There was actually a joking reference to these rumors at the end of the YELLOW SUBMARINE cartoon film in 1968.

The Blue Meanies have been routed by "Love" and their now-powerless leader, the Chief Blue Meanie, turns to his still-loyal and inexplicably cheerful aide, "Blue Max", in humiliation and despair:

Chief Blue Meanie: Max?(sighs) It's not a blue world anymore, Max. Where shall we go?

Blue Max: (with a knowing gleam in his eye) Argentina?