An Argentine opinion on the Global Financial Crisis, describing the whole Global Financial System as one vast Ponzi Scheme. Like a pyramid, it has four sides and is a predictable model. The four sides are: (1) Artificially control the supply of public State-issued Currency, (2) Artificially impose Banking Money as the primary source of funding in the economy, (3) Promote doing everything by Debt and (4) Erect complex channels that allow privatizing profits when the Model is in expansion mode …
03 January 2010, 10:10 pm
I see why we are under attack. Good Against Evil. Good and bad. This country grew up on credit. Nothing can get done without it. Telling people to take there money out and spend it is a sure fire way to cause a crisis. People need to continue to invest in America. These alarmist are the ones who want your dollars and are investing in America and are making money off of you. Have faith in GOD and America. The evil will be rooted out from our mist. Be true to yourself and SEE! Truth In light!
04 January 2010, 7:34 am
It’s almost time for los Nadies to start banging on pots and pans, marching down Pennsylvania Ave. El pueblo no se va!
05 January 2010, 12:07 am
Thanks for the advise Mr. Salbuchi, vamos con todo Boca!!
06 January 2010, 12:15 pm
No!!! When the railroads were nationalized the total mileage was vastly increased, peaking at over 40.000 kilometers in the 50’s and 60’s. When the international bankers-baked civilian-military regime usurped power in 1976, they systematically began to destroy the railway system for no good reason. Then, from 1989 to 1999, Carlos Menem (”democratically” elected) finished the job by destroying just about everything else in our economy except for markets for transnational corporations.
06 January 2010, 12:40 pm
Is it true that when the Argentenian gov. nationalized your railroads, that you had at first a total of 36,000 km of track, and after the nationalization ocurred, only 8,000 km are left?
09 January 2010, 3:32 am
Well, its like I say, capitalism can only work when it is disciplined by democracy, where the rights of the individual–including the right for one to make a profit as a motive for a business venture, while keeping in regard the individual rights of their employees (since a healthy and happy employee is a productive employee). Individualism+Capitalism+Democray=Prosperity and improved life conditions.
12 January 2010, 8:37 am
Hi “Lordof theKaty” – I totally agree with you. What we are living today is EXTREME CAPITALISM which is destructive, parasitical and immoral, which very different from Constructive Capitalism where Finance is SUBORDINATED to Economic Reality. Extreme capitalism is the opposite: it suffocates the Real Economy. Not surprisingly Extreme Capitalism and Soviet State Capitalism look so much alike when you let them on the loose… Kind regards – Adrian Salbuchi
13 January 2010, 7:00 am
Hi, “Southerntails”. That’s the Million Dollar Question; My answer is always to say “flight to safety” , which means reinvest in something that has intrinsic value, i.e., gold, a condo, a house, jewelry, precious stones and metals, etc etc. Always keep in mind: paper money and paper stocks and paper financial instruments, in times of crisis are just that: PAPER. Always thinks of something thaty has intrinsic value… Stay Alert, Regards . Adrian
15 January 2010, 6:13 pm
“privatizing profit and socializing debt” – Concise and accurate. Thank you, sir.
17 January 2010, 9:15 pm
Mr Salbuchi
I value your opinion and advice.How do we insulate ourselves from the coming devaluation of the dollar?.How do I preserve wealth?.Should I buy metals?,commodities?,foreign currency?…
How do we prepare with the precious little time we have left?
19 January 2010, 1:55 am
I believe that you are dead right about the whole global financial crisis. However, I would like to get a point across. People are blaming all of this on capitalism. This is not a product of capitalism. In capitalism, an individual is given the oppurtunity to prosper in honest and reasonable terms, with the employees protected by their individual rights. What has truly failed our nation is a fascist corporatism. Corporatism is the true serpent which has intoxicated our system.
22 January 2010, 12:08 pm
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24 January 2010, 4:23 pm
4) I am thus afraid that Argentina has no other choice of a way out, but to suffer a kind of French Revolution – a horrible thing to happen, from any point of view – which would behead all politicians still alive, and their families, and would take back all their assets where they belong: the State from which it was robbed. Just as yours, my opinion was nor always well considered in our country. Cheers!
26 January 2010, 10:09 pm
3) Our governments delight themselves in telling the masses that inflation comes from the greed of sellers who want more and more money for their products/services. Then, our under-illustrated folks buy it… and vote for the same scoundrels over and over again. Government promises more funds for education, but give none. Why not? Educated people is the worst enemy our corrupt governments can have. (continued)
27 January 2010, 8:31 am
2) On the other hand, I believe that inflation IS a byproduct of the excessive issue of means of payment without a proper backing of bullion and/or liquid assets, whatever the name it gets,and it is thus deliberatey PROVOKED BY THE GOVERNMENTS, and no one else but the governments when it fails to back properly the money on the street, national bonds and so forth. (continued)
29 January 2010, 8:45 am
1) Dear Adrian, I know you from the time you were at INdeR. You were good then and you are better now. I’ve downloaded your videos to pendrive, in order to show them in my circle. The Argentine problem is nothing that liberal or even conservative minds could solve because of the simple fact that majorities here, quite uneducated to say the least, will always vote for the best words in the election campaigns, irrespective of the past of those that pronounce them. (continued)
30 January 2010, 5:21 pm
Hi, Silver Rose09. No. Not quite. The problem swas that for a decade the peso and dollar were artificially linked 1 to 1. When the peso crashed, it jumped to 4 to 1 where it more or less is today. However all major debts – houses and cars, for example were all in US Dollars. So your income in U$S equivalent went down by 4 (because salaries almost all in local pesos) but your debts stayed in Dollars. On top of that the banks wouln’t give you your money back…. Cute!
30 January 2010, 8:47 pm
Ja, ja. Bueno tu sentido del humor…
02 February 2010, 10:26 pm
Yrs it could. Know 13 zeros off a currency over 39 years means that one peso today was equal to 10.000.000.000.000 pesos of 1970. At that time and with prices back then, you could have bought the bulk of Argentina. I mean, i’m not saying this as a factual economically calculated bit of info, but rather to make a point!!
03 February 2010, 4:19 am
You are right, Alfredokiwi… We have been brainwashed into thinking that “economies must grow and grow and grow” because “Growth is good”. That is a lie. Ask any cancer patient whether tumour growth is “good”. The financial system is very much like a cancerous tumour which has grown to the point that it threatens to kill the economic and social body of the people…
05 February 2010, 8:21 am
All countries are endebted. Start with the US and UK… You might not be personally in debt, maybe you own a company and it too is not in debt, however because of the very fact that you live in the US, or Argentina, you live immersed in indirect debt. Argentina uses more than 1/3rd of tax revenues to pay interest on Foreign Debt… So, although I’m not personally endebted, my government skims me to pay for that pound of flesh. Ergo, I suffer the same consequences of endebtedness. Clear?
05 February 2010, 10:51 am
bullshit, theres heaps of countries corporations and people who are not in debt
u say the whole planet is in debt thats bullshit plenty of people are not in debt
07 February 2010, 10:16 am
I used the advice from the OTCSP newsletter and things have been going really well now, thanks for asking.. you should check it out too, its free anyway.. authoropen . com
08 February 2010, 4:12 am
There already is one. watch?v=rH6_i8zuffs In Spanish with subtitles
10 February 2010, 7:45 pm
Anyone who has looked at recent Argentine history, can see that many terrible things from thier past, are similar to our present, and possibly our future. I think this man knows what he is talking about.