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Argentina claims Griesa is blocking bondholders money and using 'vulture funds' language

Wednesday, July 23rd 2014 - 06:51 UTC
Full article 101 comments

Argentina reacted strongly to Tuesday's events in the New York federal court which denied its stay request, claiming Judge Thomas Griesa “did not solve absolutely any of the issues for which he summoned today's audience”, insisting with his “unbelievable ban” on structured bonds' collecting their payment. Read full article

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  • BOTINHO

    What amazing juvenile tantrums.

    The look on the face of these two in the photo is priceless. “ Indignant. ”

    They have the ability to take out news articles, the government has China and others offering Billions of $ USD in loans, yet they persist in the stalling excuses.

    Just children with no intention of repaying those that helped Argentina 12 years ago, and only want to be paid fairly. So they will hold their breath, kick on the floor, and watch Argentina default.

    Jul 23rd, 2014 - 07:29 am - Link - Report abuse 0
  • Leiard

    Why do the even bother going to court, they will never follow any judgement that is not in their favour.

    As some one else commented - “there are none so blind as those who will not see!”

    Jul 23rd, 2014 - 07:58 am - Link - Report abuse 0
  • willi1

    poor argentina!
    who has that idiotic “leaders” needs no more enemies.

    Jul 23rd, 2014 - 09:19 am - Link - Report abuse 0
  • Conqueror

    It's quite funny really. As argieland twists and turns trying to find a way out of Judge Griesa's order that they pay the holdouts at the same time as the restructures. http://www.buenosairesherald.com/article/165238/us-judge-griesa-rejects-stay-request-argentine-lawyers-say-deal-not-possible-by-july-30-without-it It's quite easy really. Argieland, who says it is willing to pay 100%, deposits enough money with the Bank of New York Mellon to pay the holdouts. A little over US$2 billion. Then the bank can pay everyone. The RUFO clause doesn't apply. Because it relates to “Future Offers”. There's no “Future Offer”, argieland would be complying with a court order. The argie “government” is so dumb. It might be able to get away with such things in argieland. Where it can tell judges what judgement to issue. Or bring in a new “law” and tell judges to apply it.

    Where exactly is the problem? PAY! PAY! PAY! It only has to be done once.

    But, of course, CFK said she would never pay. And insulted the judge. Not a good idea. And continues to insult the judge.

    Jul 23rd, 2014 - 09:33 am - Link - Report abuse 0
  • Captain Poppy

    I think Elvis should look up the definition of default. It has nothing to doing with ability to act. He also needs to learn that judges are not there to solve problems but rather to apply the rule of law......a foreign concept to kircherites and many Argentines.

    Jul 23rd, 2014 - 10:04 am - Link - Report abuse 0
  • ChrisR

    Griesa is the best friend the Argentine people have got if only they knew it. Only bu defaulting, getting rid of the scum 'ruling' them (a term so beloved by SA presidents) and staring again with a respectable and responsible team will Argentina ever make progress.

    The Peronistas twist the facts and lie through their teeth and all the other orificies they have to appear to be the 'injured party' whilst doing everything they can not to pay the bondholders.

    The edifying spectacle of these two idiots posing to the world as the righful party just confirms the fact that no matter what THEY will never pay.

    I wonder if the Chinese are having second thoughts about the money swap? They ought to.

    Jul 23rd, 2014 - 11:04 am - Link - Report abuse 0
  • british bomber

    It doesn't matter what the American judge says we Europeans have sued the trustees who have been paid. They will pay or else.

    Jul 23rd, 2014 - 11:05 am - Link - Report abuse 0
  • Welsh Wizard

    @7 - they won't. BAML is a US bank and they won't go against a US ruiling. I spoken to the the partner who is advising them the other day. BAML won't risk the wrath of the US justice system...

    Jul 23rd, 2014 - 11:08 am - Link - Report abuse 0
  • Idlehands

    Headline from the BA Herald today:

    “US Judge Griesa rejects stay request, Argentine lawyers say deal not possible by July 30 without it”

    What logic are the using to determine that a deal is not possible by 30th without a stay when the court ruling is the only thing compelling them to act in the first place?

    Jul 23rd, 2014 - 11:15 am - Link - Report abuse 0
  • Trunce!

    How to successfully negotiate with Argentina.

    http://youtu.be/n6XZ-0ns2yA

    Jul 23rd, 2014 - 11:22 am - Link - Report abuse 0
  • Captain Poppy

    One must ask the question:

    How would they know that no deal is possible by the 30th until they actually sit down face to face and negotiate? Unless of course they dictated the terms to the lawyers and anything else is not acceptable.

