MercoPress. South Atlantic News Agency
Argentines will have “to change their mentality and start thinking in Pesos”
Argentine Senator Aníbal Fernández and Interior Minister Florencio Randazzo came on stage in defence of the new restrictions placed on the purchase of dollars by assuring “they are there to preserve the value of the currency,” and that further actions might be taken. Read full article
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Disclaimer & comment rulesNow we have the thought police in Argentina! Think this way or you are a traitor.
May 30th, 2012 - 06:27 am - Link - Report abuse 0Would you say the same about UKIP for thinking in terms of our own national currency Beef??
May 30th, 2012 - 09:38 am - Link - Report abuse 02 I don't think that is really the same, is it? (Rhetorical)
May 30th, 2012 - 09:50 am - Link - Report abuse 0UKIP are advocating not changing our entire currency for another one and, though I don't like their policies, they seem to have been proved right. This is not the same as a government trying to force people to save in Pesos because it suits their financial model, especially when they know that the US$ is historically a safer haven for saving in Argentina. Furthermore, trying to sustain the value of the Peso is not really helping the economy (especially when you consider that other SA countries are gently devaluing to help competitively). It would be a little like my government telling me that I have to stop thinking in Sterling and that I should have all my savings in Euros without any fundamentally compelling reason apart from “it's what we want you to do”. My reaction to this would be “pi$$ off. Provide the frame work for me in which to live but do not start controlling my actions from day to day”. If they really want Argentineans to start thinking in Pesos then they should probably enforce it by outlawing saving in anything but Pesos.
BK - I think in may currencies (partly because I occasionally trade and spread bet them). However, I have cheque accounts in GBP, USD and EURO because in my line of work I receive payments in a number of currencies.
May 30th, 2012 - 11:31 am - Link - Report abuse 0The GBP is stable and the reason you Argentines are not thinking in the Arg Peso is because it is inherently unstable hence your gvt repressing the economic freedom of Argentines to plug the dam and try to delay the inevitable.
Bit of a pointless post of yours wasn't it.
@3 & 4 Don't knock it, guys. The reason the argie governmint want the argie peasants to think in “pee-sos” is because “pee-sos” are easier to “pee” up the wall or down the drain. And CFK and her pals can have all those lovely greenbacks for themselves. Can anyone conceive of CFK making a run for the plane loaded down with “pee-sos”? And who would want the “pee-sos” when she gets to her little hideaway? Tip for argies: If you want to know where CFK is going, make a list of countries that argieland doesn't have extradition treaties with? Also a place with palaces!
May 30th, 2012 - 12:04 pm - Link - Report abuse 0This statement is hypocritical and misleading.
May 30th, 2012 - 02:18 pm - Link - Report abuse 0Only 11% of Argentines save in US dollars. Yes well they are the richest 11% and proportionally the savings will constitute far far more than 11% of the total savings. It matters obviously. Also these politicians, La Campora etc are very much part of the problem. They are amongst the 11%. They buy their houses and other big purchases, in US dollars they put their money in overseas bank accounts. Hypocrites.
the ck-gang acts as the former DDR - german democratic republic - before it collapsed.
May 30th, 2012 - 02:27 pm - Link - Report abuse 0@5
May 30th, 2012 - 03:15 pm - Link - Report abuse 0In 2009 a wealthy Venezuelan enlisted by Chavez's government was stopped in Miami with a suitcase stuffed with cash and was subsequently sentenced to 4 years in a US prison. Testimony in the two-month trial raised allegations that the suitcase was part of a larger gift of about $5 million from Chavez for CFK'S political campaigns.
Also, dollars are being withdrawn from Argentine banks at the rate of $100 million per day as savers grasp for greenbacks and the curbs on access to the dollar have made Argentinians nurvous about the peso.
@8
May 30th, 2012 - 03:23 pm - Link - Report abuse 0“Testimony in the two-month trial raised allegations that the suitcase was part of a larger gift of about $5 million from Chavez for CFK'S political campaigns.”
I've seen this a couple of times. Raised allegations means very little. Was there any conclusive proof?
@9 Chavez and CFK are joined at the hip.
May 30th, 2012 - 04:44 pm - Link - Report abuse 0What? So many zeros :))
May 30th, 2012 - 05:00 pm - Link - Report abuse 0The new peso rules//regs came right out of Chavez's playbook.
May 30th, 2012 - 05:02 pm - Link - Report abuse 0So if you want to see what BA will look like by the end of CFK's term take a look at Caracas. Venezuela used to be able to feed themselves prior to Chavez. He also destroyed their oil business funneling all the profits to his cronies and supporters.
yanqui
May 30th, 2012 - 05:58 pm - Link - Report abuse 0Venezuela has improved a LOT since Chavez gained power :)
Look, this is
http://www.youtube.com/watch?v=8hnJfxzks9E
It's CNN showing what CEPAL (ECLAC) says about Venezuela and Chavez :)
Now, do we believe them, or you? :)
(3) Welsh Wizard
May 30th, 2012 - 06:18 pm - Link - Report abuse 0You say…:
”It would be a little like my government telling me that I have to stop thinking in Sterling and that I should have all my savings in Euros without any fundamentally compelling reason apart from “it's what we want you to do”. My reaction to this would be “pi$$ off.
