US$1 billion withdrawn from banks today

  • im wondering about what the new currency will be called......paragon, peso fuerte, Austral, Argentinian Dollar or or or

  • Micropeso?

    Of course not..... its supposed to be BIGGER than the current.....!

    So it will need a strong name.....I think the word peso was really never considered a "strong" currency in any country of the world......in northern Europe the word peso was used to make fun of worthless currencies.....

  • Adri has been playing the 'puree', the word used for buying official and selling blue.

    I had a few green-backs, sold some on Tuesday to pay for something hefty, but decided to put it on the card at zero interest in six payments, then buy green-backs again (with the pesos I had just bought) on the official and sell them again in blue when it reaches another high.

    Use the card, keep the dollars and whatever you do, don't keep them in the bank, but then you probably all know that already.

  • Adri has been playing the 'puree', the word used for buying official and selling blue.

    I had a few green-backs, sold some on Tuesday to pay for something hefty, but decided to put it on the card at zero interest in six payments, then buy green-backs again (with the pesos I had just bought) on the official and sell them again in blue when it reaches another high.

    Use the card, keep the dollars and whatever you do, don't keep them in the bank, but then you probably all know that already.

    Exactly, thats the trick..... the more peso debt u can accumulate, the better! Not joking!

    Small side note story to explain this:

    When I bought my piece of land in tigre 2008, I never really paid the municipality tax since 2012 more or less....the one monthly quote at that time: 78 pesos, round 4 USD! Start of this year I went to the municipality to arrange for a payment schedule of all debt......large amount. I got a detailed summary of all the debt positions....this one position alone with all interest and penalties for not paying: 370 pesos.....so round 4 USD!!!! So by letting the debt run, I reduced the real value of the debt with 75%! This is why Argentina is always bankrupt and will never change!

  • My mistake, but that's what happens when I read the drama queen news on TN.

    ♫ ♫ Let's all do the puree! ♫♫

    For me there are two things to consider.


    1. Is this transaction level normal (i.e., is $1 billion the norm over a 2-3 week period)?

    2. Are people getting worried because they see the writing on the wall?


    If we look at number 1, why would people be taking large sums of cash out of their bank? We are in a lockdown where spending cash is not that easy to do aside. In fact, during the lockdown it is much easier to avoid cash.


    I think number 2 is more likely and people are clearing their accounts and exchanging in whatever way they can. My wife argued she does not think this is the case because the limit for exchanging dollars is $200. However, $200 is now over 20,000 pesos a month.

  • All the "money" withdrawn the last weeks was not just money, but USD!!!!

    There is "money" and there is real money! Anyone having just one cent in the bank here must be an absolute moron!!!!


    Here the TN article:

    Usd outflow

  • So, businesses are clearly moving their money away. For the people who earn in pesos here, how concerned are you about the economic situation? Is it enough to make you consider leaving Argentina (whenever that may be possible)?

  • Just to give you an example, I know people close to me who rented a safe deposit box at their bank where they kept all their USD cash. They have now closed that box, cancelled the fees and withdrawn their cash. I'm talking about a local who is older than you or I and has seen it all before.

    Not exactly panic stations, but most people agree that the banks, by way of the government, cannot be trusted, especially in light of 2001.