MercoPress. South Atlantic News Agency
Uruguay Vice-president and Latam UN ambassadors claim US justice took sides
Latin American ambassadors to the United Nations (UN) and Uruguay's Vice-president Danilo Astori showed their support to Argentina in its dispute against holdout hedge funds. They agreed that the so-called 'vulture funds' are a risk to debtor nations and that they pose a threat to the region. Read full article
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Disclaimer & comment rulesBolivia, Cuba, Venezuela and Ecuador expressed their support....what a surprise !
Jul 07th, 2014 - 09:06 am - Link - Report abuse 0Another Latam leader ignorant to the concept that the federal law and state law is separate in the US.
Jul 07th, 2014 - 09:13 am - Link - Report abuse 0The state law of NY should never concede to international politics. Argentina.....next bond issue underwrite and sell in BA and see how far that camel carries you.
world corruption list 2013
Jul 07th, 2014 - 09:53 am - Link - Report abuse 063 Cuba
102 Ecuador
106 Bolivia (and Argentina)
160 Venezuela
Spoken like a good little Socialist. If you make a bad deal, cry like a victim and all the while stealing more than you can ever use. Other countries have different terms in their debt instruments and were able to sell it to the holders because they were more trust worthy with the repayment. Argentina sold what bonds it could at the time and the terms said what they said. Become trust worthy and you can sell tougher terms. I know this rates up there with brain surgery to the average Argentine so as I said. Default is a given. The peso will go to 20 to 1, where it belongs.
Jul 07th, 2014 - 10:08 am - Link - Report abuse 0@4
Jul 07th, 2014 - 10:17 am - Link - Report abuse 0We're not talking economics here, we're talking argienomics. Argienomics is the practice of robbing Peter, underpaying Paul,,pocketing the skim, expecting to get away with it, and squealing to your mates when you don't.
It was also about time somebody uttered the “S” word, which is really the “I” word, since sovereignity actually means impunity in Latin Ameica.
But you can't expect gringos to know any better.
It really amazes me that all these LATAM polititians have had the time and intelligence to understand the legal gobbledegook that is usually written in the issuance of the bonds. I would question their integrity.
Jul 07th, 2014 - 10:30 am - Link - Report abuse 0Actually nations does not have a sovereign right to steal other peoples money when they feel like it. I would agree that these so called “vulture funds” could become a problem to honest nations in deep financial trouble but, like their avian relations, they also serve an important function in the global economy in making sure even places like Argieland doesn't default without consequences.
Jul 07th, 2014 - 11:23 am - Link - Report abuse 0All the losers always rally around each other.
Jul 07th, 2014 - 12:02 pm - Link - Report abuse 0Nobody cares but themselves.
Astori is a crook himself and has stolen from me as a taxpayer in Uruguay.
Jul 07th, 2014 - 12:42 pm - Link - Report abuse 0He and the other numb-nuts think they are so clever when in reality they are as thick as pig shit and ten times more pungent.
But, heh, it’s SA: what do you expect?
So that’s alright then, no? [you can see my Espanol is getting better!]
Just a little digression here as the focus is on the default. Seems Correa is about to become “El Presidente Para Siempre”
Jul 07th, 2014 - 01:01 pm - Link - Report abuse 0http://news.yahoo.com/ecuador-lawmakers-propose-unlimited-presidential-terms-005542848.html
Seems like real democracy in action.
If you sign on to any international agreements, then you have already given
Jul 07th, 2014 - 02:21 pm - Link - Report abuse 0up some of your sovereignty. “Soft treaties” evolve into “hard treaties” that
become “law-of-the-land” and then they worm their way into your federal
regulatory system. You should be more concerned about regulated systems
that gain the authority to confiscate citizen wealth. Do not forget, in the not
too distant past, the ECB, IMF and partners swooped down and stuck their
talons in Cypress. That is what I call a vulture fund on steroids.
That sets the stage for the global community.
What can we expect in the future? --- bail ins not bail outs.
http://www.openeyesopinion.com
Example of Argentine ethics.
