Sec News ‘The party is over,’ Javier Milei to end political privileges and the central bank

Javier Milei is the new president elected in Argentina to assume the presidential chair in 2024. Milei is a controversial figure who has already promised to end all political privileges and the central bank in the country.

In another recent revolutionary and controversial speech, the newest president of Argentina compares a politician to derivative assets. Where, in his words, citizens are the underlying asset they represent.

“We are not above the ones we represent. In financial terms, the derivative is never worth more than the underlying asset. The derivative exists because the underlying asset exists. We exist as representatives of the people because the people exist.”

— Javier Milei

Milei states that the political class is “delusional” for thinking they are worth more than the people they represent and that he plans to end this during his presidential term.

No more privileges for politics in Argentina

The Argentine president continued his speech, clarifying that politicians will now have “the same privileges as the common people.” Milei repeated sayings about this political class having to deal with the consequences and results of their actions.

“If they screw up, not only the honest Argentines will suffer the consequences. The politicians are going to suffer even more. They will have to live like the honest Argentines live. Their privileges are over. The party is over.”

— Javier Milei

Notably, Javier Milei recently confirmed his plans to end Argentina’s central bank, in addition to ending political privileges. This week, his team sent a press release explaining that “the closing of the Central Bank (BCRA) is non-negotiable.”

Both ideas are strongly linked to Milei’s promoted vision of a libertarian society. It was this vision and radical ideas of decreasing the power of the State that contributed to his victory. However, besides the usual critics feeling threatened by the president’s ideas, some libertarianism enthusiasts are showing skepticism about Milei’s real intentions.

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