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Thursday, November 22, 2007

Three card monte

Frank Barbera points out that Argentina's economy put itself back on track by devaluing the currency. Now,

... the place is booming, crime is way down, and foreign capital has flooded in...

All you had to do was ensure that you weren't the mark in that game:

... someone who was able to place money in precious metals avoided the collapse of the local currency, would now have that previous purchasing power intact, and could have used it in the last few years to buy back many fold depreciated assets in Argentina.

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