>>12336the video is wrong on several points and it is uncritically repeating the official narrative
the corruption thing and the election in Buenos Aires had nothing to do with the forex run, the reason why the demand for dollars increased was because most international "investors" (bond holders) thought the government wasn't going to be able to
1. meet it's usd-denominated obligations in january and july 2026 and
2. provide liquidity to the exchange market to artificially keep the usd cheap
in other words, the argentine central bank didn't have enough usd reserves to pay it's debts or keep the current exchange rates
and it fails to mention why the peso keeps losing value or why the government is spending so much money to keep the exchange rate as low as possible - it's not really to "stop inflation" in abstract, considering it has already devaluated the peso several times. the reason for these two things and the root cause of most of these problems is that the government is (or was, up until last week) emitting short-term bonds, in pesos, with interest rates way above the inflation. international investors would change their dollars for pesos, buy those bonds, collect the interests after some months, and convert back to dollars before the inevitable peso devaluation
think about it this way, you go to a casino where the games are rigged a 30% in your favor, 1 chip = 1 dollar, but there is a catch, the casino chips devaluate at midnight and after that the exchange rate is 1 chip = 0.5 dollars. the optimal strategy if you buy 100 chips is to play, win those 30 chips, and cash out right before midnight. is the casino losing money? yes, and at an alarming rate, and all these imf loans and treasury swaps will be paid by the working class. never by the jp morgans in the private sector that are benefiting from it or the government officials that setup the scheme