Voice cloning uses machine learning algorithms to simulate or mimic an individual’s voice.

Models are trained by analyzing audio samples to learn speech patterns and characteristics.

Documents report wide variation in how much source audio is needed, with one report citing as little as three seconds while other sources mention several seconds to minutes and note that more audio improves realism.

Voice cloning tools were once limited to experts but are now widely available online as free and paid services that require little technical skill to use.

Described legitimate uses include entertainment, education, journalism, voice assistants, chatbots, navigation systems, accessibility for people with speech loss, and AI-driven virtual news anchors.

Documents record malicious uses such as fraud, impersonation, and scams including AI-enhanced fake kidnapping calls and extortion schemes.

A cited real-world example is a late-2023 fake dental plan advertisement that used AI to create a video of Tom Hanks and drew public notice.

Detecting AI-generated voices in real time is described as a significant and growing technical challenge, especially as models improve and can operate across many languages.

The accessibility and affordability of voice generation tools have democratized their use and lowered the barrier for misuse by people without technical expertise.

Publicly available audio such as social media posts or voicemail greetings can be reused to create convincing voice clones.

Policy and legal recommendations include clearly defining legal and illegal uses, establishing enforcement mechanisms and penalties, and keeping laws updated as technology changes.

Documents also advise technical supervision, restrictions in sensitive sectors, transparency and consent requirements, certification for authorized use, and investment in detection research and ethics education.

Practical mitigations advised for individuals include setting shared code words or safe phrases, calling back via separate channels, tightening social media privacy, and avoiding impulsive actions on emotional calls.

Ethical concerns highlighted include harms to reputation and personal rights, risks to social order and national security, emotional and psychological impacts, and broader societal effects from creating virtual people.

Overall, the documents present voice cloning as a technology with useful applications and serious risks that require coordinated legal, technical, and educational responses.

Conclusion: Voice cloning is becoming highly realistic and easy to access; it offers genuine benefits but also poses serious scam, privacy, legal, and ethical risks, so regulation, detection research, and practical precautions (safe words, call-backs, privacy settings) are needed to reduce harm.

Voice cloning uses machine learning algorithms to simulate or mimic an individual’s voice.

Title:

Content: The scary side of artificial intelligence

The pros of AI outweigh the Cons or threats in our day-to-day lives, and there’s no magic pill to protect us from the scary threats of AI.

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  • Updated On Oct 3, 2023 at 03:02 PM IST

Artificial intelligence (AI), as we all know, is the simulation of human intelligence leveraging computer systems and machines. AI programs can continuously learn and evolve with experience. In technical terms, AI systems render the output by churning and analyzing the data for correlations and patterns and help make future predictions using these patterns.

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Today AI is being used extensively in all facets of our lives starting from lifestyle, e-commerce, home appliances, automobiles, navigation, transport, healthcare, agriculture, education, financial planning, chatbots, marketing, cyber security, virtual assistant, industrial automation and many more.

Clearly, we have and are leveraging the strengths of AI to the fullest to automate the routine tasks and make it auto-learn over a period. There’s no doubt that AI has revolutionized the lives of all – organizations, consumers etc. But as they say, “Everything comes at a price”. This analogy is quite true for AI as well, there have been a lot of threats that have emerged using AI and are being utilized by the Cyber criminals to dupe the ignorant users, cause mental stress and extort money.

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I’m not going to delve into all of threats but would like to elucidate some of the real ones that have come to the surface recently:

Voice cloning or mimicry

As the name suggests, it uses machine learning algorithms to simulate anyone’s voice. It requires certain voice data to analyze and learn the specific patterns of any individual. There are certain advantages of cloning a voice that can be used in voice assistants, chatbots, navigation systems and other areas. Voice cloning has existed for a while but was restricted to experts who possess the technical knowledge to be able to use the same. But now AI Voice cloning tools are available on the open Internet that anyone can leverage with literally no technical knowledge or cost to clone anyone’s voice. All you need to do is just Google and it will pop up and get a bunch of both free and paid AI Voice cloning tools.

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In fact, recently one of the global leaders in online protection published a report stating how AI is fueling a rise in online voice scams, with just three seconds of audio required to clone a person’s voice. This is extremely creepy. Just imagine, if a Cyber-criminal clones your voice and tricks your near ones by making them believe that they are talking to you, and request for money due to any distress reasons. In fact, these are not assumptions but real-life incidents that are happening across the world every minute.

Deepfakes AI

Deepfakes AI are being used to impersonate an individual by manipulating videos, images, audios, and other content available on the social media platforms using deep learning techniques. It mainly transforms existing content from one person to another. This is another area that has been exploited by the Cyber criminals in the recent past, and there are a few deepfake cases that have made waves on the Internet. One of the most famous ones being Deepfake created by a VFX artist of one of Hollywood’s most famous male actors. This piece was so well made by rendering thousands of pictures using artificial versions of the actor. There are similar Deepfakes incidents involving other global celebrities and leaders. The damage and misuse of the deepfakes videos could be extremely dangerous for the human society and can be used by terrorists to incite riots and create nuisance.

Creating virtual people

This is another area where AI is being used to create people that do not exist. There are a lot of websites that allow you to generate a random image by just specifying the age group, gender & ethnicity, and you can continue to refresh these images at the click of a button. Be mindful of the fact that these images pertain to people that do not exist in this world. On the similar lines, there’s an emerging trend of AI news anchors that possess a human-like appearance and are fed data that they can read using text-to-speech technology. Recently, there's been a surge of AI-Driven robotic new anchors in multiple language channels. While the main objective of this initiative is to provide royalty free or cost-effective human images for branding and other purposes. However, the overuse of these technologies causes Fear of missing out (FOMO), Feeling of inadequacy, dissatisfaction, and isolation may potentially lead to psychological and emotional vulnerabilities.

One of the Hollywood movies, ‘HER’ portrayed an introverted and lonely writer (Joaquin Phoenix) who purchases an AI virtual assistant personified through a female voice to assist him in his writing job. However, when he finds out about its ability to learn and adapt, he falls in love with it. The film delves into emotional vulnerability and the impact of AI on human relationships.

Needless to say, that the pros of AI outweigh the Cons or threats in our day-to-day lives, and there’s no magic pill to protect us from the scary threats of AI. However, there are certain preventive tips that one can follow to mitigate any such risks. Do spread awareness with your family and friends:

  • Set some code words with family, and friends to verify the identity during emergency circumstances
  • Optimize social media presence by limiting your connections with only known contacts and avoid connecting with any unknown ones
  • Avoid saying ‘Yes’ as a greeting while receiving unknown calls as it can be used to authorize credit card charges or other purposes
  • Continuously update privacy settings on social media to allow viewing by friends and family only
  • Avoid clicking on any suspicious links or calls received without proper due diligence
  • Do not share your passwords and other sensitive information with anyone
  • Verify the credentials of any online information before circulating it through various mediums
  • Avoid public Wi-Fi connections offered at coffee shops or airports, which requires to enter password
  • Closely monitor the time spent by younger generation on social media and online gaming
  • Finally, in case of any suspicion, double check and report it to the host site or concerned authorities
The author is the CIO of MOVIN

Disclaimer: The views expressed are solely of the author and ETCIO does not necessarily subscribe to it. ETCIO shall not be responsible for any damage caused to any person/organization directly or indirectly.

  • Published On Oct 3, 2023 at 03:02 PM IST

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Title:

Content: Can AI help someone stage a fake kidnapping scam against you or your family?

You may feel confident in your ability to avoid becoming a victim of cyber scams. You know what to look for, and you won’t let someone fool you.

Then you receive a phone call from your son, which is unusual because he rarely calls. You hear a shout and sounds resembling a scuffle, making you take immediate notice. Suddenly, you hear a voice that you are absolutely certain is your son, screaming for help. When the alleged kidnappers come on the line and demand money to keep your son safe, you are sure that everything is real because you heard his voice.

Unfortunately, scammers are using artificial intelligence (AI) to mimic the voices of people, potentially turning these fake voices into things like kidnapping scams. This particular scam seems to be rare, but it’s happening.

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How frequent are fake kidnapping calls enhanced with AI?

Such fake emergency scams occur frequently enough that the Federal Trade Commission (FTC) provided warnings and examples for consumers. Hard numbers that indicate the frequency of these calls aren’t readily available, though, especially for calls known to make use of AI.

