MercoPress. South Atlantic News Agency
Singer extends 'discovery' looking for Argentine assets in Chinese banks
As it did in Nevada and California, a unit of billionaire Paul Singer's Elliott Management, which is Argentina's main holdout creditor, is extending its legal fight with the country to China. NML Capital served subpoenas this week to Bank of China (BOC) and Industrial and Commercial Bank of China (ICBC) in an effort to obtain information on 6.8bn dollars in financing for deals signed by the two countries in July. Read full article
Comments
Disclaimer & comment rulesGame on Cretina. Touche! Want a change of venue to the court of public opinion? News flash, rotting roadkill: You're losing there too.
Aug 29th, 2014 - 08:17 am - Link - Report abuse 0It's pretty clear that Singer is as much on a crusade to keep international finance honest as he is concerned about the money.
Aug 29th, 2014 - 08:52 am - Link - Report abuse 0They are not looking for argentine assets ,they are looking for assets stolen from the government in the hands of Cretina.
Aug 29th, 2014 - 09:03 am - Link - Report abuse 0When they get closer to Cristina then she will be forced to pay or the money trail will come to light, it will be very embarassing for her personnally. Best pay up before the shit hits the fan.
Aug 29th, 2014 - 09:27 am - Link - Report abuse 0The paper shredder and piano wire manufacturers will - in years to come - remember these times with great fondness.
Aug 29th, 2014 - 10:24 am - Link - Report abuse 0@2. Amazingly, when you research FACTS, it seems to be well known that Singer is keen on honesty. In 2003, Elliott Management led the fight against Proctor & Gamble when it believed P&G was not offering a fair price to Wella shareholders. Elliott won.
Aug 29th, 2014 - 10:47 am - Link - Report abuse 0In 2005, Elliott joined other hedge funds in opposing the sale of Shopko at US$24.00 per share. In the end, Elliott participated in the purchase at US$29.00 per share. What sort of “vulture” insists on paying more?
Human resource consulting company Adecco announced in January 2006 it had secured a 35 percent stake in DIS AG, at a price of €54.5 per share, making an offer at that price for all shares. The company also announced that the DIS CEO and CFO had signed lucrative management agreements that eventually would make them CEO and CFO, respectively, of Adecco. Adecco attempted to de-list DIS but was blocked in court by a number of hedge funds, including Elliott. The funds also raised concerns about conflict of interest by the CEO and CFO. Eventually Adecco offered €113 per share, which was accepted.
And so it goes on. Research shows honesty and integrity. Even if it costs. Unlike argieland.
If only The Dark Country had Singer as President and his employees as the government, plus the US army to stop the mafia taking over, then the poor befuddled idiots in the country would have a chance.
Aug 29th, 2014 - 11:49 am - Link - Report abuse 0Comment removed by the editor.
Aug 29th, 2014 - 01:58 pm - Link - Report abuse 0Heroes indeed for rotting roadkill is one of the darkest, most morally depraved corners of the world.
Aug 29th, 2014 - 02:07 pm - Link - Report abuse 09 boludo
Aug 29th, 2014 - 02:19 pm - Link - Report abuse 0so soros is a hero for you?
i know he caused the bankruptcy of the most morally depraved corner of the world in 1992 with the black wednesday, but that does not make him a hero, you imbecile.
Meet a small subset of German holdouts (from one end of the list, A-B ): Hans-Eberhardt Bastian, who had invested € 342,500 (US$ 445,200), Stefan Bauer € 267,000 (US$ 347,100), Hermann Beck € 345,500 (US$ 449,100), Hank van Blokland € 30,200 (US$ 39,200), Ricarda Böhme € 47,000 (US$ 61,100), who filed lawsuits in Frankfurt a.M., Germany.
Aug 29th, 2014 - 02:22 pm - Link - Report abuse 0As anyone can understand, with those huge investments (to a clinical Argentine idiot, let's take Paulito Cedrons-Tonto as an example) one must be a super-rich hedge fund if one can invest as a huge sum like US$ 61,100 (844 000 Argentine pesos) in something.
Comment removed by the editor.
Aug 29th, 2014 - 02:39 pm - Link - Report abuse 0Comment removed by the editor.
Aug 29th, 2014 - 02:48 pm - Link - Report abuse 0#5 Orbit
Aug 29th, 2014 - 02:53 pm - Link - Report abuse 0“The paper shredder and piano wire manufacturers will - in years to come - remember these times with great fondness.”
You forgot the popcorn industry fellows...
The delusions of grandeur of Singer have now become entertaining. I hope (and expect) him to keep overreaching and trying to open court battles in countries all over the world.
Aug 29th, 2014 - 02:58 pm - Link - Report abuse 0Just wait when the rest of the world gets “tired” of Singer dictating their foreign policy to Argentina (and by extension Latin America). He will be crawled back to his stygian cave never to be heard from again.
@2
So you would have also thought that it would have been an “honest crusade” if Hitler had survived and later launched human rights complaints against Pol Pot.
Just as you are ok with the UK calling out other countries on aggressive, belligerent behavior or unethical banking practices.
The lack of decency is shocking and beyond reprehension.
