Argentina's Currency Black Market • Hacker News Board

Re: Argentina's Currency Black Market

#111

Post by dysoco » Tue, Oct 29, 2013, 8:52 PM UTC

conanbatt wrote: post #76

dysoco wrote: post #75

By the way, this not only applies to Dollars, but also to other currencies like Euros (Although we barely buy those, since we don't need them). We also have problems buying online, for example, if I buy something on Steam, since the money is going outside of the country, I have to pay 20% more in taxes (I think that's the correct number) although we get the official dollar price.

Thats not a problem, its an opportunity. You are able to pay things in dollars at a much lower rate than the illegal dollar.

So? It's still more expensive than the official price (of the product), since I pay 20%+ more.

Re: Argentina's Currency Black Market

#112

Post by JVIDEL » Fri, Nov 01, 2013, 1:46 PM UTC

Fargren wrote: post #108

chii wrote: post #95

Earlier quoted context omitted.

how does this happen? How can wealth be sapped like this over a few decades? is it because of true malice, or incompetenance? What would one do to try and prevent such from happening in one's country?

This has been going on since the sixties. Half a century is not "a few decades". The military regime got entangled with fights against the syndicates (which were a strong political force back then, and are mostly toothless now, with the exception of the truck-transport syndicate), and dismantling the national industries was used as a resource to weaken them. Also, they systematically killed and "disappeared" basicall…

The problem is that nothing ever gets done in this country, the Alianza sole purpose was to fight corruption and they didn't do anything, the FPV has been riding the gravy train like the oligarchs did a hundred years ago and just putting patches on everything.

The military made a disaster but that was almost 40 years ago. Japan was razed to the ground after a devastating war brought by a military dictatorship and 20 years later they were already considered an economic miracle.

Re: Argentina's Currency Black Market

#113

Post by wslh » Sun, Nov 03, 2013, 2:11 PM UTC

bedhead wrote: post #87

wslh wrote: post #35

Earlier quoted context omitted.

No, the problem is structural: bad routes, no security, no mobile infrastructure, no energy (I am not talking about potential energy), bad education, bad transport of goods between cities. And I am not talking about corruption yet... you can bribe anybody in a direct way with witnesses around. You can say that Argentina has all the ingredients to be a first world country but it is just a hope to be at that point. For…

Bad routes - If you mean what I think you mean this is irrelevant. No security - I am not sure what you mean but I think it's irrelevant. If shopping centers need tons of security to function, this is the effect of economic policy, not the cause. No mobile infrastructure - This is the effect of economic policy, not the cause. No energy - First of all, wrong. Argentina is rich with natural gas and oil. But policy has…

I don't get you reply. I was not writing a formal proof in my comment. Can you elaborate your ideas about causes and economic policies?

Re: Argentina's Currency Black Market

#114

Post by conanbatt » Tue, Nov 05, 2013, 6:47 PM UTC

dysoco wrote: post #111

conanbatt wrote: post #76

Earlier quoted context omitted.

Thats not a problem, its an opportunity. You are able to pay things in dollars at a much lower rate than the illegal dollar.

So? It's still more expensive than the official price (of the product), since I pay 20%+ more.

The official number is definitely way cheaper than it should be. If it werent, the government would not need to prohibit currency exchanges because the income/outcome of dollars would be balanced.

Credit card dollars are a huge opportunity, thats why its becoming the N1 concern for the government.