Posted on 10/15/2015 2:57:20 PM PDT by dynachrome
In a country where real-estate transactions are normally done in cash, even buying a new car can be burdensome and potentially dangerous. Since a new vehicle costs no less than AR$100,000, buyers need to carry at least 1,000 bills, Carrino explains. “You need to take a bag with you.”+
According to the Central Bank of Argentina, two-thirds of the notes in circulation are AR$100 bills. ATMs quickly run out of smaller denomination notes as withdrawal rates increase. “Today, you go to an ATM, and they don’t have AR$50 or AR$20 notes anymore,” Carrino says.+
The Argentinean National Mint has been unable to cope with the public’s demand for cash, and the government has outsourced the printing of bills several times. This year, the government has contracted Chilean and Brazilian mints to print additional cash ahead of the holiday season, according to local media reports.+
(Excerpt) Read more at panampost.com ...
LOL
Back in the late 80’s I went to Buenos Aires and Santiago on a business trip
I asked them about exchange rates and they told me the quickest way to tell the denomination of the note was the length of the beard on the man pictured on the bill...
At that time their inflation was awful, just recovering and Chile was not far out of the Pinochet era...
Interesting times
It was true, still have some I never exchanged when I returned...
They could do what Mexico did back in the 80s. They issued “new Peso” bills, with each new peso worth 100 old pesos. Spending 100 new pesos for a bag of groceries didn’t seem as bad as spending 10,000 old pesos, even though it was the same thing.
Anyone who has any notion
of what causes inflation realizes
how this Headline is Insane
Since the creation of the Central Bank in 1935, the country has only experienced five years of inflation between 0 and 2 percent”
ALL Central Banks are fraudulent on their face, They depend on STEALING at Least 2%-4% of VALUE ANNUALLY just to stay even with the demand for CREDIT, and this is normal and to be expected.
Banish the Moneychangers from the Temple, for they are a “Den of Vipers”
Perhaps they could purchase some large notes from Zimbawe?
Last I heard they were a cheap alternative to toilet paper.
Hyperinflation again.
Considering US debt/spending, I imagine it could hit America to.
Thank you in advance Uniparty (Dems/Rep) creeps.
Argentina is just barely a country.
They’ve had five currencies in the last 50 years, so it’s about time for a new one.
Anyone care to guess where the current Pope got his economic ideas?
(Oh yeah, and when he went to Cuba, he ignored the dissidents (including one that was hauled off in front of him. Got a nice photo op with Mr. Kackstro right after that.)
If I remember correctly, they seized all the dollar acounts of their nationals, converted them 100:1 to the new peso, then said the owners could convert them back at the new rate if they wanted to. No wonder Mexicans prefer cash.
The Americans who bought their bonds for the 8% return whined and belly-ached over their loss until our government gave them a sweet tax write-off as compensation.
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