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Countries do need to be able to buy foreign products that they cannot acquire or produce domestically, and for that they need a form of currency or an international credit line that other nations will accept. But countries are increasingly breaking away from the oil- and weapons-backed US dollar as global reserve currency. To resolve the mutually-destructive currency wars will probably take a new Bretton Woods Accord.

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The vulture funds that secured a ruling in their favor are not original lenders to Argentina. They purchased bonds in default at obscenely low prices for the sole purposes of engaging in litigation against Argentina and making an enormous profit.

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Supreme Court refusal to hear appeal spells 'terrible news for all of the developing world'

Rightwing parties in Latin America give themselves populist names, keep the manifesto rhetoric modest and talk of appealing to the street. But they aren’t winning many votes. Meanwhile business is learning to work with governments of the left.

The presidents of the Latin American countries of Argentina, Brazil and Chile reflect the deep transformations in the political life of the continent since the days of military dictatorship.

The recently released memo notes that Hill told Derian about a meeting Kissinger held with Argentine Foreign Minister Cesar Augusto Guzzetti the previous June. Guzzetti, according to that document, told Kissinger, "our main problem in Argentina is terrorism." Kissinger replied, "If there are things that have to be done, you should do them quickly. But you must get back quickly to normal procedures." In other words, go ahead with your killing crusade against the leftists.

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