But what you may not have known is that Argentina was a very likely candidate to support such a thing. Because while to it's north one of it's neighbors has already confiscated the wealth Argentina has had a long and glorious history of socialism, at least in the form of taking people's money and not returning it. This has resulted in two loan defaults (that I can remember anyway) going back to the 1990's, and was the main reason I would never invest or live in Argentina (though the global lending community seemingly can't wait to lend to perennial deadbeats).
Anyway, to "fight COVID" Argentina has decided taking away people's wealth was the way to do it. Thankfully, it's not borrowing money from foreigners and then just...not paying it back. They're doing it to their own people. But it's still the silver lining to the cloud that Argentina is, has been, and always will be a nation of grifters.
Those dumbfucks allowed uncounted nazis into their country after ww2.
ReplyDeleteOne of which was called "The butcher of Lyons"
Couldn't happen to a nicer group.
As many of you know, this isn't the first time that Argentina has pulled a stunt like this.
ReplyDeletehttps://www.centerforsecuritypolicy.org/2008/12/22/argentinas-kirchner-seizes-private-pension-funds-2/
The US also came dangerously close to doing this as well, under the Clinton administration, so don't think that this couldn't happen here.
"Argentina is, has been, and always will be a nation of grifters."
ReplyDeleteAnd they think they are superior to everyone else, including you, and will constantly remind you of that should you ever visit their cesspool of a country.
In the past 21 years, Argentines have seen their incomes grow at a fifth of the pace of the rest of the world, according to opposition senator Martin Lousteau. “By the end of this year we will have the same income as in 1973.”
ReplyDeleteEnough said.
And this is why you invest in things that can't be stolen with a mouse click.
ReplyDelete