Getbig.com: American Bodybuilding, Fitness and Figure
Getbig Main Boards => Gossip & Opinions => Topic started by: mphgrove on August 14, 2023, 06:04:20 AM
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In case anyone is predicting the demise of the US dollar, it is being discussed in Argentina’s presidential election as possible replacement of peso as official currency. Probably will not happen, but amazing for so large a nation to even be debating it (all of the five or so other nations that use the dollar are small). Maybe some day some crypto replacement solutions will come into play, but Euro or China, etc. unlikely.
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Mess of a country sadly, been that way for a good 70 years or more when prior to that it had genuine potential and solid gdp
100%+ inflation is insane but seemingly BAU and effectively entrenched literally and mentally
Am crypto agnostic but if lived there id be hedging with some for sure. Us dollar already a proxy in some sense for many but agree unlikely to formally replace
Diego weeps
(https://encrypted-tbn0.gstatic.com/images?q=tbn:ANd9GcSalPUkV1GUhXX_K9Vb8rjOyY1q0gpINbJ4Ew&usqp=CAU)
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What happened to Argentina? Looks like a beautiful country, and had solid European influence. How did their economy take such a massive shit?
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What happened to Argentina? Looks like a beautiful country, and had solid European influence. How did their economy take such a massive shit?
The list is long and illustrious, just from casual observation: little things like constant political upheaval, market manipulation and distortion (import/exports for eg), massive populism-focus aimed at short term public approval at the expense of long term prudence and economic management (cry for me Evita) and...by no means least.....money printing printing printing and more freaking printing
And it just becomes a vicious embedded cycle over time
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The list is long and illustrious, just from casual observation: little things like constant political upheaval, market manipulation and distortion (import/exports for eg), massive populism-focus aimed at short term public approval at the expense of long term prudence and economic management (cry for me Evita) and...by no means least.....money printing printing printing and more freaking printing
And it just becomes a vicious embedded cycle over time
And then of course historically everybody with money starts pulling their money out of the country (e.g., to US, Switzerland) for self preservation. Although it is so far away from US, I do not see many Argentines buying property in Miami (Brazilians do).
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The country is being run into the ground. Switching currency isn’t going to solve it.
We will hear more and more of this over the next 2 decades. The inflation the West is creating is equivalent to the single rain drop at the top of a mountain. By the time you get to the bottom where Argentina and others are inflation is an out of control flood.