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Spending galore: Argentine central bank financing Treasury outlay shortcomings

Tuesday, December 4th 2012 - 05:49 UTC
Full article 82 comments

The Argentine central bank has been financing the Treasury with so called ‘transitory advances’ to the tune of 101 billion Pesos (approx 20bn dollars), a sum which is expected to increase given the additional outlays of the end of the year particularly with the Christmas bonus. Read full article

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  • Troy Tempest

    Oh, dear - printing even MORE money !!

    What will happen to the value of the Peso, do you think??

    Argentina: Do your shopping early - the Peso will buy even less by Christmas.

    Ho Ho Ho trolls

    Dec 04th, 2012 - 05:57 am - Link - Report abuse 0
  • Pirat-Hunter

    Well done CFK Argentina's national bank will not take Argentina's tax revenues to another country or deposit it in a swiss bank. IMF can kiss their scams goodbye. We love you CFK keep up the good work. About an Argentine gold coins to prevent Inflation.

    Dec 04th, 2012 - 06:09 am - Link - Report abuse 0
  • Frank

    @2 they are printing paper pesos, dumbo, not minting gold coins.......

    Dec 04th, 2012 - 06:22 am - Link - Report abuse 0
  • Troy Tempest

    @02 Alex Vargas

    LOL, do you even understand the story?

    LOL LOL

    Dec 04th, 2012 - 07:04 am - Link - Report abuse 0
  • War Monkey

    @2 Pirat-Hunter (#)
    Dec 04th, 2012 - 06:09 am

    It must be nearly bonus time. Work it girl! Work it!

    Dec 04th, 2012 - 07:37 am - Link - Report abuse 0
  • jaydub

    Hyperinflation will be back soon, if they keep this up.

    Dec 04th, 2012 - 07:54 am - Link - Report abuse 0
  • toxictaxitrader2

    overspending will come home to roost,dodgy bookkeeping won,t help!

    Dec 04th, 2012 - 08:14 am - Link - Report abuse 0
  • Ayayay

    Hetero orthodox accounting!

    Dec 04th, 2012 - 08:29 am - Link - Report abuse 0
  • Raven

    Call me a cynic, but I'll take bets TMBOA wont go for re-re election in 2015.

    After all, there will be such a huge financial hole to plug, her devout followers will simply blame the crisis on the next incumbent. meanwhile she'll be in Venezuala, spending dollars and not pesos whilst Argentina goes to hell in a handbasket.

    No doubt PH and the rest will be cheering her on from the sidelines. Perhaps he can tell us where they buy their rose tinted spectacles? They must be some of the best in the world, right up there with dictator grade.

    Dec 04th, 2012 - 10:22 am - Link - Report abuse 0
  • ChrisR

    But anybody who realised what TMBOA was doing must have known this.

    The actual amount was unknown but the mechanism was blindingly obvious.

    There is a saying in the UK: 'robbing Peter to pay Paul' or in this case ’robbing the country to pay TMBOA’.

    Colossal devaluation coming.

    Dec 04th, 2012 - 10:58 am - Link - Report abuse 0
  • Captain Poppy

    2013 should show obvious results of her incompetence that even her supporters cannot deny. Hopefully some in congress will pay the press for giving cuntina the keys to the car and letting her enter a demo derby

    Dec 04th, 2012 - 11:12 am - Link - Report abuse 0
  • Optimus_Princeps

    @2

    People like you are the reason no one takes the CFK's followers seriously. It seems like someone drank a little too much of the kool-aid, while smoking paco and using Google Translate.

    The botox queen seems to ignore the finer points of keeping an economy thriving and well. One of those elements in financial freedom, the other is mass cooperation (and I mean with people that actually produce something). A government needs to give the economy to room to breathe, not exploit it out of privilege. Sadly, all they do is look for privilege without responsibility.

    By the way, the computer you're using was probably purchased with tax dollars taken from the middle class that you demonize so much. That's assuming you're even in Argentina. Enjoy it before Cristina's “progressive” model destroys Argentina financially, even for lazy crumb snatchers.

    Dec 04th, 2012 - 12:00 pm - Link - Report abuse 0
  • Captain Poppy

    #2 The Canadian is correct in that the Central Bank will not take Argentina's tax revenue to another country or to a swiss account. Cuntina the Fuhrer will be doing that herslef to her own Swiss account. It would look bad is the Central was making the deposits for asslips kirchner.
    #12 he is a Canadian, been there since his parents immigranted there many years ago when he was a little chico. He has never been to the fatherland himself.....lol

    Dec 04th, 2012 - 12:43 pm - Link - Report abuse 0
  • Optimus_Princeps

    @13 He certainly doesn't act like one. I thought Canadians were supposed to be happy and optimistic, not prone to stupidity from abroad.