11 Don Alberto
Aug 29th, 2014 - 03:09 pm - Link - Report abuse 0”As anyone can understand, with those huge investments (to a clinical Argentine idiot, let's take Paulito Cedrons-Tonto as an example) one must be a super-rich hedge fund if one can invest as a huge sum like US$ 61,100 (844 000 Argentine pesos) in something.”
Don,
Morally reprehensible to command such vast sums of money!!
What kind of people are these??!!
Obviously, it's only OK for Argentina to keep those sums, for the good of the people of course.
Shame shame, on those who want their money back.
I guess that makes Sewage Surfer Pablo- niño, a pelotudo.
@11
Aug 29th, 2014 - 03:18 pm - Link - Report abuse 0HOW ABOUT ARGENTINES GETTING THEIR BANK DEPOSITS FROM 2001 BACK FROM THE INTERNATIONAL BANKS THAT WERE SUPPOSED TO BE INFALLIBLE YOU PATHETIC IMBECILE????
WHY SHOULD BONDS BE MORE SECURE THAN A BANK DEPOSIT????
Say hello to a couple of super-rich Italian holdouts like Giannandrea Leonardi, whose family inherited 115,000 euros worth of bonds that his father bought in 1998; and to Egidio Rolich, 59, who bought about 40,000 euros of Argentine bonds in 1998 with the proceeds from the sale of an apartment and his wife’s severance pay …
Aug 29th, 2014 - 03:26 pm - Link - Report abuse 0€ 40 000 = 760 000 Argentine pesos (820 000 next Monday) - the father must indubitably have been a super-rich billionaire hedge fund, not to mention 115 000 = 2 185 000 AR$ (2 480 000 next Monday) - incredible sums for an Argentine earning 42 000 AR$ (€ 2 200) a year!! (€ 2 000 next Monday).
Hm, can one have a hedge fund as one's father? never mind, we hav eviveza criolla to cover our a*ses
@18
Aug 29th, 2014 - 03:33 pm - Link - Report abuse 0You are a sucking turncoat.
You want the rich foreigners to get their money back, but what about the thousands of Argentines that lost their savings with foreign backs? How about they getting their money back?
Oh, you don't care about them, f--ck them right?
I hope lose all your money.
All the wants you waste.
Aug 29th, 2014 - 03:36 pm - Link - Report abuse 0All the things you chase.
Poor idiot child Tobias,
Aug 29th, 2014 - 03:54 pm - Link - Report abuse 0€ 40 000 is the annual income of an office worker in Northern Europe, and 115 000 is what I made as a licensed engineer consultant in the rather bad year 2009. If one thinks of it as a fortune, it's not really money.
The standard monthly income in Argentina, around AR$ 4 500/month is what people in Northern Europe spend on food per person every month.
@21
Aug 29th, 2014 - 03:58 pm - Link - Report abuse 0And you want those people to get their money back PLUS interest, yet you have no problem with all the Argentines that lost BANK DEPOSITS at the hand of foreign banks?
What does that say about you as a person?
You don't have to tell me anyway. I think the turpitude is luculent.
Poor idiot child Tobias,
Aug 29th, 2014 - 04:06 pm - Link - Report abuse 0which banks in France, Germany, the US, the UK, etc., etc., etc. kept the bank deposits of Argentines?
Note 'banks IN ...' because “international” banks in Argentina, e.g. Bank of New York Mellon, are Argentine, and no more international than e.g. the “Peruvian” restaurant 'Flor de la Canela' in Juan B Justo in Mendoza.
€2,000 a year?
Aug 29th, 2014 - 04:09 pm - Link - Report abuse 0There is the result of the won decade!
@23
Aug 29th, 2014 - 04:14 pm - Link - Report abuse 0If you are so sure about your BS philosophy, why do you have to obfuscate and obnubilate so much instead of expressing your redactions in pithy terms?
All the banks operating in 2001 FLEECED the Argentine people, who invested no in stocks, not in bonds, but in a BANK DEPOSIT.
I don't expect the foreigners here to care one ounce about the Argentine people, much less to care about their obvious hypocrisy and double-standards, but you?
You deserve to be called turncoat.
Your crap about “international” banks in Argentina not being international is an insult to me and as such I can insult you all I want. Those banks were international, when they made their tidy profits in the 1990s, WHERE DID THEY SEND THEIR PROFITS MADE IN ARGENTINA, HUH???
When it was time to cover some loses, they hid behind the corralito. Yet another example of privatizing the profits (to Madrid, Frankfurt, Milan, Paris, and London), and socializing the loses (not covering the deposits they were entrusted to protect).
I know I am getting nowhere because you and the others here don't give a fuck neither about those Argentines, nor about any argentine, nor about honor, or at least about consistency (as in ”if Singer et al should be paid in full, why shouldn't poor argentine deposit holders).
Get out of here.
@22
Aug 29th, 2014 - 04:16 pm - Link - Report abuse 0“...all the Argentines that lost BANK DEPOSITS at the hand of foreign banks?”
Actually it looks like the foreign banks got taken to the cleaners like everybody else. This is starting to look like an MO. ;)
https://economics.rabobank.com/publications/2013/august/the-argentine-crisis-20012002-/
Yes, except the government to make this very accurate equivalency. You just heard it here first.