    Jul 23rd, 2014 - 11:28 am - Link - Report abuse 0
  • british bomber

    @8
    Then bank assets will be seized if the trustees refuse to pay.

    Jul 23rd, 2014 - 11:40 am - Link - Report abuse 0
  • Idlehands

    Is there potential for assets seizures in the US to settle the debt if Argentina chooses to default?

    Jul 23rd, 2014 - 12:10 pm - Link - Report abuse 0
  • yankeeboy

    12. You mean like Singer is? No EU court would ever seize US bank assets over a US court ruling. You are just being stupid.

    13. There are absolutely Arg assets to seize in the USA as worldwide. I am sure they have a few lined up for Aug 1st. already.
    :)

    The childishness of the Ks is sickening. They don't give a fig about the 40MM people that have to live in misery because of their craziness.

    I hope NML makes it impossible for them to import fuel. That's what I would do. Put BA into darkness and cold. Then see how long she can take the civil unrest until she pays.

    Jul 23rd, 2014 - 12:23 pm - Link - Report abuse 0
  • bushpilot

    They're stalling and aren't going to pay.

    NML has to see this. I wonder what moves NML are planning for August 1st.

    Jul 23rd, 2014 - 12:31 pm - Link - Report abuse 0
  • yankeeboy

    15. Argentina has a surprising amount of real estate in the USA that is NOT embassy property. That would be low hanging fruit. It would be pretty quick and easy to get title then thrown out.
    If I were NML my goal would be to harass and embarrass Argentina. Go after assets that will make the lives of the regular people uncomfortable and the lives of the high officials impossible.
    The worse thing you could do to an Rg is embarrass him. What could be more embarrassing than being thrown out of the place where you work.

    If that happens I will go stand in front and watch.
    :)

    Jul 23rd, 2014 - 12:38 pm - Link - Report abuse 0
  • Brit Bob

    The RGs have had enough time to sort this mess out and done nothing but bluff, bluster and use delay tactics. What is already regarded as a pariah state by international money lenders will be sent in another own ward spiral come 30th July. This is another prime example of how not to manage an economy and highlights the utter incompetence of the current RG government.

    Jul 23rd, 2014 - 01:01 pm - Link - Report abuse 0
  • ElaineB

    I still don't understand why the people of Argentina are not holding their government accountable for this mess. It will effect all of their lives, not the lives of the Kirchner oligarchy and their accomplices.

    It could not have been made more plain to CFK and Kicillof that NML will settle for less than 100%. This whole saga has been about making the Argentine government accountable and to face up to their responsibilities. If CFK has not been so gobby they would not be in this mess.

    I am pretty sure that if a government is forced by law to pay up, they are not making voluntary payments.

    Where will they go for money? Russia? Putin is up to his neck in shit. China? Sure they will buy your country at a knocked down price. What future is there for Argentines?

    Jul 23rd, 2014 - 01:21 pm - Link - Report abuse 0
  • ChrisR

    I wonder if there is any argie property or argie money in Uruguay that NML could seize?

    “No Money Pepe” would probably put a block on it anyway; being the ‘good friend’ he is to The Dark Country, the twat.

    Jul 23rd, 2014 - 01:30 pm - Link - Report abuse 0
  • yankeeboy

    19. There's enough assets in EU UK USA and the rest of the civilized world to go after.
    I wouldn't be counting on taking an Aerolinas jet from the USA anytime after August 1st. They may not be able to keep it but they can certainly make it difficult to use.
    Same with Banco Nacion, YPF, ENARSA and probably BCRA.
    I would love for Singer to go after CFKs stolen loot too. Odd they set their “companies” up in NV. That doesn't seem very smart. Although with that much cash they can get to the front of the line for immigration visas. Maybe that was the plan all along.
    Miami is chock full of all kinds of those types.

    Jul 23rd, 2014 - 01:42 pm - Link - Report abuse 0
  • Condorito

    “Fernandez held a five hours meeting with Economy minister Axel Kicillof ”

    The hypnosis must no longer be working.
    I am sure the only thing Axel has to say is, pay the ferking vultures so we can move on.

    CFK is playing a game of chicken where Argentina has so much to lose and the holdouts very little. If we assume she can't be so stupid as to not pay then what she is doing is squeezing every last drop of mediatic value from the occasion.