    Cristina supporters abroad are abrasive, as they are miles away from feeling the effects of CFK's endless capacity for stupidity. Argentina has become an all you can kill, rape and steal buffet for moral degenerates.

    In one of the poor communities that I volunteered at, had a group of girls whose parents used them as drug mules when they were 10. If their grandmother hadn't taken them in, they would've been sold to drug addicted pedophiles before puberty. Both of their parents had bullets put through their heads this year because of their dealings with the drug trade. That's a taste of what Argentina has become lately.

    The police won't do anything because they come from the same households. Who would arrest their own cousin? Besides, a job for the local PD is like a welfare check of sorts. If they sit around ignoring 911 calls, they aren't held accountable.

    @2 Do you support Kretina's retardation now?

    Dec 04th, 2012 - 01:33 pm - Link - Report abuse 0
  • yankeeboy

    Rain rain go away come again another day...this is what is going round and round Chrissy's bi-polar brain

    Too much rain is quickly decreasing their Soy crop expectations. I think I mentioned this before, moldy wheat and No Soy will make Chrissy a sad sad girl.

    It is nice that a failing economy has is not having any effect on her or her family's spending. It looks like they are creating a nice dynastic abode for themselves.

    Sickening Marxists.

    Some animals are more equal than other animals

    Devaluation Hyperinflation Depression

    Assured

    Dec 04th, 2012 - 01:37 pm - Link - Report abuse 0
  • Shed-time

    @15 surely if KFC is a marxist she would be a proponent of social ownership, going against 'industrialisation' (KFCs favourite phrase) and 'private ownership' (Maximo's palace, KFCs special YPF funds in Switzerland).

    The only political ideology that I can associate with KFC or the 'Front for Victory' is pathological larceny.

    Dec 04th, 2012 - 01:59 pm - Link - Report abuse 0
  • Orbit

    Keen observers will recall this story:

    http://en.mercopress.com/2012/10/18/ypf-sells-medium-term-debt-in-pesos-equivalent-to-423-million-dollars

    Wherein the spokesperson claims the issue was oversubscribed. Now we hear that the central bank has been buying YPF corporate debt ... So did the government buy more than they needed to ? Surely that can't be true.

    Maybe PH sold his XBox and saved his paper round money and was the 'other' creditor, pushing the issue into oversubscribed status as the government was underwriting the full amount ?

    Dec 04th, 2012 - 02:16 pm - Link - Report abuse 0
  • Spainexpat

    An interesting read;
    Guest post: Time to ratchet up the pressure on Argentina
    http://blogs.ft.com/beyond-brics/2012/12/04/guest-post-time-to-ratchet-up-the-pressure-on-argentina/

    Dec 04th, 2012 - 02:19 pm - Link - Report abuse 0
  • Shed-time

    @17 It's quite likely the La Campora ruling 'Fourth Reich Committee' stumped up some of that missing cash in order to buy shares, because let's face it they're oh so good at running economies and airlines.

    Dec 04th, 2012 - 02:22 pm - Link - Report abuse 0
  • briton

    The Argentine central bank has been financing the Treasury with so called ‘transitory advances’ to the tune of approx 20bn dollars), a sum which is expected to increase
    particularly with the Christina bonus.
    To her self and her government.

    And they refuse to pay there debts,
    And that poor little abandoned unwanted boat, just sits there,

    Shame on you CFK .

    .

    Dec 04th, 2012 - 02:33 pm - Link - Report abuse 0
  • Welsh Wizard

    @17

    All oversubscription means is that there were more buyers than bonds (100 bonds, 120 buyers). This doesn't mean that they actually sold 120 bonds. In fact, oversubscription could push the price up so I could be that there were 70 private investors and the government bought up the equivalent of 50 (thus making 120). No skin of the gov's nose as the money is all going to the same place and they also get to say it is oversubscribed and show what a popular move the expropriation and also how much good market sentiment there is towards YPF...in the end though it is smoke and mirrors...

    Dec 04th, 2012 - 02:36 pm - Link - Report abuse 0
  • Idlehands

    18 Spainexpat

    Great article that everyone should read.

    Dec 04th, 2012 - 02:41 pm - Link - Report abuse 0
  • Shed-time

    @18,22 Sure, it's a very interesting article. I particularly like the part about the Grauniad newspaper, in it's wisdom, holding Argentina as an example of an economy that all failed states should emulate. It says an awful lot about the academic abilities of your average Grauniad reader.

    Dec 04th, 2012 - 02:45 pm - Link - Report abuse 0
  • Idlehands

    It's good for the errant state if they can get away with it.

    A bit like a bank robber that doesn't get caught.

