Now the banks are the target

[Gringoboy]

Sounds like the government has a great idea. Make the banks lend at below cost, they can make up the difference with volume. Only in Argentina. Sounds like a surefire to put them all out of business, but maybe that's the idea.

I see your point Will, but if that's the idea, what purpose would that serve?
I'm not an economist by any stretch, I'm a writer and all I can see is 'divide and rule.'

 

[notebook.fix]

It's just been announced that the Central Bank will ban the sale of dollars for the purpose of saving...the last nail in the coffin for the real estate industry.

This move has been the precursor to economic disasters in the past under Menem, Alfonsin, Delarua etc etc. You'd think they would have learned something by now? NO way.

As soon as I read about the Videla conviction I knew there was something major coming.

* I wouldn't trust anything I read in the Buenos Aires Herald...it receives most of it's revenue$ from the National K government, and as expected when all the opposition news media is blaring out the dollar Ban news...the BA Herald avoids even mentioning it.

UPDATE: 10.29am - I have just found a very short news article half way down the page...in other words, they had to put it in otherwise they would have absolutely NO credibility as a news service.

Here bellow is the whole article believe it or not.

"CB officially bans purchase of dollars for saving purposes
The Central Bank announced it will officially ban the purchase
of dollars for savings, the latest in a series of measures to
discourage the buying of greenbacks."
http://www.buenosairesherald.com/ar...-bans-purchase-of-dollars-for-saving-purposes

Just a friendly reminder, the BA Herald is a pro-K mouthpiece.

 

[nicoenarg]

It's just been anounced that the Central Bank will ban the sale of dollars for the purpose of saving...the last nail in the coffin for the real estate industry.

This move has been the precursor to economic disasters in the past under Menem, Alfonsin, Delarua etc etc. You'd think they would have learned someting by now? NO way.

As soon as I read about the Videla conviction I knew there was something major coming.

* I wouldn't trust anything I read in the Buenos Aires Herald...it receives most of it's revenue form the National K government, and as expected when all the opposition news media is blaring out the dollar Ban news...the BA Herald avoids even mentioning it.

Thanks for the information. Could you please provide us with a link?

 

[nicoenarg]

Nevermind here it is: http://www.bloomberg.com/news/2012-...ollar-purchases-for-savings-infobae-says.html

 

[Iznogud]

Beware of this: During the corralito, there were no U$D banking operations authorized.
One of my then clients payed me with checks in Pesos and I tried to clear them through my Citibank CC in Pesos.
When it took longer than usual to clear I went to my bank and asked what was the reason for the delay. They told me that the money was already in my CC in U$D. I told them that I had no such account and to please move the money where I could have access to it. Their response was that they had opened the CC in U$D for me (without letting me know or asking for authorization, at a time when it was also illegal) but they could not move the money back to where it was intended to go. Because it was illegal to do so. In other words, no one had access to it, pretty much stollen if you will.

When they started printing funny money, my clients in Provincia could legally pay me with Patacones. i live in CABA and no one wanted Patacones. Those were terrbly complicated times.
Keep some cash around for emergencies. Come summer this might turn ugly if not before that. I've got this "been there..." uncomfortable feeling once again.

Please be careful in the future. Don't let this happen to you.

 

[Gringoboy]

It's interesting to listen to the former editor of the Herald, Robert Cox speaking about his part in uncovering a much more important and repugnant series of events during the de facto rule of Videla.
If that paper was able to pop it's head above the parapet in much, much more dangerous times, I can only say that they have slowly deseminated themselves now into pussyhood.

http://www.bbc.co.uk/news/world-latin-america-18733113

 

[scotttswan]

It's interesting to listen to the former editor of the Herald, Robert Cox speaking about his part in uncovering a much more important and repugnant series of events during the de facto rule of Videla.
If that paper was able to pop it's head above the parapet in much, much more dangerous times, I can only say that they have slowly deseminated themselves now into pussyhood.

http://www.bbc.co.uk/news/world-latin-america-18733113

The Editorials can be pretty anti k but then some are pro k too.

 

[surfing]

The Editorials can be pretty anti k but then some are pro k too.

I don't know who they are really for or against but they are definitely anti-news. You can get more information from a cereal box.

 

[Gringoboy]

I don't know who they are really for or against but they are definitely anti-news. You can get more information from a cereal box.

That made my day.................a cereal box!
I'll dine out on that.

 

[Joe]

All your moneys are belong to us.