    Jul 23rd, 2014 - 01:46 pm - Link - Report abuse 0
  • Leiard

    “Instead of getting angry at whomever became the creditor of the debt bond, they should focus their anger on Cristina Kirchner’s administration. Not only do they not want to pay off the debt, they do not even think about the slightest way to lower government spending.”

    http://blog.panampost.com/belen-marty/2014/07/22/lets-not-pay-our-debts-because-i-choose-argentina/

    Jul 23rd, 2014 - 01:47 pm - Link - Report abuse 0
  • MagnusMaster

    @18 the people don't hold accountable the gov't because they hate the vultures and don't want to pay more debt. Also, they want CFK to finish her term.

    Jul 23rd, 2014 - 02:09 pm - Link - Report abuse 0
  • yankeeboy

    23. Your whole country needs to grow up and accept the consequences of their actions.
    I really do hope for total and utter collapse, maybe when BA looks like Caracas the Rgs will finally learn.

    Jul 23rd, 2014 - 02:35 pm - Link - Report abuse 0
  • CabezaDura2

    18.
    Polls have said most people think that it is better to pay the holdouts.

    Jul 23rd, 2014 - 02:46 pm - Link - Report abuse 0
  • Condorito

    @25 CD
    What do the Polls know about it? They should focus their thinking on the implications of what is happening in Ukraine.

    Jul 23rd, 2014 - 03:24 pm - Link - Report abuse 0
  • Leiard

    Argentina could not get the meeting on time.

    http://www.buenosairesherald.com/article/165322/mediator-pollack-delays-argentinavfs-hearing

    Jul 23rd, 2014 - 03:35 pm - Link - Report abuse 0
  • ElaineB

    @27 LOL! I was once going away for the weekend with some Argentine friends and they told me I must be ready at noon as it was a long drive. I called them half an hour before noon to check they were on their way and I woke them up. They were still asleep at 11:30. We eventually hit the road about 4:00 p.m. When I mentioned they were extraordinarily late (to be honest I wanted to tell them to forget it but one friend begged me to go…… literally) they responded with a shrug and 'we are porteños'. I never expected anyone to be on time after that and I was never disappointed. Someone should have mentioned this to the mediator that they wouldn't turn up even though their whole country's future depends on it.

    @23 The 'Vultures' wouldn't be circling if CFK had not killed the economy.

    Jul 23rd, 2014 - 03:50 pm - Link - Report abuse 0
  • ilsen

    @22
    I read that also. I read a lot of her work/panampost.com. Quite informative.

    Jul 23rd, 2014 - 03:58 pm - Link - Report abuse 0
  • golfcronie

    @28
    Manana, but it never comes. ( no spanish keyboard )

    Jul 23rd, 2014 - 04:24 pm - Link - Report abuse 0
  • MagnusMaster

    @24 As far as the people are concerned, they did nothing wrong, it is the gov´t who did wrong and it is the politicians who have to pay, not them. And they will never change their mind, because as far as the people are concerned, they didn´t borrow the money and they didn´t steal it. The only thing the people will ever take responsability for in Argentina is choosing who gets to steal the money every four years and who gets the blame for whatever they sign. Don´t expect anything else, ever.

    @28 yes but the people aren´t holding the gov´t accountable for the whole deal with the holdouts, to most people it is a problem mostly out of our control. Most people don´t care about the holdouts, but about the money the gov´t stole while in power. But since it is the nature of the beast, the people will give the K some slack in the end.

    Jul 23rd, 2014 - 04:42 pm - Link - Report abuse 0
  • CabezaDura2

    29.
    Yep but despite that stupid and disgustingly cheesy advert made by paid by the government “celebrities”, the underline message is whatever the Ks decide to do with the holdout issue they are doing the right thing and anybody that says otherwise is a giveaway sepoy of these vulture funds.

    Jul 23rd, 2014 - 04:48 pm - Link - Report abuse 0
  • ElaineB

    @31 They should be concerned about all the missing money. I also understand that most people, in any country, only tend to get angry when it actually impacts on their life.

    Jul 23rd, 2014 - 04:48 pm - Link - Report abuse 0
  • ilsen

    I think the Ks are far too accustomed to having 'maleable' judges that are appointed 'politically'.

    It is not Griesa's role to 'solve' anything but to apply the law of the land. In the land where the Ks agreed originally that they would abide by.
    Which they are not doing. Blatantly.
    They find it unbelieveable that they are in the wrong in this case.

    Jul 23rd, 2014 - 04:49 pm - Link - Report abuse 0
  • gordo1

    Why does Argentina NEVER accept the blame for its shortcomings? The blame for the present situation can be entirely laid at the door of Argentina.

    Jul 23rd, 2014 - 06:19 pm - Link - Report abuse 0
  • ilsen

    What, exactly, happened to ALL of the borrowed money in the firstplace?