Such scams are certainly possible with current AI technology. Fake video and audio of politicians and other famous people are appearing with regularity. Aided by AI, these clips are frighteningly believable.

You may recall the incident in late 2023 involving a fake dental plan advertisement that featured Tom Hanks. AI technology created the video. Hanks had to make a social media post calling out the fake advertisement.

MORE: THE ‘UNSUBSCRIBE’ EMAIL SCAM IS TARGETING AMERICANS

How does an AI fake call work?

The AI technology creates a fake by analyzing a sampling of an audio clip of the person it wants to mimic. It uses its ability to interpret incredible amounts of data to take note of multiple characteristics of the person’s voice, allowing it to make a highly realistic fake.

Once the AI is able to create the fake audio, programmers then tell it what to say, creating a personalized message designed to sell dental plans or to convince you that your loved one is in trouble with kidnappers.

Some AI programmers that use the fake audio for helpful purposes — such as for allowing people with medical problems like ALS to regain their “speech” — claim they can mimic a voice with as little as a few minutes of audio clips. However, the more audio that’s available, the more realistic the mimicked voice should sound. Twenty minutes of audio is far better than three, for example.

As AI’s capabilities continue to expand at breakneck speed, you can expect the time requirements to shrink in future years.

WHAT IS ARTIFICIAL INTELLIGENCE (AI)?

MORE: HOW TO GUARD AGAINST BRUSHING SCAMS

Do I have to worry about falling for a fake AI audio kidnapping scheme?

Realistically, the vast majority of people don’t have to worry about a fake kidnapping scheme that originates from AI-generated audio. If your loved one has a lot of video and audio on social media, though, the scammers may be able to find enough source audio to create a realistic fake.

Even though AI makes this type of scam easier to perform, the setup process still remains too time-consuming for most scammers. After all, scammers in this type of scheme are relying on your rapidly expanding fear at receiving this type of call to cause you to miss obvious clues that would tell you it’s a fake.

The scammers may simply have a random child scream and sob uncontrollably, while allowing you to rapidly jump to the conclusion that it’s your child. This is far easier than using AI to try to source and generate audio … at least for now.

MORE: HOW SCAMMERS USE AI TOOLS TO FILE PERFECT-LOOKING TAX RETURNS IN YOUR NAME

Steps you can take to protect yourself from a fake kidnapping scam

Even though the scammers try to gain the upper hand with the suddenness of the fake kidnapping call and by catching you off guard, you have some steps you can take before and after you receive this type of call to prepare and protect yourself.

1. Ask your loved ones to keep you informed about trips: Fake kidnappers may try to convince you that the abduction is taking place outside your city. However, if you know that your loved one did not leave town, you can be confident that the call is probably a fake.

2. Set up a safe word or phrase: Set up a safe word that your loved ones should use if they ever are calling you because of a dangerous situation or because they are under duress. A scammer is not going to know this safe word. If you don’t hear the safe word, you know it’s probably a fake call.

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3. Use privacy settings on social media: Ask your family members to limit who can see their social media posts. This would make it harder for a scammer to obtain source audio that’s usable in a fake kidnapping audio call. For more information on maintaining and protecting your online privacy, click here

4. Try to text your loved one: Either during or immediately after the call, send a text message to your loved one without telling the caller. Ask your loved one to text you back immediately, so you can converse without tipping off the scammers. If you receive a text back, you can be confident the call is a fake. Consider creating a code word that you can use with the entire family. When you send this code word in a text, everyone knows it’s a serious situation that requires an immediate response.

5. Stay calm and think things through: Finally, although it is incredibly difficult to stay calm when you receive this kind of call, it’s important to keep thinking clearly. Do not panic. Regardless of whether it’s a real call or a scam call, panicking is never going to help. Listen for clues that make it obvious the call is a scam. Try to gather some information that can help you make a clear-headed judgment about the legitimacy of the call.

Kurt’s key takeaways

As AI continues to become more readily available and gains sophistication, scammers will be ready to take advantage of it. Perhaps by then, AI will even the playing field by coming up with ways to help us protect ourselves. Until then, taking steps to protect your family, such as by setting up a safe word, can give you some peace of mind.

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Are you concerned about how scammers may take advantage of AI to create new scams?  Let us know by writing us atCyberguy.com/Contact

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Answers to the most-asked CyberGuy questions:

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Models are trained by analyzing audio samples to learn speech patterns and characteristics.

What is necessary for voice cloning to work?

What is necessary for voice cloning to work?

Documents report wide variation in how much source audio is needed, with one report citing as little as three seconds while other sources mention several seconds to minutes and note that more audio improves realism.

Title:

Content: AI tools can replicate people ’ s voicesmibluesperspectives.com
How to protect yourself from fraudulent AI calls?
With the increasing capacity of generative AI tools, it has become easier and cheaper for scammers to create convincing fake sounds for certain people, so that these transcriptions are trained on the syllables of human speech, and can be modified to imitate almost anyone.
AI tools improve by cloning people ’ s voices, and fraudsters use these new abilities to commit fraud.
The latest models can speak many languages, so their dangers can affect almost all countries of the world.
A possible scenario.
Imagine this scenario.
You answer a random call from a family member, relentlessly explaining how a terrible car accident happened and he needs you to send money now, otherwise he will go to jail.
You can hear the desperation in his voice demanding an immediate cash transfer.
Although the voice certainly sounds like that person, and the call came from their number, you feel like something is wrong.
So, it was decided to end the call and call him immediately.
When he answers your call, he says there was no car accident, and he has no idea what you're talking about.
Well, with this action I managed to avoid a fraudulent call by artificial intelligence.
Avoid exposure to fraud
While the threat of AI-powered scams can be scary, you can stay safe by keeping a few tips in mind, the next time you receive an urgent and unexpected call.
Artificial intelligence tools can clone people ’ s voiceselearningindustry.com
Call back: It is very easy for scammers to show the call as if it came from a legitimate phone number.
Often, scammers impersonate the number they call you from, making it look like the government agency or bank is calling you, so you have to be proactive.
Whether it ’ s from your bank or a family member, anytime you get a call asking for money or personal information, go ahead and ask for a call back.
Create a secure password: A common tip is to craft a secure word that only you and your loved ones know, which you can ask them over the phone to confirm your identity.
In other words, you can negotiate in advance with your loved ones about a word or phrase that they can use to prove their true identity, if they are under duress.
Although calling back or checking through another means of communication is preferable, a safe word can be especially useful for young or elderly relatives who may otherwise be difficult to contact.
If you don ’ t have a safe word and are trying to figure out if the painful call is real, stop for a moment and ask a personal question that only the person you claim to be talking to knows the answer to.
Make sure that the question is specific enough that the fraudster cannot answer correctly with an educated guess.
Artificial intelligence tools can clone people ’ s voicesproducer.musicradiocreative.com
Understanding which voice to imitate: Deep voice cloning isn ’ t just for celebrities and politicians.
What people don ’ t realize is that by using at least 5 to 10 seconds of your voice, you may have put it on “TikTok or YouTube, ” you can easily create a copy of your voice.
Using AI tools, the outgoing voicemail message on your smartphone may be enough to replicate your voice as well.
Don ’ t give in to the emotional call: Whether it ’ s a scam or an AI-powered phone call, experienced scammers are able to build your trust in them and find your weaknesses.
So be wary of any interaction in which you feel too emotional; because the best scammers are not necessarily just the most skilled technical hackers, many of whom have a good understanding of human behavior.
If you take a moment to think about a situation and refrain from acting impulsively, this may be the moment to avoid being scammed.
Related News
Using Artificial Intelligence to Implement the Most Dangerous Voice Fraud
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What is necessary for voice cloning to work?

What is necessary for voice cloning to work?

What is necessary for voice cloning to work?

Voice cloning tools were once limited to experts but are now widely available online as free and paid services that require little technical skill to use.

Title:

Content: How Nigeria, Other African Countries Can Be Safe From Emerging Cyberthreats | Independent Newspaper Nigeria

How Nigeria, Other African Countries Can Be Safe From Emerging Cyberthreats

0 8

Global threat intelligence continues to grow as geopolitical and economic developments create an increasingly complicated and uncertain world for both businesses and consumers.

