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You know your economy is in trouble when…

  1. There is a “black market” that evolves to sell currency (b/c they don’t trust the fiat or official currency values)
  2. That black market is being carried out in the Classified ads of your country’s newspapers

In the classifieds on the web of the daily Iceland newspaper Mbl, you find hard currency for sale (US dollar, Danish kroner, and Euro) ranging from USD 300 to USD 12000. With the breakdown of the official exchange rates, the market has emerged.

Published in Blog

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