This is Argentine central bank governor Mercedes Marcó del Pont in an interview on March 26 2012:
“We’re recovering the sovereign capacity to formulate and implement economic policy”, said Marcó del Pont who anticipated some pictures will be coming down from the bank’s hall of fame “beginning with Milton Friedman.”
Now take a look at what have happened to the Argentine peso since these “brilliant” comments.
I leave it to my readers to figure out whether del Pont made a massive policy mistake when she ordered Uncle Milty’s picture removed….
PS take a look at this very interesting interview with the Argentine Minister of Economy Hernán Lorenzino about Argentine inflation. Lets just say Mr. Lorenzino seems a bit unsecure about how to present the “facts”