Threat actors continue to evolve with new players and threats emerging globally, in addition to novel ways of leveraging or executing older tactics and approaches.

Security experts should assume that no organisation or individual is truly safe from a cyberthreat and that there is an increasing urgency to monitor and research threats resurging and evolving at a rapid pace and scale.

According to Carlo Bolzonello, country lead for Trellix South Africa, “various countries around the world are looking to decouple from Western financial markets through moves like the expansion of the BRICS bloc and the de-dollarisation of their financial markets.

“As a result, Africa will play a more important role in resource-based economies and nation-states. Both allies and oppositions are increasingly interested in gaining leverage here through any data they can extract.”

Ransomware remains an ever-present plague for many organisations worldwide as these families increase in scale and sophistication – including coordinating and partnering with other threat actors through underground forums.

Socially engineered ploys to trick and deceive individuals into compromising their devices or personal information are becoming more cunning and targeted and, simultaneously, harder for both victims and security tools to catch and identify.

“The cyber landscape today is more complex than ever before,” says John Fokker, head of Threat Intelligence at Trellix Advanced Research Centre. “Cybercriminals from ransomware families to nation-state actors are getting smarter, quicker, and more coordinated in retooling their tactics to follow new schemes – and we don’t anticipate that changing in 2024.

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“To break away from escalating attacks and start outsmarting and outmanoeuvring threat actors, all industries need to embrace a cyberstrategy that is constantly vigilant, actionably comprehensible, and adaptable to new threats. That is how we can ensure a one-step lead over cybercriminals in the coming year.”

READ ALSO:  Political Parties Drag DSIEC To Court, Seeks Stay Of Action On Delta LG Polls

Cybersecurity experts and threat researchers from the Trellix Advanced Research Centre team have compiled their predictions for trends, tactics, and threats that organisations should keep top of mind as we approach 2024:

Recent advancements in AI have given rise to LLMs capable of generating human-like text. While LLMs exhibit remarkable technological potential for positive applications, their dual-use nature also makes them vulnerable to malicious exploitation. One significant security concern associated with LLMs lies in their potential misuse by cybercriminals for large-scale attacks.

Leading LLMs like GPT-4, Claude, and PaLM2 have achieved unparalleled capabilities in generating coherent text, answering intricate queries, problem-solving, coding, and numerous other natural language tasks. The availability and ease of use of these advanced LLMs have opened a new era for cybercriminals.

Unlike earlier, less sophisticated AI systems, today’s LLMs offer a potent and cost-effective tool for hackers, eliminating the need for extensive expertise, time, and resources. And this value has not been lost on the cybercriminal underground.

Setting up the infrastructure for large-scale phishing campaigns has become cheaper and more accessible – even for individuals with limited technical skills. Tools like FraudGPT and WormGPT are already prominent in cybercriminal networks. Popular darknet forums today often serve as platforms for the coordinated development of phishing emails, counterfeit webpages, as well as the creation of malware and vulnerabilities designed to evade detection to thousands of users already.

These LLM applications can assist in mitigating considerable challenges encountered by cybercriminals – and we expect the development and malicious usage of these tools to accelerate in 2024.

The internet is now filled with tools that use AI to make people’s lives easier – from creating presentations, generating voice notes, writing argumentative papers, and much more.

Many best-known tools like ChatGPT, Bard, or Perplexity AI come with security mechanisms to prevent them from writing malicious code. This is not the case for all AI tools available in the market, however, especially the ones being developed on the dark web.

It is only a matter of time until cybercriminals have access to an unrestricted generative AI, which can write malicious codes, create deepfake videos, and assist with social engineering schemes and more.

READ ALSO:  Several Injured In Church Suicide Bombing In Indonesia

This will make it easier than ever for unskilled actors to execute sophisticated attacks at scale. Furthermore, widespread leveraging of such tools to exploit vulnerabilities will make root cause analysis of attacks more challenging for defenders. We consider this to be an area to monitor carefully in 2024.

The rise of scams involving AI-generated voices are a concerning trend that is set to grow in the coming year, posing significant risks to individuals and organisations.

These scams often involve social engineering tactics where scammers use psychological manipulation techniques to deceive individuals into taking specific actions such as disclosing personal information or executing financial transactions. AI-generated voices play a crucial role in this as they can instill trust and urgency in victims making them more susceptible to manipulation.

Recent advancements in artificial intelligence have greatly improved the quality of AI-generated voices. They can now closely mimic human speech patterns and nuances making it increasingly difficult to differentiate between real and fake voices.

Furthermore, the accessibility and affordability of AI voice generation tools have democratised their use. Even individuals without technical expertise can easily employ these tools to create convincing artificial voices, empowering scammers.

Detecting AI-generated voices in realtime is a significant challenge, particularly for individuals who are not familiar with the technology. The increasing authenticity of AI voices makes it difficult for victims to distinguish between genuine and fraudulent communications.

Additionally, these scams are not limited by language barriers allowing scammers to target victims across diverse geographic regions and linguistic backgrounds.

Phishing and vishing attacks are both on the rise. It’s only a logical next step that as the technology for AI-generated voices improves, threat actors will leverage these applications with victims on live phone calls – impersonating legitimate entities to amplify the effectiveness of their scams.

As ransomware groups are primarily financially driven, it’s unsurprising to see them find new ways to extort their victims for more money and pressure them to pay the ransom.

READ ALSO:  Southern, Middle Belt Leaders Endorse Agbaje, Warn Against Attack On Igbos

It would not be surprising for the healthcare, social media, education, and SaaS industries to come further under fire in 2024 from these groups.

Cyberattacks, such as spear phishing and sophisticated impersonation, continue to use email as the main entry point because it can be highly customised and focuses on increased levels of successful exploitation.

The rise of QR code-based phishing campaigns represents an alarming trend. As our daily lives become increasingly reliant on digital interactions attackers are adapting their tactics to exploit new vulnerabilities. QR codes, originally designed for their convenience and efficiency, have become an enticing tool for cybercriminals to use as an attack vector.

One of the primary reasons behind the expected increase in QR code-focused phishing campaigns is their inherent trustworthiness. QR codes became essential in various aspects of daily life during the Covid-19 pandemic – from contactless payments to restaurant menus.

As a result, people have grown accustomed to scanning QR codes without much thought assuming they are safe. This sense of trust can be exploited by cybercriminals who embed malicious links or redirect victims to fake websites. We expect that QR codes will also be used to distribute widely recognised malware families.

The ease of QR code creation and distribution has lowered the barrier for entry into the world of phishing and malware distribution. Anyone can generate a QR code and embed malicious links within, making it a cost-effective and accessible method for cybercriminals to target victims.

Traditional email products often fail to detect these attacks which makes them an attractive option for cybercriminals today. As attackers continue to refine their tactics and craft convincing phishing lures, the potential for success in these campaigns will be on the rise.

To combat the growing threat of QR code-focused phishing, users must exercise caution when scanning codes – especially from unknown or suspicious sources.

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Described legitimate uses include entertainment, education, journalism, voice assistants, chatbots, navigation systems, accessibility for people with speech loss, and AI-driven virtual news anchors.

