AP wrote:Argentine peso plunges after shaggy-haired rightist who admires Trump comes first in primary vote
BUENOS AIRES, Argentina (AP) — The Argentine peso plunged Monday after a shaggy-haired 52-year—old anti-establishment candidate who admires former President Donald Trump came first in primary elections that will help determine the country’s next president.
Javier Milei rocked Argentina’s political establishment Sunday by receiving the biggest share of primary votes for presidential candidates in the October general election to determine who leads a nation battered by economic woes.
Milei wants to replace the peso with the dollar, and says that Argentina’s Central Bank should be abolished, and that he thinks climate change is a lie. He has characterized sex education as a ploy to destroy the family and has said that he believes the sale of human organs should be legal and it should be easier for Argentines to own handguns.
Argentina’s government decided to devalue the local currency by 20% early Monday morning after the surprising Milei showing that turned Argentina into the latest country where voters have chosen an outsider candidate to express anger against the status quo. Two mainstream political coalitions have traded power for a decade in Argentina.
Operators were watching nervously Monday as the value of the peso also decreased in the parallel, or blue, market, dropping 12% by early afternoon.
Argentina requires that citizens vote, and 69 percent of the country’s 35 million voters went to the polls, each choosing candates for positions ranging from local councilman to president.
The major parties had contested races to be its presidential candiate. Millei was uncontested, and got a few points more than the candidates of parties that have dominated Argentine politics.
The result is important because of the bolded part.
This guy is pretty damn crazy, but this is the result of the exhaustion felt by many Argentinians resulting from decades of Peronism and a 3-digit inflation.
An example of his insanity: