There is a good youtube video of Jesus Huerta de Soto here.
I’m not a native speaker and I’m having trouble understanding the part that starts just after the 28th minute. He is saying, “Eso sería una tragedia tremenda porque el _______ y la caída de los precios tenían que ser tremendo.”
Can someone fill in that blank for me?
For any economics students who want to learn terms in Spanish, this is a great video.
He says it’d be a great tragedy because of the neccesary realignment and price adjustments after the boom.
I’ve never heard Huerta de Soto actually speak, so this is nice. Thank you for the link.
I really enjoy him. I haven’t read MES yet, as I hear thats the best book for understanding ABCT but the parts of Money, Bank, Credit and Economic Cycles really opened my eyes to properly understandign the ABCT.
Gracias!
So that was realineamiento, then? And it was fall in prices, it was adjustment? He must have used a word other than ajuste. What word did he use?
Gracias!
He did say “the fall in prices would have to be tremendous.”
That’s what I thought he said, ‘fall’ in stead of ‘adjustment’. It was the word right before that that I just wasn’t hearing well. I guess it was realignment.
Silly me. My mind translates between the two without thinking of the individual words too much. John’s translation is closer to what he said. He didn’t say adjustments, that was just me. Realineamiento is realignment.
I never knew that in spanish they used ‘dollarzination’ as an equivilant phrase to monetization of debt. I wonder if that’s just a reference to the origin of the dollar, or if inflation is associated with the USD.
P.S. To clarify the word you were looking for was realineamiento.
I’m not familiar with the history, but as I was hearing it I was thinking that they were pegging their currency to the dollar, rather than just monetizing. Did I get that wrong?
I’m rewatching the video. He seems to use the term when referring to Argentina’s situation, which I think you’re referencing. He used it earlier on in place of monetization though. Let me see if I can find it.
One other south american country too. Was it Ecuador? I don’t remember.
Ecuador and Panama. It seems you’re right about the term referring to the conversion in favor of using the USD. I was positive he used it earlier on as monetization of debt.
I don’t suppose there is a handy guide line giving the proper spanish variation of jargon is there?
We should make one.
How sad would that be if monetization were called dollarization of a currency!