he lent his name to it. Stupidly. He even tweeted about it....
Trump I think doing something similar with digital tokens albeit properly but it goes to show you need to be careful when lending your name to stuff like this.
This sucks.
Have to be careful here. My Hauk Tuak crypto is almost worthless.
It does not look good for him with this scheme...
As I said be CAREFUL what you put your name to.
Trump is doing it properly but even so needs to be remain vigilant
Celebs are touting these “coins” that can be purchased by fans and pumped up and in some cases a huge kickback or dividend is paid to them so they shill them for that all day long...
It’s becoming a bit of a craze and I’m afraid will end badly for crypto.
They need to get their act together before it causes them harm in a regulation sense
That’s advice is just as bad. Why does any government need to take from citizens and invest it?
This sounds like what happened in Albania in the 1990s, as documented in PJ O’Rourke’s “Eat The Rich”. As he quoted, “Albania has the distinction of being the only country ever destroyed by a chain letter.”
First, that may be the only way the poorest countries can raise their standard of living, lacking an ability to attract and industrial base. Should countries, where the average wage might be $10/day and the citizen earns just enough for food, to stay that way forever? Should the Appalachians stay drug addicted and forever poor because their region is unable to attract companies so they can work? What should the poorest regions of the world do if they cannot attract companies so their citizens can work?
Second, if corruption can be avoided, which is a real concern of mine, it eventually pays the principle back through the revenue. It’s why the rich invest in the first place, to eventually earn incomes from their investments to pay back the principle and then some.
Third, I wasn’t really advocating for a sovereign fund, other than that was a better option than crypto currency. I am very aware of the potential of sovereign funds to become USaid II.
Even the Hawk Tuah chick could’ve warned him.
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