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Argentina Introduces 2,000 Peso Banknote. It’s Worth About $4
- aaron695 3y ago[dead]
- memetcn 3y agoIn Turkey, our largest denomination banknote is 200 TRY. It was launched in 2009 and was equivalent of 130 USD back then. Right now it's equal to 9,3 USD. High inflation is a horrible thing to go through.
- tibbydudeza 3y agoHow do people survive ???. I know in Venezuala people barter and trade used good bypassing the formal economy.
- Jtsummers 3y agohttps://archive.is/CylSl https://archive.is/CylSl
- WhereIsTheTruth 3y agoI wonder if their economy has an impact on the price of lithium and whether or not this was made on purpose to counter China's plan, if so, then by whom and how? I still find it hard to believe that they reached triple digit inflation, especially now that COVID is in the past.. That reminds me of DRC Congo, lot of gold, yet a very poor country, at the mercy of foreign interests
- boeingUH60 3y ago> That reminds me of RDC Congo, lot of gold, yet a very poor country, at the mercy of foreign interests. No, at the mercy of inept and foolish local politicians that foreign interests take advantage of.
- 20after4 3y agoAccording to [1] they may be not so much inept as heavily coerced under threat of violence. [1]. Confessions of an Economic Hit Man by John Perkins https://en.wikipedia.org/wiki/Confessions_of_an_Economic_Hit_Man https://en.wikipedia.org/wiki/Confessions_of_an_Economic_Hit...
- WhereIsTheTruth 3y agoThat's true, that's perhaps what I should have wrote
- jeromegv 3y agoInflation has been going on for decades way before lithium was a factor. Covid is not what caused it.
- baremetal 3y agoInflation has run at ~2-3% since the 1990's.[1] And according to that chart, inflation took off in 2020. You might want to check your reasoning on this issue. [1]https://fred.stlouisfed.org/series/FPCPITOTLZGUSA https://fred.stlouisfed.org/series/FPCPITOTLZGUSA
- TheGigaChad 3y ago[dead]
- poo-yie 3y ago[flagged]
- seanmcdirmid 3y agoUS inflation got to 14% in 1980 and people cried bloody murder. It hasn't gotten that bad yet this time around, but I don't think there is much appetite for hyper inflation in the USA, let alone a repeat of the 70s.
- credit_guy 3y agoI don't think so. People don't give Jerome Powell the credit he deserves. I think he (and the Fed as a whole) will stick to their guns, they'll raise rates and keep them high for much longer than people expect. And they'll put a lid to inflation pressures. Of course, they'll be criticized by lots of armchair quarterbacks that they are destroying the economy, they are lackeys of the rich, or god knows what, but they'll do the job they are supposed to do, fight inflation. They've been doing this for more than a year now.
- gjsman-1000 3y agoI would believe that except that the rate hikes have no endgame. If he let the rates decline - wouldn’t inflation start again? It’s like having a car with brakes and a stuck gas pedal. You can get the car to slow down but you aren’t really in control…
- credit_guy 3y ago> If he let the rates decline - wouldn’t inflation start again? Maybe it would. But why exactly are rates supposed to be low? Historically 5% rates were, if anything, low not high.
- refurb 3y agoRelative to what currency exactly?
- 3y ago
- fauxpause_ 3y agoI was thinking of going to Argentina later this year. Would that be a bad idea?
- beckingz 3y agoHighly recommend it.
- ss108 3y agoFriend of mine went last month, seemed to have no issues.
- QuarterReptile 3y agoAs I understand, the economy mostly runs on gray market US currency (gray market because the Argentine government doesn't acknowledge real exchange rates and sometimes takes capricious action against US currency use.)
- tomwheeler 3y agoThere is the official exchange rate set by the government and a number of other rates for various purposes. The two of relevance to someone visiting from the US on vacation are the "blue dollar" (a black market exchange rate that's basically double the official rate) and the MEP rate (exchange rate used by some, but not all, purchases on American credit cards). You can read more about these here (https://solsalute.com/blog/money-in-argentina-currency-exchange/ https://solsalute.com/blog/money-in-argentina-currency-excha...).
- tomwheeler 3y agoI went to Buenos Aires on vacation earlier this year (late February / early March). I had a wonderful time and would have no hesitation about going back. There were a few annoyances, such as the different exchange rates and it being nearly impossible to buy a subway pass, but otherwise no more challenging than anywhere else.