SH,

Most of us here in Argentina (not me) are doing what we've always done to prepare for (hyper)inflation: we buy US dollars not gold.

Today, one dollar buys 3.5 pesos. By year end, that ratio is expected to be about 4 to 1.

The government is now purposely and gradually devaluing the peso. Since each time there's any sign of an immanent greater bump up in inflation, there are sudden appearances of long lines of bank depositors cued around the blocks waiting to withdraw all their peso savings as soon as possible so that can buy dollars: no confidence here.

Gold buying is not so popular with the average person since in the last economic crises in 2001, it was the US dollar that proved to be the best safe haven when the peso dollar ratio went rapidly from 1:1 to 4:1.

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