Easy Free Money by Travelling to Argentina

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  guidedlight on 30/01/2015 - 20:05

  Here's an article that explains the Blue Dollar: http://www.argentinaindependent.com/currentaffairs/analysis/…

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  thejew on 30/01/2015 - 21:21

  That sounds fun n all, but it seems like a lot of work

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  loulou1 on 30/01/2015 - 21:24

  +1

  Easy? How much does your travel cost? What is your time worth per hour? You could do it in larger volumes perhaps but their is risk involved and you have to have the cash available to begin with.

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    guidedlight on 30/01/2015 - 22:34

    Obviously you would do it as part of your travel. A 50% plus exchange rate bonanza makes Argentina pretty damn cheap (and it was cheap beforehand).

    There are lots of ways to make money travelling to Argentina. Selling Apple products is illegal there, and smuggled iPhones can sell for up to US$2000 (if you can find a buyer)…. yes, they possibility have the most idiotic government in the world.

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  retiredfeline on 30/01/2015 - 21:28

  A few fluctuations and your gain might be wiped out.

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    scrimshaw on 30/01/2015 - 22:47

    and a few scams, pickpockets and luggage thieves will finish your savings off..

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    moooooooo on 30/01/2015 - 22:53

    Worst case scenario: Trip to Argentina minus a few dollars.

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  GnarlyKnuckles on 31/01/2015 - 00:29

  Chuckle, this sounds like a 'real' Ponzi scheme…

  But that fact is that Australia does not allow you to leave the country with very large sums of cash, and Argentina also restricts the amount you can take out. So for a 6% return, you'd lose more money on travel expenses (i.e. plane fares) than you could actually make on the scheme, given these restrictions. Let's say the travel costs were $2000 all up. Just to make that back, you'd need to take/process about $30000.

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    devilbabies on 31/01/2015 - 12:25

    "But that fact is that Australia does not allow you to leave the country with very large sums of cash"

    incorrect. you need to report it, but there is no limit.

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      GnarlyKnuckles on 31/01/2015 - 12:47

      Agreed, my wording was over-simplified. But it's not like you can just take out as much as you want without consequences, so long as you report it; otherwise why would they require that you report it?
      I also didn't mention that if you bring large sums back into Australia, you need to report that too; then they ask where you got it/why you have it, etc. If it is deemed to be 'income' (which presumably this would be; it's essentially currency trading), then I'm guessing you'd be required to pay tax on it.
      So there's potentially four separate head-aches involved; leaving Oz with all the cash, arriving in Argentina with it, leaving Argentina with it, and arriving back in Oz with it.
      Then there's the risk of being robbed of all of it, somewhere along the line. If you could work electronic transfers into the scheme somehow, it might be better (some online discussions on this issue hypothesise about working 'Bit-Coin' into the equation), but I'm pretty sure you'd end up breaching a law/s of one of the two countries, if not both, in the process.
      It hardly seems worth all that, for a potential 6%-minus-expenses return…

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  ThetaTheta on 05/03/2015 - 19:27

  Old thread, but commenting in case anyone is seriously considering this:
  Note that you won't actually find anyone that buys ARS at the government rate. None of the Australian banks or currency exchanges will do so - if they buy ARS at all it will be at Blue Dollar rates. You might get lucky and find some employee that doesn't know any better, but good luck doing it with larger amounts.