Banks and Currency dealers Export the Gold they can no longer sell in Argentina
The Argentine government has banned the saving in foreign currency some time ago. Like in Venezuela, if you are authorized to buy foreign currency because you’re traveling abroad it will only be authorized right before the flight and only minimum amounts, a couple hundred bucks or so. Once your back, the government will check how much money you spent, how much you have left (remember, you´re not supposed to “save” dollars anymore) and will check your credit card expenses which have been taxed with an extra 15%in the last few days.
Remember those debates about gold being a currency or not? Well, that debate is settled for the Argentine government: Yes, it is a currency. No, you cannot buy it unless you travel to a country that uses it. You may be wondering “But no country uses gold as currency….” Ok, so you cant buy it then. Genius. This is how they explain the new ban, given that after the USD ban people ran to gold to protect themselves, the sale of gold going up 400%. Little by little, they have closed all loopholes and windows.
So yes my friends, you’re banned from buying gold in Argentina now. If you’re over there, I hope you bought it while you could. When it all finally goes to hell in a blood-soaking basket you may be glad you had some set aside.