MercoPress. South Atlantic News Agency
Holdouts lash out at Argentina: “it is choosing to default next week”
NML Capital Ltd, one of the lead holdout creditors in Argentina's sovereign bond dispute said on Thursday the Argentine government refused to negotiate through a mediator and was all but preparing to default on already restructured debt. Read full article
Comments
Disclaimer & comment rulesWhat wonderful money managers are the Argentines! Especially if it is other people's money!
Jul 25th, 2014 - 05:54 am - Link - Report abuse 0Argentina: Spending Other People's Money Since 1816
Jul 25th, 2014 - 08:40 am - Link - Report abuse 0You have a child advising a crazy woman. There is a solution if only Argentina could send an adult to negotiate.
Jul 25th, 2014 - 09:03 am - Link - Report abuse 0You can send Samuel Jackson to negotiate, but good faith is never enough if the lunatic woman has the final say.
Jul 25th, 2014 - 09:17 am - Link - Report abuse 0@4 This is true. CFK is a lame duck now. Grossly unpopular. Cannot run at the next election. Is it not the time for someone to step up?
Jul 25th, 2014 - 09:41 am - Link - Report abuse 0Are the Argentine ministers avoiding NYC for fear of arrest for contempt of court?
Jul 25th, 2014 - 09:48 am - Link - Report abuse 0Is anyone senior actually there?
What is going on?
Will no-one think of the children!?
(clutches at pearls - sniffs into lace hanky)
The opposition is part of the problem too. But my guess is that nobody will want to step up until the crisis that the govt created has made full effect on the electorate.
Jul 25th, 2014 - 10:12 am - Link - Report abuse 0Well I'm pretty sure this is exactly how people such as Ilsen, Yankeeboy etc said this will all play out.
Jul 25th, 2014 - 10:53 am - Link - Report abuse 0I genuinely feel empathy for the general population of Argentina. It is time that Cristina and Co are brought before a fair judiciary. I would like to see the money she has stolen given back to the people, and that her desperate attempts to stop any inspection of Argentinas finances by world organisation (to hide her thievery) will not destroy Argentina.
BTW Elaine; as I have read today in the Asis blog officials say off the record CFK has enjoyed a slight increase lately in polling numbers as a result of all the rhetoric poured into this issue.
Jul 25th, 2014 - 11:00 am - Link - Report abuse 0Its very difficult to confront the spin machine of the gov't
@ 9 CabezaDura2
Jul 25th, 2014 - 11:42 am - Link - Report abuse 0Especially when the Peronistas are so stupid but full of guile.
”Argentina again refused to negotiate any aspect of the dispute.”
Jul 25th, 2014 - 11:48 am - Link - Report abuse 0@9 Thanks. I don't doubt the stance she has taken is for domestic consumption.
Jul 25th, 2014 - 12:00 pm - Link - Report abuse 0Recently I have had a number of friends in Argentina asking me what they should do to survive the impending financial meltdown. I find that really difficult to answer.
I wonder if anyone is considering when the default happens all the bonds held by Rg banks, Ins companies, Anses, BCRA etc are also in default and take a dive in value right along with the outside world.
Jul 25th, 2014 - 12:16 pm - Link - Report abuse 0Now they may, and i stress may get paid in full value since they are in Arg but immediately their balance sheets are inverted and they all become insolvent.
Remember over the K years banks, ins companies etc were FORCED to divest of most U$ denominated assets and invest strictly in Arg bonds most paying under the inflation rate and denominated in the ever decreasing peso.
They're probably already insolvent based on a legitimate countries accounting standards. But there will be no question of insolvency after the default.
Elaine, if your friends can't buy U$, and I know people thought I was joking before, they should buy easily bartered goods that don't expire like laundry detergent, full propane tanks somebody here brought up fire wood too. All good options.
I am pretty sure, and most traders think the peso will be 20/1 by year end. GOK what that does to inflation, 70%? Maybe? More?
“”“”“”You have a child advising a crazy woman.“”“”“”“”
Jul 25th, 2014 - 12:29 pm - Link - Report abuse 0that comment should be photographed and framed.
class. :-)
Argentines can also buy Bitcoins for an investment. There is no way the team they sent to NY is there other than to stall the process.
Jul 25th, 2014 - 12:52 pm - Link - Report abuse 0Personally a default works good for me and hopefully I will be able to buy up land soon.
If you haven''t changed all your pesos into another currency yet you have nearly missed the boat.
