Argentines and the dollar
How do you explain the very strange relationship that Argentines have with the American currency?
As we are
The explanation of this incredible obsession of Argentines with the US currency does not only respond to macro economic, savings or mistrust issues. It is already part of a cultural theme and expectations. Argentina has the highest dollarization rate in the region, almost 70% regardless of those who are fully dollarized (Ecuador, for example). Our reserves are equivalent to X dollars, as is external debt, and it is probably our best refuge understanding the number of crises occurring in our economy. After all, we live in crisis. We go the other way around the world, indebted and without credit... Wow if we go the other way around, we buy a house in cash (obviously in dollars) and take out a fridge in installments (obviously dollarized securities). We keep the dollars under the mattress or remove them from the system to take care of the playpen, the playpen, the stocks (or whatever these boys are thinking about), trying to generate some savings that will allow us to be a little better. It is estimated that half of Argentinees' savings work outside the legal circuit, trying to move away from the system that offers no security or guarantees. Pages and pages written on this subject, thousands of economists have given their vision about it with magical solutions. How difficult to conclude this note without the possibility of offering something hopeful about it. Well, I leave you some allusive phrases. First, that of the great Tato Bores: “I don't explain how the Yankees, who are so alive, don't realize the danger they are running with us.” “No crazy man would buy dollars right now.” “Tranqui with the dollar, nothing happens.” “It's not true that the dollar is going to $15.” “Woever deposited dollars will receive dollars.” “The one who bets on the dollar loses.” “If the market wants dollars we're going to hit him with whip.” “What do we want dollars for? Have any of you seen a dollar?”