MercoPress. South Atlantic News Agency
Kicillof blames Judge Griesa for the 'no-deal' situation with holdouts
Argentina failed to strike a deal to avert its second default in more than 12 years after talks with holdout creditors and special mediator Daniel Pollack ended without a settlement on Wednesday. Read full article
Comments
Disclaimer & comment rules'Everyone's fault except ours'......please use a new excuse!!!
Jul 31st, 2014 - 07:18 am - Link - Report abuse 0Why wait until last 2 days to negotiate directly with the holdouts?
No excuse for your mess really.
Let me explain, if he doesn't understand.
Jul 31st, 2014 - 07:21 am - Link - Report abuse 0You borrow money and don't pay it back, you default.
Simple.
It must be belittling for someone who has a PhD in Economics to have to publicly repeat the Kirchner drivel on the issue.
Jul 31st, 2014 - 07:24 am - Link - Report abuse 0Argentina blaming everyone else but themselves.
Jul 31st, 2014 - 07:25 am - Link - Report abuse 0Anyone surprised by this?
This would have been settled if they had simply paid up.
So Sorry for the good people of Argentina, but their politicians have really screwed up the economy.
what else can he say: it´s dictated by brain amputated ck.
Jul 31st, 2014 - 07:29 am - Link - Report abuse 0I can't figure out why a bunch of banks would buy the holdout bonds at full value. Unless, of course, the Arg government has said that in Jan 2015 they will give them the cash, in order to avoid RUFO.
Jul 31st, 2014 - 07:41 am - Link - Report abuse 0Even so, I still can't figure out why the banks would do that, because they are exposing themselves to the risk that the government isn't as good as its word(!). What is in it for these banks? I don't buy the altruistic angle, either they are expecting to profit from the deal or they are terrified of the consequences of a prolonged default.
Can anyone enlighten me on their motivation?
@3 Does he really have a PhD in Economics? Or does he have a piece of paper like CFK's law degree? *coughs*
Jul 31st, 2014 - 07:51 am - Link - Report abuse 0It appears Kiciloff offered the exact same deal that has been rejected numerous times before. Did he think the hold outs would cave when they possess the winning hand? The boy is an idiot. All arrogance and ignorance.
I think it is probably true that there will not be rioting in the streets initially. This will be more of a slow, debilitating terminal illness.
Argentina the superpower and world champions at financial default.
Jul 31st, 2014 - 08:06 am - Link - Report abuse 0They played their national style - swerved, dribbled, clumsily tackled, looked to the referee for unearned and undeserved free kicks, he showed them yellow cards and now they dived in the last minutes.
Well guess what Argentina, there is no extra time.....it's straight to penalties.
Tick tock, Tick tock.
@6 -It's the second point, they are terrified of the consequences of a prolonged default
Jul 31st, 2014 - 08:27 am - Link - Report abuse 0I'm not even sure that banks in Argentina have $1.6bn lying around without seriously destroying their capital ratio
@9 - I could understand that but only if the consequences truly were terrifying for banks, and we keep being told there are no serious consequences, it's only a technical default , nothing to worry about etc etc. So is it terrifying or not, and if so why?
Jul 31st, 2014 - 08:43 am - Link - Report abuse 0“he Argentine official admitted “honestly I don't understand US Justice system in which 1% of holdouts is blocking 92% from collecting their coupon.”
Jul 31st, 2014 - 09:08 am - Link - Report abuse 0It's called “Pari Passsu”. Maybe they need to learn to read the fine print. He also needs to understand that sovereign debts do not go away because they do not want to pay them back.....there is not bankruptcy protection.
I watched some of him briefing, he really is an immature clown.
@11 Problem is, his interpretation of pari passu, as well as that of the entire financial system is a bit different from that of Griesa. Though it's probably the idiot lawyers that wrote the fine print who screw up. I have no clue how politicians sign contracts without reading them. That's why this case is so important. No turning back now though.
Jul 31st, 2014 - 09:25 am - Link - Report abuse 0Now folks! We can't blame the child, he is only doing what his mommy told him to do OR ELSE!
Jul 31st, 2014 - 11:38 am - Link - Report abuse 0TMBOA, mad right to the end of other people's money.
