Tucker Carlson shows how currency devaluation ruined the Argentine economy—and how the US could be next

"This is how the US government just paid for the COVID checks and the war in Ukraine."

In the latest episode of Tucker on X, show host Tucker Carlson took a trip to Argentina in order to explore the catastrophic consequences the nation has brought on its citizens due to hyperinflation stemming from the massive amount of money it has printed. 

"For politicians money is power, they always crave more. But because they don't actually produce any, they've got limited ways to get it," Carlson said. "They can hike taxes on the population and collect the cash at gunpoint. That's the most straightforward way. But it's also highly unpopular. Voters don't like paying higher taxes, they resent them."

"So over time, most politicians in most places decide it's a lot easier to devalue the currency," he continued, "Keep the tax rate pretty much the same. You just print more money."

Carlson noted that citizens of governments typically do not notice money printing when it first begins, as it feels free.

"This is how the US government just paid for the COVID checks and the war in Ukraine. Pretty much everything else that Washington has done for the past couple of decades. Just turn out more dollars."

"But what happens if you keep doing it year after year?" Carlson asked.

"So to find out we flew to Argentina, a country of 45 million people on the Atlantic coast of South America," Carlson explained, "100 years ago, Argentina was one of the richest places in the world. It had everything abundant natural resources vast, open spaces, well educated and capable European population, its capital, Buenos Aires, once looked like Paris but probably richer.

"You can still see remnants of that time as you walk around the city today. But the buildings are ratty now marred by graffiti. Argentina is no longer a rich country. It's one of the poorest nations in the Western Hemisphere. Nearly half the population here lives below the poverty line. Chicken for dinner is a luxury..."

According to Carlson, Argentina is now dealing with "Weimar-like hyperinflation," where citizens are forced to use a brick of bills just to purchase a basic lunch as their society's infrastructure crumbles around them in more ways than just one. 

"Over the course of the average month the Argentine peso loses 10 percent of its value," claimed Carlson.

Carlson also reported that the Argentinian government will intentionally lie about its currency's value in order to justify giving approximately half of the amount of Argentine Pesos it should in exchange for the US dollar. Black market exchanges have popped up in order to combat this; a move deemed illegal by the government of Argentina.

The segment concluded with a special announcement about an upcoming interview Carlson has scheduled with Javier Gerardo Milei, an Argentine economist who is currently making a run for president. 

"We sat down with Javier Milei for a long and interesting conversation which will air here tomorrow in the space," Carlson teased. "Keep in mind as you watch it, that it's not just about Argentina. It's about you and your future too."
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