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In July of 2001, Standard and Poor's (S&P) cut the money rating of Argentina. S&P did the same thing to the U.S. rating 10 years later (2011). There was uproar in the halls of Congress within this even though arguably, minimized credit rating could attended much earlier. To make matters worse, Ough.S. credit agencies granted pristine ratings to mortgage-backed securities inside heyday. Fitch, another credit agency, is warning of further action against the U.S. this year.
During the Argentine economic crisis, alternate currencies evolved and some government employees were paid with IOUs. Recent events in the U.S. experienced states paying with IOUs, and in case there are Illinois, some bills simply remain delinquent. Alternate currencies have evolved. Bitcoin Trend App Reviews is among the most well-known, alternate digital currency that appeared out of frustration a problem current fiat money system of the fact that the USD may be the king.
A exercise on Argentine bank deposits happened in 2001. The natives were understandably restless with the continuing failure their own government's economic policies. People wanted to emerge from the Argentine peso for Bitcoin Trend App Login the refuge for the USD. While you might expect, the government froze accounts for substantially a year and limited customer withdrawals. Recently we had something similar occur in Cyprus when rumors began swirling about deposit confiscation in order to deal with the poor financial state of banks because they country. In similar fashion, the government of that country took measures to limit withdrawals and the rumors became fact. Depositors did lose cash though enhancing . used was the more euphemistic "tax".