I've also lived here in Argentina for 15 years. Buenos Aires is actually a safe city compared to most of South America, I've never been a victim of crime since living here (knock on wood). Palermo Hollywood and Palermo Soho are full of restaurants and bars and cafes and are where a lot of foreigners choose to live. Wait staff in Palermo will typically speak some English. Healthcare is excellent, and for an 'expensive' private insurance plan of 200 dollars a month you can access the top hospitals and doctors with no co-pays, no annoying paperwork in the mail, just wave your card and that's it. OSDE and Swiss Medical are two well regarded health insurance companies.
The property market has already had a steep decline over the past 4 years, so it's not a bad place to buy an apartment if you're are looking to cash out from a housing bubble area (there are almost no mortgages, however, due to the high and unpredictable inflation). Check Zonaprop for listings (caution that the rentals there often require a guarantee of another property that you own (long story) so short term furnished rentals are much easier via airbnb).
You don't need to pay more than 10 dollars for a good bottle of wine in a wine shop (and good wine for half that too), and top cuts of steak at the grocery store like rib eye, new york strip or T-bone cost 1000 pesos a kg (US$ 2.10 a pound). What's not to like :)
Plus it feels far away from world upheavals. There has been a new flow of people from abroad coming to live here since pandemic restrictions ended, but I'.m surprised more people don't know about it.
Spent three months earlier this year working remotely from Buenos Aires. OP is spot-on. With WiFi money in USTT, it’s an elite city. I lived a comfortable lifestyle — solo apartment and eating out three times a day — for like $2k a month. Was great city to save up and invest without cutting back on lifestyle. Will return next year for sure. Argentina steakhouses are elite
It’s no wonder Argentina is top 10 most crypto-active countries. Thanks for writing this, also loved all the tie ins to current events and funny jabs. Also continuously humbling to read how hard people fight for USTT - another BTB case in point, do you think countries *like* this? No.
Hey BTB/Mara, thanks for putting together the post, it's definitely useful info for many of the readers who don't live in the US/West and a great perspective to hear about even if you do
However, what this post doesn't address is how to survive inflation/hyperinflation if it actually occurs in the US/UK/CAN. The Argentines manage/survive by depending on the USD, but what about the inflation or potential hyperinflation in the USD itself? Buy land, cattle and ammo?
Or perhaps is it your view this it won't occur with the USD? When I think of it sure the USD is a shitty fiat currency, when you compare with all the other even shittier fiats its still better and holds value better than the rest (I hope?). Plus throw in the stuff about a lot of sovereign debt held in USD and military power backing it blah blah, for whatever its worth.
Not sure if many can survive at this point tbh. It's the food riots and crime that one needs to be worried about. Money imo will be a secondary thought when you realize that many loved ones will have to stay behind if you try to leave. Sure, I can go overseas, but I'm not leaving my family behind. No way in hell.
Try to escape somewhere off the grid (country, away from the city, etc.), have renewable energy, tons of non-perishable food, gardens, hydroponic towers, and self-defense. Build a local community of trust if possible.
Debated becoming a BowTied to write stuff like this tbh, but it'll come off as too conspiracy-like. Still, better to be prepared for when SHTF than not.
I think you haven't yet fully understood the Jungle because many of us were already on this same wavelength when it came these topics when the Jungle was just formed in early 2021, on these topics relating to the great reset, corona hoax, inflation lies, decline of the US, clot shot, etc. See the discord(s) too for relevant channels on these topics. Not all are in agreement of course, lots of healthy debate and always one or two pharma/establishment shills (IYKYK) but that stuff wouldn't be out of the blue.
Inclined to believe many people besides the jungle believe what you mentioned too. But, the jungle is few and far between. From what I've seen, there's more who believe what you mentioned is a conspiracy than not. Lots of anons are asleep. And it's them you have to worry about. Nod, smile, agree, and gtfo serves me well.
Might want to look at immigration, demographics, economic policies, and parallels between Argentina and US. Argentina is just happening faster because it’s smaller.
Wow! Extremely interested in the upcoming posts about nomad visas. I really want to move and am going to travel for the next 12 months on tourism visas, but ideally I'd like to live somewhere cheap and save up
First comment ever on the substack, and I just wanted to say I thoroughly enjoyed this first-hand perspective from Mara. Getting unfiltered knowledge from an Argentine local making it on BTB's principles and sharing his insight is absolutely incredible.
"The only way to get access to the dollar blue is through cuevas: local money managers that do nothing all day but earn a sweet spread + an additional 2-4% on the final converted amount. Locals withdraw whatever chunk of pesos they can save after living expenses from their bank account and exchange it at the blue rate for physical US token."
How to the cuevas not get wrecked sitting on large inventory of pesos?
The spreads are still worth it on a daily basis and the majority of their peso inventory comes from matching during that day (people handing them pesos to save in USD). There is risk of course, that's why besides the spread they also charge either 2% or 4% (depending on availability of either $ARS or $USD in their inventory) - they also liquidity pool with "mayoristas", which is what eventually ends up determining the blue rate; supply and demand.
