MercoPress. South Atlantic News Agency
As confidence vanishes, US dollar in Argentina breaks new record: 14.20 Pesos
Despite appeals to national unity from president Cristina Fernandez, the US dollar, Argentina's best test for confidence, climbed 22 cents to a new record in the informal market at the end of Tuesday's trading: 14.20 Pesos. Read full article
Comments
Disclaimer & comment rulesHigh inflation paired to economic growth.
Aug 27th, 2014 - 06:14 am - Link - Report abuse 0Does that happen?
'...high inflation loses relevance if paired to economic growth...'
Aug 27th, 2014 - 06:34 am - Link - Report abuse 0Bahahahahahahaha
Well I guess all Argentina needs is growth because it sure as hell has enough inflation.
Looking at the foto of the two, which would you rather trust with your savings ?
Aug 27th, 2014 - 07:00 am - Link - Report abuse 0With your economy ?
With running your country ? ( and not into the ground, and into more debt )
“...appeals to national unity from president Cristina Fernandez...”
Aug 27th, 2014 - 07:33 am - Link - Report abuse 0she appeals only for her own fortune, not for that of the people. this arg ck robberment gang is a big, big misfortune for the whole country, only exceeded by the military regime.
poor, poor arg!
Where is Think? He's never around when you need him.
Aug 27th, 2014 - 07:41 am - Link - Report abuse 0Is this all part of Axel's genius plan? Is this the darkest of the night before the dawn or are we barely into dusk yet?
Appeals from CFK don't work to curb rising dollar or inflation because “bullsh*t walks and money talks.” And that has been true since time immemorial.
Aug 27th, 2014 - 09:19 am - Link - Report abuse 0Did you see the news items where Kicillof has become a bit of a celebrity in Argentina? He has his own little groupies following him around and he is happy to have pictures taken with them.
Aug 27th, 2014 - 09:21 am - Link - Report abuse 0Even the devil has disciples.
Aug 27th, 2014 - 09:57 am - Link - Report abuse 0When you resort to “appealing for national unity” you know your number's up.
Aug 27th, 2014 - 09:57 am - Link - Report abuse 0@9 CFK also threw this into the mix….
Aug 27th, 2014 - 10:20 am - Link - Report abuse 0“During the ceremony, the President also supported the idea to move Argentina’s capital from Buenos Aires city to Santiago del Estero.
“Maybe we should discuss the moving of the country’s capital to Santiago del Estero. It’s an idea, we have to discuss it. We have the need to re-design the country, strategically speaking,” she concluded, as she recalled former President Ricardo Alfonsín's similar iniciative, and highlighted former President and husband Néstor Kirchner had supported that measure.”
Does she think if they move the bailiffs won't find them?
I do not understand why BCRA is spending any U$ to support the Peso. They're going to get themselves into a tight spot really quickly when they can afford neither Fuel or Peso support.
Aug 27th, 2014 - 10:45 am - Link - Report abuse 0There's nothing left!
I don't understand why they don't get this?
Everyone and I mean everyone is talking about 50%+ inflation this year. And a 20/1 Peso.
If this keeps up at the same pace CFK will be forced out of office before her mandate is up.
10 ElaineB
Aug 27th, 2014 - 10:58 am - Link - Report abuse 0What reason is behind changing the capital city? The only thing I can think of is an opportunity to lose documents (as well as swathes of cash) in the move.
Elaine, perhaps there are no lamposts there?
Aug 27th, 2014 - 11:13 am - Link - Report abuse 0How long would it take to reverse this down ward spiral if a better, less peronist/socialist government came into being? We can all see the mess CFK has made but is there anyone here who could educate on moves that could actually benefit Argentina? well apart from removing CFK and cronies from office.
Aug 27th, 2014 - 11:21 am - Link - Report abuse 0How the hell did the Argentine people vote her party in power twice. Her PR department must be awesome. I would hire them. I bet they could sell snow to Eskimos.
She is determined to go the Venezuelan way. We will see 20/1 peso by the end of year, but we need it considering the 50% inflation here.
Aug 27th, 2014 - 11:41 am - Link - Report abuse 0“Kicillof has contended that high inflation loses relevance if paired to economic growth” ( that means full steam ahead for the printing press till election time next year).
Time for the new “Mil peso” bank notes.
