Restrictions - Restricciones

in LeoFinance2 years ago



Those who live in countries with "normal" economies hardly understand what happens here in Argentina.

In the whole world (or almost) there are dollars leftover but here they are missing. This is due to the fact that there is no foreign or national investment, no foreign capital enters, nor do locals decide to risk their money due to bad economic policies, excess taxes, rules of the game that change according to the government in power and other series of unfortunate events that repeat themselves from time to time and do not seem to have a solution.

It is due to this pressing lack of foreign exchange that the government restricts the sale of the few dollars that remain in reserves or that enter through exports and imposes the "exchange rate", that is, basically, not allowing access to foreign currency to the common investor, to the who travels, who needs to purchase imported machinery.

As a countermeasure to this trap, parallel markets are born where transactions are carried out outside of formal circuits, increasing the risks of theft and fraud. The "parallel dollar" is a registered trademark and its price is almost double the official one.

In this context they have also started some kind of restrictions and controls on cryptocurrencies, here are some brokers that operate in a similar way to exchange houses, they buy BTC, ETH and not much else and sell them to their local clients, of course with a spread. These sale and purchase transactions with their clients are made in local currency and the government has already informed that the FIU (financial information unit) will pay attention to this.

But also these brokers have important restrictions to transfer dollars abroad with which to acquire the BTC, based on this and eventually some shortages of stock or at least delays to carry out transactions may be noticed.

I try to keep my currencies abroad but if I wanted to invest more I would surely be affected by these exchange restrictions. There is no change in sight in the short term, so we will have to be patient and take extreme precautions and ingenuity to manage our own money, isn't that incredible?


Los que viven en países con economías “normales” difícilmente entiendan lo que sucede aquí en la Argentina.

En todo el mundo (o casi) sobran dólares pero aquí faltan. Esto es debido a que no hay inversión extranjera ni tampoco nacional, no entran capitales foráneos ni los locales se deciden a arriesgar su dinero debido a las malas políticas económicas, exceso de impuestos, reglas de juego que cambian de acuerdo al gobierno de turno y otra serie de eventos desafortunados que se repiten cada tanto y no parecen tener una solución.

Es por esta acuciante falta de divisas que el gobierno restringe la venta de los escasos dólares que quedan de reservas o que ingresan por exportaciones e impone el “cepo cambiario”, esto es básicamente, no permitir el acceso a divisas extranjeras al inversor común, al que viaja, al que necesita adquirir una maquinaria importada.

Como una contramedida a ese cepo nacen los mercados paralelos donde las transacciones se realizan por fuera de los circuitos formales aumentando los riesgos de robos y estafas. El “dólar paralelo” es una marca registrada y su cotización está casi en el doble del oficial.

En este contexto también han comenzado algún tipo de restricciones y controles sobre las cryptomonedas, aquí hay algunos brokers que operan de forma similar a casas de cambio, ellos compran BTC, ETH y no mucho más y las vendes a sus clientes locales, por supuesto con un spread. Esas transacciones de compra-venta con sus clientes se hacen en moneda local y el gobierno ya ha informado que la UIF (unidad de información financiera) pondrá atención en esto.

Pero también estos brokers tienen importantes restricciones para transferir dólares al exterior con los cuales adquirir los BTC, en base a esto y eventualmente se podrán notar algunos faltantes de stock o al menos demoras para realizar las transacciones.

Yo trato de mantener mis monedas en el exterior pero si quisiera invertir más seguramente me vería afectado por estas restricciones cambiarias. No se vislumbra un cambio en el corto plazo así que deberemos tener paciencia y extremar recaudos e ingenio para manejar nuestro propio dinero, ¿no les parece increíble?

Las fotografías son de mi propiedad excepto las que menciono la fuente.
The photographs are my property except those mentioned by the source.

Héctor Gugliermo

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It sounds like you give way too much control to the powers that make up these rules. I keep most of my currency on the blockchain which is 'nowhere' and 'everywhere'. There are no cross border restrictions in crypto currency. Transfers are (near) instant and irrevocable. This is the ultimate version of "Managing our own money".

The above takes fraud completely out of the picture. The only time I lost money was when someone transferred cash to my bank account and I sent the person some crypt0currency. The bank likes to reverse transfers that they don't like. (banks are insecure by nature.)

The official price of dollars is meaningless! That price is the price that the government desires. It it goes to high then the government looks bad. I will let you in on a secret: they are bad. They 'wish' you would not see the way they are inflating the dollar price to the skies.

The 'blue' is the market price which is governed by the law of 'supply and demand'. There is no demand for orange pieces of paper that purchase $6 worth of merchandise, so you have to give a lot of orange-1000-pesos bills to someone if you want their dollars. I certainly will not buy lots of pesos because they continually lose value.

Good news though. Very soon the dollar-peso price will be one-to-one again.

The U.S.A is now following the Argentine model - print it to infinity and beyond....

I think we must take into account the situation of the majority, this means trying to protect the value of money for use to live. In this regard, restrictions are important. If we could all keep our cryptocurrencies and not have the need to exchange them to buy goods or services that are only still accessible in local or international currencies we would probably not be talking about this. Regarding the USA, I fully agree, I never thought they would reach a situation like the current one, both politically and economically. Thanks for your comments always appreciated.

Posted Using LeoFinance Beta

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