For those that haven't been to Argentina, you have to realize, there are two rates. The "official" rate and the Blue dollar rate. The Blue rate is the real rate. That's what everyone uses when you're buying anything in Argentina.
The official rate is only used for credit cards when foreigners are stupid enough to use them. It's a way for the government and banks to rent-seek.
The devaluation is just bringing the official rate to be the same as the Blue Dollar rate, nothing more. It's not some grand conspiracy. It's just recognizing reality.
jimmysong /
npub10v…psp42
2023-12-14 04:43:55
Author Public Key
npub10vlhsqm4qar0g42p8g3plqyktmktd8hnprew45w638xzezgja95qapsp42Published at
2023-12-14 04:43:55Event JSON
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"content": "For those that haven't been to Argentina, you have to realize, there are two rates. The \"official\" rate and the Blue dollar rate. The Blue rate is the real rate. That's what everyone uses when you're buying anything in Argentina.\n\nThe official rate is only used for credit cards when foreigners are stupid enough to use them. It's a way for the government and banks to rent-seek. \n\nThe devaluation is just bringing the official rate to be the same as the Blue Dollar rate, nothing more. It's not some grand conspiracy. It's just recognizing reality.",
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}