Argentines Flock to Black-Market US Dollars as Economic Woes Mount

https://msn.com/en-us/finance/markets/argentines-flock-to-black-market-dollars-as-economic-woes-mount/ar-BB136Cm0

Find more posts tagged with

Comments

Need @UW_Doog_Bot to learn us here....is the response to the Covid pandemic going to destroy half the worlds economies or what?

Pitchfork51

Need @UW_Doog_Bot to learn us here....is the response to the Covid pandemic going to destroy half the worlds economies or what?

No. It will usher in a glorious age of socialism

DerekJohnson

Need @UW_Doog_Bot to learn us here....is the response to the Covid pandemic going to destroy half the worlds economies or what?
No. It will usher in a glorious age of socialism

and China will be circling Central and South America like a vulture

UW_Doog_Bot

Need @UW_Doog_Bot to learn us here....is the response to the Covid pandemic going to destroy half the worlds economies or what?

It's going to ass-rape economies across the world and that's putting it lightly. Luckily, as I've mentioned elsewhere and as this example illustrates, US dollars and treasuries are IT. The US is probably the only economy that has a chance of reasonably weathering this as simply a "normal" recession other than I guess maybe Sweden?

The Fed could QE another 5 trillion and demand won't blink imo. Everyone in the world is rushing into dollars as the reserve currency because what else is there that's a stable hold of value? If anything, the FED is going to have to continue to print money just to keep liquidity in the markets as everyone holds their dollars. We MIGHT get inflation on the back end of that as everyone unloads their cash when things settle but I doubt it will be the kind we worry about since their will be a lot of deflationary pressure at the same time.

My major concern is that loads of this printed money is going to go to Wall Street, major banks, government entities, and major corporations which will exacerbate the wealth gap while main street is seriously in trouble from this. That in turn could lead to more populism and calls for socialism despite the fact that this is, in fact, how socialism works.

I wonder what @insinceredawg's thoughts are on the matter. I'm sure it's as deep as something HH or Bearswiin has on international monetary economics.

dnc

Need @UW_Doog_Bot to learn us here....is the response to the Covid pandemic going to destroy half the worlds economies or what?
No. It will usher in a glorious age of socialism
and China will be circling Central and South America like a bat

PurpleThrobber

Need @UW_Doog_Bot to learn us here....is the response to the Covid pandemic going to destroy half the worlds economies or what?
No. It will usher in a glorious age of socialism
and China will be circling Central and South America like a vulture

Like fuck they will.

Invacion!!!

UW_Doog_Bot

Weird silence in this thread from all of our resident economic experts.

GrundleStiltzkin

Need @UW_Doog_Bot to learn us here....is the response to the Covid pandemic going to destroy half the worlds economies or what?
No. It will usher in a glorious age of socialism
and China will be circling Central and South America like a bat

dnc

Need @UW_Doog_Bot to learn us here....is the response to the Covid pandemic going to destroy half the worlds economies or what?
No. It will usher in a glorious age of socialism
and China will be circling Central and South America like a bat

I thought you were gonna go with this

GrundleStiltzkin

Need @UW_Doog_Bot to learn us here....is the response to the Covid pandemic going to destroy half the worlds economies or what?
No. It will usher in a glorious age of socialism
and China will be circling Central and South America like a bat

I thought you were gonna go with this

So much for the Straight Outta Tha Lab correction.

HoustonHusky

Argentina going bankrupt is a 4 year reoccurring phenomenon...I love the fact that they defaulted on the bonds they issued in 2016 to get out of their last default. And they issued 100 year bonds with a straight face...and people bought them. Its a mess there...a simple example is power. As part of the market reforms people were going to have to actually pay power bills based on what they used at market prices. They hated it. When you are working with that mentality there is not much you can do...

MikeDamone

A multi year world wide depression will be worth it if it saves 1 obese 81 year old form dying this year of a a certain virus.

