MercoPress. South Atlantic News Agency
Argentina has at least a three-tier foreign money market: formal, informal and ‘cash overseas’
The strict foreign currency controls and restrictions on the purchase of US dollars in Argentina have created the traditional black or informal market and a more sophisticated option by acquiring dollar denominated assets which can be cashed overseas such would be the case of shares from companies trading in New York. Read full article
Comments
Disclaimer & comment rulesAh, this reminds me of the days of North Korea searching desperately for foreign currency and they ended up printing dollars themselves.
Mar 23rd, 2012 - 10:58 pm - Link - Report abuse 0Them be the days.
CFK has stole more than $50 million US from the treasury. Can you believe the Argentines re-elected her? I can. Just looks at the people who elected Obama in the US
Mar 23rd, 2012 - 11:03 pm - Link - Report abuse 0Looks like the Argentine population know the inevitable is coming and are trying to protect themselves by not buying worthless Argentine goods. Best to put the money overseas in something stable and reliable.
Mar 23rd, 2012 - 11:06 pm - Link - Report abuse 0Can you blame them?
@3 Not really. I'd be taking the unofficial tax hit with the overseas money exchange rate. No point holding on to Fiat money that might be worthless in a few day-weeks.
Mar 23rd, 2012 - 11:09 pm - Link - Report abuse 0Buying a sh!t TV as an asset doesn't make it any better.
ah
Mar 23rd, 2012 - 11:23 pm - Link - Report abuse 0but will the begging bowl come out,
3 kinds of money ?
Mar 23rd, 2012 - 11:25 pm - Link - Report abuse 0Argentina becomes richer...richer...richer...
Hell McClick, back again are we Mr SpamBot?
Mar 23rd, 2012 - 11:27 pm - Link - Report abuse 0In reference to your post, I agree that the majority of household washing liquids serve a purpose that necessitates health conditions on a medium level through the middle classes.
This is what happens when you sack your economists and put the bloke from down the street in charge. What a totally fucking useless regime.
Mar 23rd, 2012 - 11:38 pm - Link - Report abuse 0Boy am I pleased that the UK never talked to these useless twats.
Why can't the Argie's allow their own citizens to do what they please with their own money? All these supposed CFK supporters who think they have freedom are either deluded or simply stupid.
Mar 24th, 2012 - 12:46 am - Link - Report abuse 0Economic freedom is a cornerstone of democracy and this state interfearance with the spending will of its own citizens is clear authoritarian leadership.
Another default looms for Argentina and people will be hurt. Apart from CFK and het fat offspring. What a nice place to live :-o
why no one taught the islanders to be better people?
Mar 24th, 2012 - 02:58 am - Link - Report abuse 0Xect - McClick will not get what you saying. Maybe next time you will take the tongue out of your cheek?
Mar 24th, 2012 - 06:00 am - Link - Report abuse 0@10 Define 'better people', thanks.
Mar 24th, 2012 - 09:03 am - Link - Report abuse 0I now see why Timerman wrote to the NY stock exchange. When the famous five are eventually quoted there in $ or are joined by a quoted US company, Argentinians will invest in them as per the sub-headline. There's a bonus; a clear conscience for an Argentinian investor because the oil belongs to Argentina!
Mar 24th, 2012 - 09:46 am - Link - Report abuse 0@13 In a free market, it doesn't matter who invests in who. So long as they pay the taxes and duties, and respect their sovereignty.
Mar 24th, 2012 - 10:31 am - Link - Report abuse 0Which takes me back to South Georgia when a certain Argentinian scrap metal merchant turned up on a Argtard naval vessel with a bevvy of Argtard marines supposedly to take down some whaling station.
@14 Displaying your laudable Anglo values again. I'm convinced.
Mar 24th, 2012 - 10:37 am - Link - Report abuse 0@14 My laudable anglo values are what makes my country work, and your lack of anglo values are what makes your country not work.
Mar 24th, 2012 - 10:59 am - Link - Report abuse 0Get over it, I did.
inflation, deflation does not matter
Mar 24th, 2012 - 12:29 pm - Link - Report abuse 0the real economy is still there
if they don't trust the peso for savings they will find an other way to save.
“inflation, deflation does not matter. the real economy is still there. if they don't trust the peso for savings they will find an other way to save.”
Mar 24th, 2012 - 12:33 pm - Link - Report abuse 0I don't think i've heard a less ignorant and more moronic assessment of the argtard economy than this one.
“they will find an other way to save.” You mean like investing huge sums of money that just appeared out of the ether on brand new maximo-hotels and maximo-property like KFC who in terrible economic circumstances has increased her wealth by many times.
