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Author Topic: Argentina struggles with yet another financial crisis!  (Read 213 times)
Kemarit
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September 07, 2018, 02:00:14 PM
 #21

Probably people behind the government is to blame for what's happening in Argentina. I read that IMF loaned them $50 Billion, but I'm sure that its not enough to at least hold their economy as hyperinflation trickles down to every person in the street. Crypto won't help them either, it just a tool to help Argentinians to fight this crisis, just like what Venezuelan did. 2 years ago, every one thought that the government can turn things around but they aren't up to the economic challenges, I just hope that they won't turn into another Venezuela. Cry

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September 07, 2018, 11:59:16 PM
 #22

Argentina struggles with yet another financial crisis! Is it time for the Argentinians to create their own crypto community currency instead of repeating hyperinflation once again? In Nairobi Kenya, Bancor has started an initiative for the local citizens to trade tokenized community currencies peer-to-peer without counter party risks. While Argentina is suffering with Dejavu.
https://www.reddit.com/r/cryptocurrencynews/comments/9dfr3j/argentina_struggles_with_yet_another_financial/

I don't believe having a national crypto community is going to be the answer to all of their problems, obviously.

What matters is whether individuals do something to hedge against their country's depreciating fiat currency, which has seen some extraordinary hyperinflation in its past.

People need to start realising that they're still not safe with storing wealth in their Pesos, and they need to put some of their savings in alternative assets like bitcoin, or gold, so that when another crisis does come, they are able to have some leverage in terms of savings in independent assets. What's happening is Kenya in that regard is completely irrelevant to the situation in Argentina right now.

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September 10, 2018, 10:52:34 AM
 #23

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the real problem is that the government has borrowed so much. They are borrowing, central government borrowing has gone from $63 [billion] to over $140 billion. And they really didn’t have to do it. And they’ve burned through their central bank reserves, as well, at a high rate.
Ok, so, it's just a matter of cutting down costs for the government sector. I've seen this before in other countries.

Usually if a socialist party ends up in power, they start increasing the wages of the people working for the government and they also increase social security spending.

I bet it's the same story in Argentina too and this is why they are borrowing too much money and don't start cutting down expenses.

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September 10, 2018, 12:58:28 PM
 #24

Argentina struggles with yet another financial crisis! Is it time for the Argentinians to create their own crypto community currency instead of repeating hyperinflation once again? In Nairobi Kenya, Bancor has started an initiative for the local citizens to trade tokenized community currencies peer-to-peer without counter party risks. While Argentina is suffering with Dejavu.
https://www.reddit.com/r/cryptocurrencynews/comments/9dfr3j/argentina_struggles_with_yet_another_financial/

Venezuela already tried to release petro currency. Petro is cryptocurrency but the problem is internet connection on venezuela is not spread evently. Beside that, not many peoples knowing about petro. I am believe if internet infrastructure going better, government can releasing their own crypto and make their own become stronger

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September 10, 2018, 01:27:09 PM
 #25

Argentina’s history has repeatedly fallen into a debt crisis, and the Argentine economic collapse seems to be slipping into a new economic crisis.
The failed countries, Argentina, and Venezuela have abundant resources, but the people are too lazy!

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September 10, 2018, 01:40:06 PM
 #26

It is not only Argentina, there are many countries are suffering financial crisis such Venezuela and see for the next countries. It is caused of US create a policy and regulation in trading commodity. The president of United State delimits or bound the import commodity and rise the taxation of it. It is as the impact of trading war with China. Argentina and other countries should limit of consuming, and not to buy import things to make the stability of the economic.

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September 10, 2018, 01:54:09 PM
 #27

Argentina struggles with yet another financial crisis! Is it time for the Argentinians to create their own crypto community currency instead of repeating hyperinflation once again? In Nairobi Kenya, Bancor has started an initiative for the local citizens to trade tokenized community currencies peer-to-peer without counter party risks. While Argentina is suffering with Dejavu.
https://www.reddit.com/r/cryptocurrencynews/comments/9dfr3j/argentina_struggles_with_yet_another_financial/
Why they need to create a new crypto since we already have 1800+ active cryptos in usage for now,is it not enough for the argentina people to adopt to the new system if they are willing to move to cryptos to save themselves from crisis.But I don't think the cryptos are not yet ready to be an alternative when there is economic crisis occurs they might move towards gold or the USD which are considered as the standard value by most of us.

