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What it's like to live life not trusting your bank or your money: A disturbing telescope into America's future comes from Argentina.
American Thinker ^
| 03/26/2023
| Monica Showalter
Posted on 03/26/2023 9:39:22 AM PDT by SeekAndFind
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The government limits how many US dollars people can buy at the official exchange rate, if they’re allotted any at all, and so they buy them at a much higher black market rate, called the “blue” dollar. It’s about double the official rate — at the moment, the official exchange rate is around 200 pesos to a dollar, while the blue rate is around 380 to one.
“The Argentine economy has taught the people here not to trust in institutions in general but also not to trust in one of the central institutions for the functioning of the economy, which is money,” said Santiago Cesteros, a research fellow at the University of Zurich and former consultant at the World Bank.
To: SeekAndFind
In the 19th century was among the wealthiest countries on the planet.
I wonder what happened? Hm.
To: SeekAndFind
This is the time to ask do we trust God, or cash or the government
To: SeekAndFind
This is the time to ask do we trust God, or cash or the government
To: SeekAndFind
This is the time to ask do we trust God, or cash or the government
To: SeekAndFind
Vox promotes woke socialism and corrupt, bloated government as a matter of course, then writes an article about other places that are living under just such a system
6
posted on
03/26/2023 9:57:56 AM PDT
by
PGR88
To: AlbertWang
To: SeekAndFind
The official exchange rate is 200 pesos to the U.S. dollar. A year ago, it was 100.
What strikes me is how much time is wasted waiting on line, or taking ferries to Uruguay, or workers going on strike to secure wages that keep up with prices. All this wasted time that could have been put to more productive use. The breakdown of a currency equals a breakdown of society.
8
posted on
03/26/2023 9:58:56 AM PDT
by
fhayek
To: Freedom4US
I wonder what happened? Hm. Eva Duarte.
9
posted on
03/26/2023 9:59:14 AM PDT
by
dfwgator
(Endut! Hoch Hech!)
To: AlbertWang
In God We Trust.....all others pay cash.
10
posted on
03/26/2023 10:00:22 AM PDT
by
dfwgator
(Endut! Hoch Hech!)
To: fhayek
11
posted on
03/26/2023 10:04:36 AM PDT
by
PGR88
To: PGR88
12
posted on
03/26/2023 10:05:19 AM PDT
by
dfwgator
(Endut! Hoch Hech!)
If only we can get the super diverse spanish influenced ideals of corruption to our shores
13
posted on
03/26/2023 10:06:41 AM PDT
by
dsrtsage
( Complexity is just simple lacking imagination)
To: SeekAndFind
Amid super-high inflation, people can’t bet on the value of the Argentine peso staying stable, so when they’re paid in them, they spend them fast or convert their money to American dollars — it’s unwise to keep your money in pesos for too long.And, if President Sniffer continues on this path - what currency will Americans be able to convert to? Canadian? Mexican?
14
posted on
03/26/2023 10:07:19 AM PDT
by
GOPJ
(When Morning Joe's sycophants say "My Democracy" it sounds like Gollum saying "my precious")
To: fhayek
What strikes me is how much time is wasted waiting on line, or taking ferries to Uruguay, or workers going on strike to secure wages that keep up with prices. All this wasted time that could have been put to more productive use. The breakdown of a currency equals a breakdown of society.
Life is choices. Where we spend our time is one of them. We can “let” them choose for us, but what would be better choices?
What should we choose today?
15
posted on
03/26/2023 10:07:24 AM PDT
by
PeterPrinciple
(Thinking Caps are no longer being issued but there must be a warehouse full of them somewhere.)
To: SeekAndFind
Emily stresses to not lose confidence in institutions. How about the institutions quit screwing up?
16
posted on
03/26/2023 10:09:16 AM PDT
by
griswold3
(Truth, Beauty and Goodness ; Quos Deus vult perdere, prius dementat)
To: SeekAndFind
Americans no longer have to face the arduous trek to places like Argentina or Venezuela to experience a culture and society where citizens
cannot trust their government, banking system or currency.
Thanks to our own democrats and other unhinged leftists we now can have the exact same experience right here in our own home towns.
17
posted on
03/26/2023 10:10:13 AM PDT
by
Iron Munro
( Michael Byrd: "Well, Somebody had to do it - Babbitt wasn't gonna' shoot herself!")
To: SeekAndFind
It is the lack of Trust in God that is costing this nation our freedom and prosperity.
18
posted on
03/26/2023 10:11:56 AM PDT
by
G Larry
( "woke" means 'stupid enough to fall for the promotion of every human weakness into a virtue')
To: dfwgator
I find myself buying tools I don’t need now but will in the future. And of course topping up my preps.
To: GOPJ
And, if President Sniffer continues on this path - what currency will Americans be able to convert to? Canadian? Mexican?
Yuan? Riyals? Rouble?
20
posted on
03/26/2023 11:22:00 AM PDT
by
Mr Radical
(In times of universal deceit, telling the truth is a revolutionary act.)
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