ARGENTINA INFLATION HITS 98.8% Y/Y.
What people in the G7 fail to realize is that the global sinking fiat ship is going down extremely hard for MOST citizens of the world. The demon they are dealing with is so obvious when 98% inflation eats every enterprise in sight. And the solution is just as obvious once they get their hands on it. Good luck trying to stop billions of eager people that get a taste of sound sailable money and free speech.
Thank god for Bitcoin and Nostr!
bullish, keep it comin
Argentina on fire 🔥, winning the World Cup, winning at inflation.
Strange BTC adoption isn’t higher there
probably cuz they have no working capital (all their income goes immediately to expenses and other assets they own are illiquid)
Wen more Nostr podcasts Preston?
Ugh I guess good for hard assets like BTC
Sucks for the reality of many living there are in similar systems.
*their or in similar systems
My energy bill went from $160 last year this time to $320 this year for the same house and heat.
Is this the equivalent?! But it would be EVERYTHING went up by basically 100% year over year?
everything they’re measuring anyways yeah :/
housing, power, food, education, healthcare, etc
Your fiat got debased 50%
Totally. I just want to try and put this into context. Understanding 98% inflation is a tricky thing
… but cpi is 6%
Jesus
In Venezuela we tend to say the the world is "venezuelizing" in real time. I can't even imagine the horror and frustrating of the people migrating, fleeing away of socialism and then realizing it's happening once again... Trust me, it's the same for cubans, they have been warning us for 2 decades already.YOU CAN'T simply plan the economy. Fuck this dystopia.
I can’t imagine 98.8% Y/Y, hope I never have to.
Wonder what the US number actually is?
Crazy, I'm from Argentina 🇦🇷
I know very well how to deal with it
I studied money so hard
How do you deal with money that loses 100% of its value every year? 😱
Creating something new
Opt out. ✌️
You buy BTC as quickly as possible.
Argentineans get #bitcoin their on-ramps not so much. Legacy’s clock is ticking closer to zero.
Those numbers are hard to imagine knowing how much people are struggling even in the US... Well said, #[1]. Big fan of the show 🤙
Great points, Preston. Love your stuff. My 65 yr. old mother says she likes listening to your voice. “I don’t understand all he’s talking about but I love his voice!” 🤷🏻♂️🤣
🤣!
I was recently in Argentina and anecdotally it was surprising how few people knew about bitcoin. They had a whole underground market for dollars everywhere. “The Blue dollar”. They definitely hated/distrusted banks there though.
Omg
Argentina has interest rate at 67.85%
How do I buy more Bitcoin when I have hardly any fiat left to buy more? Gahhh 😫
Preston, it seems like the entire WORLD fails to realize this and I can't understand why.
If inflation is so bad why aren't we seeing an absolute rush to the Bitcoin exit door?
Either Bitcoin is so obvious that it's hiding in plain sight or I'm crazy and this Bitcoin thing is all nonsense.
I really hope I'm not crazy. I keep consuming information on Bitcoin, world history, economic history, economics in general...
All signs point to Bitcoin. And yet...no one else seems to think so.
I feel like I'm taking crazy pills.
You're just early fam
problem is, when people are desperate they often don’t have time to explore alternatives. they just try and get dollars to scrape by.
should have taken out a mortgage denominated in pesos
I AM MISSING APACHE POSTS BY NOT BEING ON NOSTR ENOUGH 😱
And DCG is throwing anchors to the drowning people of Argentina with USDT. Argentina needs bitcoin.
Bitcoin is hope for Argentinians
The world can yet be saved by decentralization
Not just Argentina! This will be the fate of all currencies vs USD. Then finally the USD is eaten by Bitcoin
Your post is causing quite a stir.
Added to the https://member.cash/hot feed
Argie here🤙🧉🇦🇷, can confirm.
Nothing teaches Bitcoin like our FED equivalent printing at an ATH.
* * *
People seems to be antyfragile, in odd ways, you don't even need to understand Mises to know what money is better, in fact most of people here that flees to the dolar don't know a thing about economics or they got it backwards thanks to propaganda both in tv and the university.
Nontheless I see that the knowhow emerges really fast. As Andreas Antonopolus explained here @ (26:54) :
#[1]
I assumed that when this happened, they would understand Bitcoin & move their remaining wealth into sats.
What's interesting is that they're generally fleeing to the stronger fiat currency (USD).
I don't know at what point they realise that the USD is losing its value too?
too few understand that (yet). argentina is mostly centralized clown eth. ridiculous. they need to wake up
Agree on that... ETH circus is full steam in argentine
Crazy, fiat is theft.
wait til nostr and lightning hit the global south
The path is so clear now… going forward ⚡️
Zapped son⚡️
Standard racketeering operations
The problem is the giant IMF loan they are getting comes with a clause to block crypto in the country.
IMF is going to be a formidable foe
#zapped
Just wait a couple of months... 🇦🇷 inflation is manipulated, they look where the INDEC (https://www.indec.gob.ar/) get the price to calculate inflation and hard cap only those product price...
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