    That is the question the Argentine people should be asking.

    Jul 23rd, 2014 - 06:44 pm - Link - Report abuse 0
  • Briton

    One tends to get the impression, that CFK is playing delaying tactic's until after the election,???

    Jul 23rd, 2014 - 07:11 pm - Link - Report abuse 0
  • Think

    Geeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee.....

    37 bloody comments from 21 individual posters from 7 different nations...
    And not one of them any better than anything my oldest horse could have typed (with his hind legs)...

    Anyhow...
    My boy Kicillof (and Mr. Capitanich) have positively surprised me by keeping the ethical line against the Vultures and Banksters to the very end...
    I'm personally convinced that Argentina will emerge victorious from this latest “Finacial Attack” against her...
    One can only hope that other Nations will soon follow our example by retaking power from the corporations...

    Greetings from Chubut to all the “No Turnips” out there...
    El Think

    Jul 23rd, 2014 - 07:32 pm - Link - Report abuse 0
  • yankeeboy

    38. Since you've never been right about anything in the many years posting here my guess is that predictions will be doomed also.

    Peso is 13/1 anyone else think it will be 20/1 by eoy?

    Vortex is spinning up quite nicely, unions striking, everyone wants ANOTHER pay raise this year, teachers are going to strike...again.

    And our resident idiot thinks all is well
    what a goofball

    Jul 23rd, 2014 - 08:03 pm - Link - Report abuse 0
  • Chicureo

    Well, my old guanaco thinks that the Argentines will continue to complain, wail, protest and stall until well into 2015...
    ...there is always a way to procrastinate this mess as no one other than the vultures and indignant wants this default...
    I personally find this all very entertaining...

    Jul 23rd, 2014 - 08:05 pm - Link - Report abuse 0
  • Conqueror

    @7. Who are these trustees that have been paid? The money is in New York.
    @12. Can't do that. Unless you have the money for many years of litigation.
    @23. They voted for the government and CFK. They ARE responsible.
    @31. Then they are going to learn about suffering, aren't they? They are going to learn that they CAN'T break all the rules and get away with it.

    Thinking back 32 years, the Falkland Islanders did nothing wrong. They were just getting on with their peaceful lives on THEIR Islands. Then an argie fleet appears, invades and occupies. What did they do to deserve that? And “the people” you mention were dancing in the streets. Cheering for Galtieri.

    Until the British came down and showed that there are repercussions. What a pity that Britain didn't continue. They should have sailed into the Rio de la Plata and invaded Buenos Aires. Rampaged around for a few weeks destroying everything in sight. Not forgetting naval bombardment of the Mar del Plata naval base. Sail away leaving everything demolished, sunk, burning. Trouble is, argies didn't really suffer. They should think hard. Because they might do if there's a next time.

    As for the bonds, they are going to suffer there as well. Do “think” European and American bondholder are going to give a toss? They might not have, directly, borrowed the money, but they got the benefit of it. Instead of working and being honest. Spread the word. No-one really cares about argieland or argies. Let them freeze and eat grass. Here's a tip. Find all the money salted away by members of the “government”. Take it. Use it to pay debts. Throw the “government” into prison. Put them into the toughest, filthiest prison to be found. Mould bread and brackish water diet. Schedule a trial for 2020. Tell 'em it might get better if they say where all the money is. Fingers crossed they'll all die before the trial date. Burn 'em and scatter the ashes at sea.

    Jul 23rd, 2014 - 08:06 pm - Link - Report abuse 0
  • redp0ll

    Oooooh Think. So Patagonian horses (asses too?) type with thier back legs? The logical conclusión is that thats where their brains are located?
    Is their gait also arsey versy and so advance by going backward?
    So saddle up Think. That way you can go backwards into the sunset future.

    Jul 23rd, 2014 - 08:14 pm - Link - Report abuse 0
  • ilsen

    @38
    From 7 different nations eh?

    How do you know this?

    Hmmm....

    Jul 23rd, 2014 - 08:14 pm - Link - Report abuse 0
  • Be serious

    After Argentina defaults.....again.....the people will be eating horse, hind legs and all.

    Jul 23rd, 2014 - 08:15 pm - Link - Report abuse 0
  • Jmackiej

    Tick Tock , Tick Tock as a fellow poster would say.
    Can we all join together in this, the final countdown to CFKs presidency.

    Jul 23rd, 2014 - 08:25 pm - Link - Report abuse 0
  • redp0ll

    @43 Ilsen, well you may say Hmmmm. Think knows who all the posters on this site are up to the point that he even knows the name of Celias labrador in Port Stanley
    And he didnt pick up the info over a pint in the British Legion bar in Dover.

