Newcomer World media in overdrive on Argentina

[Mart]

The world media is in overdrive in presenting a negative image on Argentinas future . For me I find it very distressing that this unique beautiful country is being LED to económic ruin. I feel also pity for the vultures who are waiting in the sidelines to make profit on devalued assets. But what will they inherit taking Venezuela as a model . I prefer to live in a stable middle income society where human values and principles are paramount.

Macri Was Supposed To Save Argentina, Now He Can't Pay The Bills

The IMF has no choice but to give them the planned $5.4 billion, or markets will smell default.

www.forbes.com

 

[AngelJuan]

Sorry but Forbes is not "The World Media" and sadly the truth is that, as in Argentina's previous crises, "The World" isn't really that interested.

 

[Mart]

Sorry but Forbes is not "The World Media" and sadly the truth is that, as in Argentina's previous crises, "The World" isn't really that interested.

You are very wrong Argentina is of great interest to the élite due to having the most important natural resources on the planet. Patagonia is the jewel in the crown and could be taken away from us for payment of the external debt. Read up on it and inform yourself

 

[CarliNeces]

You are very wrong Argentina is of great interest to the élite due to having the most important natural resources on the planet. Patagonia is the jewel in the crown and could be taken away from us for payment of the external debt. Read up on it and inform yourself

Since when did you own Patagonia?

And if you really considered yourself one of "us", you would not be jumping ship in crisis.

 

[Mart]

Since when did you own Patagonia?

And if you really considered yourself one of "us", you would not be jumping ship in crisis.

Number one I am not jumping and live in Argentina the majority of the year . Patagonia is a asset of the argentinian people and being a citizen of this country it is of great interest to me that it is not ceded for payment of external debt in case of a default . Many people in the know concede this is a possibility and certainly Patagonia is a immensely rich land of great interest to the elite .

 

[KurtLard]

If cession of Patagonian lands as part of an Argentine debt restructuring is a concern, I would sleep soundly at night. This is so unlikely as to not even be worthy of consideration. First, the original bond indentures, which will govern any Argentine debt restructuring, did not collateralize the debt with sovereign Argentine territory. Second, institutional creditors restructure debt financially, they don't take land. Banks repossess houses and cars. Mafia loan sharks break kneecaps. Institutional creditors work through attorneys to negotiate financial restructurings. Third, I would imagine that cession of land in exchange for debt to international lenders probably violates some aspect of the Argentine constitution. I don't have that as a fact, but most sovereign nations have clauses like this in their operative governing laws. Fourth, such an exchange would likely be politically impossible.

There is only one modern situation (that I am aware of) in which this scenario occurs: the absolute scum of the earth Chinese communist government. For several years now, the communists in China have given below market bids for infrastructure projects to 3rd world countries. The projects must involve large percentage of Chinese labor and corporate resources. The loan terms are generous, but beyond the means of the borrower/nation. When the nation falls behind on the debt, the scum in China take the project and viola - they have a new strategic port or bridge or toll road, at the expense of the 3rd world country.

China is bidding on a dredging project in Argentina right now. Look out!

 

[Mart]

It does beg the question if Argentina has such valuable assets why aren't they mining them for the betterment of their country?

 

[earlyretirement]

Mart,

Argentina does NOT need the world media to "lead it to economic ruin". They can do that well all on their own! Argentina is a disaster and always will be long term. There is no solving all of the problems they have. It doesn't matter who is the President. You just can't fix a broken system without totally changing the system and no one is willing to do that and never will.