Argentina will make a plea at the Unasur summit to jointly face ‘vulture funds’
During a ceremony to receive visiting Peruvian leader Ollanta Humala Argentine President Cristina Fernández said that she would make a plea for Unasur members to come together in the fight against ‘vulture funds’ (hedge funds) when the region’s leaders meet this week in Lima.
“The problem that Argentina is facing today regarding ‘judicial colonialism’ is a problem that doesn’t just affect Argentina and the Southern Cone, but all of the countries of the developed world. Even more so those that are in crisis” Cristina Fernández said on Tuesday during a brief speech at Government House next to President Humala.
“I think that this is worth talking about at the Unasur summit,” she furthered. “We have to give density to the issue in that environment; we have solved conflicts among neighbourly countries that could have led to armed conflicts, so it’s time to give more density to the methodology of unifying positions” in these issues which pretend to divide.
She added that “it seems that in international law, the strongest has the upper hand”
Cristina Fernandez also argued that Unasur countries must have common standards and regulations for those coming to invest in mining or resources because “we are one of the richest areas of the world and we have to avoid outsiders having our countries playing one against the other to their benefit and to the loss of the development of our countries and region”.
“All investors must have a common standard for the region, because they come because it is profitable but we can’t give up our rights to attract them since in the long run it backfires for the region”, underlined the Argentine president.
The bilateral talks held with Humala took place at midday and following that the two presidents attended the signing of several agreements related to education, combating drugs, industrial technology training and a memorandum on financial understanding.
On Monday representatives from Peru met with their Argentine peers in the framework of the Sub Committee on Economic and Financial affairs with the purpose among other issues to promote and expand trade. In the last five years bilateral trade quintupled to almost 2bn dollars.
Suggested Stories
-
May 23rd 2013
Cristina Fernandez administration limits overseas dollar extractions to a minimum
-
May 22nd 2013
Argentina's Judicial Reform: A Farewell to the Rule of Law and the Separation of Powers.
-
May 20th 2013
Brazil trapped by Argentina and Venezuela economic mismanagements
-
May 18th 2013
Argentina forces cancellation of all Lan flights by suspending ground services
109 comments Feed
Note: Comments do not reflect MercoPress’ opinions. They are the personal view of our users. We wish to keep this as open and unregulated as possible. However, rude or foul language, discriminative comments (based on ethnicity, religion, gender, nationality, sexual orientation or the sort), spamming or any other offensive or inappropriate behaviour will not be tolerated. Please report any inadequate posts to the editor. Comments must be in English. Thank you.
That we are the only nation IN THE HISTORY OF PLANET EARTH to stand up to the vultures.
CFK: C'mon gang, WE need to stand up to 'em!!!
How far will that go? The others have far healthier trade relations outside of SA than Argentina does.
I imagine this thread will very quickly devolve into a Troll Panto.
LOL!
Don't be ridiculous. The UK passed laws against vultures LONG BEFORE YOU WERE DODGING YOUR CREDITORS.
and in return???? equal negative investment, and currency devaluation
Yeahhhhh Gooo Argentina! you know how to drive a bargain!
Well they worked like a charm, those visionary UK laws.
hahaha.
Leave it up to us, we'll clear up your mess.
just in time for unasurs grand meeting, sounds like argentinas in a mess they cant clear up, who would of guessed!
Sleep well tonight Argentina, im sure its all just a nightmare! Chin Chin!
“How far will that go? The others have far healthier trade relations outside of SA than Argentina does.”
That's their fault for becoming so dependent on foreign-fiends. Maybe the lesson is not to get to many deals and trade or you suddenly realize you lost your sovereignty to make decisions.
Stupid child that you are trying to become separatists and isolationists, what now to do?
TMBOA has asked for help! She is opening the flood gates to everyone in LatAm to fight her battles for her. Has she no shame?
Of course not!
What a laugh the world is having at AG.
Nov 27th, 2012 - 11:50 pm
Way to go trolley boy. Drum up their support by insulting them, works every time.
