Democracy is an illusion! It’s become a political system fostered by the élite, for the élite, in order to fool the people that they have a stake in the system. In actual fact, they have virtually none. The whole political system in the modern era, despite having noble beginnings, is now used to benefit the few at the expense of the many. – Mark Alexander, June 29, 2018
Sunday, 10 June 2012
Argentina Buys Up US Dollars
Argentina's government has placed a virtual ban on purchases of foreign currency and is trying to buy every US dollar available as it bids to increase central bank reserves and repay government debt. President Christina Kirchner wants Argentinians to start saving in the country's peso currency. Those measures have forced thousands to the streets to protest against what they call the government's authoritarian ways. The country has one of the highest inflation rates in the world and many Argentinians would gladly trade their pesos for the more stable US dollar. This has led to the creation of a black market where it is possible for thousands to buy and sell dollars, escaping the government's control. Al Jazeera's Teresa Bo reports from Buenos Aires.
