Good day fellow Argentinians.
As you can see on my profile I’m from Venezuela, and let’s say I have a “master degree” when it comes to live in a inflationary environment.
What it’s being said about taking debt it’s totally right, one can navigate the waves easily while knowing for sure that the money is going to inflate. In order to survive one must take a high time preference, meaning, one most buy as much goods/services as possible with the weak money, and take debt to buy the things before everything “goes up”.
There is no escape (well, for the ones that doesn’t now about Bitcoin) more than getting dollars/euros.
If history rhymes and this countries are playing the same game I’ll tell you what it’s next:
-Your money in local currency will depreciate even more (kinda obvious)
-government will start “controlling prices” making everything go up even more for those goods that are imported
-government will start putting a number on how many things you can buy per persona
-government then will blame US/CHINA/RUSIA (or whatever enemy they have in their playbook) for high prices, deflecting the attention of the masses towards them and not the fact they’re stealing and malversing with tax payer money and the country resources
-After a very long period of scarcity, everything will “go back to normal” until you see prices going up again
-Then slowly, merchants will start dollarizing more and more until your salary is in pesos and everything else is dollarized
-what’s next it’s even worst. The dollar in Argentina will inflate too. One thing that cost you $100 now will cost you $120 (don’t ask me how but that’s what happened in Venezuela)
-and that’s it, for now. That’s the current Venezuela
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