shad@teldata.UUCP (04/03/84)
* Want to by a real stable currency? I would suggest that you do not buy Argentine pesos. Argentina is clearly in default in the amount of $9 billion. If the country does default on its loans it will be "take it in the shorts" time for about 11 major U.S. banks. Argentina is only the first country in South America that is on the edge of default and a debtor's cartel will probably soon be forming down south. Current debts are 250% of exports for these countries. How can they possibly repay? As part of a bail-out Secretary of the Treasury, Donald Regan, has now conceded to a currency swap of U.S. dollars for Argentine pesos. Sounds like a good deal to you? Maybe you would like to buy some for yourself. These soon to be worthless pesos are being bought with your tax dollars. We can bring to bear the whole power and soundness of our Treasury that is over a trillion in debt to help out these less debt encumbered countries. Ah! The wisdom of Washington. The whole scam smacks of just another way to funnel the dollars of the working U.S. citizen to the "hidden" bankers. Any comments? Warren Shadwick