As $8 billion dollars in debt from the past are set to expire next year, Milei's team transfers part of the gold reserves, $1.5 billion, to a London bank as collateral to prevent another default, given Argentina's history of asking for money and then refusing to pay. (Non-leftist) analysts agree that it's the best path forward without depleting the central bank's reserves and causing another spike in inflation.
The media say that Milei has not explained why he did this or where he sent the gold. Milei did explain it even before they started churning out clickbait articles about it. Unexpectedly, the media lied.
An article (in Spanish) explains in greater detail:
https://www.eleconomista.es/mercados-cotizaciones/noticias/12965587/08/24/milei-revela-por-que-saca-millones-de-onzas-de-oro-de-argentina-el-plan-para-evitar-el-default-y-la-inflacion.htmlLet's see what the least schizophrenic e-right Twitter account says about this economic measure...
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