/biz/ - Business & Finance

>>54697481
That put a whole new meaning to, "it bank run season!"

It's an irrelevant spicoid shithole, it won't affect other countries

Why is it always Argentina?

>>54697481
I thought they won the world cup loool

>>54697542
At least they're real world. The BRICS fantasy is next door.

>>54698182
every time argentina wins, their economy goes to shit

How much is the cost to rescue at least 8/10 cutie from that shithole?

>>54697529
nah, over there they restrict what people can withdraw. they got bank run risk sorted.

>>54698272
Did something like this. It worked out well, then it got weird. It costs you nothing more than having some extra square footage and not being creepy.

>>54697481
looks like things just got messi

>>54697542
>Why is it always Argentina?
Because distrust for the government reached critical mass decades ago. NONE OF US trusts our government and therefore none of us trusts our own currency. Everyone thinks in dollars, saves in dollars, buys and sells houses and cars in dollars. Pesos are the currency for the grocery store and not much else. We are a de-facto dollarized economy. Compound to that the fact that NOBODY puts their dollars in the bank. Everyone saves their bills physically. We are the third country in the world with the most off-the-system dollar reserves after Russia and China.
So people get their pesos, they buy everything they immediately need and swap the remainder for dollars in the black market, off the books. Tax evasion is a way of life for everyone with 3 bucks and two brain cells.
We have a fully-functional, fully-oiled, off-the-books parallel financial system that involves physical bills, foreign bank accounts and now crypto. Which is why 51% of the country has bought/sold crypto at some point. There is no motivation to use the regular financial system, which could just take your money at the behest of the government at any point. As they have done at least twice since the 80s. If people deposited half the dollars stashed under their mattresses into the financial system every single monetary problem we have would be fully resolved, instantly. No joke.

>>54700083
To put it in perspective:
>be me
>make shitty website for foreign client
>get paid in USDT
>send the USDT to my broker
>wait half an hour
>doorbell rings
>a guy hands me a package
>50% in pesos at the black market rate (2x higher than the official rate)
>50% in physical dollar bills
>make an invoice for the amount in pesos and deposit the money to my bank account, this is now fully washed
>use the dollars to buy a new computer at a discount, off the books
Why the fuck would I choose to get paid half of what my dollars are worth and then taxed fully for the remaining amount? Muh roads? lmao 2/3rds of the people in this country are reliant on the state either directly: pensions, welfare, government jobs, or indirectly: working for subsidized government coops and companies. I'm not living as a poor to subsidize that. Its unsustainable and I won't pay a fucking dime until the whole thing collapses.

>>54700083
guys come all of you to italy and therefore europe i know that 20/25 mln of people are from italian ancestry and would be able to get italian citizenship

>>54697481
please tell me all these dumbasses bought bitcoin?
even i have been buying BTC like a retard because of some shit that MIGHT happen, if there is 104% inflation, how could these people not be flooding into BTC? basically if BTC goes down 80% these cunts are still better off than holding their dogshit currency.

just comical

>>54700127
Yay, people buying $20USD of btc every week. Gonna pump so hard!

Poor people are still poor.

>>54700147
i don't want BTC to pump faggot i just want these people to make an obvious decision so they don't lose a crazy amount of wealth

>>54697481
>Argentina
>imf loaning billions to help the goverment
>still failing
doubt imf will see that money again

>>54700122
Why would I move? I'm living great here. Only low-IQ people suffer in this country. Well, that's not fair. People who like to be orderly and proper also suffer. For the rest of us this is a libertarian paradise where you evade taxes and ignore permits at leisure. Worst case scenario you pay a small fine or an even smaller bribe.
(I did get my Italian passport just in case)

>>54700161
Some of those dollars are comfortably sleeping under my mattress right now. So no, they'll never see them. Those motherfuckers never learn. We'll just default on our debt and pay less than half in a decade or two.
Thanks for the cheap dollars IMF, you are my favorite globohomo.

>>54700161
Imf doesnt care about money, they want resources

>>54700192
The IMF boogieman is a Hollywood invention. Everything in confessions of a economic hitman is a fucking fantasy. We have fucked with the IMF multiple times and they have gotten no resources from us. They are the best lender you could hope for. They have the lowest rates and when you default they won't even foreclose on your ass. All they ask in exchange is that you lower the deficit and other shit that you should be doing anyway. Even if you don't do it they won't even sue you, they'll just stop giving you money. Private lenders are harsher.