    Dec 04th, 2012 - 03:14 pm - Link - Report abuse 0
  • Nostrolldamus The 2nd

    Let me resume that article @18 and its author in just one word:

    http://www.youtube.com/watch?v=qS7nqwGt4-I

    Dec 04th, 2012 - 03:29 pm - Link - Report abuse 0
  • Shed-time

    The issue here is that Argentinians are completely somatised by the vacuous promise of some kind of socialist dream, and yet they don't have the education to realise that none of the underlying principles to the ideology relate to anything vaguely socialist. One minute they're lobbying for YPF to be sold, then they're lobbying for it to be 'expropriated' not nationalised as one would expect under socialism. There is no push for common ownership, a move against regionalised democracy and instead a focus on centralised rule by decree.

    Their foreign reserves will soon be gone and then what? Their society is effectively broken through years of amorality and the broken promises of peronist-hitlerism and now I feel social turmoil is going to completely wreck the place.

    Dec 04th, 2012 - 03:35 pm - Link - Report abuse 0
  • Captain Poppy

    #18 it was a very interesting article and quite right that argentina needs to be made an example of so other countries realize that going rougue do not have a payoff.
    No one that actually reads titti boi references utube as a real piece of evidence.....lol. Go back home, momma is worried.

    Dec 04th, 2012 - 03:38 pm - Link - Report abuse 0
  • Nostrolldamus The 2nd

    @27

    Its true rogue does not pay-off (Argentina is not rogue, except from the bankers perspective).

    The USA is however rogue has been for a couple of decades and now you are paying for that: one million dollar attack and you have to spend 2-3 trillion to counter it.

    Repeat tha process a few more times, and your country is finished.

    Dec 04th, 2012 - 03:46 pm - Link - Report abuse 0
  • Raven

    @25 NasalIncompetent the pointless.

    That's 2 words that you linked to.

    Do you use the same counting methods as INDEC? :D

    Dec 04th, 2012 - 03:47 pm - Link - Report abuse 0
  • Shed-time

    Fundamentally Argentina is not rogue if the senseless masses within the country are happy having some lady, her fat son and her friends steal from her. The country becomes rogue where external to the country it reneges on contracts, dismisses court rulings in jurisdictions that they have signed contracts and agreements, and steals from those outside the country.

    Under this understanding, yes, it is a rogue state.

    Dec 04th, 2012 - 04:03 pm - Link - Report abuse 0
  • Nostrolldamus The 2nd

    Better to be a rogue then than part of your “community of nations” and be a slave.

    Dec 04th, 2012 - 04:06 pm - Link - Report abuse 0
  • yankeeboy

    Well no Hobbit for Argentina... Moreno won't let them import the new projectors.

    Falling further and further behind...maybe they can go to Paraguay or Bolivia to watch it.

    Bahahhahhaaaa

    losers

    Dec 04th, 2012 - 04:12 pm - Link - Report abuse 0
  • Shed-time

    So in essence what you're saying is that in the mind of argentines it is better to be a pathologically opportunistic criminal than be a part of a brotherly group of coexisting nations, respecting one another and working together for one another's benefit.

    That says a lot.

    Dec 04th, 2012 - 04:13 pm - Link - Report abuse 0
  • Nostrolldamus The 2nd

    @33

    You have it wrong. It reads like this:

    ”So in essence what you're saying is that in the mind of argentines it is better to be a pathologically opportunistic criminal (DISCLAIMER: this is just the ANGLO-SAXON OPINION, we admit it is not a fact), than be a part of a brotherly group of coexisting nations, respecting one another and working together for one another's benefit: to bring Argentina into abject penury and subjugation.“

    Much better.

    I would suggest that you read about Argentina in the 1990s, when we were convinced to be part of the ”brotherly” community. You brotherly nations almost destroyed us. You did not buy ONE of our products and we imported tens of billions of yours. In fact, in 1999 Argentina was the only nation in history that had a confirmed trade deficit with all top 20 of its trading partners.

    You had your chance to prove yourselves, you almost destroyed us (and you did destroy the lives of millions of Argentines that lost their jobs by the cheap imports). It was also in the period that all of our “brotherly” brothers devalued their currencies (From Mexico, to Brazil, to Chile, to Thailand, South Korea, Russia, Indonesia, Turkey, etc, etc...).

    And we were also charged the world's highest rates for utilities and gasoline (surprise: they were all under European, American, or South American hands). And while Argentina had wage and price DEFLATION in the late 90s, our rates for electricity, water, gasoline kept going up (because the agreements stated they would raise prices according to American or European inflation). So add the 2-3% inflation in your countries and the -2% deflation in Argentina, and you raised our rates 5-7% during 1999-2002... when we were struggling the worst.

    Read history and you may understand why of the policies of today from our suspition of foreign nations, to our policy on ulitity rates and gas prices, to our complete distrust of trade.