Title:

Content: Freedom Square (Beishe Review) Policy response strategy for artificial intelligence deep counterfeiting and voice copying technology
◎ Cai Yue Ting
Deep hypocrisy and voice copying are technologies that use artificial intelligence to generate fake or manipulative media that can be used for a variety of purposes, including entertainment, education, and journalism.
If it is abused for fraud and the dissemination of false information, it will damage the reputation and rights of the individual, and it will affect social order and national security.
Because there are major potential hazards, it is necessary to formulate relevant regulations and effective management, and it can promote the healthy development of this innovative industry.
Consolidating practice cases to standardize policy measures to manage deep counterfeiting and voice copying can go hand in hand with the following aspects:
I. Regulations:
The content of the bill should include: (1) clearly stipulate the legal and illegal use of deep counterfeiting and voice copying to protect personal and national security and rights; (2) establish effective enforcement mechanisms and regular amendments to ensure the effective implementation of the law and adapt to the rapid development of technology; (3) use ethics education and advocacy; and (4) specify appropriate punitive measures.
2. Technical supervision:
(1) Establish an effective enforcement mechanism, consisting of experts with professional knowledge and technical ability, to (1) supervise the development and application of deep counterfeiting and voice reproduction technology to ensure that the use of the technology complies with laws, regulations and ethical standards; (2) adhere to the principle of minimum intervention, and strike a balance between protecting personal privacy and preventing abuse; and (3) promote the sound development of the industry.
Restrictions on use: Restrictions on the use of deep counterfeiting and voice copying technologies, especially in sensitive areas such as finance, politics, law, and medicine, and where they may have a serious impact on personal privacy.
Transparency and Authentication: (1) Require developers and users of deep counterfeiting and voice copying technologies to provide transparency to ensure that users are informed and consent to the use of their data.
(2) Establish a certification mechanism to ensure that only accredited institutions and individuals can use these technologies.
(4) Technical research: Encourage research on deep counterfeiting and voice copying technologies, especially research on detecting and preventing abuse, and research on how to protect personal privacy.
Participation, use of ethics education and public awareness: to strengthen the education of the public and related industries, and to raise awareness of the potential risks of deep counterfeiting and voice copying technology.
Authorities should provide corresponding preventive measures and education and training.
The development of deep counterfeiting and voice reproduction technology has brought many potential risks, but it is also an integral part of the country ’ s sustainable development.
This industry requires the participation of multiple stakeholders, how to ensure that these technologies are used responsibly and ethically through legal, technical and educational means, and to minimize their potential hazards, to the rapid and vigorous development of the industry is a matter of urgency.
(The author is Deputy Secretary General of Beishe, Director of Research and Development of the Institute for Information Technology)
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Documents record malicious uses such as fraud, impersonation, and scams including AI-enhanced fake kidnapping calls and extortion schemes.

A cited real-world example is a late-2023 fake dental plan advertisement that used AI to create a video of Tom Hanks and drew public notice.

What are some risks regarding AI voice clning?

Detecting AI-generated voices in real time is described as a significant and growing technical challenge, especially as models improve and can operate across many languages.

What has the US Federal Trade Commission warned about the use of voice cloning tools?

Difficult to distinguish from human voice

The accessibility and affordability of voice generation tools have democratized their use and lowered the barrier for misuse by people without technical expertise.

What are some risks regarding AI voice clning?

What are some risks regarding AI voice clning?

Publicly available audio such as social media posts or voicemail greetings can be reused to create convincing voice clones.

What is necessary for voice cloning to work?

What is necessary for voice cloning to work?

Policy and legal recommendations include clearly defining legal and illegal uses, establishing enforcement mechanisms and penalties, and keeping laws updated as technology changes.

Documents also advise technical supervision, restrictions in sensitive sectors, transparency and consent requirements, certification for authorized use, and investment in detection research and ethics education.

Practical mitigations advised for individuals include setting shared code words or safe phrases, calling back via separate channels, tightening social media privacy, and avoiding impulsive actions on emotional calls.

Ethical concerns highlighted include harms to reputation and personal rights, risks to social order and national security, emotional and psychological impacts, and broader societal effects from creating virtual people.

Overall, the documents present voice cloning as a technology with useful applications and serious risks that require coordinated legal, technical, and educational responses.

What are some risks regarding AI voice clning?

What are some risks regarding AI voice clning?

What are some risks regarding AI voice clning?

Conclusion: Voice cloning is becoming highly realistic and easy to access; it offers genuine benefits but also poses serious scam, privacy, legal, and ethical risks, so regulation, detection research, and practical precautions (safe words, call-backs, privacy settings) are needed to reduce harm.


Milei campaigned as an anarcho-capitalist and promised to abolish the central bank and dollarize the economy.

He pledged steep spending cuts, to reduce the fiscal deficit, and to stop money‑printing that fuels inflation.

Early in office he issued decrees repealing or amending hundreds of laws to deregulate the economy and curb union power, but courts and the Senate blocked some measures.

He proposed privatizations and weakening of labor protections, proposals that spurred nationwide protests and strong union opposition.

Milei sought a reform bill to delegate lawmaking by decree during economic emergencies but lawmakers voted the measure down.

He announced a sharp peso devaluation of about half and has pursued a unified exchange rate while cutting interest rates.

The government has terminated public contracts of employees with under one year of service, raised utility and transport prices, and tightened crowd‑control powers for federal forces.

Politically, Milei lacks a congressional majority and faces resistance from governors and opposition parties, which constrains implementation.

Milei has launched an aggressive libertarian market‑oriented program focused on spending cuts, deregulation, privatization, devaluation/dollarization, and expanded executive powers, but institutional resistance, social protest, and economic risks limit its scope and cause significant short‑term disruption.

Milei campaigned as an anarcho-capitalist and promised to abolish the central bank and dollarize the economy.

Title:

Content: Argentina sees the light with Maverick Javier Milei – Ivo Vegter

In a surprising turn, libertarian firebrand Javier Milei secured Argentina’s presidency after a second-round victory against his left-wing rival. Vowing to end decades of socialist mismanagement, Milei, an outspoken economist, faces challenges in implementing radical reforms, including abolishing ministries and dollarising the economy. While hailed as the world’s first libertarian president, Milei’s uphill battle involves legislative opposition and managing economic pain amid promises of a freer, market-oriented Argentina. Skepticism remains, awaiting the true impact of his ambitious plans in a nation grappling with deep-rooted economic struggles.

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Argentinians see the light

By Ivo Vegter*

It took a second round of voting, but the libertarian Javier Milei has defeated his Peronist rival to become president of Argentina.

A month ago, Javier Milei unexpectedly lost the first round of the Argentinian general election to his left-wing Peronist rival, Sergio Massa, after the latter had cynically promised zero taxes as a way to bribe voters.

In my column on the lessons South Africa could draw from that election, I said: ‘Let’s hope Argentinians see the light before Massa and Milei face off in the run-off election.’

Happily, they did see the light.

After decades of economic malaise under a government that for most of the last 30 years has been socialist, corrupt, wasteful and incompetent, leaving Argentina eighth from last in the Fraser Institute’s Economic Freedom of the World Report 2023, they elected Milei, a libertarian firebrand, in the biggest landslide since Juan Perón’s election in 1973.

Milei becomes the first libertarian president, not only of Argentina, but in the world. The closest precedent that comes to mind is that of Calvin Coolidge, the small-government conservative president during the Roaring Twenties in the US, but Milei is far more radical than that.

‘“oday the reconstruction of Argentina begins’, he said, after winning 56% of the vote in the head-to-head race. That was also his first lie as president-elect, since he doesn’t actually take office until 10 December, but we’ll let that slide.

Radical

To describe Milei as radical would be putting it mildly. He has described the country’s ruling elite as thieves and the government as ‘a criminal organisation’. He has promised to abolish ten of the government’s 18 ministries. He said he would do away with the central bank and dollarise the Argentinian economy.

‘The model of decadence has come to an end’, he told his supporters. ‘There’s no going back. We have monumental problems ahead. Inflation, lack of work, and poverty’.

Milei is an accomplished economist, and largely follows the Austrian School of individualist free-market economics. He has variously described himself as an anarcho-capitalist and a minarchist (an anarchist who accepts the legitimacy of a small government dedicated to protecting life, liberty and property).

He has been extraordinarily outspoken on the evils of socialism and statism, and how they turned Argentina from a once-wealthy world power into an over-indebted, poverty-stricken, underdeveloped basket case.

Mainstream media

The mainstream media, with its largely left-leaning bias, has compared Milei to former presidents Donald Trump of the US and Jair Bolsonaro of Brazil.

‘Argentina set for sharp right turn as Trump-like radical wins presidency’, trumpeted the Washington Post

‘Argentina Elects Javier Milei in Victory for Far Right’ was the headline in the New York Times, which added: ‘Argentina’s next president is a libertarian economist whose brash style and embrace of conspiracy theories has parallels with those of Donald J. Trump.’

The ‘embrace of conspiracy theories’ is a particularly vicious jab. Readers would have to follow a link to find an explanation, and it turns out that the Times only referred to Milei’s allegations of polling irregularities, which have not been tested.

It is entirely plausible that Argentina’s electoral system is less secure than that of the United States, and that the incumbents – who went as far as abolishing taxes in order to engineer a win – might have been involved in some electoral skulduggery.

