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Author Topic: Argentina defaults (again)  (Read 2143 times)

Roland of Gilead

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Argentina defaults (again)
« on: July 30, 2014, 06:46:10 PM »
If we have any MMM followers in Argentina, I hope you are holding some outside funds or silver/gold.

How did that song go?  Don't cry for Argentina.  The truth is it has no money.  It was all spent on wild days and sad existence.  They didn't keep their promise and now investors will keep their distance.

Something like that anyway.
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FIREman2036

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Re: Argentina defaults (again)
« Reply #1 on: July 31, 2014, 05:00:18 AM »
Its a bit more complicated than that. Argentina has plenty money, they are defaulting on 1.5 Bn when they hold about 29 Bn i believe in reserve. They are choosing to default for political reasons and i think could end up coming out of all this pretty well.
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arebelspy

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Re: Argentina defaults (again)
« Reply #2 on: August 23, 2014, 08:07:52 PM »
Quote from: FIREman2036 on July 31, 2014, 05:00:18 AM
Its a bit more complicated than that. Argentina has plenty money, they are defaulting on 1.5 Bn when they hold about 29 Bn i believe in reserve. They are choosing to default for political reasons and i think could end up coming out of all this pretty well.

Yeah, it's a real weird situation.

There's a pretty clear summary of it here: http://www.washingtonpost.com/blogs/wonkblog/wp/2014/08/03/everything-you-need-to-know-about-argentinas-weird-default/
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JenL

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Re: Argentina defaults (again)
« Reply #3 on: August 25, 2014, 12:51:43 PM »
Kirchner is making a big mess. If Rouseff wins brazilian elections, Brazil will go through the same path and South America will bleed.
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swiper

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Re: Argentina defaults (again)
« Reply #4 on: August 25, 2014, 04:48:34 PM »
Quote from: arebelspy on August 23, 2014, 08:07:52 PM
Quote from: FIREman2036 on July 31, 2014, 05:00:18 AM
Its a bit more complicated than that. Argentina has plenty money, they are defaulting on 1.5 Bn when they hold about 29 Bn i believe in reserve. They are choosing to default for political reasons and i think could end up coming out of all this pretty well.

Yeah, it's a real weird situation.

There's a pretty clear summary of it here: http://www.washingtonpost.com/blogs/wonkblog/wp/2014/08/03/everything-you-need-to-know-about-argentinas-weird-default/

I love happy endings like this, where only the lawyers get paid :|
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