    Do you think the current worldview we have came about in a vacuum??

    Dec 04th, 2012 - 04:21 pm - Link - Report abuse 0
  • Shed-time

    @34 what you're trying to do there is to blame us for your lack of financial and apparent marketing success. That typically works in business and generates a lot of money through pity.

    Dec 04th, 2012 - 04:26 pm - Link - Report abuse 0
  • ChrisR

    @31 The Child Who Does Not Know Its Name

    And just how old were you when they made you cry that much?

    Last week? I am not surprised!

    LOLs

    Dec 04th, 2012 - 04:27 pm - Link - Report abuse 0
  • LEPRecon

    @34 - Tobias

    The world would be very happy for Argentina to go it alone. Pay back what you owe and the world will quite happily forget Argentina exists.

    Remember this though - the Lone Wolf often starves because it can't get enough food, whereas a Pack of Wolves cooperate in hunting and share the bounty between them and rarely go hunting.

    You call disconnecting yourself from the world 'freedom',and cooperating and interacting with the world 'slavery'. Well a wise man once said:

    “Freedom to starve is no freedom at all.” Sgt Patrick Harper - 95th Rifles.

    So let's agree that Argentina pay back all the money you owe the various people in the world, then you can spend the rest of your lives in isolation.

    Ah the perfect world where we don't have to listen to the Argentine government crying, begging and playing the victim all of the time.

    Yup, Tobias, sink back into the dark ages while the rest of the world moves on through cooperation, sharing of ideas, and international trade.

    I wonder what the other 39,999, 999 Argentines think of your wonderful plan? Probably not happy with it, because they want to interact with others.

    You see, Tobias, stuck in your own little racist world you miss the point of human interaction. To learn from each other, to grow as people, and perhaps most importantly, to understand that people have more similarities than they do differences.

    But carry on festering in your own little racist world, Tobias, where you just become more bitter, twisted and racist. Where you always blame someone else for your failings, rather than getting off your backside and doing something about them.

    Your beloved CFK is destroying Argentina from within, and all you can do is blame everyone else instead of actually doing something that will benefit Argentina.

    It's sad and very pathetic.

    Dec 04th, 2012 - 04:37 pm - Link - Report abuse 0
  • ptolemy

    @34
    “Do you think the current worldview we have came about in a vacuum??”
    YES, the vacuum in your head.

    Dec 04th, 2012 - 04:49 pm - Link - Report abuse 0
  • Troy Tempest

    @31 Nozzy

    “Better to be a rogue then than part of your “community of nations” and be a slave.”

    But, you ARE slaves NOW - to CFK!!

    Dec 04th, 2012 - 04:54 pm - Link - Report abuse 0
  • Simon68

    34 Nostrolldamus The 2nd (#)
    Dec 04th, 2012 - 04:21 pm

    “So add the 2-3% inflation in your countries and the -2% deflation in Argentina...”

    Errrm, Tobias, during that period the ARS$ was 1:1 with the US$, so it was subject to the same inflation as the US$, there was no deflation of the ARS$!!!!!

    Dec 04th, 2012 - 05:00 pm - Link - Report abuse 0
  • Conqueror

    @2 Of course not. argieland's central bank will “lend” money to CFK. So say “Goodbye” to that. Debts are never repaid. CFK will do the Swiss bank deposit herself.
    @25 That's not a word.
    @28 “Rogue state is a term applied by some international theorists to states they consider threatening to the world's peace. This means meeting certain criteria, such as being ruled by authoritarian regimes that severely restrict human rights, sponsor terrorism, and seek to proliferate weapons of mass destruction.” Seems to pretty much cover argieland. Especially the prophet P-H.
    @31 Aaah, yes. But soon you're going to be a pariah state as well!
    @34 But you're stupid. Have you taken that into account?

    Dec 04th, 2012 - 05:03 pm - Link - Report abuse 0
  • Captain Poppy

    #31 titti boi....you feel as a slave in the “community of nations” for one reason only......you want respect and authority from the community without ever have earned it. Like a spoiled little child, they all want prestige, power and respect without ever going through the process of earning it. Argentina .........always looking for a quick “get rich” quick scheme.

