This would seem to be out of the proverbial Ripley’s Think It Or Not. But as mind-boggling as it may seem, phrase has it that in the not so far long term, Globe Paper Money could very most likely be replaced by digital-electronic currency.
A run on Argentine bank deposits transpired in 2001. The natives had been understandably restless with the ongoing failure of their government’s financial guidelines. Individuals needed to flee the Argentine peso for the refuge of the USD. As you might expect, the government froze financial institution accounts for up to a yr and limited consumer withdrawals. Recently we had something comparable occur in Cyprus when rumors began swirling about deposit confiscation in purchase to deal with the bad monetary condition of banking institutions in that country. In comparable fashion, the government of that country took actions to limit withdrawals and the rumors became reality. Depositors did shed money though the phrase utilized was the much more euphemistic “tax”.
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Recently, an post I study indicated the “street” trade rate in Argentina was seven:1 (seven pesos for each USD). I ought to visit once more soon with a big wad of USD!
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