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Many of you are far more financially
literate than me and may be able to answer a question.

A well known definition is,

“insanity is repeating the same mistakes and expecting different results.”

The strange politics in Argentina has resulted in
nine defaults, three this century, the most recent being last week.

I understand why international agencies like the IMF might loan them money...
after all, bureaucrats always think they know everything and have to do something to keep their jobs...
But why do any private moneys get used to purchase Argentina bonds?

Do the big banks just do a great sales/con job on various private parties to get a big sales commission, or are we that
ignorant about the financial history of this country? (If I know it, how hard can it be to
discover?) Or is there something else that I'm totally missing? The best thing for investors would be to force Argentina to only sell bonds called Toxic Waste, yield x%,guaranteed to default before due date.

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