If Argentina loses this battle, they lose too, big time.
When they fall into crisis, what is going to happen is that bankers will deliberately MAKE things worse through propaganda and speculation to drive countries around the world bankrupt, even if the real economic conditions don't warrant such an extreme case.
Why? Because then the vultures will snap up all the bonds, and then demand full payment plus interest.
In other words, it will become profitable to drive countries too the ground and to economic collapse, because you will make more money that way than by them just paying in a normal fashion.
Argentina may be the central focus right now, but it will be one of the least hurt by the legacy of this epic confrontation.
What she meant was “South America are one of the richest areas in world except us cos we're skint and will you help us out”
Some, possibly delusional, folk will say nothing matters and they just need 8000 anti aircraft guns and all will be good, well there it is.
no blood pressure? delayed pregnancy? foot in trout mouth?
compulsive klaptomania?(habitual)!!
cancer? (no wait she cant,chubbys using that one),
head-up-a55 syndrome? brain rigamortis? festering angina lips?
Galloping Camel toe ?
What is a KFC de Pollo?
Deep fried food is not part of Argentine diet. yuck. Do if I do go to Chile or Brazil I may try it just for the experience.
Argentina has its own culture and is not overrun by Kentucky Fry, Dominos, Dunkin Doughnuts (though there is something good to those pastries), etc. Even McDonalds is tame in comparison to our neighbors, where every solitary corner is overrun my Americanism.
That's a new one.
So Argentina borrowed money of its own free will, then defaulted, then DEMANDED that the people who loaned them the money accept a pittance in return.
Those that didn't have now been labelled vultures. Argentina now refuses to pay back the money, heading for a second default. There credit rating will soon be so low that Somalia will seem like a haven of good business opportunities in comparison to Argentina.
But none of this, according to CFK, is Argentina's fault, it's the fault of the people who loaned them the money for not standing idly by and letting Argentina rob them.
So now, CFK is 'begging' her South American counterparts to all commit financial suicide so she doesn't have to go down the tubes alone.
I'm sure Brazil especially I'll be willing to sacrifice all the progress they've made, destroy their own very good credit rating and standing in the international community for the hubris of CFK. I also doubt the others will either.
It'll be a few empty words of sympathy but that's all.
I personally believe that CFK is jealous of Dilma's success as a President and is hoping to take as many countries in South America down with Argentina.
Oh and Nostril (TTT) the thing about vultures is that they only circle the weak, the dying and the dead. Says it all about Argentina doesn't it?
Her government really does give the impression of not being in control. Funny to watch from afar, given how much she has p*ssed off the UK over the Falklands, but can't be great to be an Argentinian suffering from her mistakes.
You've missed the point again. The legislation was designed to protect the needy and vulnerable, rather than squandering incompetent rip-off merchants posing as Robin Hood.
Waiting for default...
But they wouldn't spend the money at home would they? No your government would just steal it, like they've already stolen millions, if not billions.
So your comment was wishful thinking. The poor of Argentina will remain poor, and TMBOA is determined for the middle class and rich to join them all in their poverty.
@3 What a pity that so few people want to have anything to do with you. Still, isolation is good for you. It's very popular with diseases.
@8 Have you not looked around? All you make is messes.
@10 Can you list the court cases all those other SA countries are involved in? And the locations where their detained national vessels are being kept?
@13 No. An attack on argieland is an attack on argieland. I've just been thinking about SA without argieland. See how we care about the world. We have to start somewhere and how fortunate SA is that we have decided to start by stamping out criminality, corruption, colonialism, war mongering in their area. A few years and the whole of SA can be happy and prosperous. Just as soon as the thugs have been reduced to impotence.
@15 Hang on to that thought! Should make you feel a whole lot better when you're freezing in the dark!
@36 Got any “assets” outside the “country”? Say goodbye to them!
It will make no sense for emerging countries to borrow money and pay higher interest (or any interest at all), since they would be forced to pay it all back no matter what happens in their own or the world economic context.
