MercoPress. South Atlantic News Agency
US court opens the way for Argentina's return to world money markets
The United States Court of Appeals paved the way on Wednesday for Argentina to raise billions of dollars to pay a group of hedge funds, bringing it one step closer to re-entering international markets for the first time in 15 years. In a ruling from the bench, three judges on the court of appeals upheld a ruling by Judge Thomas Griesa of District Court in Manhattan to lift an injunction that had barred Argentina from paying its creditors and eventually led the country to default in 2014. Read full article
Comments
Disclaimer & comment rules“an injunction that that had barred Argentina from paying its creditors and eventually led the country to default in 2014” That is not correct.
Apr 14th, 2016 - 06:17 am - Link - Report abuse 0We note that Argentina failed once again to make payments on the due date, the 14th of April.
Apr 14th, 2016 - 11:10 am - Link - Report abuse 0These bonds are under NY law? Dollar denominated? How about CAC clauses? They learned nothing in the last 12 yrs
Apr 14th, 2016 - 12:47 pm - Link - Report abuse 0And so another cycle of rg fraud begins.
Apr 14th, 2016 - 04:08 pm - Link - Report abuse 0How do I know this?
This is as its always been.
History establishes that rg is a serial defaulter.
The only question is when will the next event occur and what will be the justification.
So to the bond buyer this a game of musical chairs.
When the music stops and you are left standing proceed to the barber.
Accordingly, junk is meaningless in the context of rg bonds.
Perhaps more appropriate is the fully randomized time bomb bond designation.
There will be a few duds that are paid upon maturation but there's no way to determine which ones they are.
If they were correctly priced pursuant to their historical risk they wouldn't be offered.
@4 “Accordingly, junk is meaningless in the context of rg bonds.”
Apr 14th, 2016 - 05:34 pm - Link - Report abuse 0It's all junk, meaning high risk and light-years from investment grade. It's like cocaine..... you buy argie bonds because you have too much money and need to lighten your burden.
The main difference in argie bonds is that some are junk about to go into default, and some are junk already in default .
“And so another cycle of rg fraud begins.”
Apr 14th, 2016 - 05:35 pm - Link - Report abuse 0So who fucking cares?
Nigeria continues with Boko Haram
North Korea is more frenzied than ever
The Middle East is a disaster
Zika is spreading through Carribbean basin and will most likely hit tropical USA
The South China is hotter than the USA media portrays it to be
Political and social instability is growing worldwide
The probability of no less then a dirty bomb in the hands of a terrorist increasing everyday
The list is endless. But we should care about Argentina's debt and finance issues? Perhpas if I was a burned bondholder I would care more than a dry fart, but I and most here don't care a Putin pisshole in a melting snowbank.
I'd hazard that not everyone enjoys or appreciates the significance of the resolution of the world's largest sovereign default .
Apr 14th, 2016 - 08:13 pm - Link - Report abuse 0But on the other hand, it is infinitely more important to know who shot J.R.
#4 chronic
Apr 14th, 2016 - 08:17 pm - Link - Report abuse 0“How do I know this?...History establishes that rg is a serial defaulter.”
Oh how sweet. Let me tell you something, big know-it-all.
Countries are not some sort of individuals. Countries are entities that shelter all kinds of individuals and groups with very different interests.
As such, Argentina has, like any other country, those who work hard to make a living and those who live from them all.
Loans to Argentina make a few ones very rich: The loaners in the first place, and those Argentines in the know--financiers who participate in millions in commissions and other spill offs, and companies who often get money, don't pay it back, and obtain in the end that the State takes charge of the debt--as it happened in the late 1970s-early 1980s. The Argentine people is the great absent in all of that. They are just required to put, every four years, the next guy that is going to continue screwing them.
So remember: next time you write about the Argentines, note the difference. Same if I speak of the U.S. foreign policies; I am not going to blame poor YB for that. I know he is powerless, typing away endlessly his bitterness in her mom's basement. Or, if I am bitching about Malvinas I won't blame the poor islanders and their fears. I will be talking about people holding real power and wealth--the Camerons, the Bushes, the Reagans. Comprende?
All rgs are liars.
Apr 14th, 2016 - 09:15 pm - Link - Report abuse 0How do I know this?
For one thing Reeeeeeeeeeeeekie told us so.
Wasn't there predictions by someone that this would never happen?
Apr 14th, 2016 - 09:23 pm - Link - Report abuse 0Wonder if Mr Pratt Gay is related to Mr Think?
Apr 14th, 2016 - 10:13 pm - Link - Report abuse 0Think of the 100s of Billions of lost opportunity cost and the actual cost of the K debacle.
Apr 14th, 2016 - 10:19 pm - Link - Report abuse 0Millions of people in poverty and on the verge of starvation for the ill thought out plans of a Korrupted Kleptocracy.
@8 “Countries are not some sort of individuals”
Apr 15th, 2016 - 01:06 am - Link - Report abuse 0-- Reekie is trying to be profound here. Let us humour him.
“ Countries are entities that shelter all kinds of individuals ......”
--- In the case of the Argentina Country, it certainly shelters a lot of people who can't seem to select or even tolerate a moderately decent, competent, halfway honest government that won't cheat and rob them blind. What does that say about a people? Perhaps....as we say in Argentina, “La culpa no es del chancho sino de quien le da de comer” or put another way, the people get the government that they deserve. And in the case of Argentina, both the government and the screwing that they deserve.
“ Loans to Argentina make a few ones very rich...”
--- So stop feeding the pig. (Gawd you are slow)
“ The Argentine people is the great absent in all of that.”
--- Christ, you've been in an English-speaking country long enough to write better than that. Don't you have a 6-year-old in the house to help you? Start over or you're going to fail this semester, both for logic and English. Here is one clue: “ the people are...” (in the case of Argentina, are obviously clueless). Here is another clue: absent is not a noun. Use it properly in a sentence. For example, “Reekie's argento llorón world view suggests that his ability to observe and reason is absent.”
When I named Reeeeeeeeeeeeeeeekie I had no idea it would adhere so well.
Apr 15th, 2016 - 02:19 am - Link - Report abuse 0Commenting for this story is now closed.
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