Why does argentina support two currencies?

[Cangurito]

Argentina has a long history of currency instability. Simple as that. Only a fool saves large sums in pesos. At the time of the crisis the smart people had their savings in dollars, euros or pounds sterling in banks or financial instiututions outside Argentina. The amazing thing is that despite all the instability there were so many people who left money in local banks - and then got scalped when dollar accounts were changed to highly devalued pesos.

This makes a lot of sense.to me. Thanks.

 

[sergio]

Steve, Argentines who had their savings in real estate in Argentina have done quite well. The drop in values did not last very long. Since then property values have soared. The government never violated property rights when it came to real estate. Argentine investors who bought in markets like Miami, however, were hurt the same as Americans however some bought at low prices which greatly appreciated and then dropped. As for real estate in Argentina, even during the crisis property generated rental income. I don't see your point.

 

[TomAtAlki]

re Gold and silver. I don't know a whole lot but do be careful of the difference between the buying and the selling price of these commodities. I understand it can be huge - 25 to 30%. I've heard that buying gold mining stocks can work well. I personally don't own gold or stocks. Just Real Estate.

Tom