Economy and current affairs
Miguel Braun's notes on the dollar, the Central Bank, the Federal Reserve and Argentina's economy.
President Milei: Floor the accelerator with what you say
Analysis of the contradiction between Milei's anti-inflation rhetoric and the economic team's actions on the dollar, interest rates and liquidity.
Dollar rally, intervention and fatal arrogance
The unwinding of the LEFIs, the dollar rally and the BCRA's response. Why intervention contradicts the government's Hayekian principles and holds back the rate cuts the economy needs.
How to free the FX market right now
A concrete proposal to free the FX market without relying on the IMF: exporters that keep their FX, importers buying at the MEP and the cleanup of the BCRA's balance sheet.
Sharp drop in Argentine stocks
Argentine stocks are down 25% in USD since January. Analysis of the vicious circle between capital controls, reserves and the IMF, and why the market is still a buying opportunity.
What do we do with the pesos?
How to build a 50/50 portfolio between pesos and dollar-denominated assets as the dollar drops. Banks, Oil & Gas and Argentine stocks as the best investment in the world.
How do you free the FX market without reserves?
Analysis of the closing of the third monetary emission tap and why freeing the FX market is just around the corner, without the need to accumulate reserves.
Why does the BCRA deserve to be shut down forever?
The BCRA has not met any of its goals in 90 years: neither monetary nor financial stability nor economic development. A full analysis and 5 concrete measures to cut public spending.
The FED: The most important player in the markets
What the FED is, how quantitative easing works, when to buy stocks and what monetary tightening implies for global markets and risk assets.
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