Macri shares function as a subsidy to capital flight

There are stocks and stocks. They all try the same goal: to disengage the demand for dollars for financial and speculative reasons from rising food prices, the exit of deposits in banks, the rate of inflation and the impact of this. request for dollars for financial reasons. in the bookings. These are essentially the variants to control changes in a country such as those that have been made in recent years in Argentina. The first attempt of a central bank to build a stock is to draw money out of the trade surplus. As exporters and importers are forced to liquidate or buy their currencies on the exchange market controlled by the Central Bank, it can be said that the first thing you are trying to do is nationalize the trade surplus. In other words, the state retains the trade surplus and it is a primary objective of any stock; we can say that a stock is much more logical if there is a larger trade surplus. And that makes a lot less sense when the trade surplus is weak or when it does not exist. It is precisely for this reason that the stocks put in place during the Kirchner era have lost their meaning when the country became a deficit. In such situations, the state finances exchange arrears and subsidizes imports that can be made at a preferential price. For this reason, mainly, stocks are created when the "red" alarm sounds in the trade balance and large devaluations often occur below two digits. That is, it does not come out easily from a stock, with picket but with a gross devaluation, perhaps create other shares at a higher dollar level or free the foreign exchange market if the central bank does not want to expose its reserves.