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In Argentina, mass protests demand higher wages, lower inflation

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By Maria Belen Liotti

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The leaders have been the cause over the last 40 yrs of the hyper-inflation because they won't stop meddling. No more fiscal tricks attempting to fool creditors. No more printing money that does anything except replace current money. Printing money without any backing, is part of what the govt has been doing causing the problem. And not paying back loans.

At this point, Argentina should dump their Peso, ARS, and do what Zimbabwe did - peg the local currency to the USD for 10 yrs, at least. Get a handle on inflation, keep the govt from meddling, and after a long enough period of stability, only then start re-introducing the ARS. Costa Rica used to peg their Colon, CRC, to the USD and slightly adjusted it from year to year, based on conditions. About the last 10 yrs, it has floated on the international markets, but that has seen a 30% drop in the CRC value over that period, which makes it better for Americans visiting, but harder for Ticos to buy foreign goods.

During periods of hyper-inflation, average Argentinians know to have less than 1 week of Pesos and to keep all the other money in USD or tangible goods that keep up with inflation. 2000x inflation per month isn't good for anyone.

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