Article

2005-05-14 Caribbean-Latin America

Latin Governments Try to Unseat the Dollar

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Posted by too true 2005-05-14 7:44:50 AM|| || Front Page|| [3 views since 2007-05-07] Top

#1 Regardless of the philosophical basis for de-dollarization campaigns (what a bastardization of a word that is!), anything the L.A. countries do to stabilize their own currencies benefits us all. To be pedantic (not you, Captain P.), measures taken to stabilize currencies also benefit economies; and more stable economies south of our border hopefully will mean fewer economic migrants (also known as illegal aliens) heading north in search of a way to feed their hungry children

Posted by trailing wife 2005-05-14 08:00|| 2005-05-14 08:00|| Front Page Top

#2 Lack of trust of the political system translates to a lack of trust in the local currency. Fix the former and you will fix the latter.

Posted by Sock Puppet 0â Doom 2005-05-14 08:15|| 2005-05-14 08:15|| Front Page Top

#3
trailing wife,

The equation: prosperity = reduced birth rates
seems to have a few exceptions.

Posted by gromgoru 2005-05-14 10:35|| 2005-05-14 10:35|| Front Page Top

#4 Apparently, they've never heard of the "Iron Rule of Currency", that "Bad Money Pushes Out Good". In this case, their worthless currencies will become what everybody wants to spend, while dollars remain what everybody wants to *save*. This means their currency will inflate and inflate, compared to the dollar, and the only way to buy anything of great value will be with dollars.

Posted by Anonymoose 2005-05-14 11:24|| 2005-05-14 11:24|| Front Page Top

#5 It also goes the other way. IIRC Ecuador switched to using the US Dollar as its currency to end the cycle of government inflation and devalutation that undermined their economy.

Posted by Elmilet Thavirong9735 2005-05-14 12:59|| 2005-05-14 12:59|| Front Page Top

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