by Bill Bonner
Final Day of the Quarantine
SAN MARTIN, ARGENTINA – Marta works for us at our house at the ranch. She comes down from her mountain puesto (outpost) on foot, a hike of about six hours.
She and her family are about as unsophisticated about money as anyone in Christendom. They live in a mud house, with a dirt floor and no microwave nor washing machine.
Their hands are as hard as boot leather. They get no newspapers. They see no TV. They are not readers of the Diary.
But even Marta is hip to the dangers of inflation.
“Could you change pesos for dollars?” she asked on Saturday.
You know you are near the end of a stock market bubble when taxi drivers begin giving you stock tips. But where are you when subsistence farmers high in the windswept Andes begin to trade currencies?