Bitcoins remind me of tulip bulb futures and will probably have the same outcome. At least with the tulip bulb futures you eventually got the tulip bulbs.
Jul 25th, 2014 - 01:19 pm - Link - Report abuse 0BTW what do you think the “new” Arg currency will be called. This one has just about reached its “sell by date”. Nuevo Peso? Austral Oro? Any guess? :)
They have wasted three weeks with rhetoric, name calling and defamation, vis a vis “extortion” now that the deadline is nearly upon them, they may get down to some serious discussions, but I seriously doubt it.
Jul 25th, 2014 - 01:38 pm - Link - Report abuse 0One has to wonder, if they seriously wanted to reach an agreement, what might have been achieved?
As it stands, default is approaching fast, of course it won't be called that by them.
Like I always say, if it looks likes shit, smells like shit and feels like shit (on your shoe) it's shit!
Bitcoins remind me of derivatives in that there is nothing behind them.
Jul 25th, 2014 - 01:48 pm - Link - Report abuse 0I will go with pesotito for the new currency.
Let we remember the vulture bird fund never want negotiation, forge agreement. No point Argentina negotiate then.
Jul 25th, 2014 - 01:49 pm - Link - Report abuse 0Anti-Argentina writers here always convinent forget funds not one negotiation, ever.
And the proof is no one here have example of fund say they want negotiation. Not one.
What they call 'negotiate' really is 'how to make payment'. That not negotiate.
@19 Nigel, where in the Euian are you from?
Jul 25th, 2014 - 01:52 pm - Link - Report abuse 0Anything other than U$ paid immediately is part of the negotiations.
Jul 25th, 2014 - 01:54 pm - Link - Report abuse 0Why would they take less when they have a judgement from the US Courts?
Its really cold in Argentina. I hope NML takes an LNG shipment or five in August.
That will be fun to watch.
@20
Jul 25th, 2014 - 02:05 pm - Link - Report abuse 0My name is Alistair Nigel. What you think... only one possible answer.
They won't.
Jul 25th, 2014 - 02:09 pm - Link - Report abuse 0Default is coming, business is going to look up for accountants, lawyers and investigators in the states!
Where is is, what is it, whose is it and can we get at it?
Those questions are going to be on a lot of people's minds.
South American now China. USA no matter, USA losing power every minute.
Jul 25th, 2014 - 02:12 pm - Link - Report abuse 0@22 What's in a made up name?
Jul 25th, 2014 - 02:37 pm - Link - Report abuse 0Alistair Nigel not real name? I thought yes.
Jul 25th, 2014 - 02:40 pm - Link - Report abuse 0@20
Jul 25th, 2014 - 03:12 pm - Link - Report abuse 0Alistair Nigel western EUian, on little island over water. Big boss man who went to Oxford and Cambridge school.
Or it might just be comic genius trolling
@26 Prawn! Err.. Sorry, thats insulting prawns
Jul 25th, 2014 - 03:14 pm - Link - Report abuse 0Anyone notice the backpack one of the Rg Econ Ministers was carrying into the meeting with the mediator?
Jul 25th, 2014 - 03:15 pm - Link - Report abuse 0Not shaved, terrible clothes, no tie, greasy hair and a backpack!!
What in the world are they thinking?
@26 Well reading your posts I have assumed that English isn't your first language. It reads like a Spanish to English translation.
Jul 25th, 2014 - 03:21 pm - Link - Report abuse 0Shares of Edenor and Edesur and other gas providers have been even more profitable than the dollar or real estate this first semesters.
Jul 25th, 2014 - 03:40 pm - Link - Report abuse 031. That won't last long, once the subsidies are pulled they'll go bankrupt right along with every other company tied to the consumer.
Jul 25th, 2014 - 03:45 pm - Link - Report abuse 0@29 They sent a schoolboy? Was it a spiderman backpack? (Hopes)
Jul 25th, 2014 - 03:52 pm - Link - Report abuse 0But if the subsidies go surely the gov't must give them the right to set their own tariffs.
Jul 25th, 2014 - 03:55 pm - Link - Report abuse 0http://www.buenosairesherald.com/article/165489/debt-dispute-briefest-meeting-with-pollack-ends-
Jul 25th, 2014 - 04:02 pm - Link - Report abuse 0I actually agree with yb on their looks this time. This guy looks like a disheveled street walker. Have they ever heard of a razor blade?
