Economy Argentina to pay 16 billion USD in damages over YPF Nationalization

[MilHojas]

Argentina found liable for $16bn in damage over oil group nationalization - Financial Times

https://www.ft.com/content/c836f7cc-ee4f-4a47-998d-b7a38c90a62b

 

[Redpossum]

Getting a judgement against Argentina is one thing, getting Argentina to pay you is something else.
Headline of article cited above says the former, title of this thread says the latter.

https://www-pagina12-com-ar.transla..._sl=es&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=wapp

The usual Google Translate deal, banner is in Castellano and story will initially appear in that tongue, but wait a few seconds and it will change to English.

 

[earlyretirement]

Argentina Does what it wants without thinking about the Repurcussions

This is a good example of something that happened because Argentina did something stupid. You don't go around stealing people's money (YPF).The moron Axel Kicillof who is the governor of Buenos Aires said this in 2012 "only morons would think that the state is stupid enough to play by Repsol's rules and offer to buy 100% of is shares", when he spearheaded the YPF nationalization. Look what happens when you to stupid stuff like this.

Now connect the dots for those of you playing at home. I've said long before
Milei got his advisor that mentioned that a big amnesty was necessary. We've been pointing that out for a while and what got us excited about Milei. Think about it. A big amnesty to get US $ flowing into Argentina and out from under the mattresses. You need a disruptive guy like Milei that isn't afraid of upending things. Then you do a big amnesty that will bring in funds.Now look, look at this $16 BILLION judgement from the YPF group. Argentina lost and if they appeal it will probably cost them $2 billion more fighting. Argentina doesn't have this cash. So somehow this group gets stuck "investing" in Argentina in one shape or another. Now remember the billions from the amnesty helps rebuilt the economy in Argentina. And systemic change isn't possible without changing the laws.

Again, you have Milei to shake things up and offer proper reforms that will offer LONG lasting systemic change. It's the only way.AND we would advise Milei (and we welcome to join your advisory counsel), that you do a "Golden Visa" program. You grant anyone that invests $XXX,XXX into your country in various categories (could be setting up a new business, partnering and investing in an EXISTING Argentina business, real estate investment, etc). You grant a Golden Visa that gives that person permanent residency in Argentina. However, I'd encourage it to exclude them from ever having to pay asset taxes in Argentina (bienes personales) of assets they own OUTSIDE of Argentina. That would attract so much investment! It would attract so much positive press and respected sources like the Economist have already announced Buenos Aires as one of the Top Digital Nomad cities around the world.


@JMilei would be famous the world over for his innovative solutions. For bringing the world and money from all over the world into Argentina. You could help that foreign money develop communities all over Argentina and spur their economy. Restaurants and stores and other small businesses would get opened as a result all over the country.


In the USA, it's too expensive. Many can't afford to buy groceries right now. While the US government is spending billions of dollars in the Ukraine, it's own citizens are starving and can't afford to live. (This reminds me of Argentina spending money it doesn't have).You also offer some residency options for foreigners so they can retire here and afford a decent quality of life.

You can make it mandatory that they purchase healthcare insurance and some other conditions but you can instantly attract retirees from all over the world that can't afford to live in their countries (USA, Canada, UK, Australia, and many other countries).Now add A + B with these investor groups getting a "piece" of Argentina. They aren't going to want to see no return or pay back. You can create win/win situations after Milei is President. https://reuters.com/legal/us-judge-rules-against-argentina-following-ypf-payout-trial-2023-09-08/ and

https://clarin.com/economia/fallo-expropiacion-ypf-alternativas-argentina-ahora_0_4Ne5f8PQNf.html

 

[earlyretirement]

This is also ESSENTIAL reading about this YPF case - https://www.bowtiedmara.io/p/ypf-th...ntury?r=n12x&utm_medium=ios&utm_campaign=post

 

[Quilombo1]

The message goes far beyond the dollarization proposal promoted by Javier Milei. The world of finance is clear that today there is no possibility of negotiating million-dollar loans to carry out such a bet. Argentina has been left without external credit for several years now, it also has no room to increase internal debt and some time ago the last remaining option to plug the financial holes was exhausted: monetary issuance.

Wall Street bankers made it clear to Milei's emissaries that credit to Argentina in the financial markets is equivalent to zero, which in turn generates strong uncertainties regarding the possibility of implementing a polarization scheme.

https://www.infobae.com/economia/20...s-de-milei-para-la-argentina-no-hay-un-dolar/

Makes sense. We currently owe the IMF 44.5 Billion, the BCRA reserves are negative, we now owe the holdouts 16 Billion for YPF, and we still need 45 Billion to dollarize. As I've been saying ad nauseam: where is the money coming from? And if the answer is it's the money under the mattresses, I have bad news, 40% of the country lives in poverty, and what little remains of the middle class doesn't have tens of thousands of dollars in cash, so unless Milei is going to send the PFA in to peoples' homes in Puerto Madero looking for cash, he needs to stop lying about us dollarizing, explain where the dollars are coming from, or that it will be a violent and painful process, and people better get prepared for it, because we can't carry over 100 Billion dollars in debt as a country, even if we somehow got the loans.