Glad I am hoarding all the USD I can get at the moment!
@14. How? It's called “Jam Today”. One of the ways out is called “austerity”. Cut all “government” salaries. Impose a wage freeze countrywide. End all government “projects”. We all know what an elephant is. A mouse built to “government” specifications. A new mantra. “We can't afford it, so we can't have it”. Replace cars with bicycles. Increase production of candles. Switch off power. Go through every current “law” and rip up 50% of them. A new approach. If the “government” sends a Bill to Congress, it is automatically defeated. The “government” has too much power and not enough integrity. Speaking of “integrity”, make “viveza criolla” illegal. Any hint should result in sanctions. Re-educate the population.
Aug 27th, 2014 - 12:00 pm - Link - Report abuse 0There was a poster to disappeared named Dany Berger or something and last year he was arguing with me that the Peso is strong and everyone was stupid to buy U$.
Aug 27th, 2014 - 12:01 pm - Link - Report abuse 0I disagreed and told him to put everything he has into the Peso and get back with me in a year.
I am still waiting.
:)
Even stupid Think said buying the peso at 12 was a waste of money. That poor sap has never had one accurate post in his life.
10 ElaineB
Aug 27th, 2014 - 12:19 pm - Link - Report abuse 0She also said “Even opinion polls were to say 80-90% were against the move, the natural leaders of the country never make decisions based on polls but based on the strategic needs of a country”
http://www.lanacion.com.ar/1721965-cristina-kirchner-dijo-que-santiago-del-estero-podria-ser-la-nueva-capital-de-argentina
@15 I'm borrowing all the pesos I can at the moment. If this government wants the poor to subsidise the middle and upper class via inflation, then who am I to say no
Aug 27th, 2014 - 12:20 pm - Link - Report abuse 0@18 Don't you think it is just another sign she has not a clue what to do and clings to anything Nestor suggested. She was never meant to be President without him telling her what to do and much as she seemed to love the unrestricted power at first - sacking all of Nestor's advisors - she must realise she hasn't the intellect to figure out what to do now.
Aug 27th, 2014 - 12:30 pm - Link - Report abuse 0I was no fan of Nestor's but I doubt he would have put the country's future in the hands of the boy Kiciloff.
The moving the capital bit comes up regularly, it's like the Malvinas nonsense, nothing will ever happen.
Aug 27th, 2014 - 12:33 pm - Link - Report abuse 0I just love the final sentence of @ 1:
“Well I guess all Argentina needs is growth because it sure as hell has enough inflation”.
They can always get more!
@10 - Its a distraction play and an opportunity to rig electoral districts... What it definitely isn't is a strategic move for the good of the country. Not exactly CFK's thing the old “thinking beyond the current crisis” approach.
Aug 27th, 2014 - 12:43 pm - Link - Report abuse 0Yankeeboy, ElaineB, Chris R.
Aug 27th, 2014 - 12:47 pm - Link - Report abuse 0Do you think it's yet another national stragedy of distraction.
Not unlike 1982.
I mean what could be more guaranteed to distract and involve a population, more than the movement of a nations capital?
23. Its probably to drive speculative land prices in SDE. There's barely any paved roads in that Feudal Province!
Aug 27th, 2014 - 12:54 pm - Link - Report abuse 0The idea will die out as her gov't goes down in flames.
I do believe the Argentine government has cracked something no other country hasnt.
Aug 27th, 2014 - 01:04 pm - Link - Report abuse 0According to this story they have an amazing economic growth whilst ignoring massive inflation, corruption and unemployment. Hurrah Christina! She'll be the next evita lol
A decade won.
Aug 27th, 2014 - 01:09 pm - Link - Report abuse 0I believe that's the slogan your looking for.
What do you call a nation of people who have their heads shoved up their arse?
Argentine!
Kicillof got his job because CFK heard him as an Elvis impersonator singing “It's a one for the money.”
Aug 27th, 2014 - 01:19 pm - Link - Report abuse 0That automatically qualifies him as a financial genius in Argentina
Or perhaps?
Aug 27th, 2014 - 02:15 pm - Link - Report abuse 0A future president.
God help em!
