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Fire Destroys Argentine Banking System Archives, Killing 9


Another Iron Mountain Incident


February 6, 2014

While we are sure it is a very sad coincidence, on the day when Argentina decrees limits on the FX positions banks can hold and the Argentine Central Bank’s reserves accounting is questioned publically, a massive fire – killing 9 people – has destroyed a warehouse archiving banking system documents. As The Washington Post reports, the fire at the Iron Mountain warehouse (which purportedly had multiple protections against fire, including advanced systems that can detect and quench flames without damaging important documents) took hours to control and the sprawling building appeared to be ruined.

The cause of the fire wasn’t immediately clear – though we suggest smelling [Christine] Fernandez’ hands…

We noted yesterday that there are major questions over Argentina’s reserve honesty

While first print is preliminary and subject to revision, the size of recent discrepancies have no precedent. This suggests that the government may…

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