Aug 29th, 2014 - 04:28 pm - Link - Report abuse 0Poor idiot child Tobias, who wrote: “Your crap about “international” banks in Argentina not being international is an insult to me”
Aug 29th, 2014 - 04:29 pm - Link - Report abuse 0Which is precisely why I call you a poor idiot child. You have no knowledge of the real world. Although you pretend to have, we human beings can tell the difference.
“The Office of the Superintendent of Financial and Exchange Institutions has revoked the authorization for the bank of New York Mellon to operate in Argentina.” ... The resolution revokes >>> the authorization given by the national government to Mariel Verónica García Sturzenegger and María de la Cruz Solares to “act in the country in the name and representation of The Bank of New York Mellon”
@28
Aug 29th, 2014 - 04:32 pm - Link - Report abuse 0Yet it's your fourth response and you still cannot respond to the basic question: Why shouldn't the bank depositers get THEIR money back in full?
I will give the answer: because Don Alberto is a foreign boot-licker who gives a rat's ass about ordinary Argentines. And as such he is far more passionate about rich teachers in Germany and Italy getting their speculative money back, than about poor teachers in Argentina getting their CASH SAVINGS back.
That says it all right there.
The International Capital Market Association (ICMA) has today published revised and updated collective action clauses and a new standard pari passu clause for sovereign debt securities. The use of these new terms in government bonds is intended to facilitate future sovereign debt restructurings.
Aug 29th, 2014 - 04:37 pm - Link - Report abuse 0Collective action clauses allow a majority of bondholders to agree to changes in bond terms, for example to extend maturities or reduce principal, that are legally binding on all holders of the bond,
including those who vote against the restructuring. ICMA’s new standard collective action clauses provide a practical solution to the problem of blocking minorities through the inclusion of aggregation mechanisms, which allow voting across multiple bond issues.
The interpretation given to the pari passu clause in the Argentina litigation has caused considerable uncertainty for future sovereign debt restructurings. ICMA’s new pari passu provision details clearly the scope of its application, thereby reducing the risk of the pari passu clause being a basis for disrupting future sovereign debt restructurings and raising concerns with inter‐creditor equity.
Comment removed by the editor.
Aug 29th, 2014 - 04:41 pm - Link - Report abuse 031 Don
Aug 29th, 2014 - 04:53 pm - Link - Report abuse 0“So tell us, oh so caring poor idiot child Tobias, precisely what are you doing to help these starving people - or don't you give a rat's arse about indigenous Argentines?”
Don't waste your breath.
I asked him the same thing last week and his response was,“it's their own fault they are poor, not my concern”
He was criticising foreign aid workers in Argentina for feeding and caring for malnourished ARGENTINE toddlers in a relief centre in Mendosa.
32 Troy
Aug 29th, 2014 - 04:57 pm - Link - Report abuse 0don't worry, I don't hold my breath waiting for an answer from a liar like Tobias. I am only playing with the idiot savant while I am sitting idly, sipping Darjeling Oolong 2nd flush and giggling over his childish posts.
30 Pablo-niño
Aug 29th, 2014 - 05:06 pm - Link - Report abuse 0”The interpretation given to the pari passu clause in the Argentina litigation has caused considerable uncertainty for future sovereign debt restructurings. ICMA’s new pari passu provision details clearly the scope of its application, thereby reducing the risk of the pari passu clause being a basis for disrupting future sovereign debt restructurings and raising concerns with inter‐creditor equity.”
So, how do you think the lenders will react?
Higher risk for them, with greater potential for debtors to walk away from paying back the full amounts, will result in access to credit being more difficult.
Less available credit to those with poor credit history, and higher borrowing costs.
@31
Aug 29th, 2014 - 05:20 pm - Link - Report abuse 0Well my mentally nullified friend, if 95% don't know what Argentina is or where it is located, then what you are saying is that 3.5 billion people on July 13th were utter imbeciles, because they didn't even know who was one of the teams playing in the most watched sporting game in human history.
YOU F______ FOOL, I would suggest you think for a half-second about what you are about to write. You racist T---
Poor idiot child Tobias wrote: “Yet it's your fourth response and you still cannot respond to the basic question: Why shouldn't the bank depositers get THEIR money back in full?”
Aug 29th, 2014 - 05:25 pm - Link - Report abuse 0Quoting poor idiot child Tobias's own answer: “it's their own fault ... not my concern”
.
Now tell us, poor idiot child Tobias, when the resolution revokes the authorization given by the national government to Mariel Verónica García Sturzenegger and María de la Cruz Solares to “act in the country in the name and representation of The Bank of New York Mellon” ... is this “international bank”, The Bank of New York Mellon, actually international?
Your homework for tomorrow: examine so-called international banks in Argentina - is any of them actually international, or are they Argentine franchises?
@36
Aug 29th, 2014 - 05:28 pm - Link - Report abuse 0Well my mentally nullified friend, if the international banks are “Argentine franchises”, the bonds issued by Argentina in New York are “New York State franchises”.
In other words, Argentina has nothing to do with them.