In other words, the risk=reward equation is eviscerated. Sweet deal if I have money to lend, and I charge whomever I lend it to 5% and I know that I get my money back regardless of what he does. If the lender is without risk, then no borrower will risk his skin to set up a business or new idea... the burden being shifted entirely to the borrower will kill the precious “system” of finance people here preach about.
That will cause a major global collapse, this time not initiated in the USA o Europe, but in the emerging markets... they will see no sense in borrowing, since the risk is entirely shifted to them. As a result the world goes into another meltdown.
Once that is out of the way circa 2015, even if countries do borrow again (knowing its a lose-lose for them and a win-win for the lender), what will happen is that banks will collude with vulture funds to feed wrong and false information and propaganda about a country's economy and finances.
Country X could be doing everything “right”, having a responsible budget, solid growth, wise policies... but the banking lobby would manufacture a crisis for them. Why? Because my creating a crisis then they can bring down the debt of that country to near nothing value... and then have the vultures snap them up for the banks.
Since they are getting their full money plus interest no matter what as the “default”option by a country is eliminated from their risk assessement, they wil no longer be afraid of driving a country to the ground and risk not getting paid.
Once they snap the countries bonds for pennies, still getting full payment, the banks and vultures make a massive profit.
Banking tiranny.
“That's their fault for becoming so dependent on foreign-fiends. Maybe the lesson is not to get to many deals and trade or you suddenly realize you lost your sovereignty to make decisions.”
No country today, including any in south america, can be totally self-sufficient without suffering a high cost. All countries need to—and choose to—import at least some goods and services. A good is a tangible item that someone has made, mined, or grown. A service is a form of work, assistance, or advice that provides something of value to someone else but does not produce a tangible item. for the following reasons:
1.Goods or services that are either
a. essential to economic well-being or
b. highly attractive to consumers but are not available in the domestic market
2.Goods or services that satisfy domestic needs or wants can be produced more inexpensively or efficiently by other countries, and therefore sold at lower prices.
They unasur countries are going to say...“yeah we support you asslips” as they continue to import needed goods and services . Tito the clowen troll, you should run argentina, you can put it out of her misery quicker than asslips kirchner.
What an absolute load of rubbish !
Why would the lender sell their bonds for pennies to a “vulture fund” if they could get full payment themselves?
Because the original lender would be the retail investor: the “italian” and “german” Opas and nonnas.
The banks offer them (directly or through surrogates) these “safe yet good yielding” instruments... The banks make money from the fees charged to the country for issuing the bonds, fees to the surrogate investment services offering the bonds, and from the buyers of the bonds.
Then, with the default possibility gone from the capitalist system (no risk in lending money, you get all of it back no matter what happens), they proceed to open the flood-gates and offer inordinate amounts of cash to people and countries.... Then they begin to drive down the price of those bonds by creating a crisis. Once that takes place, they have the vultures by the bonds from the desperate Opas and nonnas who can't widstand further drops in value of their investments... they don't do it themselves so as to not have their hands dirtied.
Once the vultures by the bonds for pennies of their original value, they sue the country for full payment and interest. Judge Griesa Junior agrees... then the Vultures make a killing and the bank takes a lofty cut of the profits as part of the agreement with the vulture funds to bring down the prices of the bonds.
The transfer of money from the nation's treasuries and from the pockets of ordinary private citizens to the banks complete, they can start the process al over again.
That simply makes no sense.
Since you're in the mood to defend hopeless causes, read this:
www.independent.co.uk/news/world/americas/victims-of-death-flights-drugged-dumped-by-aircraft--but-not-forgotten-8360461.html
Now could you explain why it's taken 30+ years to put these animals on trial? Can't be that you didn't know who they were. Still useful, were they? And what about all their bosses? Could it be that something really nasty is coming up and CFK wants to use them as an “example”? Will argies forget their national bankruptcy and concentrate on 68 scapegoats?
Is she really suggesting that others basically pay HER debts,
Perhaps they will get the Falklands back as well,
Get that poor little ship out of prison,
Buy her a new dress perhaps.
