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Aluminum bullion GONE!!!!
I'm telling you folks it's BAD out there. No aluminum buffaloes, aluminum eagles, aluminum pandas!
Hoo
World in brief: Inflation creates run on Argentine coins
Compiled from news dispatches
October 17, 2008
Argentines are scrambling to get their hands on pocket change as soaring inflation makes the copper and aluminum that coins are made of worth more than their face value. Many suspect profit-seeking hoarders are scooping them up to stow away. Argentine annual inflation officially hit 8.7 percent in September, but independent economists say the rate is closer to 25 percent. One peso, worth about US $0.31, now buys so little, it makes more sense to melt down its metal, an economist said. Some officials suggest the scarcity of coins has triggered a black market, with dealers collecting and illegally reselling them at a hefty markup. That only takes more coins out of circulation, and the government is struggling to keep up with demand. On the Buenos Aires subway system last weekend attendants ran out of change, forcing them to let passengers ride free for two days.
Hoo
World in brief: Inflation creates run on Argentine coins
Compiled from news dispatches
October 17, 2008
Argentines are scrambling to get their hands on pocket change as soaring inflation makes the copper and aluminum that coins are made of worth more than their face value. Many suspect profit-seeking hoarders are scooping them up to stow away. Argentine annual inflation officially hit 8.7 percent in September, but independent economists say the rate is closer to 25 percent. One peso, worth about US $0.31, now buys so little, it makes more sense to melt down its metal, an economist said. Some officials suggest the scarcity of coins has triggered a black market, with dealers collecting and illegally reselling them at a hefty markup. That only takes more coins out of circulation, and the government is struggling to keep up with demand. On the Buenos Aires subway system last weekend attendants ran out of change, forcing them to let passengers ride free for two days.
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