Poor idiot child Tobias,
Aug 29th, 2014 - 05:34 pm - Link - Report abuse 0the Argentine team was playing in BRASIL - didn't you know? ... and Brasil is not Argentina - didn't you know?
To know that the Argentine team was playing in Brasil (as did lots of different teams) is not the same as knowing where Argentina is (although many probably got the idea that Argentina is some tropic Brasilian province near Zimbabwe) - or can't you tell the difference, you poor idiot savant?
Poor idiot child Tobias (I regret to admit he is Mendocino, as all the other Mendocinos are quite normal human beings) tells us: “the bonds issued by Argentina in New York are “New York State franchises”.”
No, my poor idiot savant, the bonds were issued by the Argentine government UNDER New York LAW, as they would have been impossible to sell under viveza criolla law.
Comment removed by the editor.
Aug 29th, 2014 - 05:42 pm - Link - Report abuse 0Poor idiot child Tobias wrote: “YOU F______ FOOL, I would suggest you think for a half-second about what you are about to write. You racist T---”
Aug 29th, 2014 - 05:43 pm - Link - Report abuse 0Getting exited, are we?
Even though you are a knob of only 21 years, you must watch your blodpressure.
#25
Aug 29th, 2014 - 05:47 pm - Link - Report abuse 0So good to see you enlightening our group with your brilliant observations!
I've written a comment in your language so you might understand ours...
What's pathetic about 4n conTroll's lack of understanding of business philosophy is his inability to obfuscate and obnubilate his adolescent ravings in pithy terms.
All the banks operating in 2001 EDUCATED the Argentine people, who voted for Peronisim, not in honest and pragmatic leaders and forfeited their BANK DEPOSITS in Dollars.
I don't expect the Argentinians here to care one ounce about the bond holders, much less to care about their obvious hypocrisy and double-standards, because they themselves caused their own problems.j
You 4n conTroll, deserve to be called a complete idiot.
Your diarrhea about “international” banks in Argentina not being controlled by Peronists is an insult to common sense and as such I can insult you all I want. Those banks were international, when they made their tidy profits in the 1990s, WHERE DID the Peronist cronies SEND THEIR PROFITS swindled IN ARGENTINA, ...well maybe into Swiss, Panamanian, Cayman Island, Uruguayan and Luxembourg bank accounts.
Of course, as you empowered the crooks, when it was time to cover some loses, they hid behind the corralito. Yet another example of privatizing the profits (to Zurich, Santiago, Madrid, Montevideo, Frankfurt, Milan, Paris, and London), and socializing in Punta del Este (and laughing at the voters who elected them).
I know I am getting nowhere because you 4n control know just about nothing of the real world and instead of understand that the Argentines have no one else to blame except themselves. Terms, such as honor, honesty, determination and or at least about consistency just don't register with most your countrymen. Thankfully Paul Singer is here to remind you, that when you borrow, be careful because they will expect to be paid in full, or they might get a nasty spanking.
Have a wonderful remainder of the day!
@17. Would it be worth pointing out to you the meaning of the word “bond”? Probably not. You'd have to be bright enough to be able to put together a 4-piece jigsaw.
Aug 29th, 2014 - 05:49 pm - Link - Report abuse 0@19. Perhaps your “country” shouldn't be such an abusive, corrupt, criminal, degenerate, depraved, discourteous, dishonest, larcenous, mendacious, necrophiliac, putrid, tawdry, vicious, weaselly, xenophobic place. It might also help if, apart from the indigenes, there were people there.
@22. Perhaps argie “nothings” could have restrained their greed.
@25. Hahahahahahaha, asshole. “If you are so sure about your BS philosophy, why do you have to obfuscate and obnubilate so much instead of expressing your redactions in pithy terms?” Let's be clear. You are probably this board's expert on BULLSHIT since you dribble so much of it over your fat gut. Still trying to “impress” with your vocabulary whilst demanding others use “pithy” terms? Still trying to “obfuscate” whilst using “pissing” terms? A courteous person would suit their language to the expressed norm. Only a smart ass with no real erudition would do otherwise. Let';s get something straight. There are very few honest, intelligent, respectable people who give a shit about argies. You can all curl up and die tomorrow and make the world a better place. Whenever I have the misfortune of detecting a disgusting stench, I automatically think of argieland.
@29. Exactly who do you think cares about the argies that benefited from their government's criminal activities? I speak for myself. They can all die. In fact I want to see graphic pictures of argies dying of hypothermia, hyperthermia, starvation, cannibalism and every other possible END.
@30. So? No “law” can be retrospective. Stuff the ICMA up its own arse.
#42
Aug 29th, 2014 - 06:11 pm - Link - Report abuse 0Ok Conqueror, I thought my takedown of #25 was a decent hit, but your thermonuclear missile is total destruction of the little troll.
Sorry ## 42 and 43
Aug 29th, 2014 - 06:18 pm - Link - Report abuse 0Idiot children and idiot savants like Tobias are completely fact resistent, their skulls are made of solid bone. It's only fun for a short time. Mine has ended now.
@42
Aug 29th, 2014 - 06:24 pm - Link - Report abuse 0“..., necrophiliac, ...”
