Argentina's New Plan

Folks,

Here's news out of Argentina... what do you think the impact will be?

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Argentina has been in a terrible three-year recession. A few months ago,
famed economist Domingo Cavallo was brought in and given "superpowers" to do
what was necessary to bring the economy out of recession.

The new plan says the peso will remain at 1-to-1 (to the US Dollar) for
the man on the street. But exporters can sell at a "new" exchange rate (the
average of the dollar and the euro), which, at current rates, gives them
about a 7% advantage. And importers must use this "new" rate as well, giving
them a 7% disadvantage.

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John Spiers

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