Allegations of election fraud are very common on all sides of the political spectrum, and do not, in and of themselves, rise to the level of the debunked claims of Trump, and his attempt to derail the orderly election of his rival.

Authoritarians

More importantly, both Bolsonaro and Trump are alt-right populists. They are moral authoritarians – not liberals – and appeal to collectivist – not individualist – principles such as nationalism and protectionism. They have often, rightly, been described as fascist, which is just as antithetical to libertarians as is left-wing socialism.

That both former presidents expressed their support for Milei has a lot more to do with shared anti-socialist positions than any real congruence in their political philosophy.

Milei has himself rejected the right-wing label, and indeed, his classical liberalism (for which ‘libertarian’ in the American sense is a synonym) does not yield to a simplistic left-right analysis. Rather, it falls on the liberal end of an authoritarian-liberal scale, and on the progressive end of a conservative-progressive scale.

Sour-grape-ish

Milei does have some views that are questionable, or traditionally associated with the conservative right, such as his anti-abortion stance and his rejection of climate alarmism.

Neither define him, however, and both are issues on which libertarians can and do disagree.

By similar logic, Milei’s promise not to dismantle Argentina’s extensive social welfare programmes does not make him some sort of left-winger.

In focusing on incidental agreements between Milei and leaders like Trump and Bolsonaro, and ignoring the fundamental philosophical differences between the former’s individualist, free-market, small-government ideas and the authoritarianism, nationalism, populism and protectionism of the latter, the media does both Milei and their readers a great disservice.

That a politician does not perfectly reflect all one’s personal political or moral views is in any case far less of a concern when that very politician proposes as far as possible to keep government out of people’s personal affairs and to leave most of the world’s problems to the private sector.

‘When your response to everything that is wrong with the world is to say, “There ought to be a law,” you are saying that you hold freedom very cheap’, said Thomas Sowell.

Moreover, it seems extraordinarily petty and sour-grape-ish to complain about a few differences of opinion with a candidate who promises radical change in a country that is mired in economic crisis, thanks to the policies of its incumbent rulers.

Music to the ears

Sniping from the mainstream press aside, the rise of a truly libertarian president in one of the world’s most economically unfree countries should be music to a classical liberal’s ears.

Who doesn’t want to radically slash the size of government? Who doesn’t question the inflationary monetary policy of highly indebted countries? Who doesn’t want to see free enterprise flourish, and witness the departure of a government that strangles business with red tape and taxes, and tries to pick winners by throwing subsidies at favoured companies?

On the face of it, this should be an excellent experiment to show whether the libertarian prescriptions for government do, indeed, produce a better outcome than the socialist quagmire in which Argentina has been stuck for so long.

Pain and gain

Practically speaking, however, there are reasons to remain skeptical.

First, we’ve only seen Milei’s talk, and not his walk.

Second, making drastic changes in the structure of a country’s government and economy, as Milei proposes, will be painful.

It is arguable that the short-term pain is justified by the long-term gain, but electorates are rarely forgiving to those who inflict necessary pain. Witness Margaret Thatcher, who saved Britain from the socialist economic malaise of the 1970s, but remains hated to this day by those who bore the brunt of her reforms.

Dollarising an economy does not produce immediate results, for example. It can take years before the stabilising effect of dollarisation filters through to low inflation rates. It can, however, immediately harm people and even increase poverty levels, depending on the exchange rate at which existing deposits are converted.

Drastically reducing the size of government will also face much immediate opposition, especially from civil servants who stand to lose their jobs.

Privatising healthcare, education or other government functions is also fraught with transition difficulties. Much depends on exactly how such privatisation is carried out. It can fail, and even if the eventual outcome is a success, it could cause years of disruptions and dissatisfaction.

Then there are the entrenched patronage networks of the incumbent socialist government, who will be highly upset – and fight back vigorously – when the taps of corrupt fiscal spending get turned off.

Finally, few voters have the patience to wait five or ten years for radical free-market reforms to have a positive impact, and Argentina’s president only serves a four-year term before facing the electorate again.

Legislative opposition

A further obstacle to Milei’s reforms is that he will not be the philosopher-king of every libertarian’s dreams. He will not be a dictator.

He will simply be the head of the executive in a constitutional parliamentary democracy, with strictly circumscribed powers.

And the elections did not result in a similar landslide in the legislature.

Argentina has a 72-seat Senate, or upper house, and a 257-seat Chamber of Deputies, or lower house. Together, they make up the Argentinian National Congress.

In both houses, Milei’s libertarian coalition, Liberty Advances (La Libertad Avanza, or LLA) took more seats from the conservative coalition, Together for Change (Juntos por el Cambio, or JxC), than from the socialist Peronista coalition, Union for the Homeland (Unión por la Patria, or UxP).

In the Senate, this leaves the Peronistas as the largest coalition, with 32 seats. It would need 37 seats to command an outright majority. The conservative coalition, JxC, retains only 27 seats. As the third-largest party in the Senate, Milei’s LLA only has six seats, which even in coalition with the conservatives is not enough for an outright majority.

In the lower house, the picture is similar. UxP has 104 out of 257 seats, JxC has 93, and LLA has 38. The only difference is that here, a JxC and LLA coalition can command a simple majority.

This leaves Milei at the mercy first of the conservatives, who would welcome market-oriented reforms and a departure from socialism, but by their very nature would be reluctant to endorse Milei’s more radical, disruptive proposals. Once Milei has cleared that hurdle, he needs to gather a majority in the upper house, which will be even harder.

Argentina is also heavily indebted, including to the International Monetary Fund, and creditors are likely to have a say in how the country is run. Anything that scares them will raise the cost of credit, which Argentina can ill afford.

Wait and see

Once the initial euphoria of seeing a true libertarian in power has cleared, then, we are left with the sobering realisation that Milei may not be able to achieve anywhere near as much as he has promised.

Turning failing countries around is not for the faint-hearted, and it always comes with social upheaval and economic pain.

Even if Milei gets the good ship Argentina pointed in the right direction again, the prevailing winds and currents may still dash it – and its captain – upon the rocks.

Read also:

*Ivo Vegter is a freelance journalist, columnist and speaker who loves debunking myths and misconceptions, and addresses topics from the perspective of individual liberty and free markets.

This article was first published by Daily Friend and is republished with permission

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Title:

Content: Argentina election: Javier Milei's radical proposals face test of reality

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Javier Milei, the anti-establishment politician who cruised to victory in the Argentine presidential election last week, has courted intense controversy with radical, provocative policy proposals and statements.

This led many detractors of the self-styled "anarcho-capitalist" to call his candidacy a "leap into the void".

Now, with the mop-haired president-elect only two weeks away from taking over Latin America's third-largest economy, many are asking, how will his policies and positions face the test of reality?

Taming inflation takes time

Javier Milei had proposed to dollarise the economy and eliminate the Argentine Central Bank as a strategy to "kill" hyper-inflation. This meant making the US dollar the national currency in place of the Argentine peso, whose value, Mr Milei said, had been "melting like blocks of ice in the Sahara".

One obstacle is that ditching the Central Bank and making the US dollar legal tender would need approval from the Argentina's Congress and could even require changing the constitution.

Although Mr Milei convincingly won the presidency, his Libertad Avanza (Freedom Advances) movement is barely the third largest political force in Congress. This suggests difficult negotiations might be in store.

Some economists have also questioned whether Mr Milei's plans are feasible, saying they would weaken his government's ability to manage domestic monetary policy.

Having the US dollar as the Argentine currency would effectively leave interest rate policy in the hands of the US Federal Reserve. Argentina's economy would be more vulnerable to external shocks involving the US dollar, for example sudden rises in prices for oil and fuel imports, which could make internal adjustments even more painful inside the country.

Sceptics also point out that Argentina would need to have in hand the US dollars to replace the pesos. Experts believe this could require anywhere between US $35bn to $50bn which indebted Argentina currently does not have and may not be able to borrow easily.

Mr Milei himself has admitted his "shock adjustment" economic stabilisation recipe could actually take up to two years to bring down inflation. "Saying anything else is lying," he said.

A climate sceptic?

Another topic that had made media headlines was Mr Milei's apparent declaration of himself as a climate change "sceptic", that is, someone who denies the role of humans in global warming.