But TRUMP SAID INJECT LYSOL. derp derp

UW_Doog_Bot

@insinceredawg thoughts? Come on dazzler jr. it's time for some original thinking.

ThomasFremont

A multi year world wide depression will be worth it if it saves 1 obese 81 year old form dying this year of a a certain virus.

But TRUMP SAID INJECT LYSOL. derp derp

Trump can’t control a natural disaster/pandemic from happening. He CAN control the stupid shit that spews out of his mouth.

Other than that, great job pushing your little “rooting for an economic depression” narrative.

I thought you were against lies???

doogie

You deserve Joe Biden as your leader

ThomasFremont

You deserve Joe Biden as your leader

No. I don’t.

WestlinnDuck

Sure you do. Keep rooting for the away team. Trump deserves re-election just based on his opposition to the chicoms alone.

RaceBannon

Nobody ever makes an argument in favor of Joe

PurpleThrobber

@insinceredawg thoughts? Come on dazzler jr. it's time for some original thinking.

The use of "Dazzler" has a royalty-free period of usage right now. At least until the VID scare is over.

It's the least I can do. No, really, I can't do much less than that even if I tried (or didn't try hard as the case may be).

Sledog

Nobody ever makes an argument in favor of Joe

But the guzzlers will vote for him in lock step obedience.

UW_Doog_Bot

Nobody ever makes an argument in favor of Joe

https://www.youtube.com/watch?v=sD9d3TUYHNo

"These aren't bad people."

MikeDamone

A multi year world wide depression will be worth it if it saves 1 obese 81 year old form dying this year of a a certain virus.

But TRUMP SAID INJECT LYSOL. derp derp
Trump can’t control a natural disaster/pandemic from happening. He CAN control the stupid shit that spews out of his mouth.

Other than that, great job pushing your little “rooting for an economic depression” narrative.

I thought you were against lies???

It's well known and documented the left is rooting economic problems. Are you denying this?

PostGameOrangeSlices

I think of 4 things when I think of Argentina

1) hot chicks
2) Patagonia
3) corruption

4) them getting clown stomped in their own backyard by England. Oof

DerekJohnson

Nobody ever makes an argument in favor of Joe

Swaye

Need @UW_Doog_Bot to learn us here....is the response to the Covid pandemic going to destroy half the worlds economies or what?
It's going to ass-rape economies across the world and that's putting it lightly. Luckily, as I've mentioned elsewhere and as this example illustrates, US dollars and treasuries are IT. The US is probably the only economy that has a chance of reasonably weathering this as simply a "normal" recession other than I guess maybe Sweden?

The Fed could QE another 5 trillion and demand won't blink imo. Everyone in the world is rushing into dollars as the reserve currency because what else is there that's a stable hold of value? If anything, the FED is going to have to continue to print money just to keep liquidity in the markets as everyone holds their dollars. We MIGHT get inflation on the back end of that as everyone unloads their cash when things settle but I doubt it will be the kind we worry about since their will be a lot of deflationary pressure at the same time.

My major concern is that loads of this printed money is going to go to Wall Street, major banks, government entities, and major corporations which will exacerbate the wealth gap while main street is seriously in trouble from this. That in turn could lead to more populism and calls for socialism despite the fact that this is, in fact, how socialism works.

I wonder what @insinceredawg's thoughts are on the matter. I'm sure it's as deep as something HH or Bearswiin has on international monetary economics.

I like it when you finish up your posts by taking shots at people. I like that.

doogie

slinging arrows would have sounded less violent

PurpleThrobber

Need @UW_Doog_Bot to learn us here....is the response to the Covid pandemic going to destroy half the worlds economies or what?
It's going to ass-rape economies across the world and that's putting it lightly. Luckily, as I've mentioned elsewhere and as this example illustrates, US dollars and treasuries are IT. The US is probably the only economy that has a chance of reasonably weathering this as simply a "normal" recession other than I guess maybe Sweden?

