Everything gone to hell, again!

The peso is now 25 pesos per dollar and tomorrow Tuesday the 15.05 there will be over 20 billion dollars of Lebac notes that will expire ( can be rolled over) Many people say that the peso can reach 30 pesos with further devaluation possible
 
The inflation has nothing to do with the usd, instead is related to the monetary base and the data on inflation is fake.
The exchange rate is lagged and to become more competitive it has to at least catch up with inflation. Of course this is not the reason why we are undergoing a brutal devaluation.
 
Today Santander Rio Bank refused to sell more than 3000 usd. The corralito began.
 
The peso is now 25 pesos per dollar and tomorrow Tuesday the 15.05 there will be over 20 billion dollars of Lebac notes that will expire ( can be rolled over) Many people say that the peso can reach 30 pesos with further devaluation possible

It might rise a 30%.
 
Today we went to exchange $500 for Pesos at a Casa de Cambio in Belgrano. Waiting in a long queue with locals waiting to buy dollars, we offered to exchange our crisp new $100 bills straight from our Uruguayan bank for their torn, tattered Pesos at a mid rate beneficial for both parties. The Argentinians all refused our offer, claiming the our Dollars were too “new” for their liking, and exhibited a preference to continue waiting in their queue to buy “old” Dollars at a worse rate. Once it was our turn at the exchange window, the Casa de Cambio refused to exchange our Dollars because my wife's Uruguayan passport and Cedula were apparently not sufficient proof of her legal status in Argentina, only the flimsy, white entry document/ receipt issue at the border, which we did not have with us, would suffice to prove our worthiness to exchange our foreign Dollars for their beloved Pesos . Dejected, we went home and were only able to exchange our rejected Dollars at the local “Chino” who apparently had no problem with either the newness of our Dollars or our documented immigration status.

From our experience, I learned several important lessons in Argentine Financial crisis management:
1. The Argentine in the street prefers to waste time waiting in a queue to overpay for an inferior product, rather than take any initiative to work for a mutual benefit.
2.Despite a grave and urgent need for Dollars by Argentina in the midst of a hard currency financial crisis, mindless bureaucracy still triumphs over common sense and logic.
3. There is no viable path to the “gradual reform” of the Argentine mindset of contagious mass panic, mistrust of his fellow Argentine, over reliance on stifling bureaucracy and an inability to compete in a world market of more entrepreneur minded peoples, if only epitomised by the local “Chino”.
 
From our experience, I learned several important lessons in Argentine Financial crisis management:
1. The Argentine in the street prefers to waste time waiting in a queue to overpay for an inferior product, rather than take any initiative to work for a mutual benefit.
2.Despite a grave and urgent need for Dollars by Argentina in the midst of a hard currency financial crisis, mindless bureaucracy still triumphs over common sense and logic.
3. There is no viable path to the “gradual reform” of the Argentine mindset of contagious mass panic, mistrust of his fellow Argentine, over reliance on stifling bureaucracy and an inability to compete in a world market of more entrepreneur minded peoples, if only epitomised by the local “Chino”.
Its funny because its true - this place and majority of the people live in a utopia. They dig their own holes and only need to look in the mirror to see the reality they created. It's sad because they do offer a lot once you are in the 'circle'.
 
Common guys. Use some common sense! Any reasonable person should refuse to exchange pesos for dollars with a total stranger. Fake news, fake dólares do exist. In California it’s very difficult for any business to accept a $100 dollar bill. Be smart and don’t do business with strangers. Better to wait in line than to be cheated.
 
Artigas and somewhere in ba: when you pay for something and the clerk returns your change without counting it , do you count it or just trust who ever gives it to you? The other day I paid some where with a $100 dollar bill, but first the inserted it in a machine to verify it was not bogus.

When your bill is given to you at a restaitantJust pure common sense.
 
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