DTube - Argentina's Economy CONTINUES To CRASH! - Peso Reaches RECORD LOW
One of our recent video reports!
See the original article below:
Josh Sigurdson talks with author and economic analyst John Sneisen about the crippled Argentina economy as the Peso recently hits a new low record low... At least since the last peso hyperinflated and created less than 2 decades ago.
The Argentinian Peso fell below 29/USD which says a lot considering in comparison, the US dollar is also falling and devaluing at a rapid rate. Call it relative motion for the global monetary system.
The country has thrown $450 million at the market in an attempt to "stabilize" the problem, and most mainstream economists believe it has, paying no attention at all to history which plagues Argentina with over a dozen run-away or hyperinflations just over the past century.
John also goes into the habit of the central bank's "carry trade" of low interest rates and liquidity used to buy "growth" and "inflation-linked" assets in emerging markets.
The fiat system always falls. It always has, it always will going back to 1024AD in China. Eventually.
As long as we believe in central planning, quantitative easing, fractional reserve lending, vast quantities of debt and legal tender laws we will see the same failures repeat themselves.
We must open up to the free market. Competing currencies. Let the individual decide and don't enforce this insane debt bestowed on the masses by the same people who repeat history over and over again for eternity, making people subservient to debt and those who thrive on debt.
The fundamentals are off the table due to the level of manipulation in the monetary system as well as in the markets, so one cannot put a date on the coming crash, it's simply inevitable, so people SHOULD be prepared!
Individuals must educate themselves, be independent, rule themselves and of course decentralize their lives! You can solve these problems for yourself and your family, but it's up to you!
Stay tuned as we continue to cover the issues of Argentina.
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"The essential characteristic of socialism is the denial of individual property rights; under socialism, the right to property (which is the right of use and disposal) is vested in “society as a whole,” i.e., in the collective, with production and distribution controlled by the state, i.e., by the government.
Socialism may be established by force, as in the Union of Soviet Socialist Republics — or by vote, as in Nazi (National Socialist) Germany. The degree of socialization may be total, as in Russia — or partial, as in England. Theoretically, the differences are superficial; practically, they are only a matter of time. The basic principle, in all cases, is the same.
The alleged goals of socialism were: the abolition of poverty, the achievement of general prosperity, progress, peace and human brotherhood. The results have been a terrifying failure — terrifying, that is, if one’s motive is men’s welfare.
Instead of prosperity, socialism has brought economic paralysis and/or collapse to every country that tried it. The degree of socialization has been the degree of disaster. The consequences have varied accordingly."
Ayn Rand, The Virtue of Selfishness, 86
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