The Fed could QE another 5 trillion and demand won't blink imo. Everyone in the world is rushing into dollars as the reserve currency because what else is there that's a stable hold of value? If anything, the FED is going to have to continue to print money just to keep liquidity in the markets as everyone holds their dollars. We MIGHT get inflation on the back end of that as everyone unloads their cash when things settle but I doubt it will be the kind we worry about since their will be a lot of deflationary pressure at the same time.

My major concern is that loads of this printed money is going to go to Wall Street, major banks, government entities, and major corporations which will exacerbate the wealth gap while main street is seriously in trouble from this. That in turn could lead to more populism and calls for socialism despite the fact that this is, in fact, how socialism works.

I wonder what @insinceredawg's thoughts are on the matter. I'm sure it's as deep as something HH or Bearswiin has on international monetary economics.

https://www.bloomberg.com/news/articles/2020-04-21/bofa-raises-gold-target-to-3-000-as-fed-can-t-print-gold

https://www.marketwatch.com/story/gold-3000-this-pattern-suggests-a-70-surge-from-here-makes-sense-2020-04-23

https://www.marketwatch.com/story/gold-3000-this-pattern-suggests-a-70-surge-from-here-makes-sense-2020-04-23

Like winter, inflation is coming. It's coming but it's about 18 months out. The Throbber has an acquaintance who closely follows T-Bills and gold prices and a bunch of other shit and he thinks it will be 12 months.

There's always crazy ass gold bugs out there - but this tim, there's really no alternative to the massive printing of paper by the Fed. China is kind of fucked - how are they going to buy more treasuries?

@UW_Doog_Bot -what's your take relative to the supply side? Right now, demand is low given nobody is doing shit...therefore prices are remaining low as well. Eventually though, people will get back to normal and they are going to be competing over the same relative supply with paper that has been devalued. Or at least that's how my peabrain sees it.

On a micro level, there's going to be some SCREAMING deals out there in the next few months. People who have lost their jobs will be ditching their toys - ATVs, boats, cars in order to buy groceries and keep their homes. A $1200 check signed by Donald J. Trump doesn't cover a $400 per month boat payment for very long (in fact, 3 months....MAFF!!).

Buy Buy buy!

WestlinnDuck

All those screaming deals means there will be very little interest in new homes, new cars, new RVs, new boats. What there is going to be a great deal of interest in is for the state and local governments to massively raise taxes to pay to keep their overpaid and under worked employees happy. The curve was bent but at the cost of trillions of dollars of current and future economic activity. Bending the curve was to save hospitals from being swamped not to stop the chicom crud. That's worked. It was just to spread out the infection rate. But I just heard Inslee saying that opening up would cost lives. So, stay closed, and push the infection to the next flu season and then shut down again? Leftards don't do science. They do fear and social control.

TurdBomber

I think of 4 things when I think of Argentina

1) hot chicks
2) Patagonia
3) corruption

4) them getting clown stomped in their own backyard by England. Oof

I think of two:
1) Maradona
2) Cocaine

UW_Doog_Bot

Need @UW_Doog_Bot to learn us here....is the response to the Covid pandemic going to destroy half the worlds economies or what?
It's going to ass-rape economies across the world and that's putting it lightly. Luckily, as I've mentioned elsewhere and as this example illustrates, US dollars and treasuries are IT. The US is probably the only economy that has a chance of reasonably weathering this as simply a "normal" recession other than I guess maybe Sweden?

The Fed could QE another 5 trillion and demand won't blink imo. Everyone in the world is rushing into dollars as the reserve currency because what else is there that's a stable hold of value? If anything, the FED is going to have to continue to print money just to keep liquidity in the markets as everyone holds their dollars. We MIGHT get inflation on the back end of that as everyone unloads their cash when things settle but I doubt it will be the kind we worry about since their will be a lot of deflationary pressure at the same time.

