Economic Collapse part 1:What happened in Argentina

After years of lending by the IMF and the peso pegged to the dollar, the situation reached a breaking point in 2001. 20% unnemployment, alternative bons like the Patacon and Lecop being printed since we couldn't print dollars. The elite had moved their money out of the country and when the average citizen tried to close his accounts, they were frozen, to later be converted to devaluated pesos losing 70% of their value. Argentina defaulted on its 132 billion usd debt, largest default in history.
www.themodernsurvivalist.com

Category:

People & Blogs

Tags:

• ferfal
• argentina
• argentine economic collapse
• 2001
• economic crisis

[artyfarty3]

I lived though high inflation in Poland back in the early 80's . I was lucky enough to migrate to Australia at the end of 1987 , lucky because it got worse in 1988 /9 . It hit hyperinflation , just like in Russia in 1990/91. I know what it means to stand 12 hours in a que for bread (1 loaf per person) and then finding out that they run out of it just b4 u get in to the shop . Mayhem , riots , law of the "jungle" is a daily scene . Stock up NOW ! im not kidding , it will get BAD ;(

[TheModernSurvivalist]

@artyfarty3 Poland is an interesting study case, lots of interesting people from Poland ;-)

FerFAL

[Survive2Day]

More great info. We will be needing this expertise in America very soon.

[TheModernSurvivalist]

@Survive2Day Thanks! We have to do another interview some other time!

FerFAL

[veritasfiles]

Is it better to have a cash stash, a precious metals stash, or some other kind of stash in the case of a collapse like Argentina's?

[TheModernSurvivalist]

@veritasfiles I suggest a month's worth of expenses and then precious metals, at least 20% of your savings in gold and silver. Keep in mind that gold is "lighter" if you ever are forced to evacuate on foot.

FerFAL

[aletool]

Don't be afraid look at what  Cristina is doing!!

[lucianarg30]

Portfolio....cash stah....gold....OK.

Try EATING that when no one will have food on their table.

Go ahead, start investing in commodities, its useless. When the SHTF you would rather eat than invest.

[Lesij]

@TheModernSurvivalist An ideal portfolio of my friend's uncle was 25% in gold, 50% in housing or land that can be lent and earn money ("retirement fund") and 25% in some risky but profitable investions. He was not a survivalist preparing for some scenario - he was just an old Jew with lots of personal experience... If expecting trouble, I think he would just go and sell all the risky investions for gold...

[Lesij]

@TheModernSurvivalist I agree! Althought I luckily haven't had that sort of experience (yet...) here in Central Europe, from experiences of our elders (the great crisis, WWII, communist regime) and few friends that had lived throught the Yugoslavian war in nineties, I got the same idea.

[yec1JF]

Thx 4 posting. Bullets/beans much better stock up than precious metals. IMO

[cshabcd]

I'm not saying your message isn't important because I think there is a huge "HEADS UP" opportunity here.....however, the power Elite love the USA too much to take all of their money out. Argentina was more about the Elite taking down the Argentine government because they didn't like the dictator at the time.

[ownerowner100]

YOUR UNDERSTOOD YOUR FINANCIAL SYSTEM VERY WELL. I live in Miami and I have dated lots of Argentinians, and many central and south Americans.

[artyfarty3]

@TheModernSurvivalist yeah , it was tuff times for the people in my homeland back then . I was quite young (i'm 38 now) and my mum (single mother) was really struggling to keep us both alive . I cry every time i think about it , but i guess what doesn't kill you only makes you stronger and life must go on . Now that i'm older i can draw lessons from Her and any adversities in my life seem insignificant in comparison . She is my mentor , my life - my everything .