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No, the key is that people in failing Latin America countries have a competing stable currency that can help them keep their wealth from being stolen or manipul
by psychlops 6y ago
No, the key is that people in failing Latin America countries have a competing stable currency that can help them keep their wealth from being stolen or manipulated by those in power.
This option never existed before.
- arcticbull 6y agoThey couldn't buy assets? They couldn't buy gold or stonks or bonds? The currency is irrelevant, if you exchange it for assets as soon as you get it net of your expenses.
- petre 6y agoGold is impractical, can be easily confiscated and no they could not buy stocks and bonds other than Venezuelan style stocks and bonds if you know what I mean.
- psychlops 6y agoOr in other words, "Qu'ils mangent de la brioche."
- arcticbull 6y agoWell, I'm not exactly suggesting they eat cake (btw, I didn't realize she actually said brioche - TIL!), I was asking if there were other alternatives. There may not have been. With that in mind, my position has always been: if the currency is failing, it's because the government is failing. If the government is failing you have bigger problems than your currency. Once you remediate the government, your currency is no longer a problem.