My major concern is that loads of this printed money is going to go to Wall Street, major banks, government entities, and major corporations which will exacerbate the wealth gap while main street is seriously in trouble from this. That in turn could lead to more populism and calls for socialism despite the fact that this is, in fact, how socialism works.

I wonder what @insinceredawg's thoughts are on the matter. I'm sure it's as deep as something HH or Bearswiin has on international monetary economics.
https://www.bloomberg.com/news/articles/2020-04-21/bofa-raises-gold-target-to-3-000-as-fed-can-t-print-gold

https://www.marketwatch.com/story/gold-3000-this-pattern-suggests-a-70-surge-from-here-makes-sense-2020-04-23

https://www.marketwatch.com/story/gold-3000-this-pattern-suggests-a-70-surge-from-here-makes-sense-2020-04-23

Like winter, inflation is coming. It's coming but it's about 18 months out. The Throbber has an acquaintance who closely follows T-Bills and gold prices and a bunch of other shit and he thinks it will be 12 months.

There's always crazy ass gold bugs out there - but this tim, there's really no alternative to the massive printing of paper by the Fed. China is kind of fucked - how are they going to buy more treasuries?

@UW_Doog_Bot -what's your take relative to the supply side? Right now, demand is low given nobody is doing shit...therefore prices are remaining low as well. Eventually though, people will get back to normal and they are going to be competing over the same relative supply with paper that has been devalued. Or at least that's how my peabrain sees it.

On a micro level, there's going to be some SCREAMING deals out there in the next few months. People who have lost their jobs will be ditching their toys - ATVs, boats, cars in order to buy groceries and keep their homes. A $1200 check signed by Donald J. Trump doesn't cover a $400 per month boat payment for very long (in fact, 3 months....MAFF!!).

Buy Buy buy!

Deserves long form response which I won't do on mobile so put a pin in it until Monday. Generally though, yeah inflation, but there's a lot of deflationary pressure AND there's a soaring demand for dollars internationally so don't expect the cpi to move much.

Buy buy buy BUT buy assets that will be accessible to an international market flush with dollars. Gold can be wonky bc it takes one regime change(hello NK) and the market can go sideways as people dump it to get out or buy a ton to smuggle.

The dow is going to soar when all those dollars circulate back in from overseas holding is what I see.

Just my opinions though, place your bets where you see them.

Comments

Swaye

Need @UW_Doog_Bot to learn us here....is the response to the Covid pandemic going to destroy half the worlds economies or what?

Pitchfork51

Need @UW_Doog_Bot to learn us here....is the response to the Covid pandemic going to destroy half the worlds economies or what?

No. It will usher in a glorious age of socialism

DerekJohnson

Need @UW_Doog_Bot to learn us here....is the response to the Covid pandemic going to destroy half the worlds economies or what?
No. It will usher in a glorious age of socialism

and China will be circling Central and South America like a vulture

UW_Doog_Bot

Need @UW_Doog_Bot to learn us here....is the response to the Covid pandemic going to destroy half the worlds economies or what?

dnc

Need @UW_Doog_Bot to learn us here....is the response to the Covid pandemic going to destroy half the worlds economies or what?
No. It will usher in a glorious age of socialism
and China will be circling Central and South America like a bat

PurpleThrobber

Need @UW_Doog_Bot to learn us here....is the response to the Covid pandemic going to destroy half the worlds economies or what?
No. It will usher in a glorious age of socialism
and China will be circling Central and South America like a vulture

Like fuck they will.

Invacion!!!

UW_Doog_Bot

Weird silence in this thread from all of our resident economic experts.