>>54698272
argentinian women are extremely picky lol, there are Chads everywhere there it's fucking colombia or mexico

just look at argentinian football team

>>54697481
DOLLAR
FUCKING
MILKSHAKE

>>54697481
I bought argentinian bonds last year for a few bucks in expectation of this kind of event just to annoy the service team at my local bank. Because of mifid and all that crap they'll have to call me, send tons of paper to me and pretend to care what I hold in my account.

>>54698790
Damn a 75% of the way there carlos post
Thats like in the top 10%
Good job
What its missing is a connection between banks and messi, but good show none the less

>>54698790
Carlos, you little brat...

>>54700083
>>54700112
based

>>54700083
Holy shit.

MFW I realize that the interest rate rises aren't meant to destroy America but rather to destroy Russia and China. Holy kek get fucked.

>>54697481
why are they not buying crypto? literal retards

>>54697481
BREAKING: literally nothing

>>54700083
>>54700112
is anyone using precious metals?

>>54701721
It ends with every country that has half a brain realizing that they need to get out of the way of the US dollar wrecking ball. Only ones that can't get out are US allies, their milkshakes are slurped up

>>54700083
Whenever you see a parallel market emerge in this way you know that the monetary policies are retarded and will most probably lead to downfall. When you saw dolartoday pop up in Venezuela you knew things were about to get spicy. And when you saw dolar blue gain traction in Argentina you knew this was coming.

Hold on tight argiebros, it will get worse before it gets better.

>>54700112
I heard Argentina used to be almost first world tier, what went wrong?

>>54702346
Socialism

>>54702346
Too many Italians/spaniards/krauts, not enough anglos who are the only group that’s proven themselves capable of running a functioning colony outside of Europe for a sustained period.

>>54702264
Rates go up means circulating bonds with lower rates go down. Rate hikes therefor reduce the bond holders' wealth. It's hilarious.

>>54700083
>If people deposited half the dollars stashed under their mattresses into the financial system every single monetary problem we have would be fully resolved, instantly. No joke.
I have to disagree. Most of your problems and distrust to financial system comes from government mismanagement. This causes financial problems and demand for for fast and simple solutions (which do not work), which empowers incompetent populist governments. If you, guys, would bring your money to national institutions, they will just have more money to mismanage with harmful welfare and insane government spending for political gains, with populist monetary policies. Look at Turkey that managed to fail it's economic miracle with great population graph by stupid monetary policies. Look at countless petrocracy states, that managed to fail due to insane spending on vanity projects and risky geopolitical plays. As a guy from a country with often incompetent government, I tell you that first thing you need is a competent government.

>>54697481
It's a regional economy at this point. Crash can create some problems for close and small trading partners, but it should not affect global market to much except for, maybe, increased volatility on agriculture market. As I heard, they had bad harvests last years, and economic crash can make recovery for farmers much harder.

>>54702315
The exchange rate between buying and selling is too big, I would buy paxg instead of physical gold.
The only bank in Argentina that sold physical gold stopped doing so.
People who want to buy physical gold have to do it in jewelry stores with very high prices.

>>54700083
Why don't you... do something about your government? In minecraft, I mean. Or would that just replace one set of corrupt politicians with a paranoid, even worse set of politicians?

A gram of cocaine cost $15 in argentina and a hooker cost $10 . So I party all night for $50 usd . I love Argentina.

>>54702573
i don't come to this board to read intelligent posts, go away.

>>54702772
We will do it with Autumn elections.

>>54703382
Vote them rascals OUT!

>>54697481
Sudacas baka desu senpai

The unbelievably almighty extreme, deep, omega severely giga recession is coming!

>>54702333
Godspeed, Argentine Anons. Prepare yourselves and turn your lives and finances into fortresses, so far as is possible. Crypto, gold, silver, foreign currencies, and survival supplies.

>>54697481
Why does Argentina keep collapsing? Corruption? Immigration?

