My bet is that this will be the first of many stories that will materalize over the next few months / years about the rest of the world resisting trade in US funds. These are the cracks in the pavement that give way to Honda-sized potholes in the economic roads we’ve paved.
To be honest, I would have thought that they’d trade in a local currency anwyays, but then, there isn’t one in Latin America. Maybe this is the first step in many towards a common currency in South America? What would Mexico do? As a Latin country that is rich with resources, would they get pulled in that direction, potentially even bowing out of the NAFTA?
Anything’s possible, right?
Category: Latin America, US economy