Josh Sigurdson talks with author and economic analyst John Sneisen as several Latin American currencies plummet!
This is no surprise as all fiat currencies eventually revert to their true value of zero as they have since 1024 AD in China every single time. Still, it’s shocking a lot of people. We’ve recently reported on the massive inflation hitting Argentina for what seems like the millionth time in the past century which in reality isn’t too far off. The Argentinian Peso has seen a huge drop in purchasing power this past year. We’ve also been reporting on the hyperinflation hitting Venezuela for years. We can thank vast centralization and manipulation for these struggles.
Well it appears the Brazilian Real, the Mexican and Columbian Pesos and largely all of Latin America is struggling right now.
Argentina is trying to force its banking system to shift away from short term funding, has cancelled the daily dollar auction and has phased out its short term Lebacs program. The Peso saw a cliff dive following these moves.
Then the Argentinian central bank stepped in and raised 7-day rates by 500bps to 45%!
Emerging market investors are panicking for good reason. This is an obvious sign of the desperate sentiment of the central banking system.
This has seen reactions in Brazil, Mexico, Chile and Columbia. But alas, this is expected. We cannot expect history’s greatest tricks of central planning to end any differently than it has over and over again for a thousand years.
They are propping up that which does not live. It is getting heavier and heavier as the days roll on and eventually it will fall on top of the populace. The longer it is put off, the worse it will be.

Individuals must branch out from under the watchful eye of the global complex. Individuals must be independent and self sustainable. Financially educated and responsible. We cannot continue to be dependent on an entity which benefits from our dependence.

We will continue to cover this issue closely! Stay tuned for more from WAM!

Video edited by Josh Sigurdson

Featuring:
Josh Sigurdson
John Sneisen

Graphics by Bryan Foerster and Josh Sigurdson

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2018

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