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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: IngotWeTrust who wrote (3105)	1/18/1999 9:49:00 PM
From: ForYourEyesOnly	Respond to of 81904

Thanks 49er...... The monetary system does seem to have some "structural" problems....I'm just starting to learn, but I now have a better appreciation for your understanding of money..... Good luck with everything, THC

To: IngotWeTrust who wrote (3105)	1/19/1999 8:59:00 AM
From: ForYourEyesOnly	Read Replies (1) \| Respond to of 81904

Argentina considers using dollar as its currency (Read this & shudder! THC) 3.13 p.m. ET (2013 GMT) January 18, 1999 BUENOS AIRES, Argentina — Brazil's struggle to steady its shaky currency has prompted one Latin American neighbor to consider abandoning its own money and adopting a dollar-based economy. Argentine President Carlos Menem has called on his economic team to study ways to replace the peso with the dollar in an attempt to protect the economy from future financial turmoil. Menem also suggested the entire region consider doing the same. Pablo Guidotti, a senior economic official, told a local newspaper on Monday that there's no deadline for completing work on the study. Any plan to switch over to dollars would likely require several years of examination followed by approval from Argentina's congress and the U.S. Federal Reserve. "It's not a proposal that will be decided in the months to come,'' Roque Fernandez, Argentina's economic minister, said on Friday. This is not the first time Argentina has considered making such a switch. The government's talk of dollarizing helped stave off more severe effects of the Mexican peso devaluation in 1995. Some economists said Argentina's renewed interest in changing currencies was intended to distinguish itself from the region's more troubled economies. Menem said last week, amid Brazil's economic problems, that Argentina would not consider devaluing the peso no matter how severe conditions turned. The currency has stood strong in the face of the recent economic turmoil, bolstered by a plan that pegs the peso to the dollar at a rate of one-to-one. But Brazil's struggles have kept Argentina on edge because of its deep trade ties to Latin America's largest economy. The two countries' economies are inextricably linked through the Mercosur trading bloc, which also includes Paraguay and Uruguay. Nearly 30 percent of Argentine exports go to its giant northern neighbor.