Friday, November 9, 2018

Interview I did with Lynette Zang for ITM Trading.

Interview I did with Lynette Zang for ITM Trading.

About the mortgage question I didnt get to answer correctly (happens sometimes during interviews, you just mess up) First keep in mind that Argentina isnt USA and banks just dont go arounf giving money.

Very few people had mortgages to being with. Those that did though, for most people the mortgage either stayed in US dollars or was converted to the new currency rate, so a lot of people could not pay it. Having gold or silver would have been ideal because these kept their value, parity with dollar and basically the rest of the world as the Argentine peso collapses and you can sell your PM for whatever currency equivalent you have that day and pay your debt.

So yes, even if banks closed, which they did, but eventually reopened even if accounts stayed frozen, your could sell your PM in any dealer, (have cash in hand, which you quickly want to spend due to inflation) adn pay any debt or buy anything else you needed.

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