Where are Peron's hands, anyway? ;)
#44
Aug 29th, 2014 - 06:32 pm - Link - Report abuse 0I've enjoyed your comments and links.
Debating with our friend is like poking a caged animal with a sharp stick.
Lots of growling and hisses, but nothing substantial and truthfully it's just too easy...
It is not paulcedron's fault that he is so very late with the news that “Collective action clauses allow a majority of bondholders to agree ... legally binding on all holders of the bond,”, as ICMA only woke up to the real world of sovereign debt this year.
Aug 29th, 2014 - 06:37 pm - Link - Report abuse 0Since 2005, 206 out of 211 contracts of sovereign bond debt has included a 'collective action clause', which says that if a supermajority of the bond holders acccept a swap (including those with a haircut), then all bond holders are bound by it. Holdouts has been a thing of the past since 2005.
Why didn't the Argentine swap contracts contain this clause? because they were bound by the original bond contracts from the years (before) 1994 through 2001; you cannot just swap sovereign debt any old how.
“It is not paulcedron's fault that he is so very late with the news that “Collective action clauses allow a majority of bondholders to agree ... legally binding on all holders of the bond,”
Aug 29th, 2014 - 06:52 pm - Link - Report abuse 0so very late?
it is a press release dated friday 29 august 2014, you dumbass
Press release
News from the International Capital Market Association (ICMA)
Talacker 29, P.O. Box, CH-8022, Zurich
www.icmagroup.org
Please see foot of release for contact details
Friday, 29 August 2014
For immediate release
ICMA publishes revised collective action clauses (CACs) and a new standard pari passu clause to
facilitate future sovereign debt restructuring
So now we know that Paulito-Tonto doesn't know that the year 2005 came before the year 2014.
Aug 29th, 2014 - 07:03 pm - Link - Report abuse 0As I wrote: “Since 2005, ... 'collective action clause' ... Holdouts has been a thing of the past since 2005.” 2005 (dos mil cinco), my fault as I assumed Paulito-Tonto can read and knew at least the general succession of numbers.
imbecile don alberto
Aug 29th, 2014 - 07:42 pm - Link - Report abuse 0it seems you do not understand the concept of new standard, do you nabo?
the pari passu clause exists since the origin of the times.
the thing is that NOW, since august 29 2014, the new CACs are the norm.
got it now, naboletti?
(48) paulcedron
Aug 29th, 2014 - 07:47 pm - Link - Report abuse 0Them NEW INTERNATIONAL RULES you mention, are much more important for Argentina and the World than Turnip at (47) wants you to believe...
1) 93% of the 2001 Argentinean defaulted debt has been duly restructured and is being duly paid...
2) 6% of the “Holdouts” have no firm sentence so far and their eventual legal cases will be very much affected by them above mentioned NEW INTERNATIONAL RULES...
3) The remaining 1% (Mr. Singer & Co.) and their own private Yankee judge, the not so honourable Mr. Griesa, will find it increasingly difficult to stop payments to the Bona Fide Holdins and to chase Argentinean Sovereign Interests anywhere in the World after the implementation of them NEW INTERNATIONAL RULES...
4) In the worst of cases... (God Forbid...) the Vultures could end getting those ill gotten 1.6 billion dollars mentioned in Griesa ' s ruling..., all in all, a very manageable situation and a big political victory for Argentina against them Banksters...
Saludos Nat & Pop
El Think
think
Aug 29th, 2014 - 07:52 pm - Link - Report abuse 0exactly.
spot on
Like I said, poking caged animals with pointed sticks...too easy.
Aug 29th, 2014 - 08:04 pm - Link - Report abuse 0(53) Chicureo
Aug 29th, 2014 - 08:13 pm - Link - Report abuse 0Some questions...:
¿Did you ever poke a caged animal with a stick?
¿Was it easy to do?
¿Was it fun?
Last but not least...:
¿Who was the animal?
51. Unfortunately the worse case scenario is much worse than you think. If Argentina refuses to pay another interest payment the holdins will accelerate. They will demand more and better terms than what arg is currently paying.
Aug 29th, 2014 - 08:15 pm - Link - Report abuse 0Bcra is almost out of cash.
The choice very soon will be fuel, parts or food.
Good luck
:)
So you see your default as not “necessary” but an attempt to get a “victory” against international banks.
Aug 29th, 2014 - 08:20 pm - Link - Report abuse 0Excellent.
I agree.
Therefore no international institution, company, individual or entity should ever lend, invest or do business with Argentina...as, as Think says...Argentina sees any attempt to cheat, lie, default or destroy any legally binding agreement as a “victory”.
Just like Thinks admission that only 55 people were evicted on Jan 6th 1833 from the Falklands and they had all arrived just 6 weeks only...and this is in the “Argentine National Archives”
His admission that defaulting, renaguing, lying, cheating and thieving is “a victory” for Argentina...is yet another truthful insight.
Thanks Think, your insight is as retarded as usual, but you are too stupid to see its honesty.
Like Chicureo says at (53)... poking caged turnips with pointed sticks...too easy.