Jul 07th, 2014 - 03:07 pm - Link - Report abuse 02 Argentine guys, Peter and Paul, are equal partners in a business. A customer buys something and by mistake inadvertently overpays Peter who knowingly pockets the overpayment. Issue: Will Peter tell Paul about the windfall overpayment .
@11 - Answer, no. Most likley, Peter will tell Paul that the customer underpaid, that this has ben written off as a bad debt and that is it Paul's fault. Peter will then claim part of Paul's equity share in the business as his own to make up for this bed debt, thus giving him a controling share in the future...
Jul 07th, 2014 - 03:17 pm - Link - Report abuse 0Well, well, well, doesn't that make Bolivia, Cuba, Ecuador, Venezuela, Uruguay “rogue” along with argieland? There might be a small excuse for Llorente Solis. She is, after all, female. I do wonder how she justifies a single foreign “State's” right to ride roughshod over the rights of thousands of ordinary people. Perhaps she could explain how stealing 70-75% of people's money is, in any way, other than “perverse”. Or perhaps Bolivia does the same? As for Moncada and Gonzalez, they are just fatuous. Moncada says “the entire U.S. judicial system took sides with the speculators”. But it was only the New York judicial system. And it seems to have “taken sides” with the law. The “law” that argieland selected. Gonzalez was, if possible, even more stupid. Who selected the relevant law? Therefore NY law has jurisdiction. Perhaps he'd like to select the “bought and paid for” judicial system that should try a case? Astori is, of course, an imbecile. Where does he get to absolutely reject the Supreme Court position? Here's a thought. Astori is set upon. He is beaten with steel bars to within a millimetre of his life. At court, 2,000 people come forward to say that the accused were with them at the relevant time. Thousands more are outside the courtroom ready to say the same thing. The verdict is based on the “overwhelming majority”. Should we blame these ambassadorial civil servants? Are they just saying what they've been told to say? Kidnap them. Take them away to a secret location and put them in a bare cell. Let them hear the gas hissing in. Ask them whether they support argieland. Record their responses from CCTV. Of course the only “gas” is air and smoke. What would they say when they are about to meet their Maker? Mind you, being latams, their “Maker” has horns, cloven hooves for feet, a forked tail and carries a pitchfork!
Jul 07th, 2014 - 03:28 pm - Link - Report abuse 0The intent of this announcement is to further stall and try and remove the US judiciary from the decision making, in favour of the IJC. This allows more stalling, and more deflection of accountability. But what happens then ?
Jul 07th, 2014 - 03:36 pm - Link - Report abuse 0As we have seen with Venezuela and the ICJ, when a case decision goes against them, they just withdraw themselves from that jurisdiction and refuse to pay.
“ We aren't members any more, so that decision against us no longer applies to us. So we aren't paying ”
Like term limits as Capitan Poppy mentions up thread, the new governments clinging to power for as long as they can are another sign of immature countries, with immature financial advisors using whatever weak device they can, taking those countries downwards, rather than forward.
Not ready to be part of the international community.
These four having a pop at the US judicial system, bit like the KKK criticising the American Civil Rights movement.
Jul 07th, 2014 - 04:36 pm - Link - Report abuse 0Exactly right BOTINHO. They start by taking the judiciary claiming it is corrupt, then drive out private media, afterall.....information is dangerous, then the never ending el presidente'. What remains? An elected dictator. Then they cry foul when an independent judicial servant makes a decision based on one of fifty sovereign state's law. What is the foul? That politicians do not control the judiciary in a re democracy.
Jul 07th, 2014 - 05:49 pm - Link - Report abuse 0In a nutshell ???????
Jul 07th, 2014 - 06:25 pm - Link - Report abuse 0THEY , don't want to pay....
In the mean time:
Jul 07th, 2014 - 07:44 pm - Link - Report abuse 0“ Argentina is now in technical default on the interest payment, but has a 30 day grace period to resolve the impasse.
” If Argentina fails to pay the interest on the bonds by July 30, the “technical default ” becomes an “ event of default, ” says international lawyer Russ Dallen, who heads Caracas Capital Markets.
“ Under the terms of the Restructured Bond contract, that means that all $30 Billion of Argentina's restructured debt can become immediately Due and Payable.”
So,
Jul 07th, 2014 - 09:40 pm - Link - Report abuse 0”Ambassadors to the UN Sacha Llorente Solis (Bolivia), Oscar Leon Gonzalez (Cuba), Xavier Lasso Mendoza (Ecuador) y Samuel Moncada (Venezuela) expressed their support for Argentina in a joint interview with local press.”
The usual suspects line up for the local not global press.
Socialism: Spending other people's money since 1917.
Wankers!
Still no shower gel, milk or toilet roll in Venezuela. Still a murder every 21 minutes.
Yup, on average, every 21 minutes someone in Venezuela dies a violent, unwelcome death and this prick Moncada is on holiday, trying to play the big guy. Scum.
Slightly off topic, but an insight I hope:
A little bit of Neopotism in Vzla?
Ramírez Family
Engineer Rafael Ramírez is the director of the state oil company PDVSA and minister of Energy as well as Economy Minister. His wife, Beatriz Sansó Rondón de Ramírez, is active at a legal company working for PDVSA. Hildegard Sansó, Beatriz's mother, is also a legal advisor of PDVSA. Her son, Baldó Sansó, is another advisor to PDVSA. Diego Salazar Carreño, a contractor for PDVSA, is Rafael's godchild. Salazar comes from a family of ex guerrilleros, (criminals, gangsters & murderers). Eglis Ramírez, Rafael's uncle, was president of PDVSA Agrícola until 2012, when he was sacked. PDVSA Agrícola had received millions upon millions (of US$)and had nothing to show for it.
Ameliach Family
Francisco Ameliach, the former coup-monger and military who is now governor of Carabobo, has appointed his brother Saúl as “Sole Authority of Carabobo” (yes, that's the title!). Saúl is also director of state company PEQUIVEN (oil).
Rangel Family
José Vicente Rangel, former vice-president and minister, now working as a “journalist”, has a son, José Vicente Junior, working as vice-minister for Interior
Chávez Family
The son-in-law of the late caudillo Chávez, Jorge Arreaza, is vice-president. Chávez's oldest brother is still governor of Barinas whereas Argenis Chávez, another brother,
(need a second post..)
@ 19 BOTINHO
Jul 07th, 2014 - 09:44 pm - Link - Report abuse 0”“ Under the terms of the Restructured Bond contract, that means that all $30 Billion of Argentina's restructured debt can become immediately Due and Payable.”
At that point I am sure things in The Dark Country are going to get very interesting, shall we say?
No money, no brains, no chance!
Ha, ha, ha.
It will be interesting Chris.
Jul 08th, 2014 - 12:34 am - Link - Report abuse 0@10, 20
Jul 08th, 2014 - 01:29 am - Link - Report abuse 0You are right, of course. That is the kind of “democracy” that people eventually get tired of and start looking for alternatives, more or less forgetting all the evils and abuses that the last dictator heaped upon them.
The people in these countries voted for them. Somehow the voters aren't smart enough to realize that when these greedy, arrogant politicians promise all these subsidies it has to be paid for somehow.
These guys get elected, start printing massive amounts of pesos to dole out to the people, and everyone is happy with them for a few years until all that peso printing catches up with them and it all comes crashing down.
In Argentina they kicked it up a notch by faking inflation data and instituting massive price controls. That allowed them to keep the charade going a few years longer, but the eventual crash will be so much harder...
Nepotism in Vzla cont...
Jul 08th, 2014 - 06:30 am - Link - Report abuse 0Chávez Family
The son-in-law of the late caudillo Chávez, Jorge Arreaza, is vice-president. Chávez's oldest brother is still governor of Barinas whereas Argenis Chávez, another brother, is supervisor of Venezuela's judges. Asdrubal Chávez, another one of the brothers, is vice-president of PDVSA.
(If you want to see how the daughters and other family are shopping in NY & Paris, buying designer goods, just Google it!! That’s a whole new topic...)
Rodríguez Gómez Family
Jorge Jesús Rodríguez Gómez, Mayor of Libertador, is the brother of Delcy Eloína Rodríguez, current Minister of Communication.
Maduro and Flores Families
Now let's go with Maduro himself. Nicolás Maduro's 23-year old son is the Coordinator of the School of Cinema. He has no studies and no experience. He is already “head of body of inspectors”. Nicolás Maduro's wife, Cilia Flores, is also deputy at the National Assembly. One of her nephews, Carlos Erick Malpica Flores, is the Treasurer of the Nation. Another one, Walter Gavidia Flores, is Titular Judge even though he is just 27 and the vast majority of judges in Venezuela work with a temporary contract. Hermes Flores, Numidia Flores, Cristian Flores, Demetrio Flores and Vladimir Flores, all family, are new employees of the National Assembly.
Cabello Family
Diosdado Cabello, former military coup monger, is the President of the National Assembly, (and holds a military post, which is illegal under the Constitution to have both!), and is one of the most powerful men in Venezuela. His wife, Marleny Contrera, was appointed to work at the SENIAT (tax agency). Marlene's, (his wife), brother Ernesto was appointed as Manager Director at SENIAT. José David Cabello, the brother(!), is not only a Minister but also Head of the SENIAT and HIS WIFE is “President of the SENIAT Foundation”.
All very cosy, dontcha think?
To be continued...
@
Jul 08th, 2014 - 07:34 pm - Link - Report abuse 0@23 “The people in these countries voted for them. Somehow the voters aren't smart enough to realize that when these greedy, arrogant politicians promise all these subsidies it has to be paid for somehow. ”
Jul 09th, 2014 - 07:53 pm - Link - Report abuse 0It's not that they don't realize, it's that they don't care as long as someone else (the middle class, the rich, foreigners, etc) pay for it, and if the gov't bankrupts the country, it's the government's fault. The middle class voters don't even care if the economy crashes down, as long as they aren't affected by it and can enjoy their TV and new car they bought with gov't subsidized credit.
@26
Jul 09th, 2014 - 08:42 pm - Link - Report abuse 0Hmmm.... I kinda of agree, but only because this is so ingrained in the culture. On the other hand I know plenty of middle and working class Venezuelans who would genuinely like to live an European lifestyle, and participate and contribute. However, at home in Venezuela, they just despair and accept day to day corruption as a fact of life.
Sad.
Great show of support but they have no idea what they are talking about. US courts don't “take sides” the rule of law prevails.....
Jul 09th, 2014 - 09:33 pm - Link - Report abuse 0Losing in court means your position isn't supported by law not that there is something sinister happening...
Ola Ilsen -
Jul 09th, 2014 - 11:42 pm - Link - Report abuse 0I agree with your comments about Venezuela, and sincerely sympathize with your own personal experience there. I do hope you can extricate your family somehow, someday soon.
But I do think that most Latin Americans today in 2014 would agree that they would like to live a BETTER lifestyle, and be allowed to participate and contribute.
A European lifestyle, although admirable, is not necessarily one of our goals. There are features of the EU, specifically regarding Germany's dominance of the EU, that many of us find wrong, distasteful, and want no part of.
Better, safer living conditions, with less corrupt, less familial nepotism, with stable currencies, and responsible economic policies, we can all agree upon.
I agree with you Botinho
Jul 10th, 2014 - 07:55 am - Link - Report abuse 0@27 yes there are plenty of Argentinians who would love an European lifestyle, but they won't work any harder than they already do to achieve it, the people want the gov't to give the European lifestyle to them.
Jul 12th, 2014 - 08:53 pm - Link - Report abuse 0It's kind of hypocritical of Uruguay to criticise US justice. Latin American countries constantly ignore justice or the facts when it comes to showing “solidarity” with other Latin American countries. There is some sort of “gag reflex” which makes the Uruguay govt feel the need to say something in support of Argentina no matter what Argentina has said or done. I bet that if Argentina did something as reprehensible as reintroducing slavery or started executing nuns again that Uruguay would release a statement saying something positive about it.
Jul 13th, 2014 - 08:48 am - Link - Report abuse 0It's a ridiculous behaviour and its's demeaning to the people of Uruguay.
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