Oh Argentina, where one of the few booming sectors is armored car services!
Why? Well it’s not mentioned in the article (which is a pretty confused piece), but Argentina is a pretty disintermediated country. People don’t trust banks (gee I wonder why) and lots of business is done in cash. Add to that the fact that years of high inflation have rendered Argentina’s largest denominated currency to be worth only $10 (and this is at the official ER) and you can see that cash moves around and these days it takes a LOT of cash to purchase major items.
In other words, purchasing power that used to fit in a wallet, now fits in a suitcase.
What used to fit in a suitcase, now fits in a wheelbarrow…..
As a famous man once said, solve for the equilibrium.
Here’s some free CG investment advice: short wallets, long Brinks trucks!
Hat tip to the inimitable Boz.