Showing posts with label Dollars. Show all posts
Showing posts with label Dollars. Show all posts
Sunday, September 20, 2015
Facebook, Dollars and Sneakers: A Refugee's Survival Kit (video)
Facebook, Dollars and Sneakers: A Refugee's Survival Kit - Thousands of refugees continue to arrive every day in Athens, on ferries from the country's outlying islands. The route they take from the Greek capital to the Macedonian border is now well travelled, and many local businesses are feeling the benefits. Bloomberg's Tom Mackenzie followed one group of Syrian refugees as they navigated the latest leg of their journey. Published on Sep 18, 2015.
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Sunday, March 2, 2014
Dollars, Euros, Gold
Currency has two primary purposes -- medium of exchange, and store of value -- when it loses either, you better have a viable option:
Argentina’s black market for hard cash: Buenos Aires deliverymen will bring the currency you need.: " . . . This year extreme inflation has sparked the country’s latest economic crisis, and locals are increasingly desperate to acquire foreign currencies. “Three things are stable here—dollars, euros, and gold,” Miguel Figueira, a Buenos Aires bank auditor, tells me. This isn’t the first time the peso has gone wobbly—in fact, many Argentines say they’re used to financial crises, which seem to occur like clockwork every 10 to 15 years. The most recent was in 2002, when the country defaulted on billions of dollars in debt. Hyperinflation saw the peso’s value slashed in half. Banks froze citizens’ savings accounts to prevent them from taking out their money, which had been deposited in dollars. Unemployment and poverty skyrocketed; the recovery took years. . . ." (read more at the link above)
When is the last time you heard the Fed concerned about the Dollar as medium of exchange or store of value?
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Argentina’s black market for hard cash: Buenos Aires deliverymen will bring the currency you need.: " . . . This year extreme inflation has sparked the country’s latest economic crisis, and locals are increasingly desperate to acquire foreign currencies. “Three things are stable here—dollars, euros, and gold,” Miguel Figueira, a Buenos Aires bank auditor, tells me. This isn’t the first time the peso has gone wobbly—in fact, many Argentines say they’re used to financial crises, which seem to occur like clockwork every 10 to 15 years. The most recent was in 2002, when the country defaulted on billions of dollars in debt. Hyperinflation saw the peso’s value slashed in half. Banks froze citizens’ savings accounts to prevent them from taking out their money, which had been deposited in dollars. Unemployment and poverty skyrocketed; the recovery took years. . . ." (read more at the link above)
When is the last time you heard the Fed concerned about the Dollar as medium of exchange or store of value?
Tweet Follow @johnmpoole
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