Argentinian Pesos

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In the last hundred years, Argentina has seen an average of 100% annual inflation. On average every single year, the currency has lost half of its value. If you had money from Argentina 100 years ago it would be utterly worthless now. Argentinians tend to save in USD or if for people who are poorer and maybe don't have access to dollar markets, they will save in bricks.

Devon Zuegel talks with EconTalk host Russ Roberts about the crazy world of money and finance in Argentina. When inflation is often high and unpredictable, people look for unusual ways to hold their savings. And when banks are unreliable because of public policy, people look for unusual ways to keep their savings safe and to make financial transactions. Welcome to Argentina, where Zuegel finds surprising applications of cryptocurrency for solving problems.