>>54697481
Only hearing about it from 4Chan. Nothingburger

>>54703736
It's the result when giving out free shit becomes terminal
>people are poor
>politician promises free shit if he/she gets elected
>politician gets elected
>hands out free shit, which devalues the currency
>even more people become poor because of inflation
>the next politician promises even more free shit if they get elected
>repeat until there's 0 trust in government and national currency

>>54702315
>is anyone using precious metals?
you fucking idiot, we keep trying to tell you NOBODY WANTS YOUR BOOMER ROCKS

>>54702772
>Why don't you... do something about your government? In minecraft, I mean
you can't get rid of your government without guns anon

ironically the only country that has a chance of getting rid of their bullshit government are the burgers that fucked this all up in the first place

>>54703794
This is becoming more and more of a problem in many countries, politicians promising things with no care for how to pay for it, leaving massive debt burdens for future generations. Combine this with a bloated bureaucracy, wasteful spending and nepotism/corruption and you have a disaster coming.

>>54697481
How can they run out of dollars when burgers keep printing more? I don't understand.

>>54697481
Imagine Argentina's economy as a massive game of Fortnite. Their Central Bank running out of US dollars and dipping into customer deposits is like a player losing all their health and shield - they're now chugging a Chug Jug borrowed from their squad, just to stay in the game. But this Chug Jug doesn't provide a full restore, and the player is still vulnerable to attacks from other teams (economic instability, investor panic). And inflation at 104%? That's like the battle pass but the prices of V-Bucks just keep doubling every month.

How are the Argentine women? What are the prospects for a world touring crypto-NEET?

>>54703844
They don't because they are priced out so they use its substitute which is the dollar lol
Not because it doesn't have value, but because they are too far gone into the fiat ponzi scam

>>54702346
Argentina is basically what Southern Europe would be like if they were kicked out of the EU and no longer had German gibs

>>54703794
>>54704189
It's called "Porkbarrel politic", and it's one of the reasons so many people hate democracy.

>>54705261
okay boomer

>>54697481
>flossing stops

>>54705093
Thanks Jerome

>>54703844
The guy literally said nobody can afford gold because they're overpricing it lol

>>54702573
>Most of your problems and distrust to financial system comes from government mismanagement.
That's literally my whole post. That last line is not about it being an actual solution, but to represent the scope of distrust. Meaning, its not a money problem, there is more than enough money, its a trust problem. Like I said in the first sentence.

>>54702315
>is anyone using precious metals?
Not really. Its almost impossible to buy/sell gold off-the-books without getting shafted. Some people might use it for long term savings, but not as a way to escape the day-to-day issue of inflation.

>>54701721
my man

>b-but muh multipolar world
I hope you retards learn something. American Exceptionalism is not a meme.

>>54702772
>Why don't you... do something about your government?
2/3rds of the people here are either directly or indirectly dependent on the government. Unless you are some type of "two weeks" LARPer there are only two choices:
1. Become self-employed and cut the state off your finances in every possible way. Treat the government as if it was a foreign occupation entity. Take everything you can from it and give them nothing, or at least as little as you can.
2. Emigrate to a country that respects people who take work and civic responsibility seriously. Behave like a serious and responsible adult there.
The idea that you can change this country is a one-way ticket to misery and madness.

>>54706352
BUT BRICS

>>54705261
>>54706126
The real issue is that there is not a well-oiled parallel market for gold. You can go to any small town here, ask around, and find someone who will trade you US dollars off-the-books at 2x the official rate. Gold is more tightly controlled. Most vendors comply with regulations and they are non-existent outside the main metropolitan areas. You'll have an easier time buying bitcoin off-the-books in some small town than gold.

>>54698208
>>brics
do they rearrange the letters to add argentina or is it like the mentally ill, just keep adding letters and plus signs?

>>54702333
Triple threes, checking these blessed digits.

>>54700112

you say it's "unsustainable", yet it has been like this for at least 30 years if not longer. when , if ever, do things totally implode

>>54702329
I remember some JR guest telling the story of Spain switching to the Euro.
One day you'd buy a paper, coffee, scone in the morning for 3 pesos.
Then literally the next day the paper, coffee, scone cost 3 euros.
Except, the exchange rate is 3 pesos for 1 Euro.
Spain has had recurring protests and crippled economy ever since.

The secret? Central bank kikes need to leverage population labor/output with predatory monetary policies to eek out the value/tax revenue necessary to bankroll their efforts to take over the world and spread globalism.

