Экономист предостерегает о перспективах коллапса Аргентины и необходимости перехода на криптовалюту. Economist warns of Argentinas collapse prospects and the need to switch to cryptocurrency.

The economic program of Argentina’s president, Javier Milei, has been labeled a typical Ponzi scheme by Safedin Ammous, the author of «The Bitcoin Standard.»

According to him, the country is on the verge of collapse due to an unsustainable model of government bonds and rampant inflation. Authorities have established a system where speculation on these assets is the only route to financial security, the expert noted.

Ammous remarked, «The principal achievement of Milei’s administration is the destruction of the national currency and the creation of a casino for altcoins.»

The economist criticized a system known as la bicicleta financiera, which Milei introduced after he took office in 2023. This high-yield carry trade strategy involves investors purchasing government bonds with interest rates that exceed the depreciation rates of the peso.

The estimated volume of such operations ranges between $40 billion and $80 billion.

«Anyone with savings in dollars could purchase bonds yielding, for instance, 5% monthly, while the peso depreciated by 2%, leading to a net profit of 3% per month. This is the carry trade, referred to in Argentina as la bicicleta financiera—a real financial pyramid that has become the key ‘industry’ of the country,» Ammous explained.

He clarified that the government accelerates the devaluation of the national currency by printing money to pay high-interest rates. Only insiders who understand how this scheme operates benefit, while ordinary citizens «remain vulnerable.»

«The population holding savings in pesos loses everything due to inflation,» said the economist.

Ammous emphasized that the situation is worsening. The peso has dropped 10% against the US dollar and has already exceeded the corridor set by the authorities. Ahead of the elections on September 7, 2025, the Central Bank spent $540 million to support the currency, but failed to stem its devaluation.

Meanwhile, the yield on government bonds has reached 88%. According to the economist, once this yield surpasses the depreciation rates, investors will start to flock to the US dollar and Bitcoin, leading to the final collapse of the peso and forcing Argentina to seek assistance from the International Monetary Fund (IMF).

The expert asserted that Milei’s policies have proven to be not a libertarian reform but a cover for a financial pyramid that enriches a narrow circle of speculators. Bitcoin investor Simon Dixon concurred with this view.

«Milei’s altcoin speaks for itself—just like Donald Trump’s meme coin. These politicians are not elected; they are appointed to benefit banks that allow them to play president. Protect yourself with Bitcoin,» he stated.

Earlier this year, the Argentine president found himself at the center of a corruption scandal involving the meme coin Libra. The politician mentioned the token on social media, causing its capitalization to surge to $4 billion. Soon after, the value plummeted by over 90%, leaving investors with multimillion-dollar losses.

Opposition representatives in the country threatened Milei with impeachment. The Argentine Fintech Association remarked that the situation could serve as an example of a Pump & Dump scheme. Several lawsuits have also been filed against the president.

The US Department of Justice even got involved in investigating the incident.

Later, Milei stated in a televised interview that he did not intend to persuade people to buy the LIBRA meme coin; he simply «shared» information about it.

It is worth noting that in June, an anti-corruption agency exonerated the politician in the scandal involving Libra.