Still,
Its amazing what some people want for XMAS this year,
But will she get it,
Not bloody likely .lol.
ANTONN it's time to come out from the jungles don't you think? If you do not need the USA and EU, ceasse and disist trade....immediately. Tell asslips kirchner and the YPF ceo to stop coming to the USA and UK begging for investment money for YPF, then and only then will anyone believe that south america does not need the EU and USA
“In other words, the risk=reward equation is eviscerated. Sweet deal if I have money to lend, and I charge whomever I lend it to 5% and I know that I get my money back regardless of what he does. If the lender is without risk, then no borrower will risk his skin to set up a business or new idea... the burden being shifted entirely to the borrower will kill the precious “system” of finance people here preach about.”
Nozzy, so are you saying that the lender should take the risks?
If the venture takes off, the borrower reaps the profits?
And if a borrowers venture fails, the lender loses his money, and the borrower is free to walk away to start another venture with somebody's else's money?
Please explain the incentive to lend? How much effort should the borrower expend to make his venture work or make it truly competitive.
If the borrower is not accountable, what's to stop the business from paying all its owners ridiculous amounts and then fold up shop, and start again??
Oops! Isn't that what the Argentine 'nationalised' companies are doing now?
I do hope that in your new State of Isolation/Idolation, CFK sets up a Business Development Bank for Argentina's citizens.
@46
”Then, with the default possibility gone from the capitalist system (no risk in lending money, you get all of it back no matter what happens), they proceed to open the flood-gates and offer inordinate amounts of cash to people and countries.... Then they begin to drive down the price of those bonds by creating a crisis. Once that takes place, they have the vultures by the bonds from the desperate Opas and nonnas who can't widstand further drops in value of their investments... they don't do it themselves so as to not have their hands dirtied.”
Is hat how int'l banking works?
Lend to a healthy viable country or business and then de-stabilise it or undermine it, deliberately, and hope to reap larger rewards while screwing your investors ??
It's the Argentine way - and probably explains why they are in a creek without a paddle again.
It's not worth the effort to try and work out Nostrolldamus's (and his many aliases) nonsense posts.
In his own mind he is of such superior intellect that we could not begin to understand him anyway.
It is easier to let him prattle along in his own way - one of the other finger puppets will come out in his support.
Well, in that case go relive tapes of the period circa 2007-2009, you seem to have been in a comma for that.
I think its beyond struthious that you people still trust the bankers. It's simply daft, but heck its your lives not mine.
A comma? As in:
n.
1. Grammar A punctuation mark ( , ) used to indicate a separation of ideas or of elements within the structure of a sentence.
2. A pause or separation; a caesura.
3. Any of several butterflies of the genus Polygonia, having wings with brownish coloring and irregularly notched edges.
A strange place for Troy to have been in, isn't it?
However, Tobias, feel free to isolate yourself from the world, because after all Argentina doesn't need the world.
So pay back your debt, you thieving cheats, then disappear behind your soy curtain forever.
You may not pay today or tomorrow, but one day Argentina will have to pay,mans with interest.
The amusing thing is that you can't cope by yourselves now, and are BEGGING the rest of South America to bail you out. How humiliating for you to have your government to get down in their knees and beg in YOUR name, whilst at the same time spouting rubbish and lies about colonialism! A colonial country slating itself! LOL
The rest of South America laugh at your country for having such inept leaders, as does most of the rest of the world.
The response will be, “oh yes Cristina you're right the evil people are picking on you. Sure we'll back you, honest.”
Then it'll be back to normal business the day after, whilst your President humiliates Argentina even more on the international stage.
Soon Argentina won't be able to borrow a cent, and even Chavez hasn't got enough money to keep Argentina afloat forever (you already owe the people of Venezula $5 billion US). You have to pay that back too, with interest. Or are Venezula colonial vulture fund holders too? LOL
Poor Tobias, defending the indefensible because you are too stupid to realise that Argentina's true enemy are your current government who are robbing you blind.
