Elon Musk, CEO of Twitter, SpaceX, and Tesla, commented on the latest reports regarding the creation of a common currency in Latam, which Argentina and Brazil initially plan to work on. Musk said the move is “probably a good idea. Musk commented on the topic on social media, saying the move would “probably be a good idea.”
Elon Musk Gives His Take on Latam Common Currency
The latest reports that Brazil and Argentina are considering issuing a Latam common currency have already reverberated around the world, with Twitter and Tesla CEO Elon Musk recently commenting on the issue of such a currency, which would create a common economic zone for the Latam countries Assessment.
In response to a tweet stating that other countries in Latam would be invited to participate in the plan to create the second largest monetary union after the European Union, Musk said:
Probably a good idea.
Argentine Economy Minister Sergio Massa warned that the discussion is just one of the first steps in the construction of the currency, which is preliminarily called the “sur” and that it may take some time before the initiative is completed. The purpose of this currency would be to undermine the strength of the US dollar in the region.
Distrust of the Dollar
Several prominent individuals have predicted the downfall of the U.S. dollar as a personal and global reserve currency and have called on individuals to abandon fiat money and invest in a sounder alternative currency. Robert Kiyosaki, author of “Rich Dad, Poor Dad,” has been cautioning his followers for some time now, stating that the U.S. dollar is doomed after Saudi Arabia announced its intention to join the BRICS in October. In his opinion, Kiyosaki also recommends buying bitcoin to avoid the dollar crash that, in his opinion, will occur by January 2023.
In March, Musk made recommendationsto followers on social media about inflation rates and how he believesin dumping dollars to acquire physical assets.
Musk explained that.
As a general principle, for those looking for advice from this thread, it is generally better to own physical things like a house or stock in a company you think makes a good product than dollars when inflation is high.
In addition, Mr. Musk made it clear that he would not be selling his bitcoins or doji coins at that time.
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