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Argentine banks have seen a third of their U.S. dollar deposits withdrawn since November as savers chase greenbacks in response to stiffening foreign exchange restrictions, local banking sources said on Friday.
Many are taking what dollars they can get their hands on and stashing them under the mattress or in safety deposit boxes, fearing moves by the government to forcibly "de-dollarize" the economy. Officials have strongly denied any such plan.
The president's battle to slow capital flight and fatten the central bank reserves needed to pay the public debt has prompted even tighter controls in recent weeks, making it almost impossible to buy dollars at the official rate. The effects have been felt throughout the South American country's economy.
Originally posted by THE_PROFESSIONAL
Its so crazy how these bastards do this type of scam of Usury and lending of money on interest:
Print up fake money on a piece of paper. Then simply by changing a number on the paper you assign that piece of paper different values, just dependent on what is printed on them.
Then using the whole economy based on fiat money, you place bets (derivatives), then you place bets on the bets (derivative of a derivative) and so on and so forth.
It is all false, a sham, and this is why the major religions of the world prohibited lending of money on interest because it leads to oppression and economic slavery, debt, depression etc..Why do you think the central banks hate true Islamic banks who charge Zero interest, because it prevents such practices
We are seeing it before our eyes
Originally posted by drphilxr
just read this via Drudge. Maybe this is overly simplistic, but
any run to US dollars seems to me to be a good thing for Americans in general
all things considered. Even though Bernanke was clearly "unclear" about
further QE printing, the US will have to have QE4 and the world may just
soak up these additional dollars to capitalize banks and economies.
So perhaps our weak dollar will stabilize further - but at what expense???
On the other hand, the huge amount of derivative debt out there ($270 trillion?) could
sink us all.
We are already sunk. Too much growth and no responsible government to curtail it. We spend and use too much. We never pay down the debt. We constantly start wars to make money for a few people.
This is the final death throw of a failing society.
edit on 6/8/2012 by drphilxr because: (no reason given)
Originally posted by Dasher
When has there not been a single monetary system besides the outward differences of name and material? Money is money is money. As the world realizes more and more what "value" is, the monetary system will continue to destabilize along with the Banker's Guard (government).