Bank run underway in Argentina — 10% of total deposit base withdrawn in just one week!

again?

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The big spenders are cashing in their chips before the casino implodes.


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'''''Those deposits are overwhelmingly US dollars, which Argentines view as a safe haven amid times of economic uncertainty.''''''

they're crazy. the only safe haven is gold and silver.....

where's Strongford?

But did they actually withdraw USD FRNs?

Bump for the strongman

this

Strongarm

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True that.

If they're putting their faith in the US dollar, they are fucked.


Isn't that what led in part to the crash in Sept 2008?

Foreign governments in Europe put their faith in US Govt
mortgage-backed securities, based upon the accepted concept
that because they were "backed" by the US economy they COULD
NOT possibly fail.

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Deja vu all over again. They went through this after the Falklands war. They recovered after renouncing their foreign debt.

Took advantage of that oil dip, eh?

True, the here LOVE the dollar, they're in for a rude awakening

The Global Economy be collapsing and it ain't the fault of the Black man

You be a stupid shit. The value of a currency be vested in the productivity of the country of that currency. The United States is the most productive country in the world with Agricultural, Natural Resources and Manufacturing surpassing the next ten countries in the world.

That is fuggin right TEN! Ten countries all added together can not equal the US.

Coinsequently, the Dollar keeps on going up against the other currencies in the world. The Dollar Be King.

Argentina does that ever 50 years or so.

Hell, Mexico reduces the value of their currency to One Thousandth of a Percent every fifty years.

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And in bordering Paraguay, the president was just ousted in a
coup d'état after being relatively stable since the military
overthrow in 1989.

It's like a big fucking chess game ...

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paraphrase. Argentina decided to take – through a forced purchase – a controlling interest in ...... the national oil company.


They spent their money on nationalization of oil company.

really? and then why is it that you keep throwing money at europ? the dollar only works as long as you are able to boss countries around, it worked with sadam and qadafy, it doesn't seem to be working with assad

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The US Treasury owes $16 Trillion in Debt to other countries.
The US National Debt will be nearly $30 Trillion in just eight years.

The US taxpayer is in Debt $120 Trillion in unfunded liabilities TODAY.
The GDP of the entire fucking world is only $63.12 Trillion.

You are a moran of monumental proportions if you think that is remotely sustainable
and makes the US Dollar a safe-haven for ANYTHING.



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From David Wilkerson's 1973 Economic Vision:

It's about to happen---very soon, one nation, and I'm speaking prophetically--if I've ever heard anything from God in my life, I heard it ... Very soon a European or North African or Eastern nation is going to default on its international loan and when that happens, within two weeks, Mexico is going to default. Mexico owes $100 billion ---80% of it to American banks---and here's what is going to happen: about two weeks after the first country goes bankrupt, (we're going to survive that, because most of that (money of the first country) is owed to European banks---German, Swiss and French banks) but a second country is going to go down, probably Argentina or Brazil, and we'll kind of live that down and say: "Well, maybe it's not going to hurt," but two weeks after the first country goes down, Mexico's going to default on $100 billion.

And when the banks open the next day at 9 in the morning, $15 billion an hour is going to be withdrawn from our American banks -they're going to be running our banks---the Arabs---all the Latin American countries, they're going to be running our banks--and before the day is over, the U.S.A is going to have to declare a "bank holiday."

...

Isn't that the plan ?
Crash everyone elses economies around the world forcing everyone into FRN/Reserve Currency dollars and then devalue (print) the shit out of them ?
Afterall how can America have the strongest currency in the world and continue exporting to the rest of the world ?

It can't !

Argentina is stable.

And what is even more absurd is that if you wrote down in list form the countries the US is indebted too, by far the number one country on that list is ... the United States of America.

In the current debt-based / debt-required system of economic shenanigans, we somehow owe ourselves more than we can realistically pay back ... paying it back would be our undoing while canceling that debt would cause the unraveling of the system in its current form due to the shared debt-centered lunacy and mutual exposure based on the use of the dollar as the world reserve.

.... or so I have been told ...

Im from Buenos Aires.
I own a company and everything is OK here...
OP dont belive everything you read...
Argentina economy will growth again this year like the last ten years. It's impossible to compare 2001 and now.
In 2001 we had 10 years of deflation and ressession.
Now the gov don't have debts with the IMF and its going to pay the others international bills. That's why the gov its controlling the dollar. To get 8 billons to pay to the paris club and other international banks.
That's why the media want to rise fear. They want more debt not dollars...
Same movie in all south america...
Yesterday paraguay...
Tomorrow who knows...
The banksters are everywhere

Boy are you a fuggin lunatic. There is no real debt for the US. Remember that any interest payment sent to the Fed is immediately deposited in the US Treasury.

In other words any bonds and notes that the Fed holds are interest free.



The Fed is the greatest thing that the world has seen, but the rest of the world does not know how to create a FED. The US did it in 1913, and the world has stood in AWE ever since then.


The reality is the the US can borrow from the FED interest free. No other country can do that.

I agree, you cannot take the backing of the worlds reserve currency away (1971) and print it like embossed toilet paper.

Fucking Idiot! We do not have to pay the money back. All we have to do is ask the FED to dismiss the debt if we want them to do it.

You fuggin low IQ shithead! The US is not printing money. Mexico is and Argentina is, but the US is not. All of our debt can be easily dismissed by the non profit FED.

I think you better go and pull your money out of the bank Monday morning before it is too late Mr. Businessman.