Aug 29th, 2014 - 08:37 pm - Link - Report abuse 0So how much “argentine” money Paul Singer found in Nevada? __0___
Aug 29th, 2014 - 10:10 pm - Link - Report abuse 0@51
Aug 29th, 2014 - 10:48 pm - Link - Report abuse 0If you're Argentina there's always some cavalry somewhere over the hill galloping to the rescue. But them there NEW INTERNATIONAL RULES will be remarkable indeed if they're to be applied retroactively to exonerate Argentine from its legal obligations.
I notice that a couple of mentally deficient Argentines are unable to understand, that the “new international rules” have been used since 2005 when sovereign bonds have been issued.
Aug 29th, 2014 - 11:01 pm - Link - Report abuse 0In the real world they have been used these last app 8 (eight) years by every state in the world except for 5 instances of Jamaican bonds.
2005 is 8 (eight) years ago.
The “new” rules hav ebeen used for the last 8 (eight) years.
If you still don't understand, have your mothers explain it.
Who cares about pre or post 2005 rules. Argentina has rejected the rules, as they are clearly designed to bring Argentina down.
Aug 29th, 2014 - 11:40 pm - Link - Report abuse 058
Aug 30th, 2014 - 12:07 am - Link - Report abuse 0Good point...the usual reason for casting a bigger net is you got feck all from the first one...best of luck with the Chinese....my bet is the Chin will ignore it. I very much doubt the US is in a position to be annoying them....
Even if Singer thinks he has found something, he then has to prove it doesn't infringe Argentina's Sovereign immunity.....
Best of luck...see you in another decade....
(58) Good point indeed Mr George J.
Aug 30th, 2014 - 01:55 am - Link - Report abuse 0They found “Zilch” = “Nada” Argentinean Government money in Nevada ' s “Discovery Case”case against Mr. Lázaro Baez...
As a matter of fact, they haven't found any money at all...
Just to keep things clear..., let us “remember” my opinion about Mr. Lázaro Baez...:
http://en.mercopress.com/2014/06/19/massive-demonstration-in-support-of-prosecutor-suspended-for-investigating-kirchner-family-dealings#comment333318
Anyhow.... One of the few positive things coming out of this “Vulture Discovery Case” against Argentina is the demystification of the many grossly exaggerated stories about corruption fortunes being made/stolen in today's Argentina...
Saludos
El Think.
Comment removed by the editor.
Aug 30th, 2014 - 03:41 am - Link - Report abuse 0#54 Think
Aug 30th, 2014 - 05:30 am - Link - Report abuse 0The saying is not really linked to one of my personal experiences and is commonly used by many (just google it)
Alas, as a boy, my father brought a captured degu for us to observe, who stayed in a corner and seemed to sleep. My brother and I were guilty in pokin g the same with pointed sticks until our nanny caught us and the resulting pain to our buttocks was painful. We all have our dark pasts, my worst was placing manteca in my commanding officer boots, and then refusing to confess.
(65) Chicureo
Aug 30th, 2014 - 06:20 am - Link - Report abuse 0Gooooooooooooood Nanny...
¿Wonder who She voted for, some 44 years ago...?
¡Forty four years! Fugit Irreparable Tempus, hermanito...
@10 mamarracho
Aug 30th, 2014 - 06:39 am - Link - Report abuse 0“i know he caused the bankruptcy of the most morally depraved corner of the world in 1992 with the black wednesday, but that does not make him a hero, you imbecile.” This grave suggestion by you just what a tiny mind you have!
What evidence do you have that the UK is “most morally depraved corner of the world”?
Think,
Aug 30th, 2014 - 06:42 am - Link - Report abuse 0My beloved nanny, who was invited to both my commissioning and my wedding as a family member was a rabid supporter of Radomiro Tomic in the presidential elections.
(68) Chicureo
Aug 30th, 2014 - 07:14 am - Link - Report abuse 0Good for you, she doesn't read MercoPress...
Your buttocks would be glowing red..., I reckon ;-)
http://en.mercopress.com/2014/08/18/chile-not-proud-of-falklands-war-support-but-proud-of-peace-treaty-with-argentina#comment345434
Singer hasn't found anything in a week ot two. He's got all the time in the world to track down the scumbag's money. He's just getting started.
Aug 30th, 2014 - 10:29 am - Link - Report abuse 0Idiots.
Elliot's Jolly Roger is now plying the South China Sea desperate for lost booty. Methinks these lads may run aground.
Aug 30th, 2014 - 11:34 am - Link - Report abuse 071. I think RGs are always wrong on how things will roll out because they really don't understand how the real world works.
Aug 30th, 2014 - 12:10 pm - Link - Report abuse 0I think this is why they're blindsided and forced to backtrack.
They're not a smart people never seeming to learn from past mistakes.
(71) El Polaco
Aug 30th, 2014 - 12:36 pm - Link - Report abuse 0“ I think RGs are always wrong on how things will roll out because they really don't understand how the real world works. I think this is why they're blindsided and forced to backtrack. They're not a smart people never seeming to learn from past mistakes”....... says poster (71), Mr. Fred Bates, bold Yankee realtor from Watchington, USA..., that....... BELIEVE IT OR NOT......, is legally married to a false blonde from...... BRACE, BRACE, BRACE....., Buenos Aires, Argentina....:-)))
R
Not a high opinion this Yank has about his latino Missus...., huhhhh?