GrundleStiltzkin

Need @UW_Doog_Bot to learn us here....is the response to the Covid pandemic going to destroy half the worlds economies or what?
No. It will usher in a glorious age of socialism
and China will be circling Central and South America like a bat

dnc

Need @UW_Doog_Bot to learn us here....is the response to the Covid pandemic going to destroy half the worlds economies or what?
No. It will usher in a glorious age of socialism
and China will be circling Central and South America like a bat

I thought you were gonna go with this

GrundleStiltzkin

Need @UW_Doog_Bot to learn us here....is the response to the Covid pandemic going to destroy half the worlds economies or what?
No. It will usher in a glorious age of socialism
and China will be circling Central and South America like a bat

I thought you were gonna go with this

So much for the Straight Outta Tha Lab correction.

HoustonHusky

MikeDamone

A multi year world wide depression will be worth it if it saves 1 obese 81 year old form dying this year of a a certain virus.

But TRUMP SAID INJECT LYSOL. derp derp

UW_Doog_Bot

@insinceredawg thoughts? Come on dazzler jr. it's time for some original thinking.

ThomasFremont

A multi year world wide depression will be worth it if it saves 1 obese 81 year old form dying this year of a a certain virus.

But TRUMP SAID INJECT LYSOL. derp derp

doogie

You deserve Joe Biden as your leader

ThomasFremont

You deserve Joe Biden as your leader

No. I don’t.

WestlinnDuck

Sure you do. Keep rooting for the away team. Trump deserves re-election just based on his opposition to the chicoms alone.

RaceBannon

Nobody ever makes an argument in favor of Joe

PurpleThrobber

@insinceredawg thoughts? Come on dazzler jr. it's time for some original thinking.

Sledog

Nobody ever makes an argument in favor of Joe

But the guzzlers will vote for him in lock step obedience.

UW_Doog_Bot

Nobody ever makes an argument in favor of Joe

https://www.youtube.com/watch?v=sD9d3TUYHNo

"These aren't bad people."

MikeDamone

A multi year world wide depression will be worth it if it saves 1 obese 81 year old form dying this year of a a certain virus.

But TRUMP SAID INJECT LYSOL. derp derp
Trump can’t control a natural disaster/pandemic from happening. He CAN control the stupid shit that spews out of his mouth.

Other than that, great job pushing your little “rooting for an economic depression” narrative.

I thought you were against lies???

It's well known and documented the left is rooting economic problems. Are you denying this?

PostGameOrangeSlices

I think of 4 things when I think of Argentina

1) hot chicks
2) Patagonia
3) corruption

4) them getting clown stomped in their own backyard by England. Oof

DerekJohnson

Nobody ever makes an argument in favor of Joe

Swaye

Need @UW_Doog_Bot to learn us here....is the response to the Covid pandemic going to destroy half the worlds economies or what?
It's going to ass-rape economies across the world and that's putting it lightly. Luckily, as I've mentioned elsewhere and as this example illustrates, US dollars and treasuries are IT. The US is probably the only economy that has a chance of reasonably weathering this as simply a "normal" recession other than I guess maybe Sweden?

The Fed could QE another 5 trillion and demand won't blink imo. Everyone in the world is rushing into dollars as the reserve currency because what else is there that's a stable hold of value? If anything, the FED is going to have to continue to print money just to keep liquidity in the markets as everyone holds their dollars. We MIGHT get inflation on the back end of that as everyone unloads their cash when things settle but I doubt it will be the kind we worry about since their will be a lot of deflationary pressure at the same time.

My major concern is that loads of this printed money is going to go to Wall Street, major banks, government entities, and major corporations which will exacerbate the wealth gap while main street is seriously in trouble from this. That in turn could lead to more populism and calls for socialism despite the fact that this is, in fact, how socialism works.

I wonder what @insinceredawg's thoughts are on the matter. I'm sure it's as deep as something HH or Bearswiin has on international monetary economics.

I like it when you finish up your posts by taking shots at people. I like that.

doogie

slinging arrows would have sounded less violent

PurpleThrobber

Need @UW_Doog_Bot to learn us here....is the response to the Covid pandemic going to destroy half the worlds economies or what?
It's going to ass-rape economies across the world and that's putting it lightly. Luckily, as I've mentioned elsewhere and as this example illustrates, US dollars and treasuries are IT. The US is probably the only economy that has a chance of reasonably weathering this as simply a "normal" recession other than I guess maybe Sweden?