    Jul 23rd, 2014 - 08:31 pm - Link - Report abuse 0
  • The Voice

    Ah, my good friend Mr Think. I thought you pensioned off that old nag when you retired from your milk round? I didnt know Dobbin could type either? Your round tonight, Castros cut off my allowance… they are getting worried about paying for the gas?

    Jul 23rd, 2014 - 08:33 pm - Link - Report abuse 0
  • yankeeboy

    I hear Soy is below $400!!!
    Rut Ro
    That's U$2B+ less than they estimated would come in
    On top of having barely any cars being exported
    and the U$ of oil going up
    What is one to do?
    Default surely looks to be a good option.
    :)

    Jul 23rd, 2014 - 08:36 pm - Link - Report abuse 0
  • Think

    (40) Chicureo

    Your Guanaco thinks...:
    ............................................ that the Argentines will continue to complain, wail, protest and stall until well into 2015...

    I “Think” that noble Patagonian brute meant 3015 ;-)

    Jul 23rd, 2014 - 08:39 pm - Link - Report abuse 0
  • yankeeboy

    I also hear they've already run out of their 40 BILLION peso budget for Fule subsidies...
    Does that mean they'll just print more pesos to make up for it?
    Probably
    Kinda makes it hard to agree to tax cuts the unions are demanding
    doesn't it
    Anyone else think 50% inflation is certainly possible?

    Jul 23rd, 2014 - 08:47 pm - Link - Report abuse 0
  • CabezaDura2

    “I also hear they've already run out of their 40 BILLION peso budget for Fule subsidies...”

    The incidents and riots in the Obelisco less than two weeks ago are a sign that the government is losing control over the people they pay.

    Jul 23rd, 2014 - 08:50 pm - Link - Report abuse 0
  • redp0ll

    @47 No Voice the horse isnt Dobbin but Rosinante, Don Quixotes steed he used for tilting at imaginary windmills. Like Tam Pierces grey mare, Rosinante laid down and she died with old uncle Tom Cobbley and all
    Quixote also had a half wit page who accompanied him on his adventures,posibly reincarnated as Nostrils from Mendoza.

    Jul 23rd, 2014 - 08:52 pm - Link - Report abuse 0
  • Think

    (52) redp0ll

    They weren't any “imaginary windmills”, you illiterate Engrish farmer...
    They were very real windmills Don Quijote imagined to be giants...

    Jul 23rd, 2014 - 09:10 pm - Link - Report abuse 0
  • yankeeboy

    I wonder how much CFK and minions have made leaking Economy Ministry statements? I am pretty sure that's all played out though.

    I don't think anyone in power in that country understands how they can still default if they've already paid.
    I used to tell Toby, the debt doesn't go away just because you think you don't owe it.
    It is kinda the same with the default, just because you keep saying you aren't going to default doesn't make it so. The bond rating agencies will tell you when it is in default not Argentina.
    The solution is so simple.
    Pay what you owe, fairly renegotiate all the outstanding bonds and move on.
    Why they are making their lives so difficult is beyond me.

    Jul 23rd, 2014 - 09:13 pm - Link - Report abuse 0
  • The Voice

    Mmmm… I like a nice slice of Guanaco. As it is El Think usually has to make do with currried pussy from our local Indian, thats after a few bevvies in the legion of course. Improves his breath a treat.

    Jul 23rd, 2014 - 09:16 pm - Link - Report abuse 0
  • redp0ll

    Think
    Its some time since I read Cervantes so I accept your correction. I should have said imaginary giants dressed as windmills. I think they still exist in Albacete but I may be wrong

    Jul 23rd, 2014 - 09:18 pm - Link - Report abuse 0
  • CaptainSilver

    The Falkland Islands team just walked into the stadium at the Commonwealth Games to a massive roar of welcome.

    Jul 23rd, 2014 - 09:35 pm - Link - Report abuse 0
  • Chicureo

    EL THINK
    Perhaps 3015 is being a bit optimistic, but then again, Germany just finished paying off their World War I repatriations, so everything is possible.

    Esteemed Mr. redpoll:
    My guanaco says:
    Refer to chapter VIII of the first part of El ingenioso hidalgo Don Quijote de la Mancha, de Miguel de Cervantes Saavedra, titled “Los molinos de viento”.
    Who knows, “they might be giants.” By the way, in my opinion, there was no “half wit page” in that book.

    Jul 23rd, 2014 - 09:46 pm - Link - Report abuse 0
  • british bomber

    @8
    But BNY and Euroclear are European banks. They will obey European courts or else. Who cares what the people you talk to say.

