Argentine peso on the way to above 70

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KDnR
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Argentine peso on the way to above 70

Post by KDnR » Thu Aug 30, 2018 10:51 am

I looked at Argentina years before as a potential country to move in. The more I study it, I saw that this is the place to avoid. All that they could do wrong to their economy they have succeeded to implement perfectly. Now their currency collapsing...

Several months ago, when the price hit 25 I was told that that is the top and it will settle there at least for some time. My reply was that based on the chart pattern it is going into 70-80 and then will see. Possibly much much higher.

But anyway, what do you guys think how that move will possibly have an effect on Chilean economy? Does anyone see any opportunity in this?

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Re: Argentine peso on the way to above 70

Post by KDnR » Thu Aug 30, 2018 10:58 am

Wow, after I posted price changed from 34 to 37.60. Just in minutes...

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Re: Argentine peso on the way to above 70

Post by KDnR » Thu Aug 30, 2018 10:59 am

Oh, my, in one min it is 38.5

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Re: Argentine peso on the way to above 70

Post by dmwbmw2 » Thu Aug 30, 2018 12:37 pm

Im seeing 39.8 already.

Really in free fall.

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Re: Argentine peso on the way to above 70

Post by admin » Thu Aug 30, 2018 2:12 pm

Do i hear 41?
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Re: Argentine peso on the way to above 70

Post by admin » Thu Aug 30, 2018 2:19 pm

Like i said on the other thread, the arg peso to dollar was 2 to 1 the first time i went to mendoza shopping in the middle of the first colapse (this century).

No country has had more defaults and economic crisis in history.

Just wait for the currency controls. Last time they did it, we had gringo clients fleeing argentina and having to barter to sell their properties and cars because they could not get the money out of the country.

Argentina will always be the falling knife. Dont try to catch it. Every single foreigner i have seen over the years get sucked in by argentinal's "opertunities", has lost somewhere between everything and almost everything.
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Re: Argentine peso on the way to above 70

Post by KDnR » Thu Aug 30, 2018 2:43 pm

Thanks, not trying to catch this falling knife. I had to go there a few times in the last year for visa purposes and I hate that place. The only benefit of Argentina is to go there ones in the while and appreciate Chile better. I went to Mendosa for a few days the first time and was happy to come back the next day and be thankful that I don't end up living there.

What I am trying to find out if there would be opportunities to buy heavy equipment for examples or other valuables. How did it work before?

For example, my brother in law that has a car dealership in Germany made huge profits on the collapse of a ruble in Russia a few years ago. He was buying luxury sports cars and was taking it to Germany by truckloads. Economy collapses, some people are on the hook and must pay the dollar-denominated loans back. The country becomes a huge liquidation place and each time when the money is lost someone else is finding it.

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Re: Argentine peso on the way to above 70

Post by admin » Thu Aug 30, 2018 3:47 pm

Get what you are saying, but for the most part no.

The big problem is the coruption. In a colapse, a gringo looking to buy something in argentina is like a dinner bell for the vultures to scam.
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Re: Argentine peso on the way to above 70

Post by KDnR » Thu Aug 30, 2018 4:23 pm

That is the primary concern...

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Re: Argentine peso on the way to above 70

Post by Donnybrook » Thu Aug 30, 2018 5:18 pm

If you are a middle class Argentine you know how to handle the roller coaster. You have done it before. If you are not familiar with how things work and monetary collapse is not in your DNA you don't stand a chance. Step away.

There are often bargains in hotel and restaurants for dollar rich tourists. That is about the only advantage you might have. But they raise the prices almost as fast as the peso falls so don't dawdle. But if you don't like the place…………...

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Re: Argentine peso on the way to above 70

Post by KDnR » Thu Aug 30, 2018 8:47 pm

Donnybrook wrote:
Thu Aug 30, 2018 5:18 pm
If you are a middle class Argentine you know how to handle the roller coaster. You have done it before. If you are not familiar with how things work and monetary collapse is not in your DNA you don't stand a chance. Step away.

There are often bargains in hotel and restaurants for dollar rich tourists. That is about the only advantage you might have. But they raise the prices almost as fast as the peso falls so don't dawdle. But if you don't like the place…………...
Yeah, they are trained it the national sport - defaulting.

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Re: Argentine peso on the way to above 70

Post by El Zorro » Thu Aug 30, 2018 10:35 pm

The underlying problem for Argentina has always been that everyone wants to live as a capitalist but expects the rest to be socialists. If that doesn't gum up the financial works, I don't know what will. Their underground economics principle is: “El vivo vive del zonzo, y el zonzo de su trabajo.”

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Democracy becomes a farce when politicians put themselves up for sale.

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