 

[earlyretirement]

Yep, I've always said whomever wins the Presidential election is going to have a whole lot of hurt upon them. Still, one has to have some faith

 

[cuando_volverá]

Argentina Does what it wants without thinking about the Repurcussions

This is a good example of something that happened because Argentina did something stupid. You don't go around stealing people's money (YPF).The moron Axel Kicillof who is the governor of Buenos Aires said this in 2012 "only morons would think that the state is stupid enough to play by Repsol's rules and offer to buy 100% of is shares", when he spearheaded the YPF nationalization. Look what happens when you to stupid stuff like this.

Now connect the dots for those of you playing at home. I've said long before
Milei got his advisor that mentioned that a big amnesty was necessary. We've been pointing that out for a while and what got us excited about Milei. Think about it. A big amnesty to get US $ flowing into Argentina and out from under the mattresses. You need a disruptive guy like Milei that isn't afraid of upending things. Then you do a big amnesty that will bring in funds.Now look, look at this $16 BILLION judgement from the YPF group. Argentina lost and if they appeal it will probably cost them $2 billion more fighting. Argentina doesn't have this cash. So somehow this group gets stuck "investing" in Argentina in one shape or another. Now remember the billions from the amnesty helps rebuilt the economy in Argentina. And systemic change isn't possible without changing the laws.

Again, you have Milei to shake things up and offer proper reforms that will offer LONG lasting systemic change. It's the only way.AND we would advise Milei (and we welcome to join your advisory counsel), that you do a "Golden Visa" program. You grant anyone that invests $XXX,XXX into your country in various categories (could be setting up a new business, partnering and investing in an EXISTING Argentina business, real estate investment, etc). You grant a Golden Visa that gives that person permanent residency in Argentina. However, I'd encourage it to exclude them from ever having to pay asset taxes in Argentina (bienes personales) of assets they own OUTSIDE of Argentina. That would attract so much investment! It would attract so much positive press and respected sources like the Economist have already announced Buenos Aires as one of the Top Digital Nomad cities around the world.


@JMilei would be famous the world over for his innovative solutions. For bringing the world and money from all over the world into Argentina. You could help that foreign money develop communities all over Argentina and spur their economy. Restaurants and stores and other small businesses would get opened as a result all over the country.


In the USA, it's too expensive. Many can't afford to buy groceries right now. While the US government is spending billions of dollars in the Ukraine, it's own citizens are starving and can't afford to live. (This reminds me of Argentina spending money it doesn't have).You also offer some residency options for foreigners so they can retire here and afford a decent quality of life.

You can make it mandatory that they purchase healthcare insurance and some other conditions but you can instantly attract retirees from all over the world that can't afford to live in their countries (USA, Canada, UK, Australia, and many other countries).Now add A + B with these investor groups getting a "piece" of Argentina. They aren't going to want to see no return or pay back. You can create win/win situations after Milei is President. https://reuters.com/legal/us-judge-rules-against-argentina-following-ypf-payout-trial-2023-09-08/ and

https://clarin.com/economia/fallo-expropiacion-ypf-alternativas-argentina-ahora_0_4Ne5f8PQNf.html

Remember the socks? Clarin might miente, but the socks don't.

Las medias "Clarín Miente" llegaron a Angola

En medio de la misión oficial que encabeza Cristina Kirchner en ese país, una curiosa imagen de un grupo de niños genera polémica en la red social Twitter

www.lanacion.com.ar

 

[earlyretirement]

Remember the socks? Clarin might miente, but the socks don't.

Las medias "Clarín Miente" llegaron a Angola

En medio de la misión oficial que encabeza Cristina Kirchner en ese país, una curiosa imagen de un grupo de niños genera polémica en la red social Twitter

www.lanacion.com.ar

Oh yeah I agree with you Clarin isn't the best but there is no denying the theft of YPF. No one can dispute that and the courts were spot on target with their ruling. Basically Argentina is F(*cked.

 

[earlyretirement]

Yikes 20% of national budget! Holy cow. THIS is what happens when you do stupid things like this.

Cha Ching for the investor group! 37,000% ROI. Love it. Smart money ALWAYS knows how to make money in Argentina. Kudos for them. I know some of these guys. Sharp!

It will take many years to get and it probably won't be the full amount but man what a great ROI. I love to see people making money in Argentina.

I love Argentina but they have this coming.

Argentina Says $16 Billion US Judgment is 20% of Its Budget - BNN Bloomberg​

Argentina said it wants to delay paying a $16 billion court judgment over its 2012 expropriation of oil company YPF SA.

www.bnnbloomberg.ca