I say:
No……..; It would be a lot more like the following constructed example…:
Let’s say that Britain was in dire financial straits because of an inimaginable financial crisis caused by some greedy bankers …
Let’s say that Britain taxing system had colapsed because of that inimaginable financial crisis caused by some greedy bankers…
Let’s say that Britains 11% richest persons decided to invest all their untaxed monies in Chinese Yuans …
If your government asked them to stop thinking in Chinese Yuans and start investing in £ Sterling without any other fundamental compelling reason apart from “ The £ Sterling is OUR national currency, not the Chinese Yuan”…………….
Would your reaction to that still be “Pi$$ Off ???
only about 11% of people have their savings in dollars but you can bet that represents about 90% of the money. :)
May 30th, 2012 - 06:24 pm - Link - Report abuse 0LOL! It's not the same at all Thinky boy. The Argentine situation is talking about ordinary bank accounts.; not managed funds and other longer term forms of investments. Still, at least it's no bother to you to have to tell your government what you're up to. LOL!
13. By EVERY INDICATOR Venezuela is a disaster, destroyed by Chavez and Argentina is on the same road to ruin. If you can't see that you are a half wit and I can't be bothered trying to explain it to you.
May 30th, 2012 - 06:31 pm - Link - Report abuse 0yanqui
May 30th, 2012 - 06:39 pm - Link - Report abuse 0Post ONE (1) of those “indicators”
In the meantime, I'll post you the truth:
http://www.csmonitor.com/World/Americas/2009/0202/p01s03-woam.html
“Argentines must think in Pesos” but CFK hotel charges in Dollars!!!
May 30th, 2012 - 06:55 pm - Link - Report abuse 02009 is not 2012...is it?
May 30th, 2012 - 07:00 pm - Link - Report abuse 0try this one
http://www.usatoday.com/money/world/story/2012-05-28/venezuela-oil/55248628/1
the problem is in a few years the people who invested in the dollar will prosper with there savings. a dollar presently work 4.49 pesos a year prehaps 6 pesos, 10 year 200 pesos.
May 30th, 2012 - 07:23 pm - Link - Report abuse 0there money wont go up in value. the prices in Argentina will continue to go up in line with inflation. if you intend to save in country's like Argentina it is better to put your money in safer currency's. dollar, yen, pound or Renminbi will continue to be stable for the moment.
Keep your money in Argenina and your 4 pasos will be worth 4 pasos. moving it to other currencys it will be worth loads more pasos
yanqui
May 30th, 2012 - 07:47 pm - Link - Report abuse 0What is oil compared to social development? :)
You seem to think that we all should follow your dreams of money... Look where it got you... All fine if your happiness lies in pieces of papers, ours don't...
Social development would include food for people right? THEY ARE STARVING IN VENEZUELA you boob.
May 30th, 2012 - 07:54 pm - Link - Report abuse 0yanqui
May 30th, 2012 - 08:02 pm - Link - Report abuse 0I just posted you a link telling you otherwise.
I posted you another link where, according to the CNN, the ECLAC (not Venezuela), says that poverty has been extremely reduced in Venezuela, and that they are very interestred in Chavez' “misiones”, wanting to know how he managed to do it.
I don't believe you, and I'm obviously not the only one :)
Gov't stats out of Venezuela are as reliable as Argentina's. You OBVIOUSLY have never been there. It is DISGUSTING, DANGEROUS and BLEAK! CARACAS IS THE MURDER CAPITAL OF THE WORLD...INCLUDING WAR ZONES!!!
May 30th, 2012 - 08:14 pm - Link - Report abuse 0Is life a “social developed” ? You are either retarded or you are just efff'in with me right?
yanqui
May 30th, 2012 - 08:42 pm - Link - Report abuse 0Again, read my post, it's not Venezuelas gov't presenting you the numbers I posted, its ECLAC :)
Try again :)
Um where do you think WB & UN get their source numbers? Are you really that dumb?
May 30th, 2012 - 08:44 pm - Link - Report abuse 0As if Usatoday is a more reliable source than ECLAC :)
May 30th, 2012 - 08:45 pm - Link - Report abuse 0Yes I would think so..
