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Global Power Project: The Group of Thirty, Financial Crisis Kingpins

washingtonsblog.com / February 28, 2014

By Andrew Gavin Marshall, AndrewGavinMarshall.com. Cross-posted from Occupy.com.

Following parts one, two and three of the Global Power Project’s Group of Thirty series, this fourth and final installment focuses on a few of the G30 members who have played outsized roles both in creating and managing various financial [...]

Peak Stupidity: Argentina Fines Walmart For Violating “Fair Price” Pact, Urges Citizens To Denounce “Evil” Retailers

zerohedge.com / by Tyler Durden on 02/16/2014 20:29

We take certain liberties with this title: we realize that since one is dealing with human individuals, particularly human individuals stuck in an insolvent, soon to re-default nation, stupidity can never peak per se, as the next day will without doubt bring some peak-er instance of [...]

Two-Week Price Inflation in Argentina hits 30%, US Products Lead the Way; Currency Devaluations Hit P&G Earnings

globaleconomicanalysis.blogspot.com / Mike “Mish” Shedlock / Sunday, February 16, 2014 10:27 AM

Price of many goods in Argