ARGENTINA: Assistant Dictator

"I am the financial and economic dictator of Argentina," crowed Miguel Miranda to a friend last week. As Juan Perón's closest adviser and president of Argentina's newly nationalized Central Bank (TIME, April 8), the portly, fiftyish tin-can manufacturer was feeling his oats. A sweeping governmental decree had just handed him such economic power as few men had held outside Nazi Germany or Fascist Italy.

All bank deposits and practically all loans were placed under Central Bank control. Henceforth, Miranda's bank would make all the decisions that individual bankers used to make. The Central Bank would merely pay them for handling deposits...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!