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September 12, 2018, 06:09:24 AM
 #28

Argentina struggles with yet another financial crisis! Is it time for the Argentinians to create their own crypto community currency instead of repeating hyperinflation once again? In Nairobi Kenya, Bancor has started an initiative for the local citizens to trade tokenized community currencies peer-to-peer without counter party risks. While Argentina is suffering with Dejavu.
https://www.reddit.com/r/cryptocurrencynews/comments/9dfr3j/argentina_struggles_with_yet_another_financial/
You have quite a good plan, but I won’t really suggest that people go for Bitcoin due to it has a high volatility, I’d rather prefer to invest my money in Gold cause it is stable and retains its price for long without going down. And if you hold it for a long time the price/value will increase also.

Bitcoin can also increase, but there is are chances that it may not. Other ways can be by buying properties and stocks, including foreign currencies and alternative assets.

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September 12, 2018, 06:37:42 PM
 #29

It is not only Argentina, there are many countries are suffering financial crisis such Venezuela and see for the next countries. It is caused of US create a policy and regulation in trading commodity. The president of United State delimits or bound the import commodity and rise the taxation of it. It is as the impact of trading war with China. Argentina and other countries should limit of consuming, and not to buy import things to make the stability of the economic.
Normally, with the whole trade war and external headwinds in most countries, such as US fed normalization, trade conflicts, tapering of ECB and so many other things are actually hitting on some countries that actually cannot be able to stand on their own. Usually, a lot of monetary policies when it comes to fiat on its own have always caused a whole lot of these things, and this was the reason why satoshi came up with this idea of having a decentralized entity in the first place.

I don't think the cryptos are not yet ready to be an alternative when there is economic crisis occurs they might move towards gold or the USD which are considered as the standard value by most of us.
Asides that, creating a new crypto will really not be helpful in anyway and it is not like whatever will be created will end up decentralized anyway as it would only just be the digital version of fiat. Monetary, economic policies and so on, will still always find a way to jeopardize a lot of things as long as it is fiat related. Probably, if the country can get to allow the usage of crypto, find a way to regulate it, get to see a lot of people tending to utilize it to reduce the pressure on their currency and economy, probably that would help.


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September 13, 2018, 08:47:46 AM
 #30

I wonder what is causing this hyperinflation in Argentina. I know it was the same story back in 2016.

They are saying the video that political decisions are causing this but usually only happens for countries that are in a "direct" conflict with the US like Turkey or Iran and this usually happens once in a decade not every two years.
More likely, Argentina had gone through bad luck since their local currency, peso is struggling from losing its value over dollars, before you can buy 1 dollar with your 17pesos but now you should have 22pesos. Plus natural calamity strike the country with drought affecting soy beans, which one of their leading export product, in which turn the whole nation, fall.

This is all natural occurrence in every country, though it's hard to recover I'm sure there's American government that will help them since they have maintained bilateral relations.


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September 13, 2018, 08:58:11 AM
 #31

In case that they are in a financial crysis as hyperinflation, I don't think that having their own cryptocurrency to replace their current system will be of any help. They need to focus on their financial situation first as adopting crypto to help with their situation would be counter-intuitive as there would be lots of interconnected systems like the government and banks to update. And if it fails, crypto will be blamed which would further hurt our cause.

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September 13, 2018, 09:03:12 AM
 #32

I respect your love for the crypto currencies but I dont think it is the best way to go around it. The number one reason for this is, crypto currencies will divert the national investment into international one as well as into the currency which is decentralised and works on the peer based system. This wont take them out of the crisis but may push towards it as they will be devaluing their own fiat currency by investing in another one and thus may get more troubling time upon them. This is not the way one follows the crypto, its entirely different world and its not any kind of back up.

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September 14, 2018, 07:00:26 AM
 #33

Argentina’s history has repeatedly fallen into a debt crisis, and the Argentine economic collapse seems to be slipping into a new economic crisis.
The failed countries, Argentina, and Venezuela have abundant resources, but the people are too lazy!
This cannot be ignored and a nation falling into a pit of financial crisis can be the one which do not produce its own goods and services and rely on others. In other words, your balance of payment will be negative if your exports are more than your imports.

There is a book called the house of Debt written by Dr. Atif Mian a US based economist who explains the problem and give solutions how to escape this crisis and how can the policies be formulated keeping the guidelines in mind.

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