The 'it's only a technical default' will shortly be shown for the nonsense it is: wait until a tanker of gas is sudenly siezed. Strike a light!
Even before the Pari Passu clause, they fail to understand that they signed a contract that is still in force. Regardless of Argentina deciding not to pay on it does not conclude the obligation to that contract as there are no avenues in place for a nation to be absolved from contracts internationally.
Jul 31st, 2014 - 11:39 am - Link - Report abuse 0Even if they decide they are going to make payments elsewhere out of the reach of the USA, they do not have the names of the bondholders. If you think the USA bank will turn it over, acting in contradiction to a judicial ruling....think again.
#3...that's a PHD in Marxist Economics....and if he doesn't do what cfk says...he gets a knife in his back...like many others have experienced.
Jul 31st, 2014 - 11:56 am - Link - Report abuse 0what can we do, kicillof is an imbecile.
Jul 31st, 2014 - 12:02 pm - Link - Report abuse 0he is not even qualified to manage a students center.
we will send him to the falklands- malvinas to manage their economy.
He teaches the history of economics hardly someone to lead the economics of the country. Hes got great charisma though...
Jul 31st, 2014 - 12:13 pm - Link - Report abuse 0@16
Jul 31st, 2014 - 12:15 pm - Link - Report abuse 0Erm, no thank you. The Falkland Islanders have the safest economy and the highest standard of living in South America, because they are British and not Argentine. A fact for which I am sure they are eternally thankful.
@17 He likes to boast that he has CFK in his thrall.
Jul 31st, 2014 - 12:24 pm - Link - Report abuse 0Comment removed by the editor.
Jul 31st, 2014 - 12:39 pm - Link - Report abuse 0The Argentines are now gobbing off at everyone:
Jul 31st, 2014 - 12:47 pm - Link - Report abuse 0http://www.theguardian.com/business/live/2014/jul/31/argentina-defaults-after-last-ditch-talks-fail-business-live
imbecile 20
Jul 31st, 2014 - 12:54 pm - Link - Report abuse 0we prefer to judge and jail this kind of people, something the uk has never done with blair, camoron, thatcher, churchill and the list goes on.
as for your methods, save them for your computer war games, you imbecile.
you play the brave guy because you are behind a keyboard.
surely you must be the typical fatty, effeminate, useless british wannabe teenager.
You just couldn't make it up. It's always somebody else's fault. Argentina = the eternal victim. Nothing is ever their fault.
Jul 31st, 2014 - 12:58 pm - Link - Report abuse 0France’s largest retailer, Carrefour, is planning to pull back its expansion plans in Argentina following the technical default, Reuters reports.
Jul 31st, 2014 - 01:04 pm - Link - Report abuse 0Capitanich: We're not in default.
Reminds me of the Iraqi Information Minister:
“In an age of spin, al-Sahaf offers feeling and authenticity. His message is consistent -- unshakeable, in fact, no matter the evidence -- but he commands daily attention by his on-the-spot, invective-rich variations on the theme. His lunatic counterfactual art is more appealing than the banal awfulness of the Reliable Sources. He is a Method actor in a production that will close in a couple of days. He stands superior to truth.”
The old drag queen was yapping in this morning's hour of lies that this is all the USA's fault specifically Obama.
Jul 31st, 2014 - 01:06 pm - Link - Report abuse 0And that this was going end up in The Hague.
WTF?
These people are really too stupid for words.
He also said the “rest of the world believes we are in ”technical default”
Well the rest of the world in the real world not the bizzaro world these cretins live in.
There is really something wrong with the people running Argentina.
I hope this drags on and on
I can't wait for the blackouts to start.
Those old enough will never forget Comical Ali insisting there are no American tanks in Baghdad while they rolled around in the background shooting the place up.
Jul 31st, 2014 - 01:09 pm - Link - Report abuse 0Being in a jet powered tank on a thunder run through Baghdad must have been one of the most exciting military operations ever devised.
Here is the latest from Comedy Central-South:
Jul 31st, 2014 - 01:11 pm - Link - Report abuse 0http://www.buenosairesherald.com/article/165950/govt-denies-default-bashes-us-judiciary
Taking it to the ICJ.....by all means, make a bigger ass out of your country.