    Jul 23rd, 2014 - 09:52 pm - Link - Report abuse 0
  • Troy Tempest

    Or else what?

    Euro courts have no jurisdiction over US Justice system those Argentina agreed to abide by.

    The banks are bound by US law, just like borrowers, Argentina.

    US Law says, “Argentina pay everyone at the same time. No Argentine , ” take it or leave it” ultimatums or intimidation allowed

    Jul 23rd, 2014 - 10:05 pm - Link - Report abuse 0
  • redp0ll

    @58 Yes I know that. I was just trying to tweak Thinks horses ass in its fundament to see if he got tossed off

    Jul 23rd, 2014 - 10:59 pm - Link - Report abuse 0
  • yankeeboy

    59. Euroclear has a NY office, they are bound by the NY courts. I don't understand why you don't get this?

    I said long ago you'll be hard pressed to find a bank that is willing to jeopardize their USA or U$ operations to issue the Arg payments.

    Jul 23rd, 2014 - 11:08 pm - Link - Report abuse 0
  • Captain Poppy

    Yb he is a tooled Argentine.....poorly educated and does not understand international business and, like the Argentine govrnment......the real effects of the judiciary process. They all need retooling.

    Jul 23rd, 2014 - 11:12 pm - Link - Report abuse 0
  • Welsh Wizard

    @59 pretty sure that BoNY is a US bank ( bank of new york) . They will abide by the rulinh as they wont want to gt the licence revoked in the US. Go away and do some reading or educate yourself. You kee Pl on spouting the same old rubbish

    Jul 23rd, 2014 - 11:31 pm - Link - Report abuse 0
  • CabezaDura2

    She already admitted that we are going to default today … She was like “Argentina is not going to default, we have paid but we are simply impeded by someone from paying the holdins…Therefore you will have to invent a new definition, its not a default ”

    Jul 23rd, 2014 - 11:33 pm - Link - Report abuse 0
  • Klingon

    Hey Yankeeboy Why not make a few bucks off this looming disaster.
    Set up a live broadcast of all your commentary and insults and commercialize it. Latest is that the old hag is going to rename the default to something else, so the peasants don't realize we are in default.
    Pity Singer won't take Cristina as part payment, we would throw in the rest of the K's for free.

    Jul 23rd, 2014 - 11:35 pm - Link - Report abuse 0
  • CabezaDura2

    It’s a sensation of default

    Jul 23rd, 2014 - 11:47 pm - Link - Report abuse 0
  • Klingon

    CB A question. If we default do our Argentine bank credit cards still work outside the country?

    Jul 23rd, 2014 - 11:52 pm - Link - Report abuse 0
  • CabezaDura2

    I dont know Im more worried about a run for the banks and the end of the month

    Jul 23rd, 2014 - 11:56 pm - Link - Report abuse 0
  • Klingon

    CD, Just in case run your credit card by using your Paypal in another country.
    I don't see the peso going under 12 anytime soon.
    As always i just keep a minimal amount in my bank accounts here.

    Jul 24th, 2014 - 12:04 am - Link - Report abuse 0
  • Troy Tempest

    Please let us know what happens.
    We don't want to take the word of the Trolls or Kissitoff.

    Jul 24th, 2014 - 12:15 am - Link - Report abuse 0
  • CabezaDura2

    70
    I still have travelers checks, but I will save them for the moment, just have the minimum cash to go out to close by like Uruguay for a day or two.
    And yes its only just begun. The question for me is what to do with the pesos as I feel im being ripped off by not spending them, even though its hard to keep up knowing in the range of what most things cost around these days.

    Jul 24th, 2014 - 12:25 am - Link - Report abuse 0
  • yankeeboy

    I read that BCRA is slow paying Int'l credit cards. They won't be able to do that too long before nobody accepts an Arg card worldwide.

    Everyone thought I was joking but if you can't get U$ buy stuff you can trade like sugar and laundry detergent.

    The Arg economists think this crash will be not as bad as 2001. I will tell you it will be much much worse. All the hard assets are gone, BCRA is broke, they keep printing pesos, you're out of oil and gas. None of that was the case then. You can't devalue 3x and expect the economy to rebound. It must collapse to restructure.

    Shouldn't be too long now.
    Whether they decide to default or not is irrelevant.
    There's no stopping this now.

    Jul 24th, 2014 - 12:31 am - Link - Report abuse 0
  • CabezaDura2

    They assaulted the Central bank and stripped its autonomy in 2010 in order to “pay debts” only to end up defaulting 4 years later.
    Brilliant stuff

    Jul 24th, 2014 - 12:41 am - Link - Report abuse 0
  • Klingon

    CD Buy old antique furniture. You can export it back to the US as your own belongings and sell it.
    I know a guy who is buying firewood (300 tons) to hold, due to the inflation and banks crashing.

    Jul 24th, 2014 - 12:53 am - Link - Report abuse 0
  • Chicureo

    Dear Yankeeboy, with kind regards, especially since I'm enjoying your country's hospitality right now, personally I don't think things will not happen that quickly.

    Visa and MC will continue to work, both Dollar and Peso denominated. Also, despite all the threats, there will be I predict a last minute extension deadline, or some other nonsense to delay somehow actual seizure of Argentine assists abroad. That does not mean that liens and embargoes won't be issued, but these things move very slowly. CFK probably won't even be in charge of the country by then...I assume...

    Jul 24th, 2014 - 12:54 am - Link - Report abuse 0
  • CabezaDura2

    75.
    I dont know anything about antique furniture markets, but firewood does seem interesting and in my area it seems like a good idea as a lot of people use either garafas or fire wood as heating.

    Jul 24th, 2014 - 12:58 am - Link - Report abuse 0
  • Klingon

    I am burning his firewood at the moment actually. He buys 30 ton truck loads of Que Bracho from Chabut all cut to size.
    If you stick with Que Bracho it won't go rotten or get eaten by bugs anytime soon. Also you can sell it all year round for Asado's and change the price to suit inflation.

    Jul 24th, 2014 - 01:26 am - Link - Report abuse 0
  • british bomber

    @60
    Or else BNY and Euroclear assets are seized to pay the debt.

    Jul 24th, 2014 - 01:52 am - Link - Report abuse 0
  • screenname

    but but but but but

    how can this be?

    no,no! at the last minute all will bend to the will of CFK!!!

    Jul 24th, 2014 - 02:27 am - Link - Report abuse 0
  • CabezaDura2

    Quebracho I get here is what they call round 1/2 ton that comes in the full back of the pickup round $1500 but you end up paying a volume not weight. And you do get the occasional ant nest propping out as soon as you place a log in the fire place but overall it’s pretty dam good hard wood. Probably the guy that sells to your mate is more competitive. Are you sure it is really Quebracho as far south as that??

    Jul 24th, 2014 - 02:31 am - Link - Report abuse 0
  • Troy Tempest

    79 Hepatia Troll

    “Or else BNY and Euroclear assets are seized to pay the debt.”

    Nonsense !!!

    Are you out of your mind??!

    Jul 24th, 2014 - 04:39 am - Link - Report abuse 0
  • Captain Poppy

    #79 you must be either plain stupid or an exceptional moron....which is it?

    Don't cry as this unfolds in opposition to your strange POV.

    Jul 24th, 2014 - 09:17 am - Link - Report abuse 0
  • Klingon

    @81 Yes it is Que Bracho. They truck it in from the north. He was telling me some of it is 40 years old since it died.
    I also have Que Bracho blanco here but does not last as long as Rojo.

    Jul 24th, 2014 - 11:43 am - Link - Report abuse 0
  • yankeeboy

    Buying firewood is a good hedge. I would never have thought of that. Unless you're in a building pre-central heat the fireplaces here are just decorative. They aren't meant to warm the whole house.

    When I lived in BA I was looking at a series of islands in Tigre that were tree farms, the guy set it up so you had one island to harvest and re-plant each year.

    Looks like its pretty cold in Arg right now. Are the lights staying on?

    Jul 24th, 2014 - 12:10 pm - Link - Report abuse 0
  • ChrisR

    “Looks like its pretty cold in Arg right now. Are the lights staying on?”

    Apparently for now, but then the only lights will be the pretty, pretty ones inside TMBOA's head.

    What a mess, but the argies have worked for it and should get it, rammed as hard as possible where the sun don't shine.

    Love from Uruguay.

    Jul 24th, 2014 - 12:41 pm - Link - Report abuse 0
  • Briton

    Is someone suggesting that they haver a horse that can type with his hind legs,

    can this horse cook breakfast with his front legs,
    can carry two humans on its back and win races,

    we think,,, someone is trying to flog us a dead horse here, lolol.

    Jul 24th, 2014 - 06:49 pm - Link - Report abuse 0
  • ChrisR

    @ 87 Briton
    “we think,,, someone is trying to flog us a dead horse here, lolol.”

    Think, or as I tag him The Lunatic from Chew Butt is waiting to get 'tossed off'.

    Chucked off the nag is the only way he'll ever get it, get it?