The Fed could QE another 5 trillion and demand won't blink imo. Everyone in the world is rushing into dollars as the reserve currency because what else is there that's a stable hold of value? If anything, the FED is going to have to continue to print money just to keep liquidity in the markets as everyone holds their dollars. We MIGHT get inflation on the back end of that as everyone unloads their cash when things settle but I doubt it will be the kind we worry about since their will be a lot of deflationary pressure at the same time.

My major concern is that loads of this printed money is going to go to Wall Street, major banks, government entities, and major corporations which will exacerbate the wealth gap while main street is seriously in trouble from this. That in turn could lead to more populism and calls for socialism despite the fact that this is, in fact, how socialism works.

I wonder what @insinceredawg's thoughts are on the matter. I'm sure it's as deep as something HH or Bearswiin has on international monetary economics.

WestlinnDuck

TurdBomber

I think of 4 things when I think of Argentina

1) hot chicks
2) Patagonia
3) corruption

4) them getting clown stomped in their own backyard by England. Oof

I think of two:
1) Maradona
2) Cocaine

UW_Doog_Bot

Need @UW_Doog_Bot to learn us here....is the response to the Covid pandemic going to destroy half the worlds economies or what?
It's going to ass-rape economies across the world and that's putting it lightly. Luckily, as I've mentioned elsewhere and as this example illustrates, US dollars and treasuries are IT. The US is probably the only economy that has a chance of reasonably weathering this as simply a "normal" recession other than I guess maybe Sweden?

The Fed could QE another 5 trillion and demand won't blink imo. Everyone in the world is rushing into dollars as the reserve currency because what else is there that's a stable hold of value? If anything, the FED is going to have to continue to print money just to keep liquidity in the markets as everyone holds their dollars. We MIGHT get inflation on the back end of that as everyone unloads their cash when things settle but I doubt it will be the kind we worry about since their will be a lot of deflationary pressure at the same time.

My major concern is that loads of this printed money is going to go to Wall Street, major banks, government entities, and major corporations which will exacerbate the wealth gap while main street is seriously in trouble from this. That in turn could lead to more populism and calls for socialism despite the fact that this is, in fact, how socialism works.

I wonder what @insinceredawg's thoughts are on the matter. I'm sure it's as deep as something HH or Bearswiin has on international monetary economics.
https://www.bloomberg.com/news/articles/2020-04-21/bofa-raises-gold-target-to-3-000-as-fed-can-t-print-gold

https://www.marketwatch.com/story/gold-3000-this-pattern-suggests-a-70-surge-from-here-makes-sense-2020-04-23

https://www.marketwatch.com/story/gold-3000-this-pattern-suggests-a-70-surge-from-here-makes-sense-2020-04-23

Like winter, inflation is coming. It's coming but it's about 18 months out. The Throbber has an acquaintance who closely follows T-Bills and gold prices and a bunch of other shit and he thinks it will be 12 months.

There's always crazy ass gold bugs out there - but this tim, there's really no alternative to the massive printing of paper by the Fed. China is kind of fucked - how are they going to buy more treasuries?

@UW_Doog_Bot -what's your take relative to the supply side? Right now, demand is low given nobody is doing shit...therefore prices are remaining low as well. Eventually though, people will get back to normal and they are going to be competing over the same relative supply with paper that has been devalued. Or at least that's how my peabrain sees it.

On a micro level, there's going to be some SCREAMING deals out there in the next few months. People who have lost their jobs will be ditching their toys - ATVs, boats, cars in order to buy groceries and keep their homes. A $1200 check signed by Donald J. Trump doesn't cover a $400 per month boat payment for very long (in fact, 3 months....MAFF!!).

Buy Buy buy!