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dipsydoodle Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-02-11 04:22 AM
Original message
Argentina tightens dollar exchange controls
The Argentine government has imposed new restrictions on the purchase of US dollars, in an attempt to reduce capital flight and tax evasion.

People wanting to exchange Argentine pesos for dollars must now explain where they got the money, and show they have paid their taxes.

Currency trading in Buenos Aires on Monday was much reduced as a result.

Many Argentines buy dollars to protect their wealth from inflation - thought to be higher than officially stated.

http://www.bbc.co.uk/news/world-latin-america-15532101
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Peace Patriot Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-02-11 11:16 AM
Response to Original message
1. "...thought to be higher than officially stated." ?? Kee-rist!
The BBCons have now outdone the Associated Pukes in the use of the passive (no visible actor) English sentence.

I had thought that the A-Pukes could not be topped, with their "His critics say..." technique in their campaign against Hugo Chavez.

--

"Many Argentines buy dollars to protect their wealth from inflation - thought to be higher than officially stated." --from the OP (my emphasis)

--

"Thought" BY WHOM?

No quote. No attribution. Nothing. These non-entities who "thought" inflation "to be higher" than government stats, and who are described as "independent experts" further down in the article, move like invisible vampires (no mother, no father, no name, no employer) in the murky swamp beneath this article.

That's the worst of the rightwing/corporate 'news' treacheries in this so-called 'news' article--the anonymous "critics' (if they exist) who are questioning (leftist) government stats on inflation (--"inflation" being one of the big bugaboos used by the rich to steal, hand over fist, from the poor). No attribution. No quote. No way to know WHO is saying that the LEFTIST government is lying.

But there are more rightwing/corporate 'news' tricks (lies, disinformation) in the article. "Many Argentines" don't HAVE "wealth" TO PROTECT. Only the rich few do! MOST Argentines NEED PROTECTION FROM the wealthy shits who don't pay their taxes and engage in every sort of sabotage of their own country, to squeeze yet more profit from the vast poor majority and in efforts to DESTROY the best government that Argentina has ever had!

The CIA, the USAID, the BBCons and all their propagandist 'news' brethren FAILED to topple this good government. Fernandez just won a huge re-election victory--despite multi-millions of U.S. tax dollars spent to defeat her and non-stop bullshit like this from the corporate press. Given that nasty reality--that they couldn't defeat the Fernandez government--they are now bent upon CAUSING panic in the Argentine economy--an economy that Fernandez and her husband, Nestor Kirchner (former prez of Argentina) fought tooth and nail to return to prosperity after the RAPE of Argentina by the World Bank/IMF and its U.S. and European corporate thugs.

Read down the article, and the malefactors in the rape of Argentina are never identified!

Get this...

--

"Argentina's recent history of severe economic crisis has caused many people to view the US dollar as a safe haven, and to keep part of their wealth outside the country.

In the 1980s the country suffered periods of hyperinflation.

A financial crisis in 2001-02 caused a collapse in the value of its currency and led the government to freeze people's bank accounts. It also defaulted on its foreign debts."
--from the OP

--

This is what the rich and powerful in the U.S. and Europe DID TO Argentina--the "basketcase" that Kirchner and Fernandez have TURNED AROUND. Jeez, there are such LIES embedded in this BBCon article!

--

Now read this...

--

"The new currency controls were introduced a week after President Cristina Fernandez de Kirchner was reelected by a huge margin.

Under her leadership Argentina has enjoyed sustained economic growth.

But inflation has also risen - the government says the annual rate is around 10% but some independent experts put it as high as 25%.

Billions of dollars worth of capital have been flowing out of the country as wealthy Argentines seek to protect their money from inflation and a possible devaluation of the peso."
--from the OP (my emphasis)

--

Not only is this a phantom "crisis"--invented by unnamed ghosts in back alleys outside BBCon editorial offices--but they ENDORSE the bullshit of the super-rich that they are NOT evading taxes.

They are also using the CRIMES of the rich and powerful during the 1980s-2001 period as an argument AGAINST this leftist government's SUCCESSFUL policies in OVERCOMING those dastardly crimes! Even 25% inflation--their phantom number--is better than masses of people starving in the streets. And modest inflation means jobs and incomes for the poor majority, shared wealth, schooling, viable life in a country, economic development and a future! EVEN their lie of 25% is not that bad--with a responsible, justice-minded, good government in charge. They are inflating this number in a Big Lie campaign against good government--against government that benefits all. THEY are the "inflators." The wind-bags. The liars! "As much as 25%" MY ASS!

I've said it before. On the Latin American Left, the BBCons are as bad as the Wall Street Urinal. They may be a speck better than other corporate 'news' sources on some other subjects. On this remarkable and historic LEFTIST revolution in Latin America, which is bringing unprecedented prosperity, social justice and good government to a region that has been looted and plundered by the U.S. and Europe for centuries, the BBCons totally suck. They are liars, disinformationists, distorters, propagandists for this rich and downright jerks on this subject.

The Blairites "down-sized" and purged the BBC--when the BBC got uppity about the Iraq War--and one can only assume that the "organized money" that Blair represents has big time interests in helping the U.S. to reconquer Latin America and loot and plunder it all over again.



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naaman fletcher Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-02-11 11:24 AM
Response to Reply #1
2. actually,
it was thought by a number of different investment firms in Argentina, so the government went and made it illegal to disagree with the official figures. That is why they can't get someone to go on record disagreeing with the official numbers.
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Bacchus39 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-02-11 01:32 PM
Response to Reply #1
3. wow, talk about an overreaction. So Argentines are buying dollars to guard against inflation
big deal. It makes good economic sense for the individual. Obviously the government isn't thrilled with the practice so they are implementing strict currency exchange controls.

You actually believe that official exchange rates represent a currency's real value???
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Judi Lynn Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-19-11 04:32 PM
Response to Original message
4. Argentine economy grows 7.7% in September
Argentine economy grows 7.7% in September
November 20, 2011

BUENOS AIRES: Argentina’s economy grew 7.7 per cent in September from a year earlier, beating market expectations and marking the 25th straight month of growth.

The EMAE economic activity index, published by the government on Friday, which measures most of the components of gross domestic product, inched up 0.3 per cent in September from August.

It jumped 9.0 per cent in the 12 months through September versus the same period a year before, the INDEC national statistics agency said.

Latin America’s No. 3 economy is expanding at one of the region’s fastest rates thanks to lucrative grains exports, robust consumer spending and industrial output led by car sales to the country’s top trade partner, Brazil.

More:
http://gulftoday.ae/portal/40b5f7d6-5d93-4d5b-9902-1bed84fee048.aspx

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