12
Jul 25th, 2014 - 04:06 pm - Link - Report abuse 0......“Recently I have had a number of friends in Argentina asking me what they should do to survive the impending financial meltdown. ”
...sounds credible...it must be true...
....cue...Toby....with “see what I mean”....
....
...ok....cue ...Nigel....with “see what I mean”....
ok...cue ...Nigel with....”I remember the Trolling Stone mentioning this was ElaineB's ...MO
I'm thinking of two words for 28.. ....first word.. one syllable rhymes with Duck....
The Argie delegation was carrying a back pack full of pesos to offer the vultures. Guess they didn't want that offer so the meeting ended.
Jul 25th, 2014 - 04:20 pm - Link - Report abuse 0What else could be in the backpack? A few empanada's and a Mate cup?
Jeez - it's bad enough now but if argie peso devalues to be 20 to the US$1 and their biggest note is the 100 peso note, imagine the crazy shit that will be going on, they will be walking round with suitcases full of pesos to pay for things........
Jul 25th, 2014 - 04:32 pm - Link - Report abuse 0Very very very stupid peronists have caused this and their name begins with K.
ElaineB. . If you didn't know already Alastair Nigel is the official pseudonym of the fake Chinese guy who is definitely not The Trolling Stone who isn't Tobi because he is on holiday anyway and certainly not constructing creepy websites about other posters or pretending to be other people.
Jul 25th, 2014 - 04:42 pm - Link - Report abuse 0Oh no! Perish the thought!
I almost miss my old stalker Stevie-bedwetter. At least he was simple!
(I said ALMOST, ok?) - (hoikes bosom and glares over pince-nez)
@ 36 The Voice (but which one, eh?)
Jul 25th, 2014 - 04:45 pm - Link - Report abuse 0“I'm thinking of two words for 28.. ....first word.. one syllable rhymes with Duck...”
What on earth has a PUCK got to do with it?
(36) A-voice
Jul 25th, 2014 - 05:13 pm - Link - Report abuse 0Sooooo...., you too noticed poster ElaineB's mentioning, yet again, the tribulations of her “Numerous Friends” in Argentina...
Them Argie friends who are “ ”always very afraid“, as she tells us...
Them same Argie friends who are ” “always in therapy” as she tells us...
Them very same Argie friends who are “ ”always very late” as she tells us...
................................................Some friends!
@41 I am guessing you don't have any friends so it must be an alien concept for you.
Jul 25th, 2014 - 05:25 pm - Link - Report abuse 0@39 I was just playing with him.
Think. Are you saying you disbelieve ElaineB? She always seems to be clear and knowledgeable about her experiences in Argentina. Cant say the same about yoursel :(
Jul 25th, 2014 - 05:33 pm - Link - Report abuse 0Hmm!
Jul 25th, 2014 - 05:45 pm - Link - Report abuse 0Thinking on that? I second your opinion. Elaine seems to have her finger on the pulse, whilst Snr Think seems to have his finger elsewhere, or should that be his thumb!
(36) A-voice
Jul 25th, 2014 - 05:54 pm - Link - Report abuse 0As you say....... If he's “Out of Character”....., he ain't you.....
(As in (43))
CFK is thinking about making a big public party to celebrate paying the 1st payment to the Paris Club.
Jul 25th, 2014 - 05:57 pm - Link - Report abuse 0You could not make this up if you tried.
I really think they have some sort of chemical in the water that is poisoning everyone and making them delusional.
Somebody should really be looking into it.
Anyone else hearing voices? (except Tobi)
Jul 25th, 2014 - 05:59 pm - Link - Report abuse 0:)
Yankeeboy
Jul 25th, 2014 - 06:08 pm - Link - Report abuse 0Any magician will tell you, it's called slight of hand.
@46 She sets the bar low as it is hard to have a high jump competition when you are waist deep in shit.
Jul 25th, 2014 - 06:12 pm - Link - Report abuse 0The Argie delegation are headed home already, so as expected that didn't go to well.
Obviously never heard of the telephone!
Jul 25th, 2014 - 06:21 pm - Link - Report abuse 0“After speaking with both sides, separately, I proposed and urged direct, face-to-face talks between the parties. The representatives of the bondholders were agreeable to direct talks; the representatives of (Argentina) declined to engage in direct talks,” Daniel Pollack said in a statement.”
