Clearly you were right that
it was time to get out of Argentina.
They are having very high inflation once again. What did you see as the warning signs? How did you know it was time to bug out?
Also, do you know if people
in Argentina have taken to using Bitcoin as a store of value or for
trading? It seems like it could be
handy if you want to avoid pesos or to get money out of Argentina. Is it getting more popular fast?
Thanks,
-- Vince
Hello Vince,
The right time to leave
Argentina was right before the economic collapse of 2001, when you could have
left taking 1 US dollar for every Argentine peso you had saved during your
life. For those that didn’t leave then, 2002 was the year in which hundreds of
thousands escaped the sinking ship. Since then the country has been sliding
into an ever darker shadow of its former self, with rampant inflation, crime
and sociopolitical problems.
For years I kept waiting for
an opportunity to move to USA. Several times there were a few glimpses of hope,
someone being able to offer me the necessary work contract in America, but it
always ended up falling apart for one reason or another. It was number of events that made us see we
were running out of time.
Regarding crime and security
we realized we were no longer living. Constantly afraid to even walk around our
neighborhood and being careful where you went at all times. That level of crime
paralyzes you and you basically stop living just so as to survive.
The death of a friend of
mine from my shooting club was another slap that woke us up to the reality
around us: People were getting gunned down around us, it was a matter of time
until we ran out of luck ourselves.
Finally it was Cristina
Kirchners reelection the thing that made us understand we simply had no more
time left. Many statements had been made suggesting an eventual USd dollar ban
and tighter control over the media as well as the general population. You could see that they wanted to crack down
on the purchase of foreign currency, street currency dealers where getting
arrested and intimidated.
Because of all these reasons
I ventured to guess (and it turned out I was right) that the government was
simply waiting until they got reelected before taking some of the more unpopular,
draconian measures. Right after they won, in a matter of days the restrictions,
control and intimidation campaign was on full force.
Regarding Bitcoin, it has
received some attention in Argentina with about 10.000 users, given that people
are always looking for ways to escape from the Argentine peso. Bitcoin mining
was until not long ago fairly attractive. The price of electricity made Bitcoin
mining viable but in the last year with power prices rising and inflation
making mining hardware very expensive the interest in Bitcoin is slowing down
some. Bitcoin isnt as popular as in other countries but it is accepted in some stores,
even for the buying of real estate although on street stores its more of a
curiosity.
FerFAL
Fernando “FerFAL” Aguirre is the author of “The Modern Survival Manual: Surviving the Economic Collapse” and “Bugging Out and Relocating: When Staying is not an Option”.
1 comment:
Interesting, thanks!
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