Sunday, April 13, 2008

Jewelry gold, on field test (Update)

Almost 1 AM here.

Wish I had more time to write, guess I could write all day, specially with the ongoing situation, the way food prices soared recently up to 150 % in some cases, most going up “just” 50% or so.

Even though the farm strike is over, it doesn’t reflect on the prices. At least we do have food now on the supermarkets, and they took away the “3 item of the same maximum” signs which were pretty unnerving.

Hey, remember the little gold research I did some time ago in Libertad street, where all the jewelry and gold dealers can be found in the capital district?
Seems that they are getting hit pretty hard by criminals these days.
A couple days ago a shop owner got killed by a robber, and a cop that tried to stop it got wounded pretty bad, think he’s still in the hospital.

According to the news, these days in Argentina it is a MUCH better deal for criminals to rob one of these gold dealer and jewelry shops than a BANK! Go figure.
They say that these places have an average of 100.000 USD worth of gold merchandize, due to current gold prices.
It was kind of weird to learn that a dealer got killed on the same street I visited just a few days ago.
But that’s life, at least here.

People may be getting killed on the next block and you don’t even notice, or even care after it happens enough times.

3 comments:

Aequitas said...

FerFAL -

I've seen you post many times about currency - gold, fiat currencies, tradable goods - after SHTF.

What I'm interested in is knowing more about the financial situation leading up to and during SHTF. Did Argentina have a large amount of credit and credit card use? Did those institutions resume after SHTF, and did they still have records, etc. of their debtors?

This interests me because the vast majority of people in the US are now in debt. If it isn't their house debt, it's their credit card debt or debt on a vehicle or schooling. I'm primarily interested in what kind of tactics are used during and after SHTF to collect on this kind of debt (that you were aware of).

Anonymous said...

Che Ferfal:

estan disponibles en la Argentina las monedas de oro krugerrand, etc.

en mi pais son dificil de encontrar. La gente tiene sus ahorros en dolares escondidos en su casa por la desconfianza a los bancos. Incluso el Euro no circula mucho.

A mi gente, les he aconsejado que poco a poco conviertan su dinero en oro o euros...

que opinas al respecto? claro, uno tiene que tener una cuenta bancaria para ciertos tramites, aunque aca siempre reina el dinero en efectivo.

Anonymous said...

Al senor que dijo "convertir su dinero a oro o a los euros, le sugiero que se lo convierte a plata. Plata esta bien barato ahora, y es mas facil cambiar por las cosas que uno requiere.

Suerte.