Global Capital, Empire and Argentina

Michael Pollak mpollak at panix.com
Sat Dec 22 22:10:34 PST 2001


On Sat, 22 Dec 2001, Juan Jose Barrios wrote:


> What is likely is "pesification" and then devaluation which would
> hurts small savers who have their savings in dollars

Is that true? I thought "pesification" (or "indexed pesification") would consist of changing all *contract* terms from dollar terms to peso terms -- not changing dollars on account to pesos. Aren't dollar accounts overseas, and thus beyond the power of the government to change?

Michael __________________________________________________________________________ Michael Pollak................New York City..............mpollak at panix.com



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