Who is Javier Millay, the ideal president of the Argentine market?

Argentina welcomed a new president on December 10 and promised deep economic reforms in the country, including the dissolution of the central bank and several other measures aimed at reducing the size and cost of government.

President Javier Gerardo Millay is also known as “El Loco” (the crazy one), a nickname he earned at school due to his explosive personality. During the campaign, Miley pushed the “crazy” man into the limelight in November by showing riotous measures to a nation burdened by 161% annual inflation.

His economic proposals are based on his decades of economic experience, having worked on private pension funds and banks during the Argentine dictatorship (1976-1983) and as a professor of macroeconomics and microeconomics, publishing numerous books and papers on economics. development.

Miley decided to become an economist at the age of 12 when the peso's currency collapsed, triggering the country's first debt crisis in the 1980s. Local media reported that Miley saw people fighting at the grocery store because of the situation. He then delved into the law of supply and demand, which states that the demand for a product increases when its price increases and decreases when its price decreases—a key concept in understanding inflation.

The new president describes himself as a “minarchist,” a type of libertarian who favors minimal government and free markets. But Miley was on the other side of the economic spectrum in his early career. In a recent interview with The Economist, Milley said he was trained in Keynesianism in college — a reference to John Maynard Keynes's economic theories about the importance of government in job creation and economic growth.

A few years later, after completing his two master's degrees, Milley found himself more aligned with neoclassical theories and a proponent of “realistic business cycle theory.” Currently, he considers the government a “criminal organization” and blames Argentina's central bank for the destruction of the peso over the years.

“Government is a criminal organization that lives off of a compulsory source of income called taxes.”

What is Javier Millay's view on real currencies?

Although Miley is not publicly known as a pro-crypto advocate, his thinking aligns closely with many traditional core crypto principles. Milley believes that “as time goes on, technology will allow us to move towards a free society” where contracts between individuals govern everything.

“Contracts between individuals are the basis of markets. The market is a process of social cooperation in which individuals voluntarily exchange property rights,” he told The Economist.

His proposal to solve Argentina's protracted economic crisis clearly does not include the use of Bitcoin (BTC) or other cryptocurrencies. However, he has already hinted at Bitcoin as an alternative to monetary authorities.

“We must understand that the central bank is a fraud. Bitcoin represents the return of money to its original creation, the private sector.

Mile has promised to dollarize Argentina's economy, putting the country's monetary system under the eyes of the central bank – but in this case, the eyes of the United States Federal Reserve.

“What I see as popular is that Javier Milei is known as a Bitcoiner candidate when in fact he is not. In fact, in some cases, he said that cryptocurrencies are not a specialty and will not be the focus of the kingdom,” Hernán González, press officer of Bitcoin Argentina, a non-governmental organization, told Cointelegraph.

Fernando Nikolic, an Argentinian Bitcoin advocate and founder of Bitcoin Awareness, shares a similar view. According to Nikolic, while Miley has praised Bitcoin in interviews, his official schedule lacks any Bitcoin-friendly proposals.

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