Anyone hear from Argentina lived through a sovereign default?

Just wondering about this - inflation - hyperinflation - devaluation - sovereign default - food purchasing - liquidating gold and silver - foreign bank account access

Be interesting if anyone is here from Argentina?

 

Maybe Thor122? - lives in Argentina

 

Read www.ferfal.blogspot.com

He is an Argentine national who survived their meltdown and lived on for about ten years before deciding there was no return from the path they'd taken and moved to Ireland for a better life for his kids.

Lots of good advice about living in the immediate aftermath, things to do when you see the writing on the wall etc. His posts on how to deal with bank runs, trading afterwards etc I think are invaluable.

 

Yep, Thor122 would be one of the best people on this Forum to talk to regarding the Argentinian crisis.

 

They used to have a reasonable Rugby Union Team..bit too noncredo with their fake soccer style penalty seeks?

What happened to the Puma's?

 

The pumas are playing in the expanded 3 nations this year. i.e. The 3 nations tournament is now the 4 nations tournament. Aus, SA, NZ and Argentina.

 

I just came back from Argentina and it seems to be ticking along pretty well. Moving to Ireland who are in far worse condition is not really giving your kids a better life.

 

Im here. Only ask. Im a financial and tax advisor here.
Now argentina is going to other crisis again (one each 10 to 13 years). The real inflation for the last two years go for 20/30 % year. And now is 30% january to april.
Plus the goverment ban the buy of foreign currency in banks, oficial trading desks thursday may 10th. In two days the paralell (no oficial or black dollar go from 4,70 to 5,50) and now is 5,65. The oficial continue in 4,45 but nobody can buy it. Nobody can use the debits cards outside the country, but for now can use the credit card and pay the oficial value of the dollar. I think if the goverment dont wake up we will equal the venezuela government. The note of mayor denomination is 100 pesos (22 uss or less). You need a lot of 100 pesos to make a buy in the supermarket for a month of living (3000 to 5000 pesos) 30 to 50 notes. Here we dont use much the debit and credit card. Use more cash. To 2014 they will need to print the 200 and 500 pesos notes because if not we will use only 100 pesos. But the goverment dont like to print the mayor denomination because they exposed the real inflation and not the indec (goverment inflation less than 10% year)
In year 2001 you can make the month buy in the supermarket for 100 to 200 pesos (equal 100 uss in this time)

 

Thanks Julie thanks for the link.
Hi Thor122. Hmm Having Second thoughts about posting - do not want you bombed by a drone or anything.
Did you lived through the other defaults of the 90s?
Do you think that things will get better? Military Coup? Change of Government?
Do you have an exit strategy for yourself or your children?
Can you buy Gold or Silver, Platinum or Palladium Coins? Can you buy foreign currencies?
Do you have foreign banks there? Can you open accounts in those banks in other currencies?
Are you able to form neighbourhood groups with like mind people or Church Groups to help pull together?
Is it legal to store food?
Can you own a gun and ammo?
I do not know if you have ever watched Glenn Beck - his clips on youtube go through these items - but it is another thing to actually live through it.

 

Depends on what part of town you live in really. He has a long rationale of why he chose Ireland vs Spain vs Australia etc and part of it was the rising crime in Argentina and the relatively few social problems in Ireland. If the choice is defending your home from drugged up criminals who'll carjack and invade at first opportunity, perhaps the thoughts of the relatively quiet and civilised streets of Dublin were quite attractive.

I do remember part of his rationale was his EU access to Ireland.

 

I spent a year in South America in 1976 and the inflation rate in Argentina had to be seen to be believed. It was a bad time for Argentina and Chile. In Argentina in 1976 they were rounding up all the left wing supporters put them in a military transport planes and flew them out over the south Atantic and fed them to the sharks.

Kind Regards
non recourse

 

[youtube]http://www.youtube.com/watch?v=adUPdnzCAk8[/youtube]

The original of course!

 

They must have stuffed that up NR because I am sure that would work here

 

Mate it was no joking matter. Mans inhumanity to man. Killing someone because you don't agree with their politics is sick, which ever side of the political spectrum you are on.

Kind Regards
non recourse

 

Thanks Julie thanks for the link.

I read the blog for a few minutes and i think is only publicity to buy the advertisement in the website. I think is trash.
Sorry. but i living here at same time and only have a few steals at supermarkets (i think organized to break the government "of the la rua"
Same of the two "inocents" killing by the police. It cost the president the presidency.

Hi Thor122. Hmm Having Second thoughts about posting - do not want you bombed by a drone or anything.

Who will bomb argentina? A lot of farms and lands here in the south are in europeans and yankees hands.

Did you lived through the other defaults of the 90s?

Yes. All are the same. The goverment and people dont learn nothing with the others times but allways is the same.

Do you think that things will get better?

Here the inflation is the normal thing the anormal are the 1991 to 2001 (with the usa and europe inflation: less than 7/10 % year )

Military Coup?

Not

Change of Government?

Not yet.

Do you have an exit strategy for yourself or your children?

For what? War?

The crisis is normal here and i like a lot my country. We need a few japanese to rule the country and we will the first country in the world. Here the country is very rich. The problem is the people in the goverment.

Can you buy Gold or Silver, Platinum or Palladium Coins?

Here the normal saving is in uss and a few people in euros. The mayority save in uss. When the crisis begin the people take the uss and hidden it in safes, safes in banks, beds, and a lot more.

Can you buy foreign currencies?

Now not. But until thursday may 10th. Yes.

Do you have foreign banks there?

Yes. Citi, hsbc, bbv, itau, and a lot more but they are only "sucursales". the matrix house dont answer with funds only local funds. (remember corralito in 2001?)

Can you open accounts in those banks in other currencies?

Yes in uss. But when the crisis escalate the goverment confiscate the uss and give to the owners bonds with 10 years of live.
A few days later you can buy the bonds for 40/50% of the value. Because nobody think the goverment will pay the rent in the bonds and when finished is possible to change for long bonds.

Are you able to form neighbourhood groups with like mind people or Church Groups to help pull together?

We make it all the time. Not only in crisis time.

Is it legal to store food?

Yes. But the food here is very cheap. You can plant tomatoes in the balcony.
In the crisis the food up in price but dont dissapear. When here we have hyperinflation. We goto the supermarket the day we have the pay. Because the prices are raising day after day.

Can you own a gun and ammo?

I need to make a lot of paperwork to have it. And if you kill a thieve inside your home. You need to pay the widow and childrens.
Its a crazy thing here. The thieve is out the jail in a few months, years and the innocent people who kill a thieve need to have a trial in a judge and pay good lawyers to not go jail. And after it need to move to other neighboord because the revenge of the brothers, sons, friends.

I do not know if you have ever watched Glenn Beck - his clips on youtube go through these items - but it is another thing to actually live through

No. I dont watch it.

 

It's like that in Australia unfortunately.

 

need a few germans it seems japanese have an economy that's on a respirator since the 90's

 

Places like Argentina that go through these crisis so often have the perfect opportunity to go on a gold standard after a major default. Hyperinflation problems fixed over night.

 

I talk integrity. Not economy.