Yes it means silver.
Today there was some positive news. Lavagna, the previous Economy Minister might run for President.
Argentina has just been lucky - the soybean crops have been outstanding and with 21% export tax - yes you read that correctly - producers pay for the luxury of being allowed to export. If a couple of bad crops are recorded the economy will be turned on its head.
Recently the government decided to ban the export of beef - certain cuts - in order to maintain low prices for the masses. Consequently packing houses are closing down, loss of jobs. Government is stepping in to pay the unemployed packing house workers. The system leaves much to be desired!
As Hoodsie stated - great place to spend time but not a good place to invest.
Boulderman: I posted twice yesterday about my views on Argentina but neither post showed on my laptop.....I doubt Argentina would nationalize....they seek outside investment.The last president,Menem,made some shady privatization deals and the present
administration took back the water and the trains but pretty much by agreement.Apache has become active in Patagonia and I know that crowd(Plank)are smart people.The government formed an energy shell to do joint deals(ala Chavez)with oil co's..eg. PBR....my
posts that aren't showing were to say I'm not a fan of investing in Arg....BRZ is better bet...I give Argentina 2 years more before they hit a wall.....never had a bad meal here;beef is spectacular although not my thing.Puerto Madero along the river has miles of converted warehouses housing restaurants of every venue......by the way have any of the board followed PDS since it converted to a trust?
Thanks hoodsise, for the views. I guess what I and perhaps others hear are thinking is how might Argentina tumble down the nationalist trail with natural resoureces?
When I dove into metals last fall the last thing on my mind was country risk.......I thought Chavez and the Venezuelan oil thing was a rare case. Now we see this stuff popping up in several S. American countries, seemingly in association with NEW presidential electees (Morales, now on to Humalla/Garcia).
So, the view of Argentina from anybody down there is of interest to me. NTO has most of its "hopes" tied to the Agua Rica thing.
Thanks for the colorful descriptions of life there. What are the most "Argentine" of cuisine dishes that you indulge?
I replied but the message never stuck....So. America has a problem with Chavez & Morales who control the bulk of the energy.Argentina is a boom/bust economy historically;nothing different this time around....lacking more so than in the past in outside investment.The
government controls prices through heavy-handed actions and threats...real estate is booming but the cost/rent ratio is crazy.The rents to foreigners are unsustainable longterm.Good place to live but better places to invest.The rich here enjoy the good life and keep their money in Europe!!!
Argentina has recovered extremely fast from the economic crisis five years ago.Real estate is going through the roof with new condos selling at $200.+ sq. ft....many foreigners(few No. Americans)buying as well as
wealthy Argentines buying studio apts. for rental and safety...very controlled economy!!!
I'm uncomfortable with the staying power of the recovery as outside investment is lagging.
Sur America is in transition that could turn to turmoil in a couple of years.Chile is the only stable economy and government in my opinion....but it's a great place to live!!!!!