Seriously, Badass, the south american clubs back in the 50's and 60's were just as good, if not better, as the European clubs.
The greatest south Americans didn't go to play in Europe like they do now and 99% of the Argentinian and Brazilian players played there.
It's something like Boca, River, Santos or Sao Paolo today having players like Messi, Zanetti, Ronaldinho, Amauri, Kaka, Diego, Mascherano etc.