State collapse is inevitable when a society’s leaders are insulated from the negative consequences of their bad decisions.
Mike Shelby
Odd isn’t it. Donald Trump’s strongest supporter in South America is Argentina’s president Javier Milei.
Argentina has experience in currency collapses several times.
Recently America has SNIP
The United States’ most visible financial intervention in Argentina in 2025 was a Treasury-backed currency swap framework worth up to $20 billion, supplemented by small traditional aid flows (about $6.37 million obligated in FY2024) and proposals to mobilize additional private financing that bring the total facilitated package to as much as $40 billion, of which roughly half was U.S.-sourced under the announced plan.
factually.co
SNIP Argentina’s Sovereign Defaults: History, Recent Developments, and Current Context
Argentina has defaulted on its external sovereign debt nine times since independence — in 1827, 1890, 1951, 1956, 1982, 1989, 2001, 2014, and 2020
maseconomics.com
. The most recent sovereign default was in 2020, which ended a 25‑year gap between major external defaults
The Rio Times
Historical Pattern
Argentina’s defaults have been linked to structural fiscal imbalances, currency pegs, and over‑borrowing during commodity booms, followed by collapses when global conditions tightened or domestic credibility eroded
Fair Observer
. Notable episodes include:
2001: The largest sovereign default in history, triggered by the collapse of the 1991 Convertibility Plan and a fiscal crisis
maseconomics.com
2014: A “selective default” on certain bonds, followed by restructuring
2020: Default on remaining external debt, with IMF and US Treasury support
maseconomics.
It seems even with Argentina gaining ground on its debts and reduction of Peronist-Socialist Bureaucracy under Javier Milei the economics of high oil prices has again crippled a struggling economy despite President Trumps assistance.
Looking at recent news across South America this is the tip of the iceberg as all nations in that area depended on Middle East oil, Fertilizer AND for mining Sulfur and secondary chemicals.
Going to get ugly down there once the last years food supplies are eaten up.
For the American “Who cares that’s South America” Venezuelan Sour Crude (were still trying to extract a decent amount) Mexican Sour Crude (Used for Deisel and Jet fuels) MANY Metals, some 15 PERCENT of the American’s food supply (not just avocados from Mexico) is at RISK.
Got deep pantries, trusted friends and trusted family ready?
The Quiz might be a surprise quiz as Banking Holidays are never announced.
Only the 14th time in the last 50 years I think. I had Argentinian roommates in college who said that when they were kids in Argentina you’d get up and check on how many zeros to add to the money each morning. GOVERNMENT…and central banking combined with fiat currencies….are the greatest evils ever created by man.
I’m still waiting for Mr. Liberty to pass on his own ideas on how to DO Banking.
I had a sign on my desk that said, “Complaints welcome, BRING a Solution”.
Banking, like government has many flaws but history keeps pointing out how useful good government and honest banking has been for successful societies.
So far, I’ve never heard of a successful Libertarian Society. You know the ones with NO Government and apparently no banking.
Maybe Mr. Liberty could give some examples?
https://mises.org/library/book/taking-back-our-money
One of hundreds of great FREE articles, books, etc on SOUND BANKING on that wonderful site.
CENTRAL BANKING combined with fiat currencies are the root of every economic problem faced by countries.
AGAIN as Before you fail to give me YOUR IDEAS.
I have those books on my shelf, have read them and they have never worked in the real world.
Like socialism great in moral thinking but that NASTY OLE Human Nature comes into play.
Don’t you have ideas that YOU thought about Mr. Liberty?
Still want YOU to show US any example of a Successful Libertarian society.
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