Argentine Economy

[Tres3]

If I have read the below linked article correctly, it looks as if the Argentina Government is robbing Peter to pay Paul.

http://finance.yahoo.com/news/argent...--finance.html

Tres3.

[Tres3]

I realize this is a very complicated issue but I'm confused about something.

I always through that Singers group had bought up the default bonds for pennies on the dollar. I assumed that for years until I was directed to some information that said they paid around 70 cents on the dollar. If that is true, how could the original debt have been 80 billion, Argentina will be paying I think the article said around 10 billion and Singers group will see nearly 400% on the original investment?

Not disputing, just curious.

Singer's group bought mostly "floating rate" bonds. See my earlier post on Feb. 9 for more details.

Tres3.

[Daddy Rulz]

Jax, good post. I know one of the holdouts in Singer's group. He's Turan Group out of Boston. I wouldn't call him a "minion" but he has been down here for conferences on the defaults a number of times. He's brilliant and says he was small potatoes having invested only a half a million. These guys have so much dough that they don't lose sleep over bonds they know are eventually going to be retired. The only question was how much? With accumulated interest, I would guess the offer of 75% of face is going to pay much more than a hundred percent of face value. Good deal for the bond holders and a great day for Argentina. It's not a done deal yet, but I think Congress will approve. Enjoying my visit here. Thanks. Bobby Doerr.

I realize this is a very complicated issue but I'm confused about something.

I always through that Singers group had bought up the default bonds for pennies on the dollar. I assumed that for years until I was directed to some information that said they paid around 70 cents on the dollar. If that is true, how could the original debt have been 80 billion, Argentina will be paying I think the article said around 10 billion and Singers group will see nearly 400% on the original investment?

Not disputing, just curious.

[Bobby Doerr]

I guess all of the sleepless nights endured by Singer's minions are going to finally pay off--if the Argentina Congress does not fuck it up.

http://finance.yahoo.com/news/hedge-...144957191.html

Tres3.

Jax, good post. I know one of the holdouts in Singer's group. He's Turan Group out of Boston. I wouldn't call him a "minion" but he has been down here for conferences on the defaults a number of times. He's brilliant and says he was small potatoes having invested only a half a million. These guys have so much dough that they don't lose sleep over bonds they know are eventually going to be retired. The only question was how much? With accumulated interest, I would guess the offer of 75% of face is going to pay much more than a hundred percent of face value. Good deal for the bond holders and a great day for Argentina. It's not a done deal yet, but I think Congress will approve. Enjoying my visit here. Thanks. Bobby Doerr.

[Tres3]

I guess all of the sleepless nights endured by Singer's minions are going to finally pay off--if the Argentina Congress does not fuck it up.

http://finance.yahoo.com/news/hedge-...144957191.html

Tres3.

[Tres3]

The below link seems to indicate that the Argentina debt debacle is almost over -- if the Argentine Congress does not fuck it up.

http://finance.yahoo.com/news/argent...160120062.html

Tres3.

[Tres3]

The below link is to an article that appeared on the front page of Wednesday's Miami Herald.

http://www.miamiherald.com/news/nati...e62021447.html

Tres3.

[Tres3]

The below link is to a recent Bloomberg article about the defaulted Argentine bonds. It is the first time that I was aware that Argentina was foolish (or desperate) enough to issue floating rate bonds.

http://www.bloombergview.com/article...=yhoo.headline

Tres3.

[Tres3]

Following is a link to this article.

http://finance.yahoo.com/news/mediat...7--sector.html

Tres3.

[Daddy Rulz]

http://www.clarin.com/politica/Davos...508849387.html

Not KK, pretty sharp guy.

Build on what you have, being able to feed yourself is pretty huge.

[Thomaso276]

http://www.clarin.com/politica/Davos...508849387.html

Not KK, pretty sharp guy.

[Spirit Rider]

They think only governments create economic growth and jobs are blown out of Christina's a$$.

They will surely view this as Yankee Imperialism.

[TejanoLibre]

Good News.

http://www.businessinsider.com/r-coc...r-years-2016-1

TL.

[Johnny Drama]

Inflation-stricken Argentina to issue higher denomination banknotes.

http://www.cnbc.com/2016/01/15/

I knew this was coming !

Beware of fakes.

TL.

Here is the working link:

http://www.cnbc.com/2016/01/15/reute...banknotes.html

[TejanoLibre]

Inflation-stricken Argentina to issue higher denomination banknotes.

http://www.cnbc.com/2016/01/15/

I knew this was coming !

Beware of fakes.

TL.