This was stated at a press conference at the headquarters of the Stock Exchange, which he visited to mark the institution’s 170th anniversary.
“Thanks to what we did, we were able to move forward in ending the endogenous generation of money and now we have to resolve two issues: one is the issue of the puts and the other is the end of the currency controls,” he said, adding that the amount of money will be reduced, but warned that “we must be careful not to suffocate the economy by pursuing the rate of disinflation.”
He also assured that “continues to have the Central Bank in its sights” because “some governments are enthusiastic about the machine” and he praised the Minister of Economy again Luis Caputowhom he called “giant”.
“Minister Luis Caputo is the best Minister of Economy in the entire history of Argentina,” The President affirmed and thus reaffirmed once again the figure of his official in a context in which he is confronted with Federico Sturzeneggerwho has just joined the Government.
At the beginning of his dissertation entitled “Money, prices and exchange rates”Milei stated that “excess demand functions respond to a quantity at a price that one gives it,” but clarified that this demand may not always be in equilibrium.
In this regard, he pointed out that “one builds a model to respond to that, whose solutions exist, and it is stable,” but he regretted that many economists do not understand these terms. And he confessed to being surprised by the poor debate on the economy that exists today in Argentina.
In his speech, the head of state said he was committed to the success of your economic plan and pointed out that “a sign of this is having renounced his privileged retirement,” so he has to secure a good reputation to continue working when he leaves the Presidency.
In another part of his association, the President spoke about the role of money and said that “it is a widespread means of payment that emerged to replace transactional goods that do not operate as a store of value, it has a negative interest rate.”
He also pointed out that in the series El Zorro, which he said “is about an anarcho-capitalist character who defended private property and fought against those who charged taxes to the inhabitants, you can see how transactions were made before the existence of money.”
In this sense, he assured that the money comes to solve the transactional problem, but that the problem is “when some governments get excited about the machine” and confessed that “I still have the Central Bank in my sights” for that reason.
The speech of the head of the Stock Exchange Adelmo Gabbi
The president of the Buenos Aires Stock Exchange, Adelmo Gabbi, He said during the celebrations of the 170th anniversary of the institution: “To transcend time requires unwavering values and implies never forgetting our sources and embracing the ideas of freedom as a way of life.”
In line with this, he thanked President Javier Milei for honouring the founding principles of the stock exchange and stressed that he is confident that “over time, despite some difficulties that may arise, good results will be achieved on the path taken.”
He also welcomed the Government’s initiative to maintain the zero deficitbut he said that he has to repay the benefit of this effort in infrastructure, since “society has to perceive this result.” In addition, he said that there are no quality investments without physical and legal security.
“We are at a historic moment in which we celebrate the achievement of having approved the Bases law,” Gabbi added. And she assured that “we are in a new country.”
Finally, he praised the speech given by Milei in Tucumán at the signing of the May Pact and emphasized: “This Stock Exchange tells you that we are prepared for the transformation and said that they are determined to be protagonists in financing the infrastructure with a public-private investment model.”
Source: Ambito