    Dec 04th, 2012 - 05:06 pm - Link - Report abuse 0
  • Pirat-Hunter

    #9 cynic, CFK is the best president Argentina had in 50 years and she might be the very best Argentina has at the moment, I am sure you rather pay EU, USA or IMF then to your own national bank, as I am also sure you would rather have menem a military or a dictator before someone like CFK as president of Argentina, maybe you should ask other Argentine what they think of CFK and her polices, just don't forget to mention your candidate to replace CFK. Lol good luck with that! Chances are you will come up with 100 personal insults before a name is drawn out of your skull, I bid you 100$ dollars that the economic hole you mention will never be as big as the IMF theft of our revenues or the job menem pulled to collapse Argentina in 2001.
    #10 you are funny some of us seen the devaluation way back when the banks in USA almost went belly up, but it didn't end there GM and ford got to feel it too. We already had our devaluation in Argentina back in 2001 as Haiti did the same year both did with the help of IMF dictatorship, some analyst and researchers believe that the demonstrations are scripted into the IMF policy.
    #12 I work for a living and pay more taxes in Canada then any Argentine will ever pay in all their generations. And no I don't use computers I have an Acer iconica500 pad and a blackberry pad, both payed for in cash since I don't use credit cards, I guess you can now throw your misconception of CFK followers and try to build a new one with real facts. All the menem cheer leader talk as you do, I am not in Argentina because its occupied by Brits, when they go back to UK I will be going back home too, mean time enjoy your occupied country.
    #13 you are right I am 100% American unlike the euro trash here I might be the only one from this side of the planet. Too bad europids don't get used to the idea that there are others in this planet. Lol they might all need to go back home ASAP, keep it up!

    Dec 04th, 2012 - 05:25 pm - Link - Report abuse 0
  • yankeeboy

    Toby, You keep coming back that Argentinians are not smart enough to have relations with the North.
    I think you are right
    BTW everything probably would have worked out well in the 90s if Memem didn't give away suitcases full of U$ every Friday to his cronies. AND followed the IMF's plan, worked prettty well in Brazil and Chile...didn't it? Well they're smarter and a bit less corrupt than Rgs.
    How many U$B do you think he has stashed away?
    Until you rout out the corruption you will continue to get poorer every year.
    You need to find a Pinochet to fix Argentina's problems once and for all

    I hope you are stocking up on Sugar and Laundry detergent. It is going to come in very handy shortly.

    Dec 04th, 2012 - 05:30 pm - Link - Report abuse 0
  • Raven

    @40 Simon68

    I feel sorry that you have delusionists both in and supporting the Government. You and your fellow countrymen and going to be suffering greatly due to the deranged president, who seems hell bent on taking Argentina into the dark ages. When to all outside observers, it seems Argentina could be set up to be an equal to Brazil or even surpass them. Natural inland resources of oil and gas, sunshine aplenty to benefit use of solar power, the South Atlantic to fish from, vast plains on which to both feed itself and export surplus to other continents.

    Yet the mad incumbent and her mad as hatter supporters seem quite happy to see the place in ruins and always laying the problems as being a result of an outside influence. Baffling! The chance to be a real world player with money, influence and the clout to ensure fair play amongst world nations and yet TMBOA just wants to squeam and squeam about things instead of getting on with the job she should. But that is her ploy really, squeam and squeam to divert attention away from her luxurious life away from politics whilst those she purported to serve suffer for her personal greed and gratification.

    @Nostroll
    You said in another post that you would stop attacking the ''anglo-saxon'' element of posters when they stop attacking Argentina. News flash, we don't hate Argentina (aside from 1 or 2 on here, but there is always a small core of loonies no matter where you look). We attack TMBOA and her entourage, who have quite successfully been pissing off the rest of the world with their lunatic policies against everyone who do not line the Argentine politicos pockets. Take the horse blinkers off would you.

    Dec 04th, 2012 - 05:30 pm - Link - Report abuse 0
  • reality check

    @43
    PH, call me nieve, but I thought most REAL Canadians, consider themself to be Canadian not American. You of course mean that you are 100% South American. Easy mistake to make!

    Dec 04th, 2012 - 05:37 pm - Link - Report abuse 0
  • Raven

    @43 PH

    If CFK is the best Argentine politician to lead the country, then you'd best get some serious protests in against the whole political establishment. Then start actually voting for people who ACTUALLY have the peoples best interests at heart. I agree the country has been shafted from pillar to post for decades, it's long overdue for someone to take the presidency and use it to help the country and not their personal bank balance.

    Dec 04th, 2012 - 05:45 pm - Link - Report abuse 0
  • agent999

    @45
    Nostrolldamus The 2nd uses “attacking the ''anglo-saxon'' element of posters when they stop attacking Argentina” as an excuse, a person of intelligence does not have to lower oneself to present a valid argument.