"I do not deny climate change. What I am saying is that there is a temperature cycle in the history of the Earth... Therefore, all those policies that blame humans for climate change are false," Mr Milei said during a presidential debate last month, causing much commentary and criticism.

In his proposed government programme, one of the numerous ministries he had said he planned to axe would be the existing environment ministry.

Such apparent climate scepticism risked putting Mr Milei sharply out of tune with an international majority of governments and leaders who plan to gather at the COP28 climate conference in Dubai soon to seek urgent solutions to the problems of climate change and global warming.

Pragmatism and the Pope

Before he was elected, Mr Milei virulently attacked Argentine Pope Francis, calling him a "Jesuit who promotes communism", and even the "representative of the evil one [the Devil] on Earth".

Such statements caused frictions with the local Catholic Church and the Vatican.

However, this antagonism appeared to miraculously dissipate only days after his election win, when Mr Milei had what he called a "very friendly" phone call with the Pope, whom he addressed as "Your Holiness", inviting him to visit Argentina in 2024.

Asked in a TV interview about this change of heart, Mr Milei conceded that, when one is president, "there are some things that require greater doses of pragmatism".

No break with China and Brazil

Before his election, Milei had signalled he could freeze ties with Brazil and China, Argentina's two top trading partners, on the grounds that he did "not make pacts with communists".

"I am going to be aligned with the United States, Israel, and the free world," he said.

Not surprisingly, this assertion caused consternation in Beijing and Brasilia, as well as in Argentina.

A Chinese foreign ministry spokesperson was quoted as warning that it would be a "huge foreign policy mistake" for Argentina to cut ties with countries such as China and Brazil.

Mr Milei's predecessor, outgoing left-wing President Alberto Fernández, had carefully nurtured ties with Beijing and had welcomed an invitation to join Brics, the China-led group which also comprises Brazil, Russia, India, and South Africa.

Experts questioned the wisdom of dismantling a relationship that clearly brought benefits to Argentina, and not only by China being a top market for Argentina's soybean, meat and grains.

China was also helping to prop up Argentina's financial reserves with a major currency swap deal - significant support for a country already heavily indebted to the International Monetary Fund (IMF).

Days after the election, however, there seemed to be clear signs that no major break in relations was planned. The president-elect received a personal letter of "congratulations and good wishes" from Chinese President Xi Jinping and Mr Milei himself made a point of thanking Xi on social media.

Mr Milei's pick for foreign minister, Diana Mondino, also dismissed as "nonsense" any suggestion that there would be a rupture in "commercial relations" with China or Brazil.

In Brazil, Mr Milei's invitation for former President Jair Bolsonaro to attend his 10 December inauguration was interpreted as "unfriendly" towards Brazil's current left-wing President Luiz Inácio Lula da Silva.

But Milei has since said Lula would be "well-received", if he wanted to come.

Dictatorship denial

Mr Milei and his vice-presidential running-mate Victoria Villarruel also ignited intense controversy during the campaign with their position regarding Argentina's 1976-83 military dictatorship.

Defying traditional positions held by Argentina's government and society for the last 40 years, Mr Milei caused outrage by contesting the generally accepted estimate of those abducted and "disappeared" in the dictatorship - 30,000 - asserting the actual number was closer to 9,000.

The candidate argued that the political violence of the 1970s in Argentina was a two-sided "war" in which "the forces of the state committed excesses but the terrorists [anti-government guerrillas] ... [also] committed crimes against humanity".

This equivalence of presentation of the two sides raised howls of protest from groups like the Plaza de Mayo mothers and grandmothers of disappeared persons.

This was just another striking way in which the Milei-Villarruel duo were trying to shake up the political status quo in Argentina. The next four years will show if they can do it.

Title:

Content: Overview:

Argentina's latest presidential election offers plenty of sensational fodder for the presses. But there's a deeper issue here, a politics of desperation, that we would do well to watch as it rises in the world.

Reading Time: 6 minutes

On November 19, Argentina elected Javier Milei as its next president, to take office this December. His politics have been compared to those of Donald Trump (in his showmanship) and Jair Bolsonaro (in his rightwing extremism and denialism), but his ideas go further than both. Milei calls himself an anarcho-capitalist (a form of libertarian), whose stated aims are “blowing up” the central bank, changing the Argentinian peso for the dollar, permitting the private sale of human organs, and closing ministries for education, health, women, and culture while slashing welfare payments.

Milei has also been called a “minarchist” for his minimal-government belief that the state’s only purpose is to protect citizens’ rights to free action. To this end, proposed bans on abortion and loosened gun laws run in lockstep with his acceptance of trans identities and desire to legalize more drugs. He denies the scale of Argentina’s brutal history of state terror in 1976 to 1983, and when he first rose in the polls, there was a panicked rush among citizens to change their pesos for dollars, fearing economic disaster.

So why did he win?

And not just by a hair, but with 56% of the vote against his runoff opponent, Sergei Massa?

The historical underpinnings run deep, but human behavior in response to the current economic moment is also not complex. Urban poverty hit 40.1% in 2023, as inflation reached 50.7% earlier this year. When the official exchange rate was devalued by 22% the day after the primaries (in which Milei’s popularity caused panic), it caused a 12.4% inflation spike. This is in an enconomy where some 48.1% are informally or self-employed, and thus without salaried protections against the greatest financial hits.

An outsider expecting rational economic actors might assume that if Milei’s presence in the polls only destabilized an already precarious situation, surely humans would avoid voting for him again. But the logic of longstanding financial stress runs deeper than traditional economic configurations of the “rational actor”: when there is no confidence in existing state structures, perhaps it is best to pull off the bandaid quickly. The immediate pain will be hard, but maybe, just maybe, the destruction of the old order will bring about something new.

This is the politics of desperation and disillusionment.

The world would do well to pay attention to its rise.

Argentinian histories of low confidence in the state

There’s a famous, apocryphal, and above all cruel expression in economics: “There have only been four types of economies in the world: advanced, developing, Japan, and Argentina.” The point driven at here is that Japan seemed to rise from the ashes, with everything working against it, after World War II and even now with an aging workforce. Meanwhile Argentina, a country with a natural bounty, seemed to destroy confidence in itself at every turn.

This is a cruel expression for a few reasons: one being that Argentina is not alone even in South America, as a country with great internal resources that has struggled to turn its holdings into wealth for its citizens. Another reason is the why. While Japan recovered from WWII by growing a commercial empire through top-down industrial relationships with surrounding countries, Argentina under labor-nationalist Juan Domingo Perón had the audacity in the 1950s to try to nationalize its British-owned railways. This choice met with swift reprisal from Western powers, thereafter unwilling to invest. Before World War II, Argentina had relied heavily on military rule. After inflation spiked and labor strikes surged as global investors pulled out, it was back to decades of fraught authoritarianism.

One of the worst coups started with a 600 percent inflation surge in 1976. That seven-year period yielded up to 30,000 disappeared human beings during the state’s “Dirty War” against leftists, and ended only after the military attempted to take the Falkland Islands from the British. This failure would yield the modern democratic state, but with a low opinion of both the military and the bureaucracy. In 1989, ahead of a massive inflation crisis of up to 4,900 percent, only 30,000 out of 30 million citizens were paying income taxes.

Now, inflation can address domestic debt, but Argentina’s massive fiscal deficit was informed centrally by external debt, in dollars to the rest of the world. During the banking crisis of 1990, banks forced client deposits into bonds under the BONEX Plan, essentially taking citizens’ savings from them with a promise that their investment in the future of the country would pay off. Citizens were not happy about this, of course.

The government then introduced the Convertibility Plan in 1991, which tried to peg the Argentinian peso to the US dollar at a 1:1 rate. This process involved Argentina embracing US neoliberal state policies: relaxing labor protections, massively privatizing industries, and otherwise bringing the world back into Argentinian markets. Did the plan reduce inflation? Yes. It also raised unemployment, reduced wages, and stratified class outcomes. And it led to more austerity measures over time, because the government’s debt kept rising, forcing more of the annual budget into “debt servicing” to other countries.

Being open to world markets also meant being more vulnerable to their downturns, such as a major wobble in 2001, which sparked labor collapse and food riots in Argentina despite its local wealth of grain and beef. The peso was unpegged in 2002, after the government had restricted bank withdrawals to keep citizens from “financial flight” into other currencies and markets. Once the peso was floating freely, though, people panicked anyway. After years of seeing the dollar as the more valuable and stable currency, they rushed to exchange their holdings (which were now all in pesos) back into US dollars by other means. That rush caused another inflationary spike.

