Answering to the last issue of the Bricks of Gold e-zine: >Argentine Inflation
There's still no inflation! 1 Peso = 1 US$ yet. >They have devalued their currency and are waiting for large loans from the IMF. ALL loans coming from abroad (Including the $1.26 billions) have been denied last night. According to the Clarin newspaper (www.clarin.com) it's a total of US$ 5 billion that we won't get thanks to our minister Cavallo. On the other hand, I think this is good, because Argentina would have been even more indebted. >They have also passed rulings that limit the amount of money which can be withdrawn from bank accounts and the amount which may be taken out of the country. That's true. People is still used to pay for everything in cash and that has been a sudden violent change, because we will have to pay for most things with a debit card, which most people doesn't have yet. The government says they want to control tax evasion and money laundring. Anyway, half of the working class earns 400 pesos (= US$ 400) or less; so withwrawing 250 per week is more than enough (If you can survive with that!). But of course many people who need to make large transactions in cash are largely affected. Cavallo established those withdrawal restrictions because all people was suddenly taking all money out of the banks because they feared devaluation. But it really looks like the most probable thing to happen will be dolarization, NOT devaluation. Just read the news (If you understand Spanish :) Regards, Alexis. http://www.RestYourEyes.com -> Just Rest Your Eyes... http://www.GoldenRaffle.com -> Still looking for sponsors... --- You are currently subscribed to e-gold-list as: [email protected] To unsubscribe send a blank email to [EMAIL PROTECTED] http://www.e-gold.com/stats.html lets you observe the e-gold system's activity now!
