Posted on 08/20/2014 9:47:09 PM PDT by blam
Linette Lopez
August 20, 2014
Muted headlines about bond swaps aren't doing justice to the announcement Argentina's president made last night.
With her attempt to pass a law nullifying a U.S. Court's ruling that the country pay all its creditors, Argentina is effectively turning its back on the rules governing international finance.
If Argentina's congress passes this law, the country could enter a place where rules no longer matter and negotiation with the hedge funds to which it owes over $1.3 billion in sovereign debt are all but impossible.
What this law does is put debt that was once legally governed by the United States in Argentine jurisdiction.
It's the international markets equivalent of taking your ball and going home.
"So every government can just wave a magic wand and make their problems go away?
(snip)
(Excerpt) Read more at freerepublic.com ...
Let’s do the same thing to China.
We do it to China with every new fiat dollar The Fed wills into existence. In fact I suspect the reason we don't print more is tied to that mystery missile that was fired off the Pacific coast a couple of years ago.
maybe every nation and individual should go bankrupt and immediately go on the barter system.
I LOVE southern Argentina and my friends down there. It is a place of unrivaled Natural beauty outside of my native home of Tahoe. My friends are hurting down there. What a mess the Peronistas have made.
A straight gold - based system would eliminate progressive govt theft and end all their social engineering schemes
Argentina accepted a “pari pasu” clause and New York governing law in their debt obligations. All the judge had to do was read the singed contracts. These few hedge funds were those who actually read the debt contracts and decided not to accept the screwing the Argentine government wanted to hand out to others
Argentina has some of the dumbest economic laws since Zimbabwe and Venezuela
What are you talking about?
Link?
Regards,
he’s talking about an aiurplane’s contrail that was sighted by people with no training in perspective and was therefore, thought by them to look like a missile launch.
So there was a (test) missile launch...
So what? What possible bearing could that have on Argentina's current debt crisis?
Regards,
There wasn’t a launch and a contrail has nothing to do with Argentina. I don’t see the guy’s connection either.
“What a mess the Peronistas have made.”
The Obamunists are trying hard to catch up.
Eva’s pretty hands reached out and they reached wide
Now you may feel it should have been a voluntary cause
But that’s not the point my friends
When the money keeps rolling in, you don’t ask how
Think of all the people guaranteed a good time now
Eva’s called the hungry to her, open up the doors
Never been a fund like the Foundation Eva Peron
[Chorus:]
[Workers:]
Rollin’ rollin’ rollin’, rollin’ rollin’ rollin’
Rollin’ rollin’ rollin’, rollin’ rollin’ rollin’
Rollin’ rollin’ rollin’, rollin’ rollin’ rollin’
Rollin’ rollin’ rollin’, rollin’ rollin’ rollin’
Rollin’ on in, rollin’ on in
Rollin’ on in, rollin’ on in
On in
[Che:]
Would you like to try a college education?
Own your landlord’s house, take the family on vacation?
Eva and her blessed fund can make your dreams come true
Here’s all you have to do my friends
Write your name and your dream on a card or a pad or a ticket
Throw it high in the air and should our lady pick it
She will change your way of life for a week or even two
Name me anyone who cares as much as Eva Peron
[chorus]
Rollin’ on out, rollin’ on out
Rollin’ on out, rollin’ on out
On out
[Che:]
And the money kept rolling out in all directions
To the poor, to the weak, to the destitute of all complexions
Now cynics claim a little of the cash has gone astray
But that’s not the point my friends
When the money keeps rolling out you don’t keep books
You can tell you’ve done well by the happy grateful looks
Accountants only slow things down, figures get in the way
Never been a lady loved as much as Eva Peron
[chorus]
Rollin’ on out, rollin’ on out
Rollin’ on out, rollin’ on out
On out
[Che:]
Eva!!!
When the money keeps rolling out you don’t keep books
You can tell you’ve done well by the happy grateful looks
Accountants only slow things down, figures get in the way
Never been a lady loved as much as Eva Peron
[chorus]
Rollin’ on out, rollin’ on out
Rollin’ on out, rollin’ on out
Rollin’ on out, rollin’ on out
On out
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