May 30th, 2012 - 08:50 pm - Link - Report abuse 0I am done arguing with the maid...so
Off to my club for a work out and swim it is very hot here today
yanqui
May 30th, 2012 - 09:14 pm - Link - Report abuse 0http://www.youtube.com/watch?v=f4nCdEMhnuM
:) :) :)
He just ate a clown hahaha Cristina Fernández de Kirchner thinks in Dollars, why will people do different? hahaha
May 30th, 2012 - 09:30 pm - Link - Report abuse 014 Thinky Chap
May 31st, 2012 - 08:31 am - Link - Report abuse 0Thanks for the example, I was thinking of using something similar but didn't as I wasn't sure that it quite hit the spot. The difference is that we are not used to saving in another currency or have a history of dual currency operation in the country. Our fiscal stats are reported in our sovereign currency. Our national debt is issued in our sovereign currency. Our provincial debt is issued in our sovereign currency. Our saving are kept in our sovereign currency. We have not pegged our sovereign currency against the US$. You cannot use anything but the sovereign currency with which to pay for goods. As such I think that analogy doesn't quite work.
It is difficult to for the government as they will face an uphill struggle to get people to think in Pesos. To facilitate this process I'm not sure what they could do but I suppose they could ban use of US$ as tender within the county. Make sure all provincial and national debt in future is issued in Pesos. Make sure all external fiscal stats are issued first in pesos and then in US$ a day later (for example). Also, ban people from saving in US$ and make people save only in Pesos (this would not be too difficult as only 11% of the population save in pesos I think...?). I think it is quite tricky to ask people to think in pesos when they are used to seeing US$ and US$ continue to be part of the system. Out of sight out of mind is probably the easiest way.
The reason that Argentines always think in terms of dollars is simply that they cannot trust the criminal politicians running the country. How many times have hard-working citizens been fleeced of their savings. Once, twice, thrice bitten!
May 31st, 2012 - 09:19 am - Link - Report abuse 0Leak rate today ( I'll post because THINK won't) is U$1/6.5!! I'm hearing 8/1 by July
May 31st, 2012 - 02:04 pm - Link - Report abuse 0It will be fun to watch the panic set in...
Let's post this link here for posterity:
May 31st, 2012 - 07:40 pm - Link - Report abuse 0http://www.buenosairesherald.com/article/102312/i-save-in-dollars-because-i-feel-its-my-right-to-do-so-aníbal-fernández
BUT SOME ANIMALS ARE MORE EQUAL THAN OTHERS
May 31st, 2012 - 09:06 pm - Link - Report abuse 0When will they ever learn???
This is the problem with you yankeeboy, you believe that this Orwellianism only applies to “third world” republics.
May 31st, 2012 - 11:46 pm - Link - Report abuse 0You actually really believe in the USA everyone is equal, or in any other major European country. You are run by a intelligentsia of
millionaires, politicos, and nabobs of industry. The best part they seem to have you totally bought in to the illusion that if push came to shove (see: ”Hollywood doomsday movies), that you will be equal to them. Total wile.
The recurring theme in those films? The “1%” saves itself in a spaceship, underground city, or “ark”. I'm betting you are not in that 1% of money, intellect, or government.
(at least I know I will be in that 1% of intellect with my 7 languages and multiple degrees in a couple of years) :)
I guess I'll see you from the ark... maybe we'll open the doors for you.
Toby, You are so wrong on so many levels I can't begin to explain on this board. Suffice it to say EQUAL as you mean it or FAIRNESS as Obama means it are bastardizations of the words by Socialists and Communists and most people in the USA abhor them.
Jun 01st, 2012 - 11:14 am - Link - Report abuse 0You have never been here and since you grew up in a corrupt socialist society you will never understand and I feel sorry for you.
BTW I still stand by my statement you are THE SMARTEST MONKEY IN THE JUNGLE at least you think so and that is all that matters.
I know exactly what you are talking about. I don't believe in FAIRNESS. I believe in evolution, I believe in mercantilism. In both, there are winners and losers.
Jun 01st, 2012 - 04:32 pm - Link - Report abuse 0Notice I didn't say people are equal in Argentina, or in Cuba, or in Sweden or in the USA. I'm saying precisely the opposite, they are not!
It is you who believes that in the USA, or wants to make me believe, that people have “equality in opportunity”, and they will be given a chance if they produce something. That has not been the case a long time, sorry to tell you.
Which is why your social mobility as measured in movement to or from low/middle/upper class is at an all-time low, and plunged dramatically since 1998.
#37 So let me get this right, you think most Americans support capitalism because they think its NOT fair? I always thought the idea of the American Dream, which made it such a powerful myth, was that American capitalism WAS meritocratic and fair!
Jun 02nd, 2012 - 10:08 am - Link - Report abuse 0I support the Argentine government for their stand on US dollars, but the goal could much better be achieved by collecting a % fee on all Foreign exchanges, taxing real state on the denomination a property origination traded for can be a strong tool for the government to bring in foreign surplus and keep the Argentine pesos. Afloat.
Jun 03rd, 2012 - 04:38 pm - Link - Report abuse 0Commenting for this story is now closed.
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