Comment removed by the edit0r.
Aug 30th, 2014 - 02:07 pm - Link - Report abuse 0Its funny some personas on here care so much about who I am.
Aug 30th, 2014 - 02:44 pm - Link - Report abuse 0Why is that?
What's their motivation?
Is it sadness, loneliness , feelings of inadequacy?
One would think they'd call or write if they were so sure. Alas I've not ever received any contact from these worthless souls.
Won't be long before Singer closes in on some loot I think. He has more powerful connections than Cristina. Her crew are running scared, and getting ever more desperate in their squealing and wriggling.
Aug 30th, 2014 - 02:56 pm - Link - Report abuse 0Most unbecoming.
I think with the USA pissing off both Russia and China, it is time Argentina invite both the Chinese AND the Russian to open bases in Argentina.
Aug 30th, 2014 - 02:58 pm - Link - Report abuse 0Please do. What could be more entertaining than western countries having nuclear targets on Argentine soil? ;)
Aug 30th, 2014 - 03:25 pm - Link - Report abuse 0@75 They are baiting you and looking for something to target as they cannot defend the actions of their government. Or the fact that they voted them in power.
Aug 30th, 2014 - 03:44 pm - Link - Report abuse 0Yes it must be horrible after all of these years of defending the scumbags its clearly all falling apart.
Aug 30th, 2014 - 04:08 pm - Link - Report abuse 0I don't know why they can't admit I've been right all along
:)
@78
Aug 30th, 2014 - 04:17 pm - Link - Report abuse 0Really? So nuclear nations would target a non-nuclear nation? That's a violation of the nuclear treaty.
So either you don't point anything at us, or you violate the treaty which means we can go ahead and finish our nuclear program. We would be probably only 5-10 years away from a bomb.
I'm not for nuclear at all. I'm for a non-nuclear defense shield to make an attack on Argentina onerously costly.
You can't keep ships afloat or planes flying. Your ridiculous pipe dreams are an embarrassment.
Aug 30th, 2014 - 04:35 pm - Link - Report abuse 0BTW all your population and mfg is in 5 cities. Wouldn't take much to wipe you out.
That would be a “non-nuclear” nation hosting a nuclear capable military force. Kinda like Germany and Japan during the Cold War, and we all know what would have happened if that went “Hot.” As for the nuclear weapons program, again, please do. I leave it to you why I would suggest such a thing. ;)
Aug 30th, 2014 - 06:10 pm - Link - Report abuse 0@77 Trolley-pusher
Aug 30th, 2014 - 08:36 pm - Link - Report abuse 0So you want nuclear-weapon empowered nations to open bases on your soil?
You really haven't thought this through have you? What a facile comment. You just made yourself a target and the answer is to spend money you don't have on a missle defence shield you don't currently need. Meanwhile, who would hold the launch codes? Not Cristina, that is for sure.
You would sell your sovereignty and make yourself a legitimate target for what end? To have the oppotunity to attempt to build a bomb? You can't even keep your Navy afloat!
If you did attempt to use this 'bomb' what delivery system would you use? Not that good with rockets either from what I hear. Who would you use it against?
Your total destruction would be guarranteed. Unlike your bonds, arf!
Please consider the Cuban missile crisis. You really want to go there again? Mutually Assured Destruction? This must be your most ill-thought-out post so far, and it has serious competition!
You maybe intelligent but you are not educated.
No wonder Argentina is such a mess.
really! you are such a disappointment.
@71 He's not going to find anything in China.
Aug 30th, 2014 - 08:51 pm - Link - Report abuse 0@85
Aug 30th, 2014 - 10:14 pm - Link - Report abuse 0He doesn't have to, the fact that he is looking will make the Chinese cautious to say the least.
@85 I couldn't agree with you more, Magnus Master. That letter of Marque from Judge Griesa won't do Captain Singer a bit of good in Chinese waters.
Aug 30th, 2014 - 11:35 pm - Link - Report abuse 0But it will raise a few eyebrows in China methinks....
Aug 31st, 2014 - 12:07 am - Link - Report abuse 0@82
Aug 31st, 2014 - 01:24 am - Link - Report abuse 0OK, five nukes takes out 18 million argies out of 42.
15 nukes takes out 100 millon out of 300 million NorthAmoans.
http://en.wikipedia.org/wiki/List_of_Metropolitan_Statistical_Areas
That's such an onerous and insurmountable difference. hahahaha.
15 nukes and YOU are wiped out. I think maybe we should build them. Cheap way to threaten you back to the stone age.
@89
Aug 31st, 2014 - 01:39 am - Link - Report abuse 0Now you are arguing a ridiculous hypothetical.
Please don't waste your talents on such matters, you are worthy of so much more.
:)
I'm not interested in talking about nukes. I never bring them up.
Aug 31st, 2014 - 01:47 am - Link - Report abuse 0I do like symposiums and colloquy on EUian-NorthAmoan crimes against humanity. Let's discuss the matter, there is much material to cover.
