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Argentina better hire more currency-sniffing dogs as dollar deposits continue to flee the...

Argentina better hire more currency-sniffing dogs as dollar deposits continue to flee the country, now off 42.3% since October. Following the government appropriation of the energy industry, depositors and investors aren't waiting around to find out the next target, writes Sober Look.
Comments (5)
  • Eva Peron II.

     

    No wonder they've been chasing down all the old generals and ginning up new charges. They're going to be polishing up their ceremonial swords all over again for a new stint running the country soon.
    30 Jul 2012, 03:03 PM Reply Like
  • Hasn't Argentina already nationalized all the retirement funds that are similar to 401Ks? I seem to recall this happened about 5 yrs ago.
    30 Jul 2012, 03:06 PM Reply Like
  • Yes they did...and now they are going after assets.....yours...a Socialist never quits until they are removed from office....
    30 Jul 2012, 03:32 PM Reply Like
  • Kudos to Christina Kirchner for running the economy into the ground and for policies that have sent investors and dollars heading for the exits. Argentina is no longer a haven for any investment including any oil and gas major that is even thinking of going in to partner with YPF. Investor beware! The outright theft of YPF should serve as ample warning for any that are foolish to even think of investing in Argentina. Take your hard earned dollars elsewhere!
    30 Jul 2012, 04:50 PM Reply Like
  • I lived in Argentina for a while, travel there frequently, and have family there. No sane Argentine keeps his money in a local bank, and hasn't for years. If you want to see where the money is, go to Colonia, Uruguay, a city with 400 some odd banks, or to Punta de Este, Uruguay where the wealthy Argentines have their mansions, and spend their vacations. Argentina has been a failed state, to a greater or lesser degree, since the end of World War 2. Somewhere I have a 1 Peso Argentine banknote, issued in 1945. It was worth about a U.S. Dollar when it was issued. Today, it would take about 1 MILLION of those bills to buy 1 dollar! Enough said?
    30 Jul 2012, 04:58 PM Reply Like
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