For as long as this humble scribe can remember, Uruguay has always been referred to down this way as "The Switzerland of South America" due to its tax haven status for foreigners and banking laws that offer tight secrecy to those who deposit cash there (before writing this post I even found a few articles in English linking Uruguay to Switzerland this way, here's a decent example). So as day follows night, Uruguay has always been home to monetary assets held by...let's say...the more dubious end of South America's wealthy (with the slushy end of Argentina's net worth particularly keen on holding acounts there).
So it came as little surprise to your humble scribe today to find out that Doug Casey is relocating to Montevideo soon. Remember where you heard it first, folks.