Hello elmat, I am going to fade out for a while longer due to business and busy-ness, but before I do, a cheerful note, optimistic foreshadowing of events to come, perhaps, showing how one nation can recover by returning to sound and dependable money, and not go the way of Japan ...
However, keep it a secret from Maurice for a while, so as to not cause panic ;0)
quote.bloomberg.com
03/13 05:48
Argentine President Candidate Urges Peso-Gold Link, Herald Says
By Claire Shoesmith
Buenos Aires, March 13 (Bloomberg) -- Nestor Kirchner, seeking to become president of Argentina, will try to return the country to a monetary system where the peso is backed by gold reserves, the Buenos Aires Herald said, citing Kirchner's economics adviser.
The return to a gold standard would be part of a policy involving ``neither dollarization nor multiple currencies,'' the paper cited Kirchner's adviser, Jose Maria Las Heras, as saying.
The policy would aim for the peso's value to eventually converge with a single Mercosur currency, Heras was cited as saying. The Mercosur region includes Argentina, Uruguay and Paraguay.
Gold prices fell for a third day in London as the dollar strengthened against the euro and equities rose, making the dollar- denominated metal less attractive to European investors.
Kirchner, governor of the Santa Cruz province in Argentina's south, is seeking to defeat rivals including former President Carlos Menem in April 27 presidential elections.
(Buenos Aires Herald Online 3-13) |