Sweden was cracked open and flooded with shitskins because the Central bank kikes needed more revenue generating corridors to keep their dying financial system alive.
The "racism/shame/guilt/european cultures or people dont actually exist", was a red herring/smoke screen/distraction & bludgeon used to make these cultures accept the desperate policies of a dying kike financial system.

South America is similar. It has been crushed over and over for decades by coups and economy devastating bullshit with internationally sponsored political movements/leaders to keep the continent from becoming a real player on the world stage.

>>54706614
I agree, its never going to explode. Not in a real way. Its just going to continue to circle the drain. Every cycle the average clueless argie gets a bit poorer, the clever argie gets a bit richer, and the "defeated honest argie that tires to do things right" will see another one of their children move overseas.

>>54706681
insightful, post moar.

>>54700112
Gigabased

>>54700083
>If people deposited half the dollars stashed under their mattresses into the financial system every single monetary problem we have would be fully resolved, instantly. No joke.
how? I thought you didn't trust your government and banks to manage the money well

anyone else here watch btc/argie peso charts?

>>54697481
They don't have their own national currency? I don't get it.

>>54702796
gram of coke is $5 here but a hooker is $80-100. Colombian btw. How the fuck are hoes so cheap down there?

Can someone explain to me how Argentina just keeps chadding along after an entire century of economic decline and decades of double digit inflation? How do they do it?

Doesn't this happen once a year

>>54707287
The ARS is worth more as toilet paper than a currency so USD is more used. Hell bags of grain are more sought after than ARS.

>>54707445
lol, they're going to devolve into bartering shit for goods and services pretty soon.

>>54697481
hmm, sounds like you need some more dollars. care to buy some? we take credit

>>54707151
The point I'm making with that statement is that we don't have a money problem. There is more than enough money. Its entirely a trust problem.

Amazing how clueless everyone is about the fact that this is going to happen to a lot more countries very soon. It's the dollar endgame.

>>54707445
stealin this

Fucking Argentina again, I cannot believe idiots still lend them money

>argentina
>relevant

>>54697481
Everyone starts with golden burst assault rifles. Matchmaking has made an error and you are now playing solo in a quads match in competitive build mode and unlimiting building supplies

>>54706614
>when do things implode?
Slowly and then all at once.

>>54707535

>>54706528
brics+

>>54707593
The value of money is trust. Otherwise it's just some random token. You TRUST that someone will give you X amount of goods for your money. Of course, the hypothetical guy from you intend to buy things for money also has to trust that he'll get X amount of goods for it, and so on. In a certain sense, it is "based on nothing" (which is what everyone says to slander everyone else's money, but never his own, e.g. gold vs BTC), but nonetheless, money still works because trust is the fixed point of belief.

>>54702408
This is also happening in the US to a lesser degree.

>>54697481
EXTREMELY bullish for BTC adoption.

>>54707863
The trust is obviously lost because governments keep pulling the shit they pull. It's true in a sense that all problems would be solved if people would just nicely surrender their savings and recapitalize the banking system, but the banking system and the government have created this problem. There is no point in trusting them, they'd just hyperinflate, confiscate, tax, fund unsustainable programs next week, or next year, or in five years, or whenever. Not trusting those people is 100% rational, which is why nobody is trusting them. The problem isn't you not giving them the money, that's rational. The problem is them not deserving trust. In fairness: as soon as a government has its own money, the pull of gravity will make them do these kinds of stunts because, while they can't create value, and, in fact, destroy value (trust), they can at least create the illusion of value.

>>54702315
venezuelan anon here, our currency collapsed 4 times doing -99%, and not even once precious metals were used. Some stores even settled in fucking doge. thats just how useless your rocks are.

>>54705093
Finally a real explenation thank you. You cured my autism and my addiction to the nintendo cube

>>54706323
What about coins of debased metals? Are they still circulating or do they get hoarded?

>>54706492
Seems like a copper chad with 300lbs of coins could come in and swipe up all the qt3.14s

>>54701664
lmao women will pick a 7/10 rich guy over a 10/10 chad 90% of the time

>>54703844
>>54707971
>Gold is worthless
>Literally worth $2,000 an ounce

>>54708027
>Wow, this is just like something that happened on a different continent 3 centuries ago!

