Adapted from an forthcoming article by Hans-Hermann Hoppe:
… concerning [Javier] Milei and the (non-)closure of Argentina’s central bank” … He has also introduced some economic “free market” reforms in Argentina that have been inspired by “Austrians.” But he has done nothing truly radical, deserving the praise of any anarcho-capitalist. He has not closed the central bank, as originally promised, and there are no signs that this will happen any time soon. He has brought consumer price inflation down from 300% to some 30% (wow!), but the money supply (of all monetary aggregates) has continued to grow rapidly (even more so than under several of his predecessors). He has centralized rather than decentralized government power and is on record as being fundamentally opposed to secession. In addition to assuming (rather than repudiating, as Rothbard would have recommended; see below) the existing government debt owed to the IMF of some 40 billion USD, he burdened the Argentinian people with another 42 billion USD of debt, solicited from the IMF, the World Bank and the Inter-American Development Bank, and in order to avoid insolvency right before the Argentinian mid-term election, in October 2025, he further required a rescue package of some 20 billion USD from “his dear friend” Donald Trump.
See, e.g., Man, Economy, and State, with Power and Market, Scholar’s ed., 2nd ed. (Auburn, Ala.: Mises Institute, 2009), p. 1028:
Social utility can therefore not be enhanced by debt-reduction, except by the method of repudiation—the one way that the public debt can be lowered without a concomitant increase in fiscal coercion. Repudiation would also have the further merit (from the standpoint of the free market) of casting a pall on all future government credit, so that the government could no longer so easily divert savings to government use.
idem, “Frank Chodorov: R.I.P.,” Left, Right, and the Prospects for Liberty (Auburn, Ala.: Mises Institute, 2010), pp. 359–364, p. 361 (originally published in Left and Right (Winter 1967): 3–8, p. 5:
[Chodorov] was the only one of the host of ostensible believers in the free market economy in this country to call for the outright repudiation of the public debt, and to see that such repudiation is infinitely more libertarian and infinitely less criminal than looting taxpayers to redeem that debt.
idem, “Repudiating the National Debt”, Chronicles (June 1992; Mises Daily version): 49–52.