Argentina underwent two major debt restructuring deals in that decade, but they just created more problems. A deal in 2001 allowed Argentina to pay interest only to those who had opted in to the restructuring plan, and the exclusion of “holdouts” was reasserted after 2010, when the debt plan was agreed upon by 93% of bondholders. The remaining 7% weren’t having this, though: a few hedge fund creditors sued the Argentinian government for breach of a principle of equal treatment for bondholders, pari passu. The South District Court of New York agreed with them, and even though Argentina tried to continue paying its “holdin” creditors, as per the debt restructuring plan, those payments were not permitted until Argentina paid the holdouts, too, in compliance with the court’s rulings.

Argentina was forced into a massive default in 2014. And again in 2020. And this year, analysts believe it’s on track for another soon.

Why? Because Argentina’s banking system isn’t an independent force. It is yoked to a highly litigious set of international players, and vulnerable to every global market crash as well.

Seen this way, why wouldn’t the average Argentinian want to bring it down?

Dollarization and other flawed promises

The complex problem for Argentinians voting out of desperation is twofold:

For one, as much as they might associate the days of the dollar with a period of relative stability, it was never a simple matter of pegging one currency to another. The arrangement expressly came with Argentina’s willingness to embrace neoliberal policies that yielded stark divides in civilian life and other market outcomes. For Milei to “dollarize” the country now would require a similar willingness to play ball with international institutions and their policy demands. The moment the peso is eliminated, by being exchanged in its entirety for dollars, Argentina cedes a great deal of financial policy to external players.

And yet, that is precisely the issue currently plaguing Argentina’s banks.

But also, not just Argentina, despite the glibness of the apocryphal economics saying.

The problems of our global financial system are serious enough that they will require a much more holistic reckoning with the consequences of fifty years of neoliberal policy. In July, a UN joint commission released “Soaring Debt Threatens Global Prosperity”, a report that highlights the staggering rates of debt servicing endured by 40% of the developing world. If these debts were simply between states, that would be one matter, more easily resolved; but the hyper-privatized yet undertaxed nature of our global economy has the vast majority of these countries forced into austerity measures to pay off complex debts to groups like the hedge fund creditors who pushed Argentina into default in 2014.

In other words, this will keep happening until we develop policies that can offset the private-investment predation currently facing many countries in precarity.

The second problem is one that Colombia also experienced this past year, when many on both the left (with excitement) and the right (with trepidation) expected the first leftist president to bring about dramatic reforms: Milei is just one person in his government. Just as Gustavo Petro found himself embroiled in parliamentary quarrels between competing groups, so too does Milei’s victory not come with the resounding legislative presence needed to steamroll all his grand plans into operation. He, too, is going to have to negotiate.

In practice, this means that Argentinians currently thrilled by the possibility of change are again going to meet with disillusionment. Either Milei will pull off his dollarization, and they will learn that this move makes the country no less vulnerable to global shocks and creditors, or he won’t, and amid his interim achievement of “easier” goals (e.g., the demolition of whole ministries), Argentinians will experience socioeconomic shocks that again bring them to the streets in protest… or else to live, having nowhere else to go.

GLOBAL HUMANIST SHOPTALK M L Clark is a Canadian writer by birth, now based in Medellín, Colombia, who publishes speculative fiction and humanist essays with a focus on imagining a more just world.

He pledged steep spending cuts, to reduce the fiscal deficit, and to stop money‑printing that fuels inflation.

Title:

Content: Argentine President Pledges Economic Reform in a Passionate Speech to Congress | Deutsche Welle Introduces Germany | DW | 02.03.2024
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The political climate of the times
Argentine President vows to push for economic reform
In a speech to the National Assembly on Friday, Argentina's new president, Miguel Millay, vowed to continue to push for economic reform, whether or not he has the support of the National Assembly.
He said that if the economic model is not transformed, "Argentina has no future."
Milley told lawmakers he would continue to push through reforms with or without congressional support.
Argentina ’ s new liberal president, Javier Milei, delivered a passionate speech to Congress on Friday (March 1).
He said he "will continue to push" for economic reform.
The Argentine leader, who describes himself as an "anarcho-capitalist," promised to slash state spending and reduce the government's fiscal deficit.
“We ’ re going to completely change this country. ”
Millet told lawmakers that he would continue to push ahead with reforms, whether or not he had the support of Congress.
He said "we will not back down, we will continue to move forward...
Whether it is through laws, presidential decrees or amending regulations, "he added," We will change this country forever...
with or without the support of political leaders, with or without all the legal resources of the executive branch ".
"I ask for patience and trust... It will take a while for us to see the results of the economic restructuring and the reforms that are being implemented," he added.
If the economic model does not change, "Argentina has no future"
Millay said he would introduce a bill that would penalize anyone — including the president — who financed the deficit by issuing additional money.
When he takes office, Mile will devalue the peso by about half.
"If we don't fundamentally change the economic model, then Argentina has no future," he said.
How will Argentina choose between China and the EU?
Milley's speech was repeatedly interrupted by cheers from supporters, who told Congress they would face "another animal" if they opposed his reform efforts.
Miley's Shock Therapy
After taking office in December last year, Millet issued decrees repealing or amending hundreds of laws aimed at curtailing the power of trade unions and deregulating state interference in the economy.
However, his claims met with resistance, and the court issued a ruling halting these measures.
Miller proposed a comprehensive reform plan, seeking to privatize state-owned entities and weaken labor protection.
The bill was voted down by lawmakers last month.
It includes the power to delegate to the executive branch for one year and the power to pass laws by decree on the basis of "economic emergencies".
Millet ’ s shock economic measures boosted the market, but sparked nationwide protests and strong opposition from labor unions.
Trade unions say the reforms will hurt the poor.
Despite his harsh words to lawmakers, the Argentine president struck a more conciliatory tone in his interactions with governors, proposing a 10-point “social contract ” agreed by May 25 that includes a“ rediscussion ” of the current tax distribution between the federal government and provincial governors.
Mire and the provincial governors have also been at loggerheads over the issue of funding cuts.
This week, when the governor threatened to cut off energy supplies to the rest of Argentina due to a funding dispute, the dispute heated up.
(Reuters, Associated Press, Agence France-Presse)
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Any misconduct will lead to recovery and criminal prosecution.

Title:

Content: Milei Experiment

In the tangled web of Argentine politics and economics, one figure has emerged as both a lightning rod for controversy and a beacon of hope ~ President Javier Milei.

In the tangled web of Argentine politics and economics, one figure has emerged as both a lightning rod for controversy and a beacon of hope ~ President Javier Milei. His first 100 days in office have been marked by a whirlwind of fiscal manoeuvres, bold policy shifts, and commitment to economic reform. But as Argentina teeters on the edge of uncertainty, Mr Milei’s ambitious agenda raises questions even it offers solutions. At the heart of Mr Milei’s strategy lies a radical departure from conventional wisdom.

Brandishing a chainsaw as a symbol of fiscal austerity, he has pledged to slash spending and achieve a budget surplus, a feat unheard of in a country plagued by decades of fiscal mismanagement. His unorthodox approach has garnered both praise and scepticism, as Argentines grapple with the harsh realities of rising poverty and economic contraction. The cornerstone of Mr Milei’s economic vision is the elimination of money-printing and the pursuit of a unified exchange rate. By devaluing the peso and cutting interest rates, he aims to rein in inflation and restore confidence in the economy.

Yet the path to stability is fraught with pitfalls, as the spectre of recession looms large and investors remain wary of the government’s opaque monetary policies. While Mr Milei’s commitment to reform is commendable, his political isolation poses a significant obstacle to meaningful change. With little support in the Argentine Congress and a fragmented coalition, he faces an uphill battle. The recent defeat of a sprawling omnibus bill highlights the challenges ahead, as competing interests and entrenched political factions threaten to derail Mr Milei’s ambitions. Moreover, the uncertainty surrounding Argentina’s future monetary regime adds another layer of complexity to the equation. Will Mr Milei pivot towards dollarization or pursue a more gradual approach to currency reform? The lack of clarity on this front only serves to fuel investor anxieties and exacerbate economic volatility. Amidst these challenges, Mr Milei’s fate hangs in the balance. How much economic pain can Argentines endure before turning on their unconventional leader? And can Mr Milei muster the political support needed to navigate the treacherous waters of Argentine politics?