I found someone explaining Argentina's economic policy through the medium of interpretive dance:
Aug 27th, 2014 - 02:19 pm - Link - Report abuse 0https://www.youtube.com/watch?v=hMkV-B9RSEI
@25,
Aug 27th, 2014 - 02:32 pm - Link - Report abuse 0More likely she'll be the next Isabelita “headed” off to a sanatorium allegedly suffering from a relapse of her brain blood clotting. Meanwhile, her Lopez Rega -like duo of Cap and Kic will slip into exile like Moreno has already done quietly living the life of Rileys with the booty they've managed to steal.
They say Capitanich, while governor of Chaco (the poorest state in Assholetina), stole hundreds of millions while occupying that position. Some people in Chaco actually didn't and don't have sufficient food and water to survive as normal human beings while their ex-Governor has amassing his ill-gotten fortune.
Where are these socialists when it comes to sharing their own wealth? Or is that just for foreign capitalists YPF and Donnelly?
Kiciloff and Timerman hate Argentina more than anyone.
Aug 27th, 2014 - 02:34 pm - Link - Report abuse 0http://www.rediff.com/business/report/special-eleven-countries-that-can-soon-go-bankrupt/20140826.htm
Aug 27th, 2014 - 02:41 pm - Link - Report abuse 0And one of them is Argentina...
Hmmmm!
Aug 27th, 2014 - 02:43 pm - Link - Report abuse 0That's rather an amassing theory!
@12
Aug 27th, 2014 - 02:44 pm - Link - Report abuse 0Looks like she is trying to remove the government from the site with the largest and most turbulent mobs. ;)
7. I predicted the celebrity thang with Elvis a few months ago. It was to easy/obvious.
Aug 27th, 2014 - 02:59 pm - Link - Report abuse 025. After all - Elvis is an economics scientist.
27. I was saving that line. Oh, well. Enjoy!
@11 They are supporting the peso because they are sh*t scared of hyperinflation. Once they run out of dollars they will ration everything I guess.
Aug 27th, 2014 - 03:14 pm - Link - Report abuse 0@14 “How the hell did the Argentine people vote her party in power twice. ”
Growing economy, cheap credit, discounts when paying with credit cards, subsidies. But yes they do have a good PR team. They are masters of manipulation.
I don´t think they will move the capital, none of the politicians wants to live in a dumpster like Santiago del Estero. I think it is just pandering to Zamora.
36 hours of marches and pickets blocking junctions.
Aug 27th, 2014 - 03:56 pm - Link - Report abuse 0Still, if it was not for, “The decade won.” It could be worse.
WTF are they going to grow a pair and get rid of them!
So, blue shooting up and they will have to devalue. Let me guess, they knew this was going to happen, they just wanted to have the “supply law” in place so that when it did happen, they could control prices...silly, silly people...
Aug 27th, 2014 - 04:21 pm - Link - Report abuse 036. Hyperinflation is right around the corner spending the little bit of u$ they have left is just bringing it on faster.
Aug 27th, 2014 - 05:00 pm - Link - Report abuse 0Silly people, always doing the exact opposite of what most would consider to be sane.
Argentinas new NationalcAnthem….
Aug 27th, 2014 - 06:34 pm - Link - Report abuse 0http://m.youtube.com/watch?v=bNPJuJSVmNA
Suck on that Twinkey
Surely the country should have collapsed by now,..
Aug 27th, 2014 - 07:21 pm - Link - Report abuse 0The last paragraph of this article reads like a nightmare.
Aug 27th, 2014 - 08:27 pm - Link - Report abuse 0Supply law...let the hording begin.
Aug 27th, 2014 - 09:00 pm - Link - Report abuse 014.65/1
Holy crap.
@39 That's why I said they would ration everything when they run out of dollars. The more things get out of control the more extreme the government gets in an attempt to be in control, or at least get “revenge” on the capitalists.
Aug 27th, 2014 - 09:51 pm - Link - Report abuse 0I hope you all took me up on my hording Sugar idea. Its coming. Its coming.
Aug 27th, 2014 - 10:22 pm - Link - Report abuse 0would it be fair to suggest, that the more desperate the Argentina government becomes, the more nervous its neighbours should be.
Aug 27th, 2014 - 10:31 pm - Link - Report abuse 0Precisely, Briton.
Aug 28th, 2014 - 12:20 am - Link - Report abuse 0We are already there.
True...
Aug 28th, 2014 - 07:47 pm - Link - Report abuse 0Commenting for this story is now closed.
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