Currency Crisis In Argentina & Debt Crisis In India: Worse By The Day In The Emerging Markets

While the West was focused on the UN Assembly and the Kavanaugh hearings, the situations in Argentina and in India are deteriorating. Here are the details…

by Josh Sigurdson and John Sneisen of World Alternative Media

The head of Argentina’s central bank, Luis Caputo resigned on Tuesday leading to a massive 5% drop in the value of the Argentine Peso following months of attempted “stabilization” efforts which not surprisingly lead to further devaluation.
The attempt to bring interest rates up to 60% didn’t work because basic economics tells us that the problem came from centralization and will not be solved in the long term by more centralization. The currency must collapse.
Argentina has an unfortunate history of inflationary and hyperinflationary events as the Peso has been rebranded countless times in the past century. It’s quite incredible that these central planners think reciting the same mantra over and over again for eternity will help the eternally doomed monetary policy.
The cause? Centralization and legal tender laws. The solution? Individualism, free markets, a free competing currency system.
Argentina has been loaned over 50 billion dollars by the IMF which once again, not surprisingly has NOT worked. Now Argentina and the people of Argentina are further indebted by force to a massive international order.
Guido Sandleris will take over as the new head of Argentina’s central bank. It will not make a difference. They’re attempting to do the same thing over and over and over and over again expecting different results. The absurdity is sky high, especially considering the historical implications. Every single fiat currency in history has reverted to its true value of zero going back to 1024 AD in China. This time will not be any different. It forces the populace into poverty, it gives banks huge reign over the individual by the hand of the state and central bank. It’s horrible.
There are solutions however. Individuals must be educated. Financial education and financial responsibility are key. Responsibility is the hallmark of freedom after all. Individuals must protect their purchasing power outside of fiat and they must decentralize their lives.
Rule yourself folks. Don’t become subservient to debt. Break free. Be free.

As we see a debt crisis in the non-banking financial sector, India’s central bank has said they will buy 100 billion Rupees of government bonds. This is all part of an effort to reassure investors, but we know this will simply lead in the same direction long term that all of this massive market manipulation and centralization has.
All the while, Blackstone has announced they’re planning a 7% yield for India’s first REIT IPO. It will include 33 million square feet.
Also in the news, India’s bank non-performing loans rise to $150.2 billion at the end of March! Bad loans held by India’s banks rose 10.36 trillion Rupees at the end of March the government recently announced.
All the while, India’s top court just upheld Aadhaar, the biometric system that utilizes finger prints, retina scans and other digital identification tools which help the government track people and control them under the guise of convenience as the country falls into a cashless system.
That is what this is really all about. The state and banking system is scrambling as the country flips into this technocratic system, moving from a system that has historically been very supportive of cash, especially gold to this new digital system.
In the past, India had a flourishing free market among merchants. That has all changed as the government cracked down on free markets and is attempting to force everyone into bank accounts, allowing them to track every move in a race against China to unroll a completely cashless system with Modi at the helm.
It’s not all going as planned as they are quickly finding out like so many before them throughout history that centralization of an economy doesn’t work and restriction of the markets pushes people into poverty causing massive problems with debt and development, not to mention a brewing crisis among the populace who feel disenfranchised.
It’s a perfect test ground. Start with a culture that loves cash and move along throughout the rest of the world abolishing cash and forcing them into a digital centralized currency.
If your money’s in the bank, it’s not yours, it’s the bank’s. If your money’s always going through the bank via digital transactions and legal tender laws, it’s never your money and it’s always the banks and you know what that makes you. Subservient.
 

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