Argentine Economy

[TejanoLibre]

If Spassmusssein does not understand the power of a federal district judge, whose ruling has been backed up by the Supreme Court, he is deluded or just plain stupid. Argentina may need a poker lesson, but Spassmusssein needs a civics lesson.

Tres3.

I can honestly say that I have never met a judge that I actually liked!

They are just such assholes when they are sitting across a bench from you!

One exception:

Judge Billy Reagan, Houston, Texas.

Wrote a pamphlet on how to beat a D.W.I in 1981 !

Great guy!

His son died of cirrhosis of the liver at 35 .

TL.

[Spassmusssein]

www.en.wikipedia.org/wiki/List_of_sovereign_debt_crises

USA just defaulted 2 - 5 times, as the page publishes. As the link changes (as I saw) huugle it, you ll find all statistics about states-bancrupcy.

Even Phillip II defaulted 4 times in his career. His bondholders where from Genua, after that "Fugger" and "Welser". Finally Phillip II paid back good in good years, bad in bad years. An argentinean blueprint ;-=))

Lending out cash is just...betting on the ability of beeing payd back.

It's finally just "Johannes Calvin's fault" who allowed the bible, to take interests.

Nobody in this funny governement will take care to Griesas final desicion. Neither any Argentine citizen.

The bondholders that will accept beeing paid in Buenos Aires will hopefully get paid.
Insisting in getting paid in NY...might be just a hopefull wish.

Have a lovely mongering night!

[Member #4112]

Hey Spass, in case you missed it the Chase Mellon bank in New York which is one of the primary centers for Argentina to disburse its payments to the bondholders who took a 70+% "haircut" refused to make that disbursement to those other bondholders and was told by that very same Federal Judge to return the money to Argentina.

While Argentina has substantial reserves, as Jackson pointed out, they have neither the capital nor the expertise and equipment to extract it.

[Gandolf50]

Every country of this world had several defaults. Just Switzerland never dafaulted.

A country with en EXTERNAL debt of apro 10%, dept total of 40 - 49% (of PBI) which produces food for 200.000. 000 families, which owns the second highest shale-gas reserves. Will never default.

For that to be true you need a Gov't that's sane and interested in doing what's right for the country! Which we all know rules out ALL of the Gov'ts in the history of Argentina!

[Tres3]

If Spassmusssein does not understand the power of a federal district judge, whose ruling has been backed up by the Supreme Court, he is deluded or just plain stupid. Argentina may need a poker lesson, but Spassmusssein needs a civics lesson.

Tres3.

[Jackson]

It is completely unimportant for Argentina what this judge presumes to rule.

Yes, of course, because Argentina will continue it's tradition of fucking every body that evers does business with Argentina.

Maybe it's of interest for the legal bondholders.

I suggest that it's going to be of great interest to Argentina in the near future.

Every country of this world had several defaults. Just Switzerland never dafaulted.

Hey birdbrain, where exactly did you get this "information"? Care to share the link with the rest of us?

A country with en EXTERNAL debt of apro 10%

Only because Argentina fucked everybody who ever lent it money. It's easy to have a low ratio of external debt to GNP when you are continuously reneging on your debts

...which produces food for 200.000.000 families...

So where's the money from all those exports? Possibly in Christina's Swiss bank account?

...which owns the second highest shale-gas reserves...

And which Argentina has no idea how to extract with it's own technology, and no oil company with the technological expertise to do the job will ever do business with the Argentine Government that fucks every international corporation it can.

...Will never default...

Are you forgetting that Argentina has ALREADY defaulted on it's bonds in the past?

Maybe P. Singer (WHASP or catholic or Sciento or mormon or) will get a interesting lesson in real life.

I would suggest that it's going to be Argentina that "will get a interesting lesson in real life".

"Never count the money, when you're sitting on the table. There 'll be time enough for counting, when the dealing is done".

