The Mudcat Café TM
Thread #43992   Message #664074
Posted By: Escamillo
07-Mar-02 - 04:56 AM
Thread Name: BS: Still alive in Argentina
Subject: RE: BS: Still alive in Argentina
This site offers an acceptably accurate information on the Robbery of the Century:

http://www.guardian.co.uk/argentina/story/0,11439,634402,00.html

Some details they don't mention in this article:

1) No one single bank, national nor foreign, has appealed to Justice to obtain authorization to give our dollars and pesos back. For example, the Bank of Boston appealed to the Supreme Court to be RELEASED from the obligation to give back 20,000 dollars to one of its clients who had obtained a first instance resolution from Justice, for a case of urgent medical care, as an exception.

2) They not only keep our funds frozen. Those who saved pesos are offered bonds for 2003. Those who saved DOLLARS will see 45% converted to pesos starting in 2005, or a bond in dollars for 2012.

3) By decree, all cash payments to any person or commercial firm is prohibited. ANY earnings you may have, for any reason, must go to the bank, which will NOT allow you to withdraw more than $ 150 per week. The rest can be used only through checks or debit cards, with extremely high costs, delays and stupid excuses. At least, this new money can be used, but the economy has been paralyzed.

4) Nobody knows why banks can't go to Chapter 11 as any commercial enterprise. Nobody knows where did our money disappear, although we all know that the deposits of Argentinian and foreign firms in Europe and US, equals the amount of the national debt added to the 60 billion withdrawn from the banks in 2001.

5) Dollars are on sale at exchange offices (where do they come from?). Banks are offering new loans (is that the money they refuse to give back to us?). Of course, nobody takes them. Besides, nobody plans to ever put a single cent in any bank, and thus the financial system is destroyed.

6) The International Monetary Fund (who is not the US government) approves these procedures against our Constitution and against any known rule of ethics.

I know that there are many tragedies in the world, much worse than this. But this one deserves to be widely known all over the world, for everybody who may be want to see the real face of the new, globalized capitalism, which allows me to communicate through this wonderful technology and at the same time steals the future of my children.

Un abrazo - Andrés (not viable, not sustainable !)