Hoard Food

Report: Farmers Hoarding Food To Protect Against Currency Collapse

by Mac Slavo
SHTF Plan

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Which asset is more secure than money in the bank?

The answer is simple.

It’s the asset that will still have value when the money or the bank collapse.

All over the world, when people have been faced with the prospect of having their savings wiped out or confiscated they have turned to hard assets – physical goods they could hold in their possession and trade if necessary – as protection.

Argentina, a country that is no stranger to economic hard times and hyperinflation, gives us a prime example of what becomes money when the system collapses.

At an inflation rate of 25%, while their currency loses significant purchasing power, Argentines have made a mad rush into gold, silver, and other tangible goods that retain their barterable value.

With world food demand on the rise, growers in the Pampas grain belt are filling their silos with soy rather than converting their crops into pesos, a currency that hit a new all-time low in informal trade this week.Like many Greeks, who have headed to the countryside to grow their own food in the midst of complete economic destruction, farmers in Argentina are hoarding the one tangible investment they know will not lose value, no matter what their currency does.

Considering Argentina’s high inflation, clocked at about 25 percent by private economists, “money in the bank” is not as secure as storing soybeans next to their fields, many say.

“We are going to hang onto our soy. One can see higher prices ahead,” said Jose Plazibat, a partner with the firm of Bandurria and Plazibat Brothers, which farms more than 3,000 hectares near the town of Chacabuco in Buenos Aires province.

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