They should try to get a 2 for 1 offer - and pursue their Falklands claim at same time : )
Jul 31st, 2014 - 01:31 pm - Link - Report abuse 0@16 Pauly, you are a card… Hows about a delegation from the Falklands dropping in to show you lot how to manage your economy? They have so little and do so much with it, making themselves wealthy, much wealthier than you. Meanwhile Argentina has so much and does so little with it? Whats wrong with you guys?
Jul 31st, 2014 - 01:39 pm - Link - Report abuse 0Perhaps they could also guide you on las enforcement, they could send the constable over!
As for defence the Falklanders could send a penguin delegation.. :-)
I can't imagine how there could ever be a deal between GS or a bank consortium and NML.
Jul 31st, 2014 - 01:51 pm - Link - Report abuse 0It doesn't make sense.
Why would anyone pay U$1.6B for bonds that Arg insists are worth U$250MM?
It goes back to my thinking that Argentinians think everyone is as stupid as they are.
Austral Evis is one of those people that thinks he is smart because he's always been surrounded by dumb people. He is so out of his depth.
I love they think this could end up in The Hague, a court the USA doesn't recognize and a lawsuit the USA gov't is not a party to.
You can't fix stupid
If anyone sees the notice of when the non-embassy properties are being seized please let me know. I want to make sure I am across the street to watch.
@11
Jul 31st, 2014 - 02:13 pm - Link - Report abuse 0There is no bankruptcy protection? Says who?
There is. And the bankruptcy protection is made by Argentina itself.
Now that there is default (again), you can bet the hold-outs are completely gone. They will never see one cent. They lost. Their only threat was the “precipice” of default. They bet Argentina was bluffing.
Argentina jumped.
They have no other cards now.
Bye-bye Singer. I bet he was spitting in his coffee this morning.
31. The judgement didn't go away. I think Singer will have a lot of fun harassing Argentina all over the world.
Jul 31st, 2014 - 02:16 pm - Link - Report abuse 0Don't forget Argentina will be made to disclose all of their worldwide assets.
He'll get paid with interest, penalties and attorney fees.
Wait and see
Yankee, did you ever see that film Idiocracy where a guy is frozen for 500 years and wakes up in a world where everybody is dumb because the stupid ones have outbred the inteligent ones. Leaving him by far the most intelligent guy alive?
Jul 31st, 2014 - 02:17 pm - Link - Report abuse 0http://www.imdb.com/title/tt0387808/
Well, I think it has already happened in Argentina!
They have CFK, Timerman, Killitoff, Nostril, Paulcedron, Josey etc. Idiocracy alive and well in Argentina where more than half the population votes for idiots ! :-)))
They are paying a heavy price.
Singer will be fine. The debt doesn't mysteriously vanish and it is rumoured that he also owned some credit default swaps linked to Argentina.
Jul 31st, 2014 - 02:18 pm - Link - Report abuse 033. Oh yeah, that's been my theory for a long time I've mentioned it here more than a few times. Every generation since Peron, the smart and or ambitious ones flee to USA UK or EU leaving the dumb lazy ones to breed dumber and lazier Rgs.
Jul 31st, 2014 - 02:21 pm - Link - Report abuse 0I wonder how YPF will manage without the u$5B they were planning on getting with their now canceled upcoming bond float.
Same with the Provinces.
Same with the supposed credit from the Paris Club countries.
Cash in Advance will be the norm
Nobody loans to deadbeats.
@32
Jul 31st, 2014 - 02:27 pm - Link - Report abuse 0He didn't get paid in the years after the original default, he is not going to get paid now. At least he won't get money from Argentina.
Anyway I thought default was the end of the world.
I just checked and the sun is still in the sky and the continent is still above water.
Where is Think on today of all days?
Jul 31st, 2014 - 02:30 pm - Link - Report abuse 0Think - You used to speak in glowing terms about Axel. Are we missing something because it looks like Argentina has just defaulted? Is this part of a really clever plan or has he just walked into a room full of grown-ups and learnt a very, very hard lesson?
Why do you keep talking about learning lessons?
Jul 31st, 2014 - 02:38 pm - Link - Report abuse 0Argentina has nothing to learn, not it wants to learn, anything about your criminal nations. You are criminals, no one wants to learn anything from EU, US, UK.