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In the end, the trajectory of Mr Milei’s presidency hinges on the delicate balance between economic resilience and political manoeuvring. Should he manage to maintain public support and secure crucial alliances, Mr Milei could emerge as a formidable force in next year’s mid-term elections. However, any slip in popularity could spell disaster for his ambitious agenda, opening the door for his adversaries to dismantle his presidency. Whether Mr Milei’s gamble will pay off remains to be seen. But one thing is certain. In a country accustomed to political upheaval and economic turmoil, the journey towards reform is bound to be fraught with uncertainty and adversity. Only time will tell whether Mr Milei’s vision for Argentina’s future will lead to prosperity or further hardship

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What economic issue did Milei want to address?

What issue did Milei want to address without printing money?

What economic issue did Milei want to address?

What issue did Milei want to address without printing money?

Early in office he issued decrees repealing or amending hundreds of laws to deregulate the economy and curb union power, but courts and the Senate blocked some measures.

Title:

Content: Javier Milei against democracy

Argentines must be patient since Javier Milei can only rely on them, not on all those supposed representatives of the people.

The Argentine president suffered a setback again after the Senate rejected the mega-decree to deregulate the country. However, for the package aimed at removing the suffocating state bureaucracy to be effectively rejected, it would also have to be rejected by the Chamber of Deputies.

As expected, the libertarian targeted the senators who voted against the decree, who were not only Peronists of various currents but also some radicals.

"Let the political class decide which side of history they want to be on," said the president. He added that it is an attempt to undermine the so-called May Pact, an agreement that Javier Milei seeks to reach with the governors of the provinces and the mayor of the city of Buenos Aires so that economic freedom reigns in Argentina instead of socialism, which has destroyed the country's economy and isolated it from the world.

Milei knew that rectifying the economy would not be a walk in the park since, although he is president, his party does not have a governor, a mayor, or a majority in any chamber. This is all amid a tough but necessary adjustment to settle the country's accounts and allow it to grow again. Therefore, if it had not been for the support of the citizens, it would surely have fallen by now.

The president, a complete outsider, must have a "political waist" to reach consensus. That is, he must enter the thick, contaminated and cumbersome mud of Argentine democracy in order to implement his plan.

But who makes up this democracy that they ask so much to respect? With whom do they ask you to reach a consensus? Well, with the same ones who have trampled on the constitution, the forms, the division of powers, etc. Those who went for everything without respecting absolutely anything today whiningly ask to be taken into account when making decisions. However, if any of the measures are effectively unconstitutional, it is not something that a legislator should decide since that is what the Supreme Court is for, right?

Javier Milei has to fight against all who make up this democracy, go through the impassable swamp that the Argentine bureaucracy represents, and that many need him to continue, even if that means hyperinflation, misery, unemployment, crime, etc. We could say that the ideal slogan for socialism would be "the worse, the better." In this way, they have the perfect excuse to intervene in the economy and in the lives of everyone in order to maintain the power and business of politics. That is, they want a country of militants, not workers. A country of officials who "love" the poor but not enough to lift them out of poverty. A country where resentment is more important than self-improvement,  where restrictions are more important than freedom and crime is justified and success demonized.

In the government, there is now an honest man who makes mistakes, whose ways are, at times, questionable, but who sincerely wants to fix the country. Who is a great economist and was able to predict with impressive success all the disasters that were coming to Argentina in previous administrations. Who has enough courage to confront the interventionist dinosaurs who seek to repeat failure, using democracy or the constitution as an excuse when it suits them, despite the fact that the majority of the supposed representatives of the people are the same ones who stand in the way of the president carrying out the changes that the majority of Argentines voted for. What democracy are they talking about?

Javier Milei, with his mistakes and successes, is on the side of the free world at a global level. He is cleansing the State of wasteful militants, reducing spending and stopping emissions. He is trying to repeal laws that have been resounding failures while being mercilessly attacked by the press, by opposition politicians who are actually coup plotters, by artists and leftist militants who only seek to continue parasitizing.

Argentines must understand that if the economic improvement takes longer than desired, it is because the dinosaurs that make up this democracy are muddying the playing field, so progress cannot be made, and they have to go back.

Argentines must be patient since Milei can only rely on them, not on all those supposed representatives of the people. The solution may take a while, but don't let it fail. This government is the last hope for Argentina. Do not miss such an opportunity, which may occur only once in history.

How will Milei's reforms impact workers?

How will Milei's reforms impact workers?

He proposed privatizations and weakening of labor protections, proposals that spurred nationwide protests and strong union opposition.

Title:

Content: Streets of Argentina Ablaze with Dissent as Milei’s Controversial Reforms Ignite Outrage

In a stunning turn of events, Argentina has become a battleground for public discontent following President Javier Milei’s introduction of a series of controversial proposals. Thousands of Argentinians have taken to the streets, enraged by the president’s push for drastic cuts to public spending.

Milei’s latest measures, unveiled on Wednesday evening, aim to revolutionize Argentina’s struggling economy through a variety of initiatives. These include deregulating the government and opening up state-run industries for privatization in order to spur both exports and investment.

However, the people’s outrage has manifested in widespread protests, often met with a heavy police presence. Gathering in front of the Argentine Congress, hundreds of demonstrators made their opposition to Milei’s proposals known.

Undeterred by the dissent, Milei appeared on national television to defend his agenda and offer reassurances of a prosperous future. He asserted, “Our objective is to rebuild our nation, restore individual freedom and autonomy, and dismantle the myriad of regulations that have impeded our economic growth for far too long.”

Acknowledging the mounting protests, Milei’s security minister, Patricia Bullrich, announced new measures aimed at maintaining public order. These measures grant federal forces the power to disperse protesters blocking streets without requiring a judicial order, and authorize the police to use video or digital evidence to identify and hold accountable those obstructing public thoroughfares. Moreover, the legislation empowers the state to apportion the costs of mobilizing security forces to the protesters themselves.

Milei’s presidential victory was built upon a campaign centered around reducing public spending. Since assuming office, he has already made significant changes to the country’s financial landscape. The value of the Argentinian currency has been adjusted, contracts of public employees with less than one year of service have been terminated, and the prices of basic services and public transportation have seen notable increases.

FAQ:

Q: What are President Milei’s proposals?

A: President Milei’s proposals include deregulating the government and allowing the privatization of state-run industries to boost exports and investment.

Q: Why are Argentinians protesting?

A: Thousands of Argentinians are protesting against Milei’s proposals due to their belief that the drastic cuts to public spending will adversely impact their lives.

Q: How is the government responding to the protests?

A: In response to the protests, the government has announced new measures to maintain public order, empowering federal forces to disperse protesters without a judicial order and enabling the identification of those obstructing public thoroughfares through video or digital means.

Q: What changes has Milei already implemented?

A: Since taking office, Milei has adjusted the value of the Argentinian currency, terminated contracts of public employees with less than one year of service, and increased the prices of basic services and public transportation.

(Sources: Information gathered from local news outlets)

How will Milei's reforms impact workers?

Who has opposed Milei's proposed layoff order?

How will Milei's reforms impact workers?

Who has opposed Milei's proposed layoff order?

Milei sought a reform bill to delegate lawmaking by decree during economic emergencies but lawmakers voted the measure down.

He announced a sharp peso devaluation of about half and has pursued a unified exchange rate while cutting interest rates.

What economic issue did Milei want to address?

What economic issue did Milei want to address?

The government has terminated public contracts of employees with under one year of service, raised utility and transport prices, and tightened crowd‑control powers for federal forces.

How will Milei's reforms impact workers?

Politically, Milei lacks a congressional majority and faces resistance from governors and opposition parties, which constrains implementation.

Who has opposed Milei's proposed layoff order?

Who has opposed Milei's proposed layoff order?

Milei has launched an aggressive libertarian market‑oriented program focused on spending cuts, deregulation, privatization, devaluation/dollarization, and expanded executive powers, but institutional resistance, social protest, and economic risks limit its scope and cause significant short‑term disruption.