    Dec 04th, 2012 - 06:28 pm - Link - Report abuse 0
  • Pirat-Hunter

    If anyone can read the lies the english foreigners repeat about Argentina I am sure we will all agree that Argentina is better of with CFK and the foreigners are better off in Afghanistan, Iraq, Libya and Syria. So why not talk about the beautifully examples the english set for us in those nations, o wait maybe the CIA or MI4 can provide us with weapons to kill each other as they do there, let's ask them! To help us rather then getting in our way as usual.
    http://www.gregpalast.com/the-globalizer-who-came-in-from-the-cold/
    #14 you know there are a lot of white pedophiles who travel to mexico , Cuba, Colombia and many other poor countries to exploit child prostitution, they are treated better then new comers at the airports, lol your world not mine. Argentine can't afford them I am sure, about you fix your problems first before looking at the stick in my eye.
    Tell us about the drug mules did they sell their drugs for pesos or dollars was it CFK and the Argentine national bank forcing them to be mules or was it the good old dollar and the silent US banker? Think damn it think! I will always support national over foreign, that way we can be responsible for our actions as it is now we are being blamed for IMF, UK and US theft of resources.
    #15 so the UK and USA depend on climate change and boodo magic to attack Argentina, I guess nothing else is working, we could use a drop in soy supply to increase the price since the gas is expensive and there isn't enough to go around, it could be a blessing to ship less soy for more money. We shall wait and see.
    #16 pathological larceny is what's going on in Afghanistan, Iraq, Libya and Syria now, we know UK and USA well enough to see them for whom they are. Try keeping your eyes and ears wide open for a change.
    #17 weather, magic and now cheer leading is the weapons of choice to take down CFK lol Argetines around the world love and support CFK 100%
    #20 we are paving the way for our debt to be payed in pesos. Beware of what u ask.

    Dec 04th, 2012 - 06:31 pm - Link - Report abuse 0
  • Troy Tempest

    @49 Alex Vargas PH
    I see you're a big fan of Greg Palast - and you have his fan-boy site on your FaceBook!!

    What is all this pedophile business you talk about??

    If pedophiles need to travel to Argentina to abuse children, it's because THEY ARE NOT ALLOWED TO IN THEIR OWN COUNTRIES.
    However, in Argentina, these same pedophiles are welcomed as a source of $$$ by parents, Uncles. Aunts, who are only to happy to sell their own children as sex slaves! The local police do 't seem to interfere, they must get some of the profits.

    What a sick society

    Dec 04th, 2012 - 06:54 pm - Link - Report abuse 0
  • ptolemy

    @49
    Are you saying you want to pay your debt in pesos? Is that the Govt. official rate or the given rate for the pesos outside of the country (blue rate?) Until inflation in Argentina is under control, no wants the pesos.

    Dec 04th, 2012 - 06:57 pm - Link - Report abuse 0
  • Captain Poppy

    #49 Is pathological you new word. gregpalast has a cult following and apparently you are his strongest supporter. cristina “the cunt” kirchner is taking herself down with her nazi adulation

    Dec 04th, 2012 - 07:01 pm - Link - Report abuse 0
  • briton

    We think you will find,
    Any pesos over 20 is illegal,
    Only dollars welcome.
    .

    Dec 04th, 2012 - 07:28 pm - Link - Report abuse 0
  • Troy Tempest

    @49 PH ALEX

    As to Drug Mules - who is more morally corrupt, the ones using drugs or those making a business out of it and profiting on others misery??
    What happens to those drug mules, pawns to organised crime who are paid little and exploited so SA drug dealers make money - using children to transport drugs before selling them into the sex trade. SA farmers are forced to stop growing food in favour of a “cash crop” for SA drug lords.

    Our government attempts to stop supplies getting through, but it is an industry in South America. Sick society!

    Dec 04th, 2012 - 07:39 pm - Link - Report abuse 0
  • Shed-time

    hasn't she run out of places to steal money from yet?

    Dec 04th, 2012 - 10:26 pm - Link - Report abuse 0
  • LEPRecon

    @55 Shed-time

    Probably. There can't be many sources of money left, short of going out and mugging people on the streets.

    Dec 04th, 2012 - 11:36 pm - Link - Report abuse 0
  • Raven

    @55

    She must have gone down on Hugo and shown him a good time enough for Venezuala to stump up $3billion to pay Argentinas debt to the IMF earlier this year, so I'm sure she could do him again, then there is the rest of the continent she could hand out blow jobs to under the meeting table to gain a few more $
    She'll carry on screwing until 2015, when she'll become Hugos bitch exclusively when she inevitably leaves Argentina after leaving office.
    Christina. The highest paid courtesan of South America.

    Dec 04th, 2012 - 11:40 pm - Link - Report abuse 0
  • KFC de Pollo

    @2 “Well done CFK Argentina's national bank will not take Argentina's tax revenues to another country or deposit it in a swiss bank. IMF can kiss their scams goodbye. We love you CFK keep up the good work. About an Argentine gold coins to prevent Inflation.”

    The bank may not be taking the money to a swiss bank account but Cristina certainly is! Just how did someone who never got her law degree manage to become a multimillionaire in such a short period of time?