What more does Argentina need to do to show we have no respect for your “laws” and beliefs? We don't care about them, we don't respect them, nor do we respect you.
@36 Toby
Jul 31st, 2014 - 02:38 pm - Link - Report abuse 0Ah you drop the Chinese accent already. Didn't take long.
Is the sun shining in Mendoza or Shanghai?
Toby, Just because he hasn't been paid yet doesn't mean he won't get paid, He absolutely will get every penny he wants from Argentina.
Jul 31st, 2014 - 02:50 pm - Link - Report abuse 0Nobody ever said the default would have immediate affects on the daily lives the Rgs. As this rolls out it will have terrible consequences to the economy. The gov't is out of cash. They are pumping the economy with pesos. They will devalue again. They will go into hyperinflation if they don't stop printing very soon.
These are all a given, there's nobody that says that there is another path with the current crop of crazies running the asylum. It will happen it is just hard to say when but it will be sooner now that there's a default.
I think this is the month the Int'l companies can xfer their profits back home. I bet they won't be able to now.
I bet they start to pack up and leave.
There's no benefit to producing anything if you can't take your profits.
Watch the layoffs skyrocket by eoy if they choose to say in default.
@38
Jul 31st, 2014 - 03:06 pm - Link - Report abuse 0“What more does Argentina need to do to show we have no respect for your “laws” and beliefs? We don't care about them, we don't respect them, nor do we respect you.”
Right, so how would you explain the recent agreements to settle obligations to the Paris Club and Repsol among other international debts?
38 Alistair Nigel
Jul 31st, 2014 - 03:18 pm - Link - Report abuse 0It seems you like to borrow money from us but not pay it back. Your comments on here are a perfect reflection of the “feral child” image Argentina has abroad.
Strange situation....Arg has accorded with 93 % of bond holders and is paying them...and wants to pay them, and has deposited the money to pay them as it has been accorded and accetpted. Arg has the money to pay. The money is there for them.
Jul 31st, 2014 - 03:20 pm - Link - Report abuse 0Others, 1 %, not saints one, the vultures ones, that have address in paraísos fiscales, speculative firms with money power to move in US justice, that bought the “defaulted bond” not the originals, that didnt give money to Arg, and to whom Arg wants to pay in equal conditions, they do what they want, continue speculating , couldnt wait 5 months...and this speculative people has US justice approvement....
THIS TIME, WE CAN RESIST.
Jul 31st, 2014 - 03:21 pm - Link - Report abuse 0I said in one of my comments a few weeks ago that the interpretations that anybody can make of the problem that we have with the vultures, aren't because of a matter of missinformation, due to the government has explained exhaustivelly this conflict in many opportunities, beside, it published articles in some of the most important financial newspapers of the world, in order to explain the posture of the nation. On the other hand, in the case of mercopress, it published also the posture of our government, without signifficant omissions. Then, if some people agree on the posture of the vultures, is just because of a matter of ideological coincidences.
I think that some people in this forum really think that we are too stupid people, because they pretend we to believe that if the problem wasn't solved, it was mostly because of cristina's arrogance. However i would like to see whether those hypocrites say something about the dirty game of the vultures, who published articles in local and international newspapers, distorting the facts of this conflict.
It was too expectable that we were not going to get an agreement, in fact, although some hypocrites don't say it, vultures are just vultures, they don't negotiate, they just litigate in a corporate justice whith the purpose of getting a rulling which let them get huge profis for the bones that they bought for a very low price, beside, everybody knows that those sons of a bitch have never lent any money to argentina.
Beyond it's a good day for our sepoys, them, and all the rest of cretins who are so happy with this result, must know that the country is in a much stronger situation than what it was in the past, when it had to cede before the pressure of economic power and their intents of financial coup d'etat, like in 1989 and 2001.
If since 2007, the country could resist the 7 economic runs, which tried to brake c. f.k's government down, we can resist also the intent of those sons of a bitch now.
@44 axel
Jul 31st, 2014 - 03:27 pm - Link - Report abuse 0Welcome back, long time since I have seen you post on here.
An easy answer to your question is another questions: why was Uruguay able to quickly arrive at a solution to its default in 2003?
