Money
Investor Reports Nobody in Argentina Would Accept Gold Silver or Bitcoin
Mario Nawfal Interviews
WE ARE ON THE BRINK OF ANOTHER MAJOR FINANCIAL CRISIS - w/ George Gammon
What was said
"I drove across Argentina for my channel trying to use nothing but gold, silver, and Bitcoin. What everyone wanted was not gold, it was not silver, it was not Bitcoin, it was dollars. When I had a gold coin and I'd take it to a gold dealer, I'd have to take like a 50% haircut. The easiest to sell were the silver coins, but most people weren't buying it because it was silver. They were buying it because of the coin."
In a field experiment driving across Argentina, Gammon discovered locals rejected gold, silver, and Bitcoin in favor of US dollars despite their peso depreciating 20% monthly. Jewelers either refused gold entirely or demanded 50% discounts. This demonstrates the dollar's network effect overpowers hard asset theory even in hyperinflationary environments.
Verification status
Attributed speaker claim
Egleze verified who said this and where. The underlying claim has not been independently established by Egleze.
Source and context
Egleze verified who said this and where. The underlying claim has not been independently established by Egleze.
- Programme
- Mario Nawfal Interviews
- Episode
- WE ARE ON THE BRINK OF ANOTHER MAJOR FINANCIAL CRISIS - w/ George Gammon
- Clip time
- 27:40
- Original source
- Watch the source segment →
From this episode
Mario Nawfal Interviews