    Dec 05th, 2012 - 12:00 am - Link - Report abuse 0
  • Pirat-Hunter

    #51 if pesos is all we have that will have to do, we can give you credits or Argentine finished goods but I doubt you'll like that. With the dollar out of the way we can get down to real trading goods for goods. Free market as intended.
    #52 CFK is the best president Argentina had in 50 years and we Argentine support her 100% from all over the world, have some respect or is that how a british pedophiles treats his mother? Sorry I forgot who you are don't answer that. Stalking any child today? Am watching u!
    #53 when all there is is pesos, I pods, blackberries, cocacola and GM will decline while the demand for meat, bread and milk will continue to grow.
    #54 no matter what excuse you think you have to be a pedophiles don't count with my support. Just talk to your good buddy #52 Or any british here since they are all alike. I hear the Mexican are finally using the guns USA gives them to shot american retards. I know all about the drug cartel it should be a legitimate busyness, and it will be soon enough. We hope to send you as much drug as you can handle while we save the kid mules bringing your next fix. I got an idea stop sending them dollars and reward them for snitching on the drug lords.
    #55 you hate the queen of England that much? “The cunt” I hear someone say earlier.

    Dec 05th, 2012 - 12:04 am - Link - Report abuse 0
  • Raven

    @59 PH

    Is that your best attempt at diversion?!

    The only ''Queen'' talked about in Mercopress is the on BK has a cum dribble for every time they show a picture...

    Dec 05th, 2012 - 12:22 am - Link - Report abuse 0
  • Captain Poppy

    pirate hunter....Canadians are a pretty good people, you are stinking them up.....go back to argentina that you love. If only you had that balls to go there!!! You argentine eunich

    Dec 05th, 2012 - 01:15 am - Link - Report abuse 0
  • Nostrolldamus The 2nd

    @35

    Call it what you will. You obviously just like all the others here have no intention of keeping an open mind. Then you accuse us argies of being closed minded.

    You are quite frankly a detestable bunch of people here.

    Dec 05th, 2012 - 01:48 am - Link - Report abuse 0
  • Pirat-Hunter

    #61 are the illegal aliens occupying islas Malvinas Argentina going back to UK? Why would I go back to an occupied Argentina. I do like to feel safe and when Argentina gets a nuclear defence program or the Brits go back to UK I will happily go back home, until then you should get used to the status quo. Or come see me i'll rearrange your dental fixtures, there is nothing I love more then brinding justice to all pedophiles alike, starting with those who like to stalk people.
    #62 you are right we are but a good nuclear defence program 100% made in Argentina will bring everyone back to their Senses cowards are silly, think skull but not as stupid as they seem.

    We Argentine love CFK and support her 150% and much rather pay the Argentine national bank then IMF, USA or UK.
    This link is the reason why.
    http://www.gregpalast.com/the-globalizer-who-came-in-from-the-cold/

    Dec 05th, 2012 - 02:39 am - Link - Report abuse 0
  • St.John

    @ 34 Nostroll_TTTT

    That post is probably the most false representation of Argentine economic history I have ever read.

    The Argentine government's extreme stupidity self-destructed the country in the 1990s, by keeping the AR$ pegged to the US$ even when the exchange rate for US$ rose world wide, the Arg. government made it virtually impossible to export.

    The present government has been repeating this idiocy.

    Tell us:

    an industrial product, which could be sold in 2004 for 30 AR$ = 10 US$

    what is the price of that same industrial product today in AR$ and in US$ today?
    (hint: 90 and 20)

    How can Argentina compete on the world market, when it's prices in foreign currency double?

    Read Argentine national economic history and you may understand why the policies of today are as destructive as they were in the 1990s.

    Dec 05th, 2012 - 03:47 am - Link - Report abuse 0
  • Shed-time

    @64 It wouldn't be so bad if they didn't blame everyone else for their inability to conduct business. They're the national equivalent of an inept businessman who has royally shafted all his friends, sitting there complaining that no one wants to buy anything from him and blaming them for the experiences he has.

    It's just pathetic.

    Dec 05th, 2012 - 09:20 am - Link - Report abuse 0
  • Captain Poppy

    #83 idiot.....you can't keep your hospitals and subways open or trash off the streets and you think you can afford a nuke......what they hell are you injecting in your bloodstream?

    Dec 05th, 2012 - 10:39 am - Link - Report abuse 0
  • briton

    Poor Capt. pug wash,
    To indoctrinated to go home,

    He loves Canada more than he loves CFK
    So he avoids her like the plague..

    Dec 05th, 2012 - 12:41 pm - Link - Report abuse 0
  • Captain Poppy

    She is the plague

    Dec 05th, 2012 - 01:16 pm - Link - Report abuse 0
  • Nostrolldamus The 2nd

    @64

    You are the paragon of foreign imbecility and why we don't want anything to do with you in Argentina.