Their default was similar in comparison to their economy.
What i want to know is why our government didn't but the bonds back instead of letting the Vultures snap them up? It was only 50 million.
Jul 31st, 2014 - 03:36 pm - Link - Report abuse 0#31 are you that stupid Tobias? According to who? The entire civilized world........ask your so called friends at the UN and ICJ. Argentina laws does no shield it from the laws they signed the contract under.
Jul 31st, 2014 - 03:46 pm - Link - Report abuse 0As for Singer? He is reviewing purchase offers from JPM and you private bankers in Argentina.
You Argentine's real problem is understanding that contracts are signed obligations and do not go away because you refuse to pay them. How deep is the hole Argentina will dig this time?
There is still hope......all you you hard working Argentine's that are sick of seeing your purchasing power and paycheck shrink month after month.......unite and demand her impeachment. Join up with the unions and farmers and demand she be removed for the pervasive graft and corruption, mismanagement and incompetence and general overall stupidity. You all should demand she be removed at once along with Bobo the clown....aka Boudou.
Can you not see what the lack of imports is doing to inflation, jobs and top society in general? You allow this kid manage the economy and in 1 year's time it moved to shit at warp speed. How does it feel to be a 40 year old commie's experiment? Life is not getting better in Argentina anytime soon. If you all do nothing I suggest you take a road trip to Venezuela to get a feel for your new life. and get use to it.
BTW
Do not forget to ask the lingering question.......if this economical process is so good.....how the the #1 country in the world with proven oil reserves become the POORIST nation in the world under a socialist regime? Not counting the ones running the country because they are by far the some of the world's richest.
@47
Jul 31st, 2014 - 03:50 pm - Link - Report abuse 0And replace them with whom? With what? Capitalism? That proved to be dismal failure. Capitalism does not work in Argentina. Capitalist want to exploit us, not invest like they do everywhere else.
@45
Uruguay was offered negotiations by creditors, as was every other country.
Argentina was not, it was told to pay or pay. No grace period, no negotiations, no IMF loan to act as drawbridge.
Funnily enough, Argentina did not respond well to that threat.
@KatiaPorzo
Jul 31st, 2014 - 03:51 pm - Link - Report abuse 0“Aurelius has received no such proposal that we considered worthy of serious consideration,” -- Aurelius
JP. Morgan or the Argentine banks??
Perhaps Argentina will just go back to barter system like they did in the old days. The worker can be paid in beans, carrots and turnips...
Jul 31st, 2014 - 03:57 pm - Link - Report abuse 0Then there will be no need to worry about money, just turnips, carrots and beans...
“That proved to be dismal failure. Capitalism does not work in Argentina. ”
Jul 31st, 2014 - 03:58 pm - Link - Report abuse 0#48 you are correct Tobias, I cannot argue that fact with you. Capitalism depends on a hard working pool of people......and what would you know about working living off you mommas titties.
@48 Toby
Jul 31st, 2014 - 04:29 pm - Link - Report abuse 0“Argentina was not, it was told to pay or pay.”
What really happened was that Argentina's creditors asked for negotiation. Your beloved Nestor refused to enter in to negotiations.
About the exact opposite of what you have said.
Vultures start circling if you play dead.
@52
Jul 31st, 2014 - 04:35 pm - Link - Report abuse 0Lie. Kirchner originally wanted to pay in 92% of value with bonds issued in Argentina. Vultures refused.
They did not negotiate, they wanted pay or pay. They have bruised Argentina, but they have lost.
You really expect Argentina to pay them now that the disadvantages of default will be incurred no matter whether ARG pays or not?
#51
Hard working my ass. You are slaves who work hard.
Slight difference.
@53 Toby
Jul 31st, 2014 - 04:48 pm - Link - Report abuse 0I am talking about the 2002 default in Argentina and the 2003 default in Uruguay.
In the first case the Argie leadership tried to strong-arm their creditors, in the latter, the Uruguayans negotiated in good faith.
Your dear Nestor could have resolved this mid-2000s like Uruguay did.
Argentina chose to put itself at the mercy of the NY laws and the vultures.
Tobi what would you know as this entire forum laughs at your never being outside of Mendoza. You're nothing but a sad talking puppet.
