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In July of 2001, Standard and Poor's (S&P) cut the credit rating of Argentina. S&P did the same thing to the U.S. rating 10 years later (2011). There was uproar their halls of Congress with this even though arguably, reduced credit rating could have come much sooner. To make matters worse, U.S. credit agencies granted pristine ratings to mortgage-backed securities inside their heyday. Fitch, another credit agency, is warning of further action against the U.S. 12 months.

During the late 70s and early 80s the country went into debt for state funded projects, a war with the U.K. for the Falklands islands, and state takeover of non-public debts. Compare that for the U.S. Bitcoin Mining past experiences.

Recently, an article I read indicated the "street" exchange rate in Argentina was 7:1 (seven pesos per USD). I should visit again soon using a big wad of Usd!

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