Tag Archives: Latin America

Return of Cash Sparks Emerging-Market Rallies

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“Investors snapped up $1.8 billion worth of stock sold by Chinese banks in Hong Kong over the past two weeks, while India’s stock market has climbed to record highs. Brazil sold $3.25 billion of debt, its biggest dollar-denominated offering on record, and Pakistan said Monday it plans to sell debt overseas for the first time in six years. The rally as the year draws to a close gives investors who are judged on annual performance an opportunity to make up lost ground. Books close for 2013 in less than two months, and emerging markets proved disappointing for much of the year.  Argentina’s stock market is a standout, rallying 80% since July.”

http://online.wsj.com/news/articles/SB10001424052702303936904579180793930457788

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Beginning of the End for the Kirchner Era

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“Porsche importers have been forced to sell wine and folks at BMW have had to sell rice. Needless to say, in this kind of climate, the government takeover of YPF, an affiliate of Spanish energy giant Repsol, was inevitable. It was the consequence of the havoc brought on by price controls.  In sum, Argentina has squandered the trillion dollars brought in by the agricultural commodities bonanza since Ms. Kirchner’s late husband, Nestor, came to power in 2003. The end of the Kirchner era in 2015 will not come a moment too soon.  What is not yet clear is what will replace it.”

http://www.independent.org/newsroom/article.asp?id=4772

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Farmers help bitcoin grow organically in Argentina

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“Organic farmers in Argentina are finding bitcoin to be a compelling solution when selling their produce through a website called Tierra Buena. The website has been highlighted in a new short film by Jacob Hansen. The film tells the story of how Nubis Bruno (one of the people behind the exchange site, Conectabitcoin) helped local farmers by creating the website as a means to sell their produce online in exchange for bitcoin or litecoin (and Pesos). The existence of Tierra Buena doesn’t signal a pending economic revolution in Argentina, or anywhere else. However, it is a great anecdote of how digital currencies can be genuinely helpful.”

http://www.coindesk.com/farmers-help-bitcoin-grow-organically-argentina/

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Venezuela’s President Sets Up a “Ministry of Supreme Social Happiness”

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“How could I possibly top Bill Clinton’s call for a Ministry of Truth for the Internet?  ‘A new Vice Ministry of Supreme Social Happiness has been created by Nicolas Maduro, the Venezuelan president, in an attempt to coordinate all the ‘mission’ programmes created by Hugo Chavez to alleviate poverty.  Oil-rich Venezuela is chronically short of basic goods and medical supplies. Annual inflation is running officially at near 50 per cent.  Housewife Liliana Alfonzo, 31, said that instead of a Supreme Happiness agency she would prefer being able to get milk and toilet paper, which disappear off store shelves minutes after arriving at stores.'”

http://www.economicpolicyjournal.com/2013/10/venezuelas-president-sets-up-ministry.html

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Moneero Turns World’s 6.8 Billion Cell Phones into Mobile Cash Wallets

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“Earth’s 7.1 billion people have 6.8 billion active cell phones. Almost everyone in the world has SMS text-messaging technology, making mobile phones the most popular device ever in history.  South American startup Moneero plans to transform the SMS network into the first truly global payment system by using Bitcoin, a payment technology created in 2009 with virtually no transfer fees. Moneero’s inclusive ecosystem, available in the coming months, also works with the world’s 1.5 billion social media accounts and Moneero’s Bitcoin-specific ATMs.”

http://www.hispanicbusiness.com/2013/10/28/moneero_turns_the_world_s_6.htm

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Argentina’s Net Party Is Ready For The Revolution

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“When Santiago Siri founded his Net Party two years ago, he turned to fellow members of the small, tight tech scene in the Argentine capital and they all agreed to chip in.  But Argentina is a bureaucratic place, and accepting their contributions wasn’t easy. He had forms to fill out for the bank and tax authorities, and nearly two months had passed before he had a bank account. One donation, though, came in quickly enough to get the party started. Argentine tech giant Wences Casares replied instantly to Siri’s email: ‘Absolutely — do you accept Bitcoin?’ An hour later, the Net Party had the equivalent of 25,000 pesos ($4,265) in its account.”

http://www.buzzfeed.com/bensmith/argentinas-net-party-is-ready-for-the-revolution

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Uruguay to sell legal marijuana for $1 a gram

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“Uruguay‘s drug tsar says the country plans to sell legal marijuana for $1 a gram to combat drug-trafficking, according to a local newspaper. The plan to create a government-run legal marijuana industry has passed the lower house of Congress, and Uruguay’s president, José Mujica, expects to push it through the Senate soon as part of his effort to explore alternatives in the war on drugs. The measure would make Uruguay the first country in the world to license and enforce rules for the production, distribution and sale of marijuana for adult consumers.  He said the idea was not to make money but to fight petty crime and wrench the market away from illegal dealers.”

http://www.theguardian.com/world/2013/oct/22/uruguay-legal-marijuana-drug-traffickers

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Bitcoins: Liberating Organic Farmers

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“This short documentary is about how small organic farmers are using bitcoins to reach their customers directly – with no fees and middlemen.”

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9 Reasons Why Brazil Is The New America

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“As one of the so-called BRIC countries — a term that has become less vogue as investors take a wider look at emerging market countries — Brazil is uniquely positioned to keep growing.  In his book — ‘Brazil Is The New America’ — investment writer James Dale Davidson argues that Brazil is indeed the new America.  That is, Brazil will flourish and the U.S. will collapse. And it’ll happen this century.  Now, it’s important to note that many of his views would be considered extreme.  And for what it’s worth, Donald Trump was quoted saying, ‘This is a book about your future.'”

http://www.businessinsider.com/brazil-is-the-new-america-2013-7

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Bill Bonner: My Very Own Argentine Welfare Program

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Bill-Bonner2

“Where does real wealth come from?  We will answer the question ourselves: Not from the Fed. Not from the government. Not from stimulus programs. Not from the Democrats. Or the Republicans. Or the Tea Party. Not from Obama. Not from a bipartisan agreement to extend spending and pretend that the feds can pay their bills. Nope. No gimmicks. No magic. No claptrap formulas. Wealth comes from work, savings and innovation. Typically, somebody works long hours, saves money and starts a business that produces something people want.  But now, in the mountains of Argentina… as on the fruited plains of the United States of America… the wealth machine has begun to sputter and choke.”

http://www.bonnerandpartners.com/my-very-own-argentine-welfare-program/

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