Jul 31st, 2014 - 05:02 pm - Link - Report abuse 0You really need to get laid. Orgasms feel different without you hand.
Where is Think gone to?? He has being missing in action for the past month or so, he came back yesterday before his wonder boy finished his negotiations to claim he had pulled it trough.
Jul 31st, 2014 - 05:11 pm - Link - Report abuse 0He was even big about Brito and the banksters the new Nac&Pop heroes of Argentina
Ouuuch
Gosh all these rumors flying around, JPM, GS, yadda yadda yadda
Jul 31st, 2014 - 05:35 pm - Link - Report abuse 0Nobody is going to buy these bonds to lose money just to help Argentina out of a jam.
I am surprised the U$ isn't over 13 by now. The central bank must be tamping it down so people don't get too scared.
56. Yeah Thicko had all of that gloating thrown right back in his face. He is still batting 100% tho...never been right about anything.
It must be a grand feeling to be perfect, isn't it Axel?
Jul 31st, 2014 - 05:47 pm - Link - Report abuse 0All this BS rumors flying around one would think they hired Tea Ballers as their spokes person.
Jul 31st, 2014 - 05:49 pm - Link - Report abuse 0BTW its over 13 now which is probably the new floor.
Jul 31st, 2014 - 06:00 pm - Link - Report abuse 0It would be interesting if the Bond Insurance didn't pay out since this is a judicial matter not an inability to pay. If it goes on long enough some of the holdin bondholders might get antsy and demand full payment.
Wouldn't that be interesting to watch?
Interesting how TiempoArgentino (govt held media) titles this as “Argentina resisted the vultures preassure so there is no agreement”
Jul 31st, 2014 - 06:06 pm - Link - Report abuse 0How much can they leave in a upside down reality is beyond me
Deadbeat.... pay your bills...
Jul 31st, 2014 - 06:12 pm - Link - Report abuse 0Capitanich has blamed the United States directly for “ the responsability lies with a state, that of the United States” and “not acting in a adquate manner” also “shameful handling of the funds case against Argentina”
Jul 31st, 2014 - 07:13 pm - Link - Report abuse 0What the hell. How is it shameful that the judicary is seperate and impartial to the government? If I remeber correctly Obama administration urged justices to rule for argentina in the subpoena case. The system works. The US has done nothing wrong. It has no influence over the juducicary. That is supposed to be good thing. So how the hell can Argentina take this to the Hague and what would be there defence even if it got there?
Negotiators?? It was easy to negotiate when Argentina held all of the cards, IE with bond negotiations in 05 to the Paris club to Repsol. The negotiations went like this. We won't pay you didly until we are comfortable that we screwed you royally so we can gloat about it for reelection purposes, but when Singer won the lawsuit, they were without any power to force a cram down so they freaked and wouldn't deal. Good luck losers!!
Jul 31st, 2014 - 07:20 pm - Link - Report abuse 0@64
Jul 31st, 2014 - 07:26 pm - Link - Report abuse 0I'm sure they will find the apporpreiate spin
“We stood up to the vultures”
“we will never be told what to do by the foriegn devils”
The government of Argentina are good at spin. Even when thier own press print some thing they concider malicious they demonise the journalist. Look at the chap who was looking into the Kirchner families money and investments. They guy is constantly demonised. Forgot his name can anyone refresh my memory please?
@63
Jul 31st, 2014 - 07:36 pm - Link - Report abuse 0Jorge Lanata is the man
@66
Jul 31st, 2014 - 07:41 pm - Link - Report abuse 0Thanks.
@16 paulcedron
Jul 31st, 2014 - 07:51 pm - Link - Report abuse 0“what can we do, kicillof is an imbecile.
he is not even qualified to manage a students center.
we will send him to the falklands- malvinas to manage their economy”
The Falkland Islands are not in default because even though their earnings are too small for your liking, they have had a surplus most years since the 1980s, following a REALLY.SIMPLE. RULE.
If you can't afford something don't borrow money to do it, wait till you can pay before buying. You don't need a PHD to work that out.
It is in fact Argentina that need the advice of the Falkland Islanders to turn itself around, bearing in mind that the income per capita in the Falklands far outstrips the average Argentinian and the Islanders understand how a socialist economy works, with the addition of a capitalist element.