Sounds like the plot in an amateur soft S&M vid.
oh dear --- your use of certian words is giving away who you are again!
you need to concentrate a LOT more on keeping your multiple characters disassociated, using different writing styles and avoiding using the same words (particularly obtuse ones) and/or key phrases.
Otherwise its blatantly obvious that one person is posting on more than one account (regardless of swapping IP via VPN et al)
You KEEP slipping up on this, pay more attention otherwise even the newbies to the forum will spot your “alts” right away.
expected better of you tbh, very disappointed in these slip-ups. :-(
Nov 28th, 2012 - 04:45 pm
”... Chavez hasn't got enough money to keep Argentina afloat forever (you already owe the people of Venezula $5 billion US). ”
Remember that we also owe Chubby Chávez interest on the loan, a mere 15%!!!!!
It is interesting to note that the IMF is scheduled to revisit Argentina on 17th December after giving the country the 'Yellow Card' for issuing misleading statistics on growth and inflation. It beggars belief that the country's statistics office INDEC is still putting out figures that shows annual inflation running at 9% when the true figure is nearer 25-20%.
Bring on the 'Red Card' penalties!
I see. So Argentina refusing to pay its debts is actually a crusade of the righteous for which we should all be grateful?
version II is a lot better but not out yet...
surprisingly avid posters like the “thinks” and “tobias” have submitted more than enough text to allow statistically accurate data to be produced. It totally obviates the need for IP checks, so is one of the few ways that the use of VPNs, with variable IPs, can be used to pretend to be other people.
its pretty much the same stuff as we used in the police and in forensic document analysis..but v I is a bit clunky
IBRD Loans - $9.137 billion
en.mercopress.com/2012/11/28/the-clandestine-repressive-condor-plan-was-masterminded-by-the-brazilian-military
Note the argie involvement. As always. Is there anybody else argieland hasn't blamed for its crimes? Is there any crime argieland hasn't been involved in?
@61 Don't bother with your knees. Down on your belly, scum. How you deserve to have your head jumped on and your skull crushed.
If there is, it's an almost certainty that Britain WILL have committed it.
and your point was....?
If you lot spent as much interest in your own country, rather than the oomph you put into everybody else’s,
Argentina might , just might have a decent future,
still,
as long as you would rather steal and blame others, you will always be looked upon as self humiliated losers.
We see all of you as losers, and your superiors see you as muppets.
I think its better to be seen as losers. See, we Argentines are kind.
www.telam.com.ar/nota/45400/
Try reading the article. The IMO never said any such thing. Alicia Castro did. The IMO judgement isn't until tomorrow.
Ha, ha, ha, was that the best you could do? Alicia Castro no less, yes, of course we believe her, when has she ever lied? Only all the fcuking time.
Also, the so called report contradicts itself - trying her secretarial skills was she?
You need to do better than this.
Wouldn't the dyed headed old pensioner Alicia Castro,Hitler Kirchners lover be better suited going back to the Bankcrupt Airline Aerolines Argentines as a nationalised old bird
www.telam.com.ar/nota/45400/“”“”“”“”“;
numpti ;-0
--------------
”“”“”“”“”“Argentina is not interested in the opinions of a bankrupt world, morally, economically, politically... or all of the above.”“”“”“”“””
That's a real shame , you would have fitted right in. :-)
Nah, you were just a bit premature announcing the IMO verdict before the IMO has actually reached it.
Imagine that, a premature ejaculation brought on by Alicia Castro. What would the Pictish Peronist say?
www.gregpalast.com/the-globalizer-who-came-in-from-the-cold/
“What your obsession with humillation, getting down on one's knees, and begging?
Sounds like the plot in an amateur soft S&M vid.”
Try like an Alicia, Crissy soft S&M vid !
:/D
“all rubbish comments made by the UK team”
LOL nutjob. You've been out-sussied !!!
No payment to holdouts and a set back for Thomas Griesa’s Singer friend.
No Default
No Libertad to be embargoed anymore.
No UK economy recovery and going even worse.