Jul 25th, 2014 - 06:23 pm - Link - Report abuse 0http://www.laht.com/article.asp?ArticleId=2345125&CategoryId=12396
Hmmm… I have obviously got no support about my identity theft problem on here?
Jul 25th, 2014 - 06:24 pm - Link - Report abuse 0It isn't as though I have been consorting with the enemy, Mr Think (yousay Isay) is not an enemy? Very nice fellow apart from the halitosis and incontinence problem which always seems to happen when its his round down at the legion?
I haven't been annoying the Falkland Islanders by claiming half the islands aren't theirs? I have never been to the rain soaked dump but I am a bit of a dab hand at googling…
Same with old Conquerer, wonder how I could possibly have upset him?
And, I haven't been bragging at all about my properties and achievements and the property I own in America? Its not as though I have been blowing my own bagpipes.
And as for the yanks aussies and canuks, I haven't really been insulting and denigrating them at every opportunity and calling into question their knowledge of America and Argentina?
Have I really been aggressive, I haven't challenged various other posters to fights or called them frauds (much lately… )?
Cannot understand why I cant seem to garner any support at all with my identity theft? Possibly a good idea to nip down to Citizens Advice, or the bank do you think?
I am ready to change, Mrs Castro has run out of $ so the payments have stopped and she has had to take a cleaning job..
Can you yanks, Yankeeboy and Troy, help me out, I'm your best friend really?
45 Think
Jul 25th, 2014 - 06:31 pm - Link - Report abuse 0Exactly..;-)
52
Impostor above...so....I worry you do I.....
I take it as a compliment that you go to so much trouble.....;-)))))
What about my bad points.....?
Comment removed by the editor.
Jul 25th, 2014 - 06:38 pm - Link - Report abuse 0@54 What were you thinking buying Argentine bonds in the first place. They were neck deep in debt and your financial adviser told you it was a good investment??
Jul 25th, 2014 - 06:48 pm - Link - Report abuse 0You are still looking to make a profit out of it??
How about 70% of your original investment back in bonds maturing in 5-7 years and you walk away with something.
The Argies have paid. We need to get it out of the bank. An English judge will fix this.
Jul 25th, 2014 - 06:55 pm - Link - Report abuse 052, 53, “Voice ”
Jul 25th, 2014 - 07:05 pm - Link - Report abuse 0I'm confused, you have the same supercilious manner in both parts of your double-post.
Very characteristic of YOU, I'm afraid.
Looks like you're trying to fabricate an issue, nothing more.
54 German Holdout,
Spam!!!
56 Hepatia
Woefully incompetent spam- trolling
57
Jul 25th, 2014 - 07:18 pm - Link - Report abuse 0Bozo..if you can't tell the difference.....you are highlighting your own inadequacies and lack of perception...
Yeah..like I would refer to you as a Yank....see last line....
Hell would freeze over before my traditional education would allow me to begin a sentence with a Capitalised Conjunction...
....lastly..who gives a Fcuk what you think.....Wannabe....
Ever been to the UK.......Canadian...?
OK times up,
Jul 25th, 2014 - 07:21 pm - Link - Report abuse 0send in the bailiffs,
mmmm hang on a mo,
her ships are a sinking, her planes canny fly, her soldiers have no uniforms,
her country is bankrupt, the trains are falling apart, the buses ??
and the people are pizzed off,
still, could the American extradite her to the states , to spend the rest of her life in prison, before she legs it with the household silver...lol.
Troy….Schizophrenia, thats what it is. One moment I am me and the next, me again…
Jul 25th, 2014 - 07:24 pm - Link - Report abuse 0I am an imposter, no I am not..
Love Mr Think…
Good points, hmmm
Bad points… please see above..
Ok, chaps, I think we need to lighten up, have a cuppa and read some very good news,
Jul 25th, 2014 - 07:33 pm - Link - Report abuse 0Britain has the highest growth in the world this year so far.
Yippee,
And now watch the mighty Elizabeth go into the water and turn around,
http://www.telegraph.co.uk/finance/10985375/Watch-the-Navys-new-carrier-take-to-the-water.html
Brilliant,
Oh by the way,
Argentina bankrupt and NO ships….lol
.
60
Jul 25th, 2014 - 07:37 pm - Link - Report abuse 0Keep posting you are running the risk of posting at exactly the same time as me....and that is not possible if I had both identities....
..ask Anglotino....;-)
You will expose yourself and the source eventually....thus proving I was right all along...
