Enforcing the will of the people

Louis Proyect lnp3 at panix.com
Fri Dec 28 07:03:05 MST 2001


NY Times, December 28, 2001
 
Fiscal Shift by Government Adds to Doubts of Argentines

By LARRY ROHTER

BUENOS AIRES, Dec. 27 — A plan by the new Peronist government here to 
create an emergency currency is running into opposition, as details 
emerge and owners of businesses or anyone with a bank account comes 
to realize that the proposal is backed only by promises and not by 
hard cash.

Growing doubts about the government's intentions led to long lines 
outside banks today, as middle-class Argentines tried to get their 
hands on dollars or pesos before the new system, announced on Sunday 
but largely ignored during the Christmas break, goes into effect. 
Depositors unable to withdraw money from their accounts demonstrated 
outside a downtown bank today, blocking one of the capital's main 
shopping streets for several hours.

"I can't run the risk of losing everything if they should suddenly 
decide to change all the rules on us," said Marta Menéndez Cipriani, 
a 33-year-old secretary, as she stood in line at an automated teller 
machine this afternoon. "I deposited dollars, and I want dollars 
back."

full: 
http://www.nytimes.com/2001/12/28/business/worldbusiness/28ARGE.html

(Perhaps Argentina might emulate Pancho Villa's tactics for enforcing 
the will of the people.)

John Reed, "Insurgent Mexico":

The rich Mexicans who had oppressed the people and opposed the 
Revolution, he expelled promptly from the State and confiscated their 
vast holdings. By a simple stroke of the pen the 17,000,000 acres and 
innumerable business enterprises of the Terrazzas family became the 
property of the Constitutionalist government, as well as the great 
lands of the Creel family and the magnificent palaces which were 
their town houses. Remembering, however, how the Terrazzas exiles had 
once financed the Orozco Revolution, he imprisoned Don Luis 
Terrazzas, Jr., as a hostage in his own house in Chihuahua. Some 
particularly obnoxious political enemies were promptly executed in 
the penitentiary. The Revolution possesses a black book in which are 
set down the names, offenses, and property of those who have 
oppressed and robbed the people. The Germans, who had been 
particularly active politically, the Englishmen and Americans, he 
does not yet dare to molest. Their pages in the black book will be 
opened when the Constitutionalist government is established in Mexico 
City; and there, too, he will settle the account of the Mexican 
people with the Catholic Church.

Villa knew that the reserve of the Banco Minero, amounting to about 
$500,000 gold, was hidden somewhere in Chihuahua. Don Luis Terrazzas, 
Jr., was a director of that bank. When he refused to divulge the
hiding-place of the money, Villa and a squad of soldiers took him out 
of his house one night, rode him on a mule out into the desert, and 
strung him up to a tree by the neck. He was cut down just in time to 
save his life, and led Villa to an old forge in the Terrazzas iron 
works, under which was discovered the reserve of the Banco Minero. 
Terrazzas went back to prison badly shaken, and Villa sent word to 
his father in El Paso that he would release the son upon payment of 
$500,000 ransom.

-- 
Louis Proyect, lnp3 at panix.com on 12/28/2001

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