P.D. "Where we better then...with our backs against the wall?" (Highwaymen)

Sounds like gibberish to me.

[Spassmusssein]

It looks as if Argentina needs a poker lesson. Even a beginner knows that you do not bluff when every other player at the table knows what cards you are holding. It was worse than amateur night in Dixie.

http://www.bloomberg.com/news/2014-0...d-default.html

Tres3.

Argentina does not need a poker lesson. Maybe another gouvernement in 17 months. THIS will happen.

It is completely unimportant for Argentina what this judge presumes to rule.

Maybe it's of interest for the legal bondholders.

Every country of this world had several defaults. Just Switzerland never dafaulted.

A country with en EXTERNAL debt of apro 10%, dept total of 40 - 49% (of PBI) which produces food for 200.000. 000 families, which owns the second highest shale-gas reserves. Will never default.

Maybe P. Singer (WHASP or catholic or Sciento or mormon or¿¿¿) will get a interesting lesson in real life.

"Never count the money, when you're sitting on the table. There 'll be time enough for counting, when the dealing is done".
P.D. "Where we better then...with our backs against the wall?" (Highwaymen)

[Tres3]

It looks as if Argentina needs a poker lesson. Even a beginner knows that you do not bluff when every other player at the table knows what cards you are holding. It was worse than amateur night in Dixie.

http://www.bloomberg.com/news/2014-0...d-default.html

Tres3.

[Tres3]

An interesting view on China.

http://www.miamiherald.com/2014/07/1...s-flexing.html

Tres3.

[Tres3]

Draw your own conclusions from the below link.

http://finance.yahoo.com/news/china-...071608537.html

Tres3.

[Big Boss Man]

6 or 7 years ago, I had a Chinese friend who spoke perfect english. He was buying mountains, barren land without water and mountians for the glaziers. I asked him why? He said today our money is undervalued and any hard asset that may have value in 20 years is better than cash.

I don't know but it happened in Los Angeles and from what Rev BS posted in World Economics in Sydney and New York. My LA girlfriend is Chinese and all she thinks about is Real Estate. With the opening of the ICBC bank in Buenos Aires, it appears as if Chinese have established some infrastructure to move money into the country.

Or are they waiting for the collapse which seems to be the prevailing view on the Board to make their move?

[Miami Bob]

6 or 7 years ago, I had a Chinese friend who spoke perfect english. He was buying mountains, barren land without water and mountians for the glaziers. I asked him why? He said today our money is undervalued and any hard asset that may have value in 20 years is better than cash.

[Big Boss Man]

http://online.wsj.com/articles/chine...ram-1405345453

China's major banks have halted an experimental program, sanctioned by the country's central bank, that helped citizens transfer large sums overseas despite government capital controls, according to people with knowledge of the matter.

The halt, which the people said was likely to be temporary, comes after the program was criticized by China's powerful state television broadcaster, underscoring the political sensitivity of the issue of wealthy Chinese moving money abroad. Experts said the criticism could set back China's efforts to ease its grip on the country's financial system.

Big commercial banks including Bank of China Ltd. 601988. SH +0. 39% , Industrial & Commercial Bank of China Ltd. 601398. SH +0. 29% and China Citic Bank Corp. 601998. SH +1. 41% have halted the program, which allowed Chinese to remit their yuan across borders, the people said. The halt came after the People's Bank of China, the central bank, started to look into allegations that Bank of China had used the program to help clients launder money, they said.

[Miami Bob]

Politically, Argentina does what is good for the political class and ultra rich. WWII neutral to make money from both sides until the very end. Al Qaeda did their banking in Argentina and ciudad del este. The ridiculous banking system was allowed to exist to further money laundering by wealthy argentines when tended to frequently do things in negro with their personal funds.

[Big Boss Man]

What are you smoking Bigbossman?

Argentina never was in the west!

How many other countries had a war against GB since 45?

Medical marijuana by prescription for my neck pain.