The first battle of the Incel/Foid World War took place yesterday in Argentina: zoomer feminists vs pro-Milei lolbertarians

So, the rationale behind dollarization is that you get inflation under control and prevent the government from messing with your currency ever again by giving up all control over monetary policy; if you just unilaterally adopt the dollar, the Federal Reserve is not going to print any for you. That would work, even if it would be incredibly painful in the short term since you need to buy a shitload of dollars and you have just declared that your own money is dogshit.

The real problem with giving up control over monetary policy is that you give up control over monetary policy. It works for countries like Montenegro, which unilaterally adopted the Euro, because it's a) tightly integrated with the EU economy (the vast majority of its trade is with EU countries) and b) EU monetary policy already has to balance the issues of a bunch of countries, ensuring that nothing too wild will happen unless everybody has a problem. That was a smart thing to do.

It works for countries like Ecuador, which is a terrible shithole, didn't have much of an economy to start with and has the US its largest import & export partner by far -- if the US is happy, you're happy, if they're unhappy, you're unhappy, the Fed's policy will probably be a good fit for you as well.

With an economy like Argentina, which is not tightly integrated & synchronized with the US and - despite all the inflation - highly developed, you're just fricked. You've given up the one important temperature control you have. If your economy runs too hot and you really need to raise rates before the bubble inflates to fetish porn proportions, you can't. If you're in a slump and you need to get some cheap money into the markets, you can't. Your money supply is controlled by the US Federal Reserve and it's not their job to look after your economy.

Don't get me wrong, I'm 100% in favour of Milei because it's not only the most dramatic and therefore correct option, but Argentina also needs some real drastic, radical measures to get out of the death spiral they're in, but man, dollarization is going to frick them so bad, their monetary policy would effectively be random nonsense.

Oh, and trying to get out of r-slurred central bank money printing by tying your fate to the US FEDERAL RESERVE might not be the best plan in the long term