An Argentine opinion on the Global Financial Crisis

[rhonda15]

An Argentine opinion on the Global Financial Crisis, describing the whole Global Financial System as one vast Ponzi Scheme. Like a pyramid, it has four sides and is a predictable model. The four sides are: (1) Artificially control the supply of public State-issued Currency, (2) Artificially impose Banking Money as the primary source of funding in the economy, (3) Promote doing everything by Debt and (4) Erect complex channels that allow privatizing profits when the Model is in expansion mode and socialize losses when the model goes into contraction mode.

[ame=http://www.youtube.com/watch?v=UlDNMB6wYmI&eurl=]YouTube - Salbuchi - Global Financial Collapse - Part 1[/ame]

[ame="http://www.youtube.com/watch?v=78ddURofMWs&feature=related"]YouTube - Salbuchi - Global Financial Collapse - Part 2[/ame]

The Argentinians have been there - done that - and are worth listening to.

[feargach]

The main Argentine export is the soybean. Perhaps they could back their currency with that. 1 peso = 100kg of soybeans.

Tofu for everyone!

(I'm only slightly kidding: the Chinese are buying vast quantities of the stuff from Argentina, and in fact propping that nation economically. Weird world)

[mmrebel]

We were all living a big fat lie , should have put my money into Amway or something equally pointless.

[mmrebel]

[QUOTE=feargach;1607423]The main Argentine export is the soybean. Perhaps they could back their currency with that. 1 peso = 100kg of soybeans.
QUOTE]

Only a matter of time before were using magic beans in Ireland.

[jpc]

[quote=mmrebel;1607432]

The main Argentine export is the soybean. Perhaps they could back their currency with that. 1 peso = 100kg of soybeans.
QUOTE]

Only a matter of time before were using magic beans in Ireland.

The Argentinians pegged their currency to the dollar.
We adopted the Euro
They borrowed big
Ditto ourselves.
A global currency was their undoing.
Global economic crisis is ours.
Sleazy goverments.
Hmmmmmm.