Worthless Paper
When I got to Argentina, I loved no tax. Marked $5? You pay $5 ! They also rounded everything to the nearest five cents. The only store that would include pennies in your change was McDonald's (and people were kind of annoyed with that).
Worthless Paper
I was issued at some point in the past and was accepted for the purchase of food, rent, cars, etc..
Yesterday, it was given to me when I said, "he that's cool" at a souvenir shop.
More Worthless Paper
Governments print it, tell us that it's worth something, then they make it less valueable until it has no value.
Finally, they intruduce new bills that are equally worthless, but they give them a new value.
And we buy into it every time.
This is the so call "money clip" I bought when they handed me the note that is in the cover photo.
The last time Argentina introduced currency, it was pegged to the dollar, one to one.
That peg lasted ten years. Since then, the currency has gotten more and more worthless, currently near seventeen to one.
That means One hundred dollars will bet you $1,700.00 pesos. (pesos are the purple paper things). One purple thing with a printed "100" on it used to be my rent, now I need seventy of them.
As the paper loses value, the government makes them fancier which the gullible tend to believe and that fact helps to slow inflation. Inevitable though, people get tired of counting to ten, stacking, and then counting to ten again.
A few months ago, they printed larger bills which I will post soon. We have 200 peso notes, 500 peso notes and in the nexte few weeks the 1000 peso notes will be released. Can you say Venezuela? Yeah, we are headed there.
I told you about my rent being one hundred? I just got coupons in the mail, which is evidence that what used to be a month's rent is now a BK meal. Not really more expensive, just more counting of paper rectangles.
You think this is only happening in South America? Wrong!
A new Camero still costs $1800.00 people.
You just need to use real dollars.
Remeber tose huge silver disks with Dwight D. Eisenhower on them?
This is hard to read, mostly because when thinking so much about money and government and reality, I start to panic. The realization that something so fake can have so much control over our lives is terrifying. I remember when I lived in Buenos AIres it was 4 to 1 to the dollar. That was 2010-11. I live in Mexico now. It was 22-1, but now it's 18ish-1. Pfff. What can we doooooo.
I have been pulling out of paper and getting into more digital currencies. Lately I have tried to cash out some of the digital stuff to get more metals. Silver and gold in the drawer makes me feel a bit better as I watch the peso go near 17 to 1 !
I watch store employees walking to the back room with bricks of cash to store them in the safe. Crazy and it's going to get crazier. I have no option to move at this time - my kids are still under-age. My ex locked in to living here.
The situation in Venezuela is much worst.
I have written some posts about the situation of the Venezuelan bills.
Actually in the seventies and beginning of the eighties the Argentine peso was worth so little they had 1 million peso bills, I used to collect banknotes and I had a couple of 10,000 peso bills.
He he. I think those were the "australes" if I am not mistaken. The funny thing is - I sell a lot of crypto, and everyone I meet gets the same talk. Bitcoin is slow right now, you should try Steem.
Then I say...
The good new is that you will be a millionaire next year.
when a million pesos buys a two-liter Coke
No they were pesos I think I still have them somewhere around.
"The peso ley 18.188, usually known as either peso or, to distinguish it from the earlier peso moneda nacional, informally as peso ley, was the currency of Argentina between January 1, 1970 and May 5, 1983."
Years ago, I read an Argentina history book. I hear about what happened all the time too. There was a dictatorship here or something. Lots of sadness.
I fear there will be a Venezuela type sadness here in the near future too. I am trying to be diversified into metals, and all different digital coins.
It looks like the plan is to have all currencies collapse eventually. Interesting, thank you for the article.
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May the day be rich in heat,
So that you, waving your wing,
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I took my luck with me.
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Could earn a million!
Me: It's a bubble!
Mr Clueless: You mean Bitcoin?
Me: No..fiat currency.
It's crazy how the price can change like that.
I was reminded of this short film in which the K Foundation (aka The KLF) burned a million pounds sterling.
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