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Thursday, October 30, 2008

Dollar Sale



Yesterday, while I was writing my post about the currency crisis, the government held a garage sale and they were selling dollars.

Argentina's peso closed steady Wednesday due to a massive central bank dollar sale, but bonds fell for an 11th consecutive session due to continued concerns over a government plan to take over private pensions.

Just thought the timing was kind of funny.

Basically, investors flocked to the dollar fearing that the Argentine´s nationalization of the nation´s private pension funds was a money grab to keep the country from defaulting on its debt.

Argentina just can´t get a break, sort of like McCain these days.

Meanwhile I am still waiting for the price of chocolate, butter, eggs, transportation, etc. to go down... any day now.
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