Cognitively they are like 4 year old children.
@18 GreekYoghurt
Mar 24th, 2012 - 12:37 pm - Link - Report abuse 0how is your over-crowded island going?
are you still importing people from 3rd world countries? there is a reason their countries are like that.
@19 UK is doing fine thanks. We're not too overcrowded, just in london. It's just a popular and fun place to be, what with all of our financial work, and creative industries, and suave lifestyles.
Mar 24th, 2012 - 12:43 pm - Link - Report abuse 0Sure, we get lots of people from 1st, 2nd and 3rd world countries. We aim for people with high-skill sets but other people seem to get in by swimming the channel or various other methods.
Sure there is a reason their countries are like that, because they restrict the markets, they have a culture of violence and they're not very modern. So if we can save a few of them and show them how life can be... why not?
The UK is just one big party.
@20 GreekYoghurt
Mar 24th, 2012 - 12:47 pm - Link - Report abuse 0ok whatever, don't forget to go to the Jobcentre or your Jobseeker's Allowance might be affected.
you ignorant troll
@14 and @16 Think would be amused at you talking to yourself if he hadn't already stopped reading your posts. For my part, I'm mildly offended that you think Scotland doesn't work as a country because of its lack of Anglo values. Can't wait for after our very own decolonisation referendum so we can give it an objective test.
Mar 24th, 2012 - 12:49 pm - Link - Report abuse 021 - Retroqqq.
Mar 24th, 2012 - 01:04 pm - Link - Report abuse 0Your lack of economic understanding is truly embarrassing, to the point where I actually feel bad for you.
The reason why so many people try to get into the UK is because its a bloody great place to live.
@23 Xect
Mar 24th, 2012 - 01:11 pm - Link - Report abuse 0They really have some huge ethnic chip on their shoulders, every turn they have to “demonstrate” the anglo greatnes, and in the past couple of days for whatever reason its gone out of control, not only claiming to be superior because they are anglos, but disparaging Argies, other Latins, Scotts, Asians, Indians, Africans, etc. To me, its obvious they are quite insecure, really.
Mar 24th, 2012 - 02:04 pm - Link - Report abuse 0Ah Tobias yet another crude attempt to distort the facts. You're a clever man but your attacks are incredibly clumsy and ill thought out as are your slights on the British. I'd give you an F- for capability when it comes to spin.
Mar 24th, 2012 - 02:10 pm - Link - Report abuse 0In reality what has happened is Argentina has had a terrible week whereby its had nothing but bad news domestically and also internationally.
The Argentine posters have been running around claiming the whole world supports them yet clearly this isn't true and is evidenced by yet more countries showing very strong discontent for Argentina on a wide range of issues.
The chip sir is not on the shoulders of the British but on the crusading attempts of the Argentine government and some of the public in their crass and shameless attempt to colonize the Falkland Island's through diplomatic thuggery.
Sorry Xect, the level of xenophobia, racism, ethnocentrism, jingoism, is coming from your side. I don't see any argie posters in the threads I post in, including this one, even remotely approaching your levels of self-grandeur.
Mar 24th, 2012 - 02:17 pm - Link - Report abuse 0I had enough basically, and I will respond now.
“I had enough basically, and I will respond now.” *Gasp* The terror. :P
Mar 24th, 2012 - 02:35 pm - Link - Report abuse 0You don't have to gasp at me. The truth about who you are is enough to that.
Mar 24th, 2012 - 02:48 pm - Link - Report abuse 0You're starting to sound a bit “ranty” Tobi. Go and have a nice lie down.
Mar 24th, 2012 - 03:53 pm - Link - Report abuse 0I can't when I'm having so much fun being a TTT.
Mar 24th, 2012 - 04:14 pm - Link - Report abuse 0@31 Hey tobias. Your economy is furked and you're poor.
Mar 24th, 2012 - 04:16 pm - Link - Report abuse 0a TIT? Well, you said it.
Mar 24th, 2012 - 04:32 pm - Link - Report abuse 0@32
Mar 24th, 2012 - 06:29 pm - Link - Report abuse 0Nope, Mendoza is doing fine from wine exports, tourism due to wine travellers, ski resorts, and shopping malls and conferences (see Mercosur choosing Mendoza, see the 4 nations rugby choosing Mendoza). Here a glimpse of the new poverty of Mendoza's countryside, of the last 10 years since the Wine Revolution.
