Argentina's cashless king targets Latin America's unbanked millions

yea, I guess that's why crypto exploded here. No one trusts traditional banking.
 
This article mentions that they are in the process of acquiring wilobank
 
No one trusts traditional banking.

Yeah, a reloadable mastercard is from a non-banking entity is much more trustworthy for sure. Wait, they are buying a bank :)
 
Given the events of 2001, I think I can understand why nobody in their right mind trusts banks in this country.
Right on!

But, it's not the banks to distrust, it's the government that regulates the banks and their activity.

A minor detail, I know, but technically, it's the Argentine Federal Government that can't be trusted.

Over the past 2 decades, regardless of who was at the helm, just look at all the shenanigans they have been responsible for.

I am kind of amazed, yet not surprised, (There is a difference.) of how The ARG. GVT. quickly and decisively drafted, passed, then enacted this recent wealth tax. (I think of it as "The Passing of The Hat," to raise money to bail out the government (AGAIN!) in their effort to play Robin Hood during COVID. (Not to say that people don't need help, because they do. But it is the idea behind the act that bothers me.)

So if the previous is the case, and it is! How can you reveal your assets to these thieves and have confidence your turn to give at the point of a decree or new law won't leave your wallet or purse turned inside out? That is the question if you ask me.
 
Right on!

... it's the Argentine Federal Government that can't be trusted.
... then enacted this recent wealth tax. (I think of it as "The Passing of The Hat," to raise money to bail out the government (AGAIN!) in their effort to play Robin Hood during COVID.


Do you see much of a difference?
 
With respect to what you are pointing out? NO! It is more or less the same thing.

But when I was posting, I had something a bit different in mind. I was thinking back to the time when bank deposits and life savings were wiped in conjunction with the crisis of 2001.

I can't think of a time or an example when the US govt did something similar to it's people. (I am not sure the great depression of the 1930's qualifies.)
 
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