No carriers
No jets
No Army
No hope
No money
No teeth and may be running out of fresh Kebabs...
Don't spend too much at Christmas, you don't know where your next meal will be coming from.
:-D
Don’t worry mate I have all well planned. If happen to be short of cash I will start to sell shares of my investment fund to explore Oil and gas in FI to some people in some Island in the Atlantic.
And licenses for fishing to the Russian and Chinese in Malvinas.
After cashing some millions I will say Oops seems some bloody British Squatters have taken over your possession. You how they are they have no respect for anybody and you know what bothers me more...
They called you Russian and Chinese cowards that will not have the guts to take back what is yours.
I do apologies mates was not my fault but in sign of good will I will give you back 1 millions to fund the retaken Malvinas campaign.
I have a also a project to sell protection for Cayman Islands vulture funds by Tomas Griesa in NY.
Do you wanna buy?
That was very odd. ?
Yeahhh! I guess that I have to re design may plan a bit...
I guess that 1 m is too much... Half would be enough?
Four years more of ObamaDebt...
Any comment about that?
Dany what are your thoughts on Evo's delegitimizing mestizo in the recent census being taken?
WTF I know?
I’ve never been in Bolivia and you?
You need to get out more often ere a road map for USA slums.
more than 60 millions poor under the line of poverty 3er world style.
Baltimore ghettos
www.youtube.com/watch?v=q6WYUymObNY
unemplyment and poverty
www.youtube.com/watch?v=GO5b_FwR5HU
www.youtube.com/watch?v=73UBl68icjw&feature=player_embedded#at=27
www.youtube.com/watch?v=CnnOOo6tRs8
SACRAMENTO, CA: THE PEOPLE OF TENT CITY
www.youtube.com/watch?v=W8EcDVhMSss
shantytowns Ontario
www.youtube.com/watch?v=LnVTqJjV5Uc
www.youtube.com/watch?v=mOvXs-Fk72s
Sacramento california
www.youtube.com/watch?v=1owwvwi6t30
www.youtube.com/watch?v=ndanGXV_uYU
www.youtube.com/watch?v=tGxKdDinkKk
New jersey
www.youtube.com/watch?v=VxDnlvbLr0Q
San diego
US streets full of formerly middle class
Miami
www.youtube.com/watch?v=obho7uBg3-A
Poverty in rural areas USA
www.youtube.com/watch?v=SutshaFS3lk
www.youtube.com/watch?v=H8RIFtrXMAk
Cancel, cancel please...
Why the f@ck and Argie would want to go to a such shitty country full of poor and idiots like you to start with?
To be killed in a cinema while watching a movie?
The argie middle class go to Uruguay, Brazil, etc. for vacations the more wealthy go to Europe or exotic places and the really poor go to Miami to dance salsa and eat burritos because is cheaper.
So may be you will lose some tourism class “c” after all.
BTW how much do you have to pay to get an Argie visa?
Still $160.00?
Here some advise...
“Make sure your passport has blank Visa pages.
Most destinations, including Argentina, require that you have adequate un-used pages in your passport, allowing for any necessary stamps upon arrival and departure. We recommend that you have at least two free pages in Visas section of your passport before any international travel. U.S. citizens can get extra passport pages added to their passports as fast as within 24 hours.”
The above is only valid for US citizens but if you show you Bolivian passport you can enter free an visa is not required.
“The argie middle class go to Uruguay, Brazil, etc. for vacations the more wealthy go to Europe or exotic places and the really poor go to Miami to dance salsa and eat burritos because is cheaper”
Ha ha Dany, I bet you've never travelled anywhere, and you jump at the chance to live in Miami.
We'll see how much the regular Argentines are travelling, a year from now.
Meanwhile, your politicians will travel freely to exotic places, spending YOUR money!
Think about it over Christmas, at home. :-)
IMF wants an accounting from you on Dec 17 2012. Tick tock!!
“Salsa and cheap burritos”?? You sound a lot like “Sussie”.
Or is that just a standard Argentine put-down of another LATAM culture ???
Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!