The Argentine policy of jamming its head in the sand and putting its hands over its ears hasn't met with a great amount of success.
Send Kicillof for some BASIC economy lessons from the FIG-and make sure his cheque for the tuition does not bounce please.
There is a new advisor employed by the FIG on another post.
Suggestion, when he's made the Islands richer than they are now, get your government to employ him.
Your appraisal Kicillof is accurate-and I am as disappointed as you that Tony B-Liar did not end up in jail.
Everyone in the government will blame something or somebody, lots of K-jerks will agree with them. The truth? only one: ARGENTINA IS IN DEFAULT AGAIN, the second in only 13 years. Anything else is BOLOGNA.
Jul 31st, 2014 - 08:28 pm - Link - Report abuse 0(37) Redrow
Jul 31st, 2014 - 09:16 pm - Link - Report abuse 0“You ask...:”Where is Think on today of all days?“
Well, I'm here at me humble Patagonian shed, still speaking in glowing terms about my boy Kicillof...
As I said some three days ago...:
”In about 72 hours, the “Leverage” some Banksters and Vulture Funds have had over Argentina during the last many years will be definitively gone...
In about 72 hours, Argentina will, yet again, be honouring her debts, depositing 650 million U$S in the Paris Club Bank account...
(Would luuuuuuuuuuuv to see them Banksters and Vulture Funds, through their loyal Yankee judge, Mr. Griesa, try to block that one... :-)))
In about 72 hours them Banksters and Vulture Funds can again start their futile chase of old sailships, commercial airplanes, weather satellites, nuclear reactors and embassy buildings again..., as they have tried more than 300 times during the past 10 years without any success whatsoever...“
http://en.mercopress.com/2014/07/26/cristina-fernandez-will-analyze-holdouts-case-during-her-stay-in-rio-gallegos#comment341147
Well.............., the 72 hours are gone, the ”Technical Default“ has come and the Banksters and Vulture Funds ”Default Leverage” over us Argies is also gone...
The 72 hours are gone... and Argentina did honour it's debt, paying some 650 million U$S to the Paris Club...
The 72 hours are gone..., the Vulture Funds will continue doing what Vultures do whilst we Argentineans will continue combating them...
All in all, in this old Chubutean humble opinion, a complete Win-Win situation for Argentina...
@70 I guess you can refer to that as a win.
Jul 31st, 2014 - 09:40 pm - Link - Report abuse 0When you are already on the floor it is a bit hard to fall any further.
71 Klingon
Jul 31st, 2014 - 10:11 pm - Link - Report abuse 0Not too long ago, CFK et al were adamant that they weren't going to pay Repsol or the Paris Club anything - now in the past 3 mos., an 11th hour reversal, payment,
and suck-up, when they realised they were in serious trouble.
Well, Thinko, how's the bumpy, but inevitable decline of the Argie Peso and stock market?
@70 Think
Jul 31st, 2014 - 10:17 pm - Link - Report abuse 0As I pointed out yesterday, the fact they are still sending payment to the PC would only make sense if they were hoping on settling with the holdouts.
I agree that they have possibly reduced the ”Default Leverage” some by going in to quasi-default (#kretinasfault), but Singer still hasn't blinked and you're still not yet in default (the markets are behaving as if an agreement is still forthcoming).
I am sure even a humble old Patagonian (even a 1st generation implant) can see that this is not a win-win.
70. We're Winning by Losing. We're #1 in making our citizens poorer and dumber every year.
Jul 31st, 2014 - 10:30 pm - Link - Report abuse 0That should be the new Arg tag line.
creepy weirdo
I hope you realize the Chinese loan isn't going to happen until you're out of default and neither will the Paris Club credit.
Cash in Advance...thanks
Think when a ship first sinks and the crew takes to the sea, treading water us no big deal.......for the first few hours. Just wait until the hours turn to days the days to weeks.
Jul 31st, 2014 - 10:38 pm - Link - Report abuse 0As for honoring their debts how do you suppose they will do that with the restructured debt without the bondholders owner of record information?
Apparently the deal wasn't made because Kicillof made his speech critisizing Griesa and the vultures while the banks were still negotiating with the holdouts, according to La Nacion.