@91
Aug 31st, 2014 - 02:45 am - Link - Report abuse 0Yep, uh huh, sure. That's why you brought up Argentine hosting military forces of nuclear powers based on their assumed hostility to the west. But let this be a lesson to you, there's a bright side to everything, even a general nuclear exchange. ;)
@91
Aug 31st, 2014 - 03:03 am - Link - Report abuse 0This thread is entitled “Singer extends 'discovery' looking for Argentine assets in Chinese banks”
Why would you wish to deflect?
Why not comment on the article in hand, or are you out of ideas?
Surely not, for a thrusting young man of such huge, virile talent?
Do force your point on me, I am panting with anticipation...
;-)
What is there to talk about when Mercopress makes updates on this story every 6 hours or so? How much can there be to discuss.
Aug 31st, 2014 - 03:09 am - Link - Report abuse 0Let's put it this way. It's September. That's two months since June 30th, and probably 50 Mercopress articles on Singer later... he still has not seen a cent.
Playing the long game perhaps? Seeking instant gratification is an Argentine trait?
Aug 31st, 2014 - 04:01 am - Link - Report abuse 0Talking of which, I am off to bed, I am sure we will catch up soon.
I can afford to wait.
Can you ?
heehee!
@94
Aug 31st, 2014 - 04:02 am - Link - Report abuse 0True, but your importers are now out over 4B and cannot import more without prepaying. Buenos Aires province, (and the rest for that matter,) are no longer able to issue bonds, and all of them are looking at shortfalls this year. The government is willfully hamstringing the agricultural sector, arguably the only thing that Argentina has going for it. Who cares if Singer can't get anything, that's not the real problem. Just looking on the bright side. ;)
@95
Aug 31st, 2014 - 05:13 am - Link - Report abuse 0The long game? Look at Singer's face. His long game can fit in the span of a decade. Then he will be DEAD.
@96
How is that bad? Didn't you all want Argentina NOT to be able to borrow, as punishment for being irresponsible? Well, there you go. Should be happy. Furthermore, it is good for Argentina long term that its politicians CANNOT borrow. If provinces have shortfalls, they can resolve the matter very quickly by balancing the budget, just as Mendoza has done in the past, which is why we didn't default on our bonds in 2001 along with all the other provinces (only Capital Federal can say that).
The more this drags on, the more you cut Argentina from the corrupt and criminal financial cabal that is destroying all your countries. I couldn't be happier.
Like I said, I am looking on the bright side. With the sardonic smile of a skull. ;)
Aug 31st, 2014 - 05:23 am - Link - Report abuse 0The next govt is going to have to clean house and fire loads of people. Argentina has 1mm more people working for the govt than the USA!
Aug 31st, 2014 - 12:30 pm - Link - Report abuse 0Its unsustainable.
There will soon be a reckoning and its going to be ugly.
The yankeeboy echo yet again.
Aug 31st, 2014 - 04:17 pm - Link - Report abuse 0A crate of birdshot until once every so often he hits the target. Then its 'told ya so'.
100. Its pretty specific. Plus did you see the clarin article today about Bcra owing U$2.5Billion for auto parts! I've been the only one talking about the fast approaching demise of auto mfg in arg.
Aug 31st, 2014 - 04:43 pm - Link - Report abuse 0Should be any day now when they lock the factory doors.
Any day now.
:)
Singer is not after money from Chinese Banks, he's after the details of what has been agreed with TMBOA over the financing agreements with Argentina for dams and railways. Does anyone think the Chin are going to 'loan' TDC any money after this. If it doesn't disappear into TMBOA maw, it will be attached by Singer.
Aug 31st, 2014 - 07:57 pm - Link - Report abuse 0And in Clarin today:
“Vulture funds now going Florencia Kirchner: how the daughter of the president solved her expenses while living in the Big Apple and studying at the New York Film Academy.
In particular how she could afford the apartment in 580 Park Avenue, owned by a former JP Morgan executive, Argentine Ramon Oliveira Cezar.”
Oh, dear! I think we know the answer though, don't we?
Axel Kicillof travels to China to salvage payments.
Sep 01st, 2014 - 08:48 am - Link - Report abuse 0“ the contract for loans described in paragraph 21 of Article 7, based on non-compliance, that ”any fact or condition that results in the acceleration of the maturity of any external public debt, or if Argentina fails to make any pay principal or interest when due, or declares a moratorium or suspension of payments in any portion of its external public debt 'will be considered “cross-default”.
Although Argentina insists they are not in default, the Chinese rating agency believes they are.
http://www.ellitoral.com/index.php/diarios/2014/08/31/economia1/ECON-02.html
I don't know what good it'll do to go to China to beg for what, Yuan? They're not getting the u$ they need to pay for imports. It seems like it will be another time to embarrass themselves and come back dissapointed.
Sep 01st, 2014 - 12:23 pm - Link - Report abuse 0They're flooding their failing economy with pesos hoping it will restart business. It won't, so all they're doing is increasing inflation.
Their stupidity and lack of common sense boggles the mind.
They have no clue how things work in the real world.
@ 104 yankeeboy
Sep 01st, 2014 - 05:44 pm - Link - Report abuse 0But they are NOT in the real world, are they?
That really IS the problem for the entire population.
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