Article

2012-06-02 Caribbean-Latin America

Argentine official denies devaluation planned

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Posted by Frank G 2012-06-02 00:00|| || Front Page|| [5 views ] Top

#1 The president decreed in October that anyone buying foreign currency must first get authorization from Argentina's tax agency. The agency examines what the buyer has paid in wealth and income taxes, then subtracts documented living expenses from declared wealth to determine how many legally obtained pesos an individual might have available to sell.

The controls now have their first legal challenge, filed by Julio Cesar Duran, a retiree in the provincial capital of La Plata whose request to sell $10 worth of pesos for dollars to give to his grandchildren was denied. The online authorization system declared his purchase "inconsistent," without further explanation.

Theoretically, anyone who has paid his taxes and properly declared his income and wealth should be able to freely trade pesos for dollars at the official rate. But Duran is among a growing number of Argentines complaining that they've been cut off even though their taxes are up to date.

Fernandez has sought to vilify those trying to profit from the peso's unofficial decline against the dollar. She said Thursday that agricultural companies holding back grain sales to make bigger profits in the future are committing "a capital sin," and recommended that wealthy Argentines "forget for a moment the speculation and think about the country."

Posted by Frank G 2012-06-02 11:45|| 2012-06-02 11:45|| Front Page Top

#2 ION DEFENCE.PK/FORUMS > MEET THE NEW FACE OF THE WEST: GUTS [Germany, US, Turkey, + South Korea] |
MEET THE THE GUTS: THE RISE OF GERMANY, THE UNITED STATES, TURKEY + SOUTH KOREA: BROOKINGS INSTITUTE.

ARTIC = the on-going Financial Crisis has resulted in a variable TWO-SPEED WEST, WHERE FOUR COUNTRIES ARE ACTUALLY INCREASING IN GLOBAL INFLUENCE WHILE THE REST ARE MAINLY STALLED = STUCK IN A RUT.

POSTERS = BRIC-VS-GUTS = Global Power-Sharing, or Global Domination???

Posted by JosephMendiola 2012-06-02 23:18|| 2012-06-02 23:18|| Front Page Top

23:39 JosephMendiola
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