Thanks! No, I am a follower of NC though - definitely in the same space in terms of residency & citizenship by investment, but imo he is part of the agent model that I want to disrupt (pretty hefty fees for something you could do with a local partner in a lot of cases).
What's the infrastructure like? Do you have functional roads, consistent electricity and water? Can you use public services?
By contrast my own country has become dysfunctional on that side and is sliding towards a scenario of hyperinflation but not yet (African continent). So earning wifi money is a requirement, but the local environment often requires you to pay twice (taxes for non government services) and then a private service provider (electricity, security, schooling and health)
Is Argentina able to provide basic infrastructure despite the collapse and continuous default of its government?
With regards to infrastructure it can definitely be better, but it is a lot better than most Latam countries. Broadband speeds (300mb+) are higher than in EU and US for a lower price (which for me is the most important thing). Gas is super cheap and used for heating in most apartments, same for energy. Used to have a lot more blackouts but now occasionally during 1 hour / month max in summer. Anything can change, always good to have a plan b, which is why I also have a generator just in case. In terms of taxes the only problem is if you actually set up a local business (they tax the hell out of everything) - if you just earn wifi outside of Arg, no problem. Other infra like private healtcare is cheap ($300 a month and you have a full package of whatever you want, even 1-2 aesthetic surgeries per year included) and imo better than US and EU.
ahh nice- compares well to the amount of power outages I'm experiencing (lets just say it's an impractical amount >5h per day). I assume Argentina is a resident based tax system and you've got to stay non-resident? Would need to look it up some more to keep away from accidently becoming tax resident. Sounds like a good place, if, as you say, you earn outside Arg.
Just in case someone is thinking on travelling to Argentina or you want to understand better the blue dollar situation you can check this website: bluedollar.net
I usually use that website to explain the Argentina situation for foreign investors. I will add this post to my repo to explain the real situation too, thanks Mara.
Thanks! Yeah that's a great resource - I also get pinged for this twitter account (https://twitter.com/ValorDolarBlue) every time the value changes (which is a lot). When BTB published the post the USD was at $216, and we're almost at $240 now!
I've also lived here in Argentina for 15 years. Buenos Aires is actually a safe city compared to most of South America, I've never been a victim of crime since living here (knock on wood). Palermo Hollywood and Palermo Soho are full of restaurants and bars and cafes and are where a lot of foreigners choose to live. Wait staff in Palermo will typically speak some English. Healthcare is excellent, and for an 'expensive' private insurance plan of 200 dollars a month you can access the top hospitals and doctors with no co-pays, no annoying paperwork in the mail, just wave your card and that's it. OSDE and Swiss Medical are two well regarded health insurance companies.
The property market has already had a steep decline over the past 4 years, so it's not a bad place to buy an apartment if you're are looking to cash out from a housing bubble area (there are almost no mortgages, however, due to the high and unpredictable inflation). Check Zonaprop for listings (caution that the rentals there often require a guarantee of another property that you own (long story) so short term furnished rentals are much easier via airbnb).
You don't need to pay more than 10 dollars for a good bottle of wine in a wine shop (and good wine for half that too), and top cuts of steak at the grocery store like rib eye, new york strip or T-bone cost 1000 pesos a kg (US$ 2.10 a pound). What's not to like :)
Plus it feels far away from world upheavals. There has been a new flow of people from abroad coming to live here since pandemic restrictions ended, but I'.m surprised more people don't know about it.
Spent three months earlier this year working remotely from Buenos Aires. OP is spot-on. With WiFi money in USTT, it’s an elite city. I lived a comfortable lifestyle — solo apartment and eating out three times a day — for like $2k a month. Was great city to save up and invest without cutting back on lifestyle. Will return next year for sure. Argentina steakhouses are elite
It’s no wonder Argentina is top 10 most crypto-active countries. Thanks for writing this, also loved all the tie ins to current events and funny jabs. Also continuously humbling to read how hard people fight for USTT - another BTB case in point, do you think countries *like* this? No.
tldr: earn online USD, live in a country where USD has more purchasing power.
Hey BTB/Mara, thanks for putting together the post, it's definitely useful info for many of the readers who don't live in the US/West and a great perspective to hear about even if you do
However, what this post doesn't address is how to survive inflation/hyperinflation if it actually occurs in the US/UK/CAN. The Argentines manage/survive by depending on the USD, but what about the inflation or potential hyperinflation in the USD itself? Buy land, cattle and ammo?
Or perhaps is it your view this it won't occur with the USD? When I think of it sure the USD is a shitty fiat currency, when you compare with all the other even shittier fiats its still better and holds value better than the rest (I hope?). Plus throw in the stuff about a lot of sovereign debt held in USD and military power backing it blah blah, for whatever its worth.