Warning, the pictures are graphic and may be disturbing to you:
http://foro.univision.com/t5/Comunidad-de-Futbol/En-10-a%C3%B1os/td-p/434200091#axzz1q3kZWCY6
IMPSA the world's largest hydro and wind co manufactures and is headquatered in Mendoza, which feeds into hundreds of smaller manufacturing businesse who supply it
http://foro.univision.com/t5/Comunidad-de-Futbol/En-10-a%C3%B1os/td-p/434200091#axzz1q3kZWCY6
We have oil and the mountains. We are the biggest mineral water bottler and producer in Latin America (Villavicencio, Eco de los Andes).
http://foro.univision.com/t5/Comunidad-de-Futbol/En-10-a%C3%B1os/td-p/434200091#axzz1q3kZWCY6
http://foro.univision.com/t5/Comunidad-de-Futbol/En-10-a%C3%B1os/td-p/434200091#axzz1q3kZWCY6
We were the only province not to default in 2001. We have the most expressways in Argentina outside BA, the first urban metro just opened, and five star hotels from Hilton to Intercontinental, to Park Hyatt to Sheraton have opened just in the last four years. There is a new winery every 18 days. And have the world's most famous wine festival.
Expats from all over the world are choosing Mendoza to build homes, there's even a town called Tupungato where there are a dozen new neighborhoods with golf, vineyeards, from celebrities of Latin america, Hollywood and Europe. The need is so great a new airport is going to be built there because of all the private jet traffic.
Mendoza has no serious slum problem as most people have been moved to proper housing. The world's most renowned eye clinic (Roberto Zaldivar) is in Mendoza. UNC cuyo is the head of the medical nuclear program in Balseiro, Bariloche.
Anything else?? Mendoza has always been a bit separated from the problems over in BA. We never had riots like in the eastern cities. That's why lots of people from BA and Santa Fe move to MDZ.
@34 I've never been to Mendoza, but I have a few questions about your photos.
Mar 24th, 2012 - 07:42 pm - Link - Report abuse 0a) where are the massive signs saying 'Chile is ours', 'Malvinas Argentinas' and 'The Atlantic is Argentine'?
b) why can I not see any Le Camping goose stepping up and down and saluting shouting seig heil?
c) where is the government required massive statue of maximo? Not having a massive statue of maximo is illegal.
d) is that hotel part of the Kerchner Hotel chain that came from money and land that she 'gained' after she came into power?
Those are all the questions I have so far.
Mendoza looks like fine part the world Tobias and I for one wish you all well...it's just your dreadful government with it's hostile, bullying attitudes that I find tedious.
Mar 24th, 2012 - 08:10 pm - Link - Report abuse 0I have been to Medoza and like it very much. It is true the vineyards are spectacular, you can even stay at some (though armed robbery of guests is a bit of a problem). And the security on houses is very high - huge fences, alarm systems, security personnel and wolf-sized dogs. Pharmacies are particualar targets, so be prepared to shop through a caged-in shop. It is the only place in Argentina where I encountered beggars asking for your food before you finish your meal - I was happy to oblige but the restaurant staff were not happy.
Mar 24th, 2012 - 09:57 pm - Link - Report abuse 0But, no worries, because the people in Mendoza blame every crime on Chileans coming over the border. *coughs*
I like the place but it is not without crime and problems. I took a Chilean friend there for a visit one time and they were shocked by the police on EVERY street corner.
The Park Hyatt is a very nice hotel but last time I was there a blonde woman was complaining vigorously to the hotel management. I was curious to know what could be wrong in such an oasis of luxury. Then the woman let her hair fall loose and it was bright green; I mean glowing green. She had been swimming in the pool where the chemicals were not at the correct levels. So, just a word of warning unless you like the idea of brightly coloured hair. : )
Sounds like a fun place, Elaine.
Mar 24th, 2012 - 10:11 pm - Link - Report abuse 0Do you have to surrender your pistol/revolver at reception or can you take it up to your room?
37 ElaineB (#) & 38 lsolde (#), You both amuse me greatly with your comments; as for poor Tobias, who has it in for every ethnic origin, I think he is just taking the piss out of everyone. His excellent written English is hardly Latino Argentine, so I strongly suspect he has a UK ancestry.
Mar 25th, 2012 - 01:26 am - Link - Report abuse 0@37 Hmm... Mendoza, the home of kings.
Mar 25th, 2012 - 08:03 am - Link - Report abuse 0Perhaps I will just try the wine rather than heading over for a visit!
Mar 25th, 2012 - 11:51 am - Link - Report abuse 0@41 sure, you've got to feel sorry for tobias, it's hard to type in a flack-jacket and kevlar helmet.
