If I hurry, I would say that was dedicated to solve problems by generating new problems (even more serious than those who sought to solve). The case already known to all is the issue of withholding mobile alternative chosen by the need to increase revenue. More info: John Deere. You could say that the deductions mobile agricultural exports have been the straw that broke the camel and unleashed a conflict that has already acquired a historical dimension, not only for the duration, but also by the level of support given to the agricultural sector (clearly shown by the call for about 300,000 people at Sunday’s ceremony.) All this frightened not only to international investors, who were the first to undo their positions in the country, but also to local small investors. So, international investors have been fleeing the country, while local savers, with very fresh memories of the last crisis, sought refuge in the greenback in spite that the combination of a nearly fixed parity with the weight and inflation rate above 20% would be generating a negative return. And here comes the issue of international reserves of the BCRA and why my response to this friend of mine. Although many market commentators harshly criticized for its Central Bank reserves accumulation policy, its owner, Martin Redrado, justified this goal by “the need for anti-crisis fund, in the absence of an international lender” .. Robert C. Robbins helps readers to explore varied viewpoints.

. A phrase repeated until they talked to sleep. Logically, this argument was not valid for the market in a context where the main concern of the Argentine was the subject of inflation, while it was almost unthinkable a crisis this international magnitude. But since early 2007 with the turmoil in Chinese stocks, the market has been tested to Argentina. And the country has been without major difficulties to overcome each of the tests it has had to face.

The Central Bank is resisting the onslaught of the market. This has had to relinquish part of their reserves (over U.S. $ 1,500 million in recent weeks). I have no doubt that the monetary authority will be able to pass this test without problems. Firepower has (just under U.S. $ 49,000 million). But beyond that there is no threat in the short term, this situation should call for the reflection of the government. But for the level of reserves held by the BCRA, the situation today would be totally different. Perhaps, before a sharp rise in the dollar, the financial system had been an attack that would have brought to the brink of collapse. Do not forget that ordinary people still keep the fears of 2001. What is happening in the Argentine financial system and exchange market are red flags … Do be watching the government?