You can do a lot of talking....but are certainly lacking in the thinking department....
Check out this article in the BA herald http://www.buenosairesherald.com/article/165422/clintonians-flock-with-vultures
Jul 25th, 2014 - 08:00 pm - Link - Report abuse 0http://www.theepochtimes.com/n3/blog/can-argentina-embassies-be-seized/
Jul 25th, 2014 - 08:14 pm - Link - Report abuse 0I understand that the RG government will be looking for some temporary accommodation such as caravans, tents and the like...Chuckle
From your link MM
Jul 25th, 2014 - 08:39 pm - Link - Report abuse 0“Antonin Scalia, US Supreme Court Justice, noted that US federal law doesn’t offer a shield of protection to cover Argentina’s assets. Justice Ginsburg said that Argentina’s embassies and ships might be subject to appropriation if Kirchner doesn’t open her coin purse.”
And those two Justices are polar opposites. For them to agree on anything says a lot. And Griesa.......he is hardly a conservative. This is a judge the stopped a dam from being built to save fish. So they can whine all they want because these justices are not all on the same political side. And if memory serves me, SCOTUS unanimously refused hearing the case.
Argentina needs to grow up and realize they need to play by the laws that they contractually signed on that they would and those are the contractual and financial laws of the state of NY. Man up Argentina so you can provide heat and electricity for your country this winter.
Crissy will be in Caracas when they default.
Jul 25th, 2014 - 08:48 pm - Link - Report abuse 0How appropriate
Scumbag Marxists all stick together.
Oh, this is interesting for almost all to take a glance at, no matter what your position about Argentina is...
Jul 25th, 2014 - 08:55 pm - Link - Report abuse 0http://www.laht.com/article.asp?ArticleId=2345115&CategoryId=14093
“History may not repeat itself, but it does rhyme,” Mark Twain
“...and he might have been speaking of Argentina, which is in the headlines again for the prospect of its third international default... history can give us a few hints in iambic pentameter.”
I wonder why Think has stopped giving us the daily Merval % change and/or the $ change in the peso.
Jul 25th, 2014 - 10:05 pm - Link - Report abuse 0I wonder why?
:)
@68 Yankee. Think is a spent force. He realises that everything he has believed in is turning to dust before his eyes. He is feeling chastised and worthless and most important of all, a loser. Nothing to Envy. Argieland is turning into an economic N Korea.
Jul 25th, 2014 - 11:09 pm - Link - Report abuse 0.... is bemused.
Jul 26th, 2014 - 02:39 am - Link - Report abuse 0Whatever is going on?
(gets back to knitting and keeping a beady eye on you lot!)
Think and Nosegay are one and the same? Who would have figured it?
Jul 26th, 2014 - 05:46 am - Link - Report abuse 0..and, I fell for it :-). Or, I am one and the same… ?
Jul 26th, 2014 - 06:11 am - Link - Report abuse 0Nobody cares what you are; really, nobody.
Jul 26th, 2014 - 06:29 am - Link - Report abuse 0Does anybody think TMBOA actually has a plan or is she just careering from one day to the next? Also, if she has a plan do you think it is based on advice from her team of experts? Or even worse: is careering from one day to the next advice from her team of experts?
Not long to go now however it is going to play out. I feel terribly sorry for the good people of Argentina though.
58 VoiceOverThink
Jul 26th, 2014 - 07:04 am - Link - Report abuse 0pure artifice on your part.
No controversy??
Then create some, so we call all talk about you...
LOL, you so crave attention and drama, and all over nothing!!!
PMSL
=)
72--are you talking to yourself...
Jul 26th, 2014 - 06:19 pm - Link - Report abuse 0as for Mr think, some say he will apply for a British passport..lol
@73 You may want to read this article, it's in Spanish though:
Jul 27th, 2014 - 07:47 pm - Link - Report abuse 0http://www.lanacion.com.ar/1713467-el-gobierno-ya-estudia-medidas-de-consumo-y-empleo-ante-un-default
... is so bored of this double Think, double Voice.
Jul 27th, 2014 - 11:33 pm - Link - Report abuse 076. So CFK's “plan” is to flood the market with an additional $10B pesos in the hopes that companies won't lay off and to goose the consumer market?
Jul 28th, 2014 - 12:09 pm - Link - Report abuse 0Holy crap she's dumb.
They keep this up much longer and 20/1 will look like a bargain.
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