The absolute STATE of PM retards

>>54697542
What’s cia?

>>54708069

>>54700159
For them buying USD is likely easier as it is more liquid and people are more familiar with it

>>54707622
This. Countries get tired of getting fucked by usd and resort to more stable currencies like china yuan.

>>54708064
>boomer blocks your path

>>54708101
>yuan
The chinks are only going to allow redeemability of gold for 1 year before they hyperinflate. I would never trust a chink, a jew, or an african.

>>54708101
>resort to more stable currencies like china yuan.
The value of which is tied almost entirely to the USD.

>>54708101
>trying to actually get your hands on Yuan
>realizing that the Chinese literally manipulate the Yuan in value in relation to movements of the dollar

Guys the memes are becoming real. In another thread id posted that the penny, nickel, dime, quarter and bronze dollar coin would respectively: become a zinc plated steel 1 cent, 5 cent copper same size, 50 cent cupronickel 5 gram, 1 dollar coin, and a 5 dollar manganese brass
>inb4 its a 5 dollar gold coin
I didnt even read the article, just the title because I do judge books by their cover and the authors by the early life.
I farted on a jew
Simple as

>>54708575
Sorry to repost this if I already did but just placing the memes beside each other for easer autistic absorption by others.

>>54708575
Canada had to get rid of 1/2c because it'd have to be made of cardboard to break even.

>>54708622
How much for a box? 6 sheets of 100 half pennies, jeez is a moving box really over 5 bucks now wtf lmao just start stamping out carboard accelerate

>>54697481
how cheap can I buy a big farm in dollar, legit I wonder if the rural white people villages in argentine are real or just a meme

>>54708101
lol
lmao, in fact

>>54700127
Based Argentanon who posted above you claims over half the population has used crypto...so sounds like that would be mostly a 'yes'.
However the economy operates on USD and everyone holds USD, not their peso currency or whatever the shitcoin is.
So overall they sound much more clever than you seem to give them credit for.

>>54708223
Tied to the usd but controlled and manipulated by the ccp

>>54707876
*XMR

>>54703780
The inflation part?
Or the dollars part?

>>54708622
Canada only had pennies(1c).
Getting rid of them was more about practicality rather than how much the metal was worth.
They weren't even made of much copper when they got rid of them afaik.
No one wants pennies. Even if they were 100% pure copper no one gives a fuck.
It's really pretty much just that. Things are expensive as fuck already and getting pennies for change that literally will never be spent again or even carried was retarded.
If we get rid of all change it will be for similar reasons. Not the metals.
No one gives a fuck about the cost of the metals. We have a lot of nickel and all of that other shit. That's not the issue at all. It's just fucking annoying to carry coins and no one does.
Yes, we will own nothing and be happy etc. Yes it's a shit country that's heading down the toilet...still not holding physical metals.

Argentina

>>54707622
yes, it has happened to Lebanon, Venezuela, and sri Lanka. Soon it won't be total shiteholes it will be japan

>everyone claiming gold won't be used as currency

Nigas there is a reason every single central bank is hoarding gold right now. USD were easier to exchange because that's what people were used to, but if USD goes to shit along with all other fiat currencies you can bet gold and food can will be exchanged

>>54709976
I have almost as much gold as the central banks combined (even if you count the sweep accounts where they transport the same stack to another vault too)

>>54697481
It bout to go down, just wiped out tomato town

>>54697542
Argentina has been a failed state for a long ass time. They're basically the Iraq of South America.

>>54700127
get monero bro then you can roll with the lebachads. btc is gay and tracked.

>>54709976
>you can bet gold and food can will be exchanged
Like it was in the US up until 1933?

>>54710011
It literally doubled in price so people who held saw it go from 20 to 35.

>>54698287
they dont have restrictions but they will literally shut down a bank if somebody makes big enough withdrawal. someone taking out $5k is enough to spook a bank.