Mar 25th, 2012 - 02:48 pm - Link - Report abuse 0LOL! I still recommend it for a visit. (Or in my case, several visits) The wineries are fantastic and varied - though many are now owned by Chileans, North Americans, Spanish and even English.
Mar 25th, 2012 - 07:24 pm - Link - Report abuse 0There is definitely an air of menace about the place but it didn't stop us going in search of some nightlife. Sadly we were thwarted at every turn apart from some low-key bars. Eventually we were invited into a bar with the promise of dancing and live music. The trouble was most of the patrons were about 14; one had his skateboard under his arm. We left.
@43 When I do go I'll ask some locals to do the national 'Malvinas Argentinas' song and dance and get them really excited about it and I'll video it. Then tell them I'm british and see how they react.
Mar 25th, 2012 - 09:06 pm - Link - Report abuse 0It's always a fun trick with argies, to make them look awkward.
In fact the place looks so “menacing”, tourists travel the wine roads on bicycles.
Mar 25th, 2012 - 10:18 pm - Link - Report abuse 0http://www.tripadvisor.co.uk/ShowTopic-g312781-i5017-k3481651-Safety_in_Mendoza-Mendoza_Province_of_Mendoza_Cuyo.html
Darn, those fibbing tourists throwing the Argentina is Hell narrative out the window alongside the greens of Mendacious Lane. Of course crime does occur, 90% of VIOLENT crime is one where victim and perpetrator know each other, either family or business disputes. Argentina today is safer than the USA was in the 1980s and early 1990s, certainly safer than many corners of London (and that is without the terrorism threat, speaking of Police and cameras in every corner; I certainly discourage everyone from going to London for the Olympics).
One must acknowledge, Elaine has the capability to “massage” a story to give it the flavor of her bias, without seeming “contrived” or overtly tendentious. I would like her to post actual news stories of tourists facing armed robberies at the wineries at any time in the last 10 years. I mean, if one is going to make claims, is it much to ask to substantiate them?
@Tim
Is there one British/Anglo who does not believe they are genetically superior by default? I have no UK ancestry, and I can engage in colloquy with you in French, German, Portuguese, and Spanish also.
It is not UK ancestry that permits me this ability, it is hard work and self-accomplishement.
@45TTT,
Mar 26th, 2012 - 09:40 am - Link - Report abuse 0Why did you change your name, tobias?
Can you prove that you have no UK ancestry?
For example, what nationality was your maternal grandfather's, grandfather's,mother's,grandmother's, great-grandfather?
Might have come from Bristol, a very cosmopolitan port in the 16th century.
We don't believe that we're genetically superior to anyone.
That's just your paranoia.
Relax, tobias, we don't hate you.♥
So, you are saying I'm correct, you are not superior, which means your friends are wrong in their beliefs which they clearly express explicitly in their comments about “latin” culture, Spanish/Italian/French “fighting”, indians (ask xbarilox how he likes indians), and so forth and so forth. I'm right, no one is superior.
Mar 26th, 2012 - 05:50 pm - Link - Report abuse 0Furthermore, Mendoza is not a “menacing” place, does it have problems like everywhere? Of course, is it spooky to walk downtown in the day or weekends? or bike the vineyards, or go to the huge park west of town? No! “Menacing” is Caracas as night, menacing are the bad areas of Rio and Sao Paulo, menacing is any European underground, specially during important events, menacing maybe New York City any time as you don't know what may happen. Right again.
Them Fools!
...and yet Another Victory of reason, logic, and intellect, brought to you by the TTT™ (all rights reserved).
Till la proxima fools!
45 TTT. I think you will discover that anyone of Northern European origin will look down their noses at those of VERY Southern European origin; remember that these latter arrived totally illiterate and the northerners arrived mainly well educated as entrepreneurs and in managerial capacities. If Argentina was of mainly Northern European origin the country wouldn't be in the mess it is. You just have to look at new world countries populated by mainly Northern Europeans (USA, Canada, New Zealand, Australia) and then compare with every country south of the US/Mexico border which suffer from a very high degree of corruption, poverty, illiteracy, backwardness etc. Just go and ask the forefathers of Argentina why they wanted Northern European immigration (Sarmiento et al...). You apparently live in the vine area so you must know that a lot of the original vineyards were put up by hard working Northern Italians.
Mar 26th, 2012 - 11:28 pm - Link - Report abuse 0@47TTT,
Mar 27th, 2012 - 08:09 am - Link - Report abuse 0Are you alright, tobias?
Sometimes l worry about you.
DON'T get suicidal, it's NEVER worth it.♥
Hehe!
Mar 27th, 2012 - 08:28 pm - Link - Report abuse 0Commenting for this story is now closed.
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