Do you want to panic ?
- It will be interesting to see the governmental measures being taken in January, since like many countries, the main vacations month is often used to pass unpopular decisions.
- This dollar run will extend to a peso run after!
- There are rumors about a Tax to be levied on bank accounts!
- There is another rumor (many rumors, lol) that a Constitutional reform will allow Cristina to get elected for a 3rd time! (or worse, Jorge Altamira is preparing a Putsch, get ready for the IVth International!)
- This panic works like a vicious circle or an "autorealisation" prophecy -> will ruin trust -> will bankrupt the country. Panic! Panic!
Do you want not to panic?
- People rushing on USDs are excessively dumb (would be the same thing buying Euros, for different reasons): they should buy a basket of Norwegian Krone, CHF, NZ/CAD/AUS dollars (to be checked) + 5% in Gold (insurance). Furthermore, some seem to be ready to pay up to 5.20 -> Way too high (dirty money = better fiscal control will help the economy).
- Liquidation of another record season of soy/corn/wheat production is starting now and will last a few months!
- There are no cow related diseases & such in the World right now (main use for Soy) + US production was not too good this season (if I recall right) so the 2011/2012 Soy season looks quite promising (anyway, World ends in Dec 2012, what the heck?)
- Deposits in foreign currencies are of a value of 14/15 Billion dollars (already diminished by 2 or 3 I believe?). It is precisely being demonstrated that all the amouns can be & are paid (but there's a Sheep effect indeed -some would say "Panic"-).
- Dollar Future hardly hits the 5.00 level by the end of 2012.
Be Conservative (I am into some aspects, while progressist in some others), "The Market is Always Right!" ->
http://popuprofex.primary.com.ar:7001/MarketPricesViewer/html/rofexddf/nopopup.html
My opinion: This Sheep effect presents indeed a risk of an autorealized prophecy, and some medias don't help. Also, Argentina being a Latin country like France (the interesting etymology of Latin America
http://en.wikipedia.org/wiki/Latin_America ), things are often done in a happy mess (hence the terminal problems at the start). But well, it has been implemented very quickly and quite efficientely, system probably needs to be tuned a bit, normal. I live in Argentina and I wish the best for this Country, supporting the so-called "Panic" seems to me unfair, so better name it a Sheep effect. This reform has virtues: Better fiscal control, better control also on the currency (The QE1,2,3,4 -?!- policies, very soon to be adopted in the Eurozone by the ECB alors also "unorthodox" methods to say the least). Do not forget (whatever your opinions are) that those measures are taken in a context of very high tension with some very powerful medias (they are defending their own interests, normal).