Jul 31st, 2014 - 10:59 pm - Link - Report abuse 0So did CFK want default perhaps? It could earn her some support both from the lower and middle classes and from the left, who does not even recognize foreign debt as legitimate and wanted to default until all the debt is audited so only “legitimate” debt was paid.
75
Jul 31st, 2014 - 11:04 pm - Link - Report abuse 0Pops....Im sure if the owners of the bonds want paying. they would soon make themselves known...wouldn't you...?
...I would.
Think. You know about repossessions don't you? I know CFK does because she used to be a Real Estate Vulture Lawyer. The bailiffs will be around shortly to take your stuff and sell it off. Before, they didnt have the legal ruiling to do so. Now they do. Ask CFK, she will tell you how to take people's property when they are in default and sell it off for a huge profit. Vulture that she is....
Jul 31st, 2014 - 11:15 pm - Link - Report abuse 0“ ”Judge Griesa took the side of the vulture funds throughout the negotiations, and not our side, despite our generous offer of a bribe in Pesos. As I mentioned before, the negotiating table was tilted towards them, and not us, which Cristina told me to say,“ he said in a news conference.
Aug 01st, 2014 - 12:25 am - Link - Report abuse 0”We remain open to dialogue,“ Mr Kicillof said, ” but only if it is convenient to my shopping trips to Park Avenue, and perhaps Rodeo Drive in Beverly Hills.
I obviously need a new hair style, the word haircuts being only for Gringos, and perhaps a tie for Mama to tie for me, as I don't know how. “
” Anyone who says anything different, like sitting down and actually negotiating our many previous defaults and 12 year unpaid debt, is incompetent, will be reported to the Hague Court, pushed chained out of a helicopter at sea, or perhaps both. ”
( Or all three as I lost count of what I was saying again. ).
Kisses,
Axel
77. You have a very hard time understanding the difference between possible and practical.
Aug 01st, 2014 - 12:38 pm - Link - Report abuse 0Just like Think
Voice it hardly matters who comes forward........the official registry is the only names that matter and without, no one gets paid. ANd that is in the hands of the US Trustee and they will not release it unless Griesa allows it to be released. So they really cannot pay anyone at all with it.
Aug 01st, 2014 - 01:45 pm - Link - Report abuse 0Dear Elvis Kissoff: It must be unpleasant to submit to the jurisdiction of a tribunal in which you have no confidence. In the future - to avoid this - comply with the provisions of those previous contracts by which you are bounden. On a positive note: We would like to help replenish your reserves. If we can exchange dollars for pesos at the “arbolito” (-minus a small haircut of about 75% or so-) we will head south as we are very interested in purchasing vast quantities of porteno cheesy pizza, malbec and palamino polo ponies. Can you pick us up at Jorge Newbery? [Hey, bring some choripan and Quilmes with you. OK? We'll pay you later! ]
Aug 02nd, 2014 - 05:28 pm - Link - Report abuse 0Your Gringo Amigos!
As yankeeboy said earlier;
Aug 02nd, 2014 - 11:56 pm - Link - Report abuse 0“ you can't fix stupid”
A rather succint summary to this entire debate, methinks.
Elvis is not stupid.
Aug 03rd, 2014 - 12:15 am - Link - Report abuse 0He is delusional.
He is bound and determined to demonstrate that a protectionist, command economy can work if it has an over abundance of resources, inspite of an hyper entitled proletariat.
Sr. Kissoff, your gringo amigos salute and wish you all of the successes of your visionary utopia - Venezuela.
Kicillof blames Judge Griesa for the 'no-deal' situation with holdouts
Aug 03rd, 2014 - 10:32 pm - Link - Report abuse 0Well, he would wouldn't he?
That nasty horrible judge trying to take away what Kicillof et al has rightfully stolen!! Of course he's going to blame him.
It's a good job the rest of us know the real story isn't it?
Blame the judge eh? The judge interprets the law. So blame the law, you know, the one that Argentina agreed to abide by when they signed the contract in NYC.
Aug 04th, 2014 - 12:20 am - Link - Report abuse 0They are so used to being able to influence the judges at home they really struggle when faced with an independent judiciary.
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