They say this is money. Charting the peso as it follows Venezuela
A picture is better than a chart.
These are Argentine $500 and $1000 notes. They spend exactly like the $50 and $100 notes used to only 3 years ago. I will be giving you both the pictures and the chart. This post is about the inflation, collapse, new currency cycle they always pull on us. Watch Argentina, the dollar is not too big to fail - you are next greenback!
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Back then, I was paying $2.70 per liter of milk and about $400 for a week's worth of groceries.
Now it is 10X - about $27.00 for a liter of milk and about $4000 for the same week's worth of groceries.
The result is counting more pieces of paper
Imagine counting 40 of those one dollar bills. Nothing larger exists. That is the way it was here a year ago. Larger bills are still hard to find. I have sold 1 bitcoin for 400 bits of paper (each saying 100). Now, if I sell anything at all, I ask if they will pay in dollars or pesos? What denomination? I have to know what size backpack to bring!
So we have bigger bills now coming available and they continue to demonetize the smaller ones (yawn) over, and over, again.... The cycle repeats. see the bottom for the latest casualty
The Manipulation
Every day I write down the current price of the blue dollar. The dollar doesn't get more expensive but we have to count more pesos to get a dollar. See for yourself.
Currently $21.00 for a dollar. That Crisp $1000 gets you u$s47.62
About a year and a half ago was when Venezuela first printed a 500 bolivar note. Today, you cannot even get anyone to take a 20,000 note for free. They are just worth less, they are worthless. Where will Argentina be next week, month, January 2019?
See on the books/at the bank purchases (green), and black market (blue).
The above chart shows Friday's close for the dollar to peso rate. In the past I watched as the price of a dollar bounced off of an imaginary $10 ceiling over and over until it broke through. It broke through the $20 mark on Feb. 2018 and now seems as though it is being magically tapped down as nail every time it hits $21. The peso's lack of value seems to be pushing harder and harder to get through $21 per. One would have to assume there is manipulation.
Sure to continue. Seen it before.
The peso is sure to climb and I know they have the designs for the $5000, $10,000 and $20,000 notes already to go.
Government, it doesn't matter where, is so predictable when they keep using the same play book! We are the ones that keep believing the lie - insanity!
RIP : Bartelomie Mitre
You can no longer be spent.
Rotate left if you think it is leaning. All pictures taken or captured by me.
I don't remember when the cheeta or the bird was the president?
Good one! I should make a meme about president Cheetos was the leader.
After the four day Labor Day holiday, it broke through and popped as suspected. I thought I would post this chart here where it can be seen, related to, my post.
La última vez que he estado en Argentina gastando había cobrado mi sueldo de liquidación con muchos papeles verdes (Recientes es ese momento) como Siempre cuando salen billetes nuevos o monedas nuevas queremos coleccionarlos (como en el caso de las monedas de 1 peso hace varios años atras). Creo que en algún lugar aún tengo una colección de las monedas lanzadas por el mundial de "Argentina mundial '78" Es una colección de monedas en honosr al mundial de futbol del año 1978, Yo nací en el '82 pero no se como las tenía.
Hoy esas monedas valen mucho mas que un papel verde!!!. Muy bueno tu post!
Y los de bicentenario! Estoy armando una colleccion aunque chica.
Now it is 10X - about $27.00 for a liter of milk and about $4000 for the same week's worth of groceries.
Man this is really insane, this much of hike, the economy is collapsing day by day I think, I think government should take serious steps to control this inflammation. If it continues the economy of the nation will collapse soon.
government is not going to do anything
decentralization is only solution
exactly man, government is just for showoff, the authorities also don't do anything, they just sit and earn their daily wages, only poor persons suffer
bearigodyuk, lazmaya lyaath, chotul, myoon vote kraan use
It is so dreadful that already have the 5k, 10k ready to go. Its creepy, i know those things i come from Venezuela, when that rally starts nothing stops it.
All fiat currency is doomed to the same outcome, and the USD will be no exception to this rule. The good thing is most of humanity is waking up to the con that bankers and politicians have been pulling for centuries!
Great post thanks for sharing keep it up
this post is simply amazing man
Very good post @sponge-bob, your post is very useful for everyone. Because it can be a new science for all of us. With the steemit, I get a lot of new knowledge from other people. Because in steemit we can be friends and can share for everyone in the world. So we can add new insights, and be able to know the developments in other people's countries. Thanks for sharing, and hopefully you will be more successful to work... :)
My success has nothing to do with paper money. I only obtain paper when I am purchasing something, so I don't really own it long enough for it to drop in value.
success is very difficult to achieve. because it all takes a very big struggle. Thank you very much for these very useful words @bytzz.
I agree @bytzz - I could not have said it better. I hold metals and crypto only.
Thank you for your support @reynakarina - we are sharing for the whole world.
Thanks again @sponge-bob, for sharing this very helpful post. I really hope someday I can also succeed like you in work in steemit.
This is one of the main reasons why we need to institute crypto as a form of world currency. Then and only then will we the people have the power to decide the value of the coins or tokens we are transacting.
Key word WE need to institute a decentralized crypto to go worldwide. That is being done my friend. But there are also centralized coins that people are just grabbing up. Not good. Centralized coins are no better than the paper rectangles we count out to pay for things. Worthless (eventually)
Great insight. Sadly, until we stop converting our crypto profits back into fiat, the elite will always have control over us. We need to start promoting the concept of using crypto to buy goods and services. Once we start to doing that, watch the value of centralized currencies drop to zero!
Thanks u sharing a great article and good information so good luck my dear friend @sponge-bob 👍👍😃
All the best for you 😉