Argentina has a paper crisis. Venezuela-like inflation speeds up.
This picture has $200.00 in purchasing power.
On our way to Venezuela's fate,
$100 = 3,333.33 in pesos.
One piece of paper is debt of one hundred dollars.
The other wads of purple bills are the cost of the one USA bill.
To clarify, a dozen eggs cost ar$60.00 and a gallon of milk costs ar$100.00
In dollars, eggs $1.80 and milk $3.00 which is cheap if you are travelling here.
It's fun to think about cheap food but not so much fun to carry bricks of currency around with you in order to pay for the smallest thing. I never go out of the house without ten thousand in pesos.
Today's published rate.
As a final note, I have published other posts like this which may not be of much interest to those outside of deep South America, but we have many, many countries that are printing their way to the same end. It is time to have something solid for when this hits your country.
Update:
Bitcoins now cost ar$234,600.00 for each one.
Bitcoins now cost ar$276,000.00 for each one.
Bitcoins now cost ar$286,350.00 for each one.
These changes in price Considering bitcoin at $6900.00 dollars.
As a trader, I started telling people here in Buenos Aires that they would each be a millionaire before the end of 2018. They snickered and their eyes got big. Then I told them that they would have a million cash in pesos each. Still this made them very happy, though I could see the disbelief in their eyes.
I saw the trajectory and the evolution of ever larger denominations of bills. Then I saw the collapse of Venezeula where Coffee for four costs a million bolivars. Then Argentina created new bills, demonetized the $2 notes, created the $500 and $1000 notes.
Now I am getting calls of the millionaires starting to surface. Three months to go on my prediction, and I still see Christmas dinners costing a half a million or more depending on if you are a family of four or of eight.
The above is nearly 25% inflation in two days.
Aug. 27th it cost 31.50 to get a dollar.
Aug. 30th it costs 41.50 to get a dollar.
Thank you for posting @sponge-bob.
Appreciate the on-the-ground reporting from Argentina.
Yes......there are those who are interested in S.A.
Cheers!
Thank you @bleujay, you are a bastion of continuity here on steemit!
Thank you for your kind reply @sponge-bob.
Really?......I will try to live up to such praise. ^__^
Wishing you and yours all the best.
Cheers!
i agree you are the one of the lovely members of steemit bleujay
What a kind comment @hassanabid.....thank you.
Update:
The peso seems manipulated after shooting to $41.50.
I t stayed around $39.50 to $40.00 and today the only site that has continually been reliable was down most of the day.
When it came back up, instead of charts and prices, it has a photo with the footer ***Without Central Bank intervention, the dollar went down 88 cents to $38.40
This cold only mean one thing. The Central Bank told them to publish low figures, then they took the site down for the day.
Sigue siendo asombroso como las personas aún confían en un papel que cada vez vale menos, Las criptos asi como baja su precio, somos testigos que su despegue es inminente al igual que otras criptos.
Tal cual. Lo más más más más loco es que parece ser como que muchos son simples espectadores pasivos ante lo que esta sucediendo, en lugar de posicionarse como sea del lado de las criptos para salvar y hasta multiplicar sus ahorros. ¿Cuanto tiempo más se mantendrá el vendaje que tapa los ojos? ¿Cuanto más se puede sostener la mentira?
It seems that follows the path of Venezuela with respect to the devaluation of paper money, this shows the failure of fiat money.
En mi país la devaluación es tan grave a e para comprar una pieza de pan o un huevo se necesitan fajos de billetes, porqué el estado devalúa cada vez más, porque se está produciendo dinero inorgánico. Saludos @sponge-bob
which language is it eh ? anyone ??
I think she might be speaking spanish but I can't tell.
It's amazing how the devaluation is attacking Argentina. This reminds me a lot when the Venezuelan currency little by little suffered from inflation and was worrisome. It is not unreasonable to think about the same result..
I do not want to see any country living the same as we do, let's hope this stops.
I stay in cryptocurrencies..
Nosotros en Venezuela estamos pasando calamidad por esta crísis, los sueldos no alcanzan, hay que salir con un sustancioso monto en la tarjeta para adquirir algunos productos para nuestro consumo.
Que fácil se les hace imprimir el papel, sin un soporte. Fabrican cantidades A su conveniencia. Empujando un desplome económico..
Creo que mucho de esto es causa de una gran manipulación de quienes están contra el gobierno actual de ese país, y también una inminente caida del dolar.
Fiat is not gonna stick that long digital is the only way to go