Word: dollarization
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...Aires than in any other city in the world.Argentina’s 2001 default on over $140 billion in international loans imploded the economy, precipitating a massive bank run and widespread civil unrest. When the dust settled, the Argentine peso was trading at roughly four to the American dollar, after a decade of parity. Europeans and North Americans began to trickle into Buenos Aires to take advantage of the exchange rate, and lately the media’s been abuzz about South America’s “best kept secret.” This publicity comes right...
Castro: We do not like it. It is not the ideal. It is a need for a specific stage in history. We don't like any foreign currency circulating, not just dollars. We introduced the dollar out of need...
TIME: Forty years ago, you were full of idealism. When you won, you eliminated the vices of the Batista regime, among them prostitution and crime. Today we see prostitutes back on the street with the dollar economy...
...other hand, if all a company is doing is essentially telling its customers to stop smoking and start eating more broccoli, it probably isn?t putting them in grave danger. "You may not be getting the full value out of every dollar you spend on your test," says Ray Rodriguez, director of the Center of Excellence in Nutritional Genomics at the University of California, Davis, "but it won't do you any harm - and you might actually start taking your nutrition more seriously." The only question is whether you really want to shell out $1,000, or even...
...most important, demand from investors has skyrocketed, especially from pension funds, which means you might be invested in a buyout fund and not even know it. The long-term outlooks and multibillion-dollar purses of institutional investors have always made them a match for buyout funds, which lock up money for five to 10 years, promising a high return in exchange. These days, there's even more interest because "alternative investments," which also include hedge funds, are all the rage. Pension funds that used to invest, say, 2% of assets in those vehicles now go up to 10%, and smaller...