VIVA Agentina LIBRE!

[jamesd at echeque.com]

    --
On 13 Jan 2002, at 8:44, mattd wrote:

> BUENOS AIRES, Argentina 


>  Rioters ransacked banks,
> destroyed ATM machines and set fires across downtown Buenos
> Aires early Friday after a night of street protests against
> a government freeze on bank deposits turned violent. MORE
> http://www.infoshop.org/inews/stories.php?story=02/01/11/11
> 07123

mattd and all the other pinkos and commies think this is the
second coming of the communist revolution.

In actual fact what happened is the umpteenth Argentinian
president in the last couple of weeks issued a ringing
denunciation of capitalism, and then told the Argentinians
that in order to save them from capitalism, he was going to
confiscate their dollars and replace them with nonconvertible
pesos. When the Argentinians understood just how they were
going to be protected from the evils of capitalism, their
enthusiasm for these measures diminished considerably.

As we speak, while the Argentinian government is implementing
all sorts of half assed socialist measures, the Argentinian
public, whatever their views on politics in theory, are as
individuals implementing the most radical free market cure
for their problems:  Dollarization.  The situation in
Argentina is akin to the situation in the Soviet Union
shortly before the fall, in that socialism is being
dismantled in practice without regard to government policy.

If, as seems likely, the Argentinian economy makes an
unplanned and prohibited coversion from pesos to dollars, in
defiance of government policy, the likely result is that the
value of the peso will drop to zero.

    --digsig
         James A. Donald
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