    Ha, ha, ha.

    Jul 24th, 2014 - 08:14 pm - Link - Report abuse 0
  • redp0ll

    @87,88 Flogging a dead horse?
    Hmmm me Thinks not.
    Our sage from Chubut is carefully grooming him to run as a candidate for the Argentine Senate.
    Godammit, that nag can type with its hind legs so would almost certainly do a better job than the present bunch of numbskulls horsing around that august body
    .Fantasy of course but thats Thinks speciality
    Maybe he believes he is a reincarnation of the Roman emperor Calígula or more likely his favourite horse Incitatus

    Jul 24th, 2014 - 09:21 pm - Link - Report abuse 0
  • ilsen

    89
    Incitatus...
    ahh! his favourite 'senator', wonder which one is Cristina's?

    Hard to tell the donkeys from the horses... she seems to have a similar policy when awarding posts...

    Jul 25th, 2014 - 12:13 am - Link - Report abuse 0
  • british bomber

    @83
    We are determined to stop the Wall St robber barons from stealing our money and we will win. Wall St may be able to rob Americans but not us British.

    Jul 25th, 2014 - 12:32 am - Link - Report abuse 0
  • Troy Tempest

    91 Hepatia / British Bomber

    Do you think we are as stupid as you??

    You have been caught using multiple identities.

    The ones we are sure of are “Hepatia” which you pretend is American and living in the USA.

    The other is “British Bomber ” whom you pretend is British with a fictitious Granny living in ... what city was it?
    I know, but do you remember?

    Jul 25th, 2014 - 01:27 am - Link - Report abuse 0
  • british bomber

    @92
    I don't know hepatia. I don't know what you are talking about. My grandmother lives in Hull. Wall St robber baron singer is attempting to steal her money. He will not win.

    Jul 25th, 2014 - 01:51 am - Link - Report abuse 0
  • redp0ll

    90 Ilsen Diificult choice that one
    How about the photogenic Mr Filmus?
    He certainly believes in Never Never Land so probabably in witches also, particularly the one resident presently resident in Buenos Aires

    Jul 25th, 2014 - 01:58 am - Link - Report abuse 0
  • ilsen

    @92
    Hepatia also claimed to Brazilian for a while... British Bomber claimed to be Argentine with an Argentine grandma living in Hull. Now he refers to 'us' British. Yawn!
    @94
    I always thought that Mr Filmus was a children's storybook character, some sort of Faun? Fawning over his mistress. .. in a far away fantasy land. ...

    Jul 25th, 2014 - 07:59 am - Link - Report abuse 0
  • british bomber

    @95
    I have never claimed to be Argentine and not my grandmother as well. You are very stupid. You support Wall St robber barons when they steal your money.

    Jul 25th, 2014 - 11:27 am - Link - Report abuse 0
  • Troy Tempest

    96 Hepatia

    You are lying

    Jul 25th, 2014 - 12:52 pm - Link - Report abuse 0
  • Captain Poppy

    #96 Hep C your kirchnerites lost. Now, because she refuses to obey by the terms set forth in the contract, she will bring pain and misery on the people in Argentina. You are responsible as well for being the jester to support such an incompetent fool. You can skirt the law for a while but ultimately it will catch you with you. The least botox face could have done is secure enough gas, oil and energy to get through this winter because it is going to get nasty after Argentina defaults in 5 days.

    Jul 25th, 2014 - 01:09 pm - Link - Report abuse 0
  • ilsen

    @96
    So you claim to be British now? I know 4 year olds with better English than you. Seriously! So you weren't born in the UK then.
    Maybe an immigrant?
    Hmmm. .. to become a British citizen a foreign national has to reside in the UK for a certain period of time and then pass a citizenship test.
    You obviously haven't. As it requires a certain level of English.
    Also, in order to gain British citizenship you have to swear allegiance to HM The Queen.
    Which I am sure you remember well? Why don't you repeat that Oath of Allegiance for us all now?

    Jul 25th, 2014 - 04:57 pm - Link - Report abuse 0
  • british bomber

    @99
    I have been British all my life. Never said anything else. You yanks saying that an English person cannot speak English.

    Jul 25th, 2014 - 06:52 pm - Link - Report abuse 0
  • Briton

    Ah, I remember the signing of the magna carta,

    I said to john, I said, to john, hope my names on that bit a paper, whilst drinking me cuppa,

    of course it is Briton, do ya think we would ever forget a Briton,
    next, chuckle ,
    only a joka....lol

    Jul 25th, 2014 - 07:00 pm - Link - Report abuse 0

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