Very uncertain times.
Not sure if many can survive at this point tbh. It's the food riots and crime that one needs to be worried about. Money imo will be a secondary thought when you realize that many loved ones will have to stay behind if you try to leave. Sure, I can go overseas, but I'm not leaving my family behind. No way in hell.
Try to escape somewhere off the grid (country, away from the city, etc.), have renewable energy, tons of non-perishable food, gardens, hydroponic towers, and self-defense. Build a local community of trust if possible.
Debated becoming a BowTied to write stuff like this tbh, but it'll come off as too conspiracy-like. Still, better to be prepared for when SHTF than not.
I think you haven't yet fully understood the Jungle because many of us were already on this same wavelength when it came these topics when the Jungle was just formed in early 2021, on these topics relating to the great reset, corona hoax, inflation lies, decline of the US, clot shot, etc. See the discord(s) too for relevant channels on these topics. Not all are in agreement of course, lots of healthy debate and always one or two pharma/establishment shills (IYKYK) but that stuff wouldn't be out of the blue.
Inclined to believe many people besides the jungle believe what you mentioned too. But, the jungle is few and far between. From what I've seen, there's more who believe what you mentioned is a conspiracy than not. Lots of anons are asleep. And it's them you have to worry about. Nod, smile, agree, and gtfo serves me well.
1BTC=1BTC
Great post
Might want to look at immigration, demographics, economic policies, and parallels between Argentina and US. Argentina is just happening faster because it’s smaller.
Wow! Extremely interested in the upcoming posts about nomad visas. I really want to move and am going to travel for the next 12 months on tourism visas, but ideally I'd like to live somewhere cheap and save up
Javier Milei o irse a la mierda
Jajaja sí
Proyecto de Alberdi - 2023
First comment ever on the substack, and I just wanted to say I thoroughly enjoyed this first-hand perspective from Mara. Getting unfiltered knowledge from an Argentine local making it on BTB's principles and sharing his insight is absolutely incredible.
Thanks for that! Really appreciate it :)
"The only way to get access to the dollar blue is through cuevas: local money managers that do nothing all day but earn a sweet spread + an additional 2-4% on the final converted amount. Locals withdraw whatever chunk of pesos they can save after living expenses from their bank account and exchange it at the blue rate for physical US token."
How to the cuevas not get wrecked sitting on large inventory of pesos?
The spreads are still worth it on a daily basis and the majority of their peso inventory comes from matching during that day (people handing them pesos to save in USD). There is risk of course, that's why besides the spread they also charge either 2% or 4% (depending on availability of either $ARS or $USD in their inventory) - they also liquidity pool with "mayoristas", which is what eventually ends up determining the blue rate; supply and demand.
Great post
BowTied Mara, are you tied to nomad capitalist at all?
Similar work
Thanks! No, I am a follower of NC though - definitely in the same space in terms of residency & citizenship by investment, but imo he is part of the agent model that I want to disrupt (pretty hefty fees for something you could do with a local partner in a lot of cases).
Useful and clear. Thanks.
This is an amazing article. Thank you!
What's the infrastructure like? Do you have functional roads, consistent electricity and water? Can you use public services?
By contrast my own country has become dysfunctional on that side and is sliding towards a scenario of hyperinflation but not yet (African continent). So earning wifi money is a requirement, but the local environment often requires you to pay twice (taxes for non government services) and then a private service provider (electricity, security, schooling and health)
Is Argentina able to provide basic infrastructure despite the collapse and continuous default of its government?
With regards to infrastructure it can definitely be better, but it is a lot better than most Latam countries. Broadband speeds (300mb+) are higher than in EU and US for a lower price (which for me is the most important thing). Gas is super cheap and used for heating in most apartments, same for energy. Used to have a lot more blackouts but now occasionally during 1 hour / month max in summer. Anything can change, always good to have a plan b, which is why I also have a generator just in case. In terms of taxes the only problem is if you actually set up a local business (they tax the hell out of everything) - if you just earn wifi outside of Arg, no problem. Other infra like private healtcare is cheap ($300 a month and you have a full package of whatever you want, even 1-2 aesthetic surgeries per year included) and imo better than US and EU.
ahh nice- compares well to the amount of power outages I'm experiencing (lets just say it's an impractical amount >5h per day). I assume Argentina is a resident based tax system and you've got to stay non-resident? Would need to look it up some more to keep away from accidently becoming tax resident. Sounds like a good place, if, as you say, you earn outside Arg.
Just in case someone is thinking on travelling to Argentina or you want to understand better the blue dollar situation you can check this website: bluedollar.net
I usually use that website to explain the Argentina situation for foreign investors. I will add this post to my repo to explain the real situation too, thanks Mara.
Thanks! Yeah that's a great resource - I also get pinged for this twitter account (https://twitter.com/ValorDolarBlue) every time the value changes (which is a lot). When BTB published the post the USD was at $216, and we're almost at $240 now!