>>54710037
>spooking the bank
Before the svb crisis, I had told everyone I ran into to pull out just a little bit of cash each week , and to stack silver. Jidging from how things turned out with my memetic unfolding of reality gifted by the Providence of God, being in the right place at the right time in the depths of spacetimeGodbrain, they took my advice

>>54710037
Also banks connected to the fed are legally required to have 0% reserve, to invest every penny they have. Credit unions are safer than this and represent how banks used to be /could be

>>54700083
B00kmarked

>>54709976
Yeah, they are planning something

>>54708028
And they will cuck you 5 times before you had your first date with them. Let's just say that getting cucked for the first time is normalized and even expected (for both boys and girls) "De la muerte y de los cuernos nadie se salva".
Trust me on this, argentine girls might look cute but are one of the most promiscuous women on Earth, and the gold diggers are ten times as dangerous and manipulative. A poor guy from 4chan like you has no chance of beating them at their own game.

>>54709874
It’s always about the price of metals, that’s why we abandoned silver in 1964 and copper in 1982. What the government mistakes is that they can create the money and not the people. Free coinage would allow people to bring their metal to the mint and get coin for spending. The cost of producing coins would be irrelevant -if the money appreciates then sellers would simply lower their prices. That sort of deflation is good for the consumer but banking jews abhor the notion. That’s also why most countries debased their money after WWI, heaven forbid money appreciates slightly relative to shit societies.

>>54708575
I see US mint still insists on making nightmare coins that no collector wants

>>54709874
The price of the metals was certainly the main issue back then, I agree.
But now what I'm saying is that pennies could be made of $0.00001 worth of aluminmum and they'd still be eliminated for reasons beyond the cost of the metals primarily.
The cost of the metals plays a factor, but at this point in time the denomination is simply too small to be of any use after the amount of inflation we've gone through.

>>54710415
That was because the governments nearly bankrupted themselves fighting the war so they inflated to reduce the burden and stuck Germany with the bill.

>>54710750
>World War 3 enters the chat

>>54707445
Now thats a rugged shitcoin

>>54710415
>That’s also why most countries debased their money after WWI, heaven forbid money appreciates slightly relative to shit societies.
Anon, that's how you get a deflationary crisis.

>>54703794
yeah it's funny how leftists work, they are sadistic and yet the population keep wanting more of them

it's funny how the lack of memory is the crucial ingredient to make democracy work

>>54705333
German rats having been controlled by the american rats and their goal was always to destroy europe

>>54711433
When was the last time that happened?
Just print more money nigga lmao just send checks to everyone haha how the fuck is deflation real

>>54712410
>When was the last time that happened?
...The last one here ended 84 years ago.
>Just print more money nigga lmao just send checks to everyone haha how the fuck is deflation real
Well, when the supply of money increases beyond the reserves of the issuing government, people withdraw their gold/silver until the govt. has to bounce checks. Alternatively, they make it illegal to cash out or hold the note (as they did with the silver dollar receipt), in which case, their money basically loses its value overnight since the thing guaranteeing its value is gone.

How long until they try to retake the Falklands again to distract their population from their shit governance

>>54702315
Muh silver squeeze is never happening retard. When shit goes south, people want food & gas, not fucking rocks.

>>54707445
>ARS to USD used to be 3:1 as recently as 2006

>>54714176
So what you're saying is you apologize for calling it a deflationary crisis, as it was only possible on account of the preceding inflation. You can't have catastrophic deflation without semitic levels of inflation first, yes yes?
Manufactured boom bust cycles yes yes?

>>54707388
our country is unbreakable, we could "collapse" 100 times and keep going. Too many resources, too big and too few people. We'll never starve even if the world goes to shit, but we'll never be rich either

>>54708069
Anti pm fags are so annoying
Just dont buy metals. Why the constant whining?

>>54709976
>muh gold
lmao, you still didn't get the message.
you WILL be scammed if you try to buy or sell gold in latin america, and if not, your gold WILL be stolen at gun point (assuming they don't simply kill you)

fucking retarded amerimutts really think life is as simple as in the movies.

>>54700112
I hope the IMF doesn't lend a single cent to you fags ever again

>>54714971
>So what you're saying is you apologize for calling it a deflationary crisis, as it was only possible on account of the preceding inflation. You can't have catastrophic deflation without semitic levels of inflation first, yes yes?
No. You can have a crisis all the same. It would just take extreme idiocy, such as was proposed by your non-starter idea, for it to happen.
>Manufactured boom bust cycles yes yes?
They're manufactured, but you don't have to directly shoot your own currency's prospects over the horizon for them to happen.