Article Image
IPFS News Link • Economy - International

Argentina's Modest Proposal: Buy Bonds Or Go To Jail

• Zero Hedge
Argentina's president Kirchner, a keen observer of recent events in Cyprus, has figured out a way to kill two birds with one stone, namely attempt to put an end to tax evasion, and fund the capex of the recently nationalized state oil company YPF (now that its former owner, Spainish Repsol, is less than keen to keep investing in its former Argentine subsidiary). To do that she will present the local tax-evading population (pretty much anyone with any disposable income and savings) with a simple choice: buy a 4% bond to fund YPF "growth" or go to prison.

1 Comments in Response to

Comment by Ed Price
Entered on:

This should be a big boost for Bitcoin. There are enough Argentine folks who are investing in Uruguay right now that this push might cause them to leave Argentina. The poor who remain just might rebel at the new slave tactics that their government thinks up.