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DavidV

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Reply with quote  #1 
As you know, Argentina's President Kirchner is unpopular, desperate (hence the sabre-rattling over the Falklands), and trying to cover her tracks in grotesque economic mismanagement.

US Dollars, even if not in actual gold form, have become gold to Argentines:
http://www.zerohedge.com/news/2013-05-15/argentines-are-hoarding-1-every-15-cash-dollars-world
http://qz.com/81419/the-skyrocket-rise-of-argentinas-blue-dollar/
While luxury car prices soar as an alleged "store of value" (don't make me laugh):
http://www.bloomberg.com/news/2013-05-14/bmws-gaining-bitcoin-like-appeal-as-cpi-hedge-argentina-credit.html

The government is trying to crack down on the black market:
http://qz.com/83637/argentinas-new-plan-to-collect-american-dollars-is-almost-as-worthless-as-its-currency/

And the peso rallying is spun as good news:
http://online.wsj.com/article/SB10001424127887323582904578489470877343446.html

Now, where have we seen all this before? Voodoo economics at play here. It will end in tears for Argentina... again.
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