Argentina Desperate For Gold As Inflation Passes 25%

Alix SteelIn a report on Argentina, Bloomberg’s Alix Steel states that:
Demand for gold is so strong in Argentina, the only bank that trades gold is looking to buy bullion directly from mining companies.  A sign of things to come in other countries perhaps, as Argentina fights the highest inflation rate in the Western hemisphere.

 

As there appear to be some issues with the video embed, it can be viewed at Bloomberg here:  http://bloom.bg/XUpxe1

 

 

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Comments

  1. MSM showing their lack of understanding on the purpose of owning gold.  It’s not an investment, it’s a wealth preservation tool.

  2. And most South American Countries don’t want American Dollars, Times Are Changing. Keep Stacking
    Good link Ranger

  3. I have a feeling that there might be another hyperinflation event in Argentina because first of all, the inflation rate is 26% which getting closer to 50% which is the rate considered as hyperinflation and everyone over there are getting rid of their currency to buy gold.

  4. Also, I think that the Argentinian government will also ban the gold purchases just like the ban of the US dollar purchases. If the government does that, then Argentinians may start to buy silver.

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