    “You” (foreigners) told us to have a strong currency... then you blame us for having a strong currency, that we should have a weaker currency.

    Now we have a deliberately weak currency, you blame us for that, and that we should have a stronger currency.

    So predictable, so lame.

    Dec 05th, 2012 - 03:27 pm - Link - Report abuse 0
  • yankeeboy

    69. Goofball, your currency is now too strong and probably needs to be around 10-13/1 to make you “competitive” for a short time again.

    I hope you are buying sugar because I bet that hag will try and juice the economy with a huge devaluation very shortly.

    She had her hopes pinned on a good Soy crop but since the productive fields are still under water that dream is quickly turning into a nightmare.

    Dec 05th, 2012 - 04:00 pm - Link - Report abuse 0
  • Shed-time

    @69 I thought your country stopped doing what other people wanted and was engaged in constructing some kind of socialist utopia? Can you please be consistent.

    Dec 05th, 2012 - 05:48 pm - Link - Report abuse 0
  • St.John

    @ 69 Nostroll_TTT

    Complete hogwash.

    Argentina was advised to have a strong currency in the early 1990s, but in a changing world one must adjust to the economic environment.

    The Argentine government defended the 1:1 in the late 1990s, when everybody else was devaluating, out of simple orgullo naciónal - national pride.

    Are you claiming that Argentina wasn't a sovereign state, which could not decide to adjust like everybody else?

    We have seen the same happening during the last 4 years.

    The high inflation should induce the government to let the peso value float at a higher rate, but they don't - again out of orgullo naciónal.

    The sane peso value today, caused by Argentine inflation, is at most 6.80 pesos to the US$, but a stupid government is clinging to 4.80 and this makes it hopeless to export industrial products.

    Dec 05th, 2012 - 06:15 pm - Link - Report abuse 0
  • Nostrolldamus The 2nd

    aha!

    My smartie 2nd graders, (@70,72), how can Argentina have an overvalued currency as you yourselves have JUST SAID, and then also claim Colombia overtook Argentina because of Argentina's devaluation??

    If Argentina's products are more expensive now, that must mean they are more expensive in dollar terms... which means the entire ECONOMY is larger in dollar terms on the international market.

    Gotcha.

    Buffoon the lot of you.

    As I said, for the sake of insulting Argentina you can't keep your basic economics reasoning straight.

    Dec 05th, 2012 - 06:43 pm - Link - Report abuse 0
  • St.John

    @ 73 Nostroll_TTT

    If you wanted to expose your complete lack of understanding of national economy, you have succeeded.

    Dec 05th, 2012 - 07:26 pm - Link - Report abuse 0
  • Captain Poppy

    titti boi go back to ttt you are the second grader here on a brillant day.

    Dec 05th, 2012 - 07:31 pm - Link - Report abuse 0
  • Shed-time

    @73 I can see issues within your logic, but I am too lazy to point them out. Instead I will leave you with a vacuous sense of accomplishment, with you knowing fully well that at least one person thinks you're academically deficient.

    Dec 05th, 2012 - 07:49 pm - Link - Report abuse 0
  • St.John

    The point of #64 is that because of a shocking inflation and a correspondingly too high value of the peso, Argentina has to sell for US$ 20 while the competitors can sell the same article for US$ 12 or 13 - go figure it out.

    Dec 05th, 2012 - 08:05 pm - Link - Report abuse 0
  • yankeeboy

    I guess since Zimbabwe has I trillion notes in circulation they are the richest of all.
    Gosh you are stupid Toby.

    Dec 05th, 2012 - 09:58 pm - Link - Report abuse 0
  • Nostrolldamus The 2nd

    LOL, this is fascinating insight into the follies of humanity. Here we have FOUR “contributors” that make it resoundingly and univocally clear that my reasoning is “flawed”... yet not ONE of the four can even come up with an argument to back up their jactitations.

    Once again, a didactic aperçu into the caliginous depts of plutonian impotence and jealousy.

    Dec 06th, 2012 - 12:34 am - Link - Report abuse 0
  • Captain Poppy

    Titti boi......did you join la campora for the esprit de corps?...in search of self esteem? You should have tried the military....oops, forgot you don't have a military.

    Dec 06th, 2012 - 11:19 am - Link - Report abuse 0
  • St.John

    @ 79 Nostroll_TTT
    “yet not ONE of the four can even come up with an argument to back up their” claims'

    You obviously confuse your lack of understanding the arguments with lacking arguments.

    Dec 06th, 2012 - 02:10 pm - Link - Report abuse 0
  • Captain Poppy

    St John what utube, wikipedia, greg somethingg-the conspiracy theorist.....these are not prove for you? lol
    They make a statement and support it with junk

    Dec 06th, 2012 - 03:40 pm - Link - Report abuse 0

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