Tag Archives: FerFAL

  • Podcast

    FerFAL: Here’s What It Looks Like When Your Country’s Economy Collapses

    Argentina is showing us the playbook in real-time
    by Adam Taggart

    Saturday, February 8, 2014, 7:36 PM

    24

    Argentina is a country re-entering crisis territory it knows too well. The country has defaulted on its sovereign debt three times in the past 32 years, and looks poised to do so again soon.

    Its currency, the peso, devalued by more than 20% in January alone. Inflation is currently running at 25%. Argentina's budget deficit is exploding and, based on credit default swap rates, the market is placing an 85% chance of a sovereign default within the next five years.

    Want to know what it's like living through a currency collapse? Argentina is providing us with a real-time window.

    So, we've invited Fernando "FerFAL" Aquirre back onto the program to provide commentary on the events on the ground there. What is life like right now for the average Argentinian?

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  • What Should I Do?
    Argentina Street Riots

    Preparing for Economic Collapse

    Learning from the past – a personal account
    by FerFAL

    Tuesday, May 21, 2013, 7:14 PM

    69

    We bring back to the forefront an article from contributor Fernando "FerFAL" Aguirre. With the many new sources of turbulence in the financial system and many new unknowns of how our predicaments will play out, we can always look to the past for guidance. The following is an account from a long time Peak Prosperity member who has lived through economic collapse. FerFAL experienced the hyperinflationary destruction of Argentina's economy in 2001 and continues to blog about his experiences and observations of its lingering aftermath. His website and his book Surviving the Economic Collapse offer windows into the probable outcomes to expect during a collapsing economy. Note: Our site's What Should I Do? Guide offers specific guidance relevant to a number of the steps FerFAL recommends below. Review, Learn, and Get Prepared.  Better a year early than a day late. 

    How can I prepare for an economic collapse? is one of the most common questions I get. It usually takes me a second to start to explain how complex such a question is. It’s like asking an auto mechanic, Say, how do you build a car? or asking a computer engineer, What’s all that stuff inside my laptop?

    I do have some first-hand experience in this matter, though. The economy in my country, Argentina, has gone through various crises, but none as large as when the economy collapsed in 2001 after a decade of apparent prosperity. The currency devaluated, and Argentina defaulted on its USD$132 billion debt, the largest default ever. The middle class took to the streets after bank accounts were frozen, and the president was forced to resign, escaping the presidential building in a helicopter.

    What I’ll do is provide five quick foundational steps, based on what I know, for you to follow so as to be better prepared if something like what happened in my country ever happens in yours.

     

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  • Blog

    Argentina: A Case Study in How An Economy Collapses

    by Adam Taggart

    Friday, June 10, 2011, 5:10 AM

    0

    “When you ask any Argentinean person what concerns them the most, the first thing they’re going to be telling you is the crime problem. And the second one is the financial problem. Those are by far the top concerns the average Argentinean person has, and I think that eventually it will happen in the U.S.A., as well. I think that five years from now or so, you’re going to be talking to people, and the thing that’s going to be concerning them is that Joe down the street suffered a home invasion and got beaten up, maybe even got killed. All kinds of crime that didn’t used to happen in the good parts of town. It’s going to be one of the greatest concerns people will have, eventually.

    And, of course, the financial situation as well. If you look into what people are worried about right now they’re worried about losing their jobs not being able to put food on the table the next month. They see that if they lose their jobs it’s not as easy as it used to be to find another one as well. That’s terrible, because it’s very cold when you look at it in numbers, but it’s—I’m telling you—it’s so much different when it happens on a social level and you see that on the street . When you see the people picking up garbage on the streets to eat.”

    Hyperinflation survivor Fernando “FerFAL” Aguirre shares his observations of life during and after Argentina’s currency collapse in 2001. He notes that the decline initally began slowly, with most of the populace slow to wake to the danger. But when the eventual collapse occured, it happened practiclly overnight – catching the country by surprise. In the wake of the collapse, dealing with poverty and violent crime became the dominant themes.

    Worth our attention is his observation that he now sees the sames signs in the US and other major developed nations that he saw leading up to Argentina’s collapse. In fact, he foresees a similar endgame as all but inevitable.

    Click the play button below to listen to Part 1 of Chris’ interview with FerFAL (runtime 31m:43s):

    [swf file=”http://media.chrismartenson.com/audio/ferfal-2011-06-09-part1.mp3″]

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  • Blog

    Preparing for Economic Collapse

    by FerFAL

    Friday, May 13, 2011, 1:19 PM

    0

    Today’s contributor is Fernando “FerFAL” Aguirre. Many of our readers have expressed interest in hearing accounts from those who have lived through economic collapse. FerFAL experienced the hyperinflationary destruction of Argentina’s economy in 2001 and continues to blog about his experiences and observations of its lingering aftermath. His website and his book Surviving the Economic Collapse offer windows into the probable outcomes to expect during a collapsing economy. Note: Our site’s What Should I Do? Guide offers specific guidance relevant to a number of the steps FerFAL recommends below.

    “How can I prepare for an economic collapse?” is one of the most common questions I get. It usually takes me a second to start to explain how complex such a question is. It’s like asking an auto mechanic, “Say, how do you build a car?” or asking a computer engineer, “What’s all that stuff inside my laptop?”

    I do have some first-hand experience in this matter, though. The economy in my country, Argentina, has gone through various crises, but none as large as when the economy collapsed in 2001 after a decade of apparent prosperity. The currency devaluated, and Argentina defaulted on its USD$132 billion debt, the largest default ever. The middle class took to the streets after bank accounts were frozen, and the president was forced to resign, escaping the presidential building in a helicopter.

    What I’ll do is, provide five quick foundational steps, based on what I know, for you to follow so as to be better prepared if something like what happened in my country ever happens in yours.

    Read More »