The Argentine peso is in freefall: USDT/ARS at 1,308.9, with a volume of 1.84B ARS in 24 hours. We all rush to exchange bills that are worth nothing. The Central Bank is liquidating reserves and selling dollars like crazy to put out the fire, while the IMF tightens the screws. The moving averages (MA 25: 1,251.5; MA 99: 1,219.8) scream that this won't stop. In a year, ARS has fluctuated between 980 and 1500, a lottery where we always lose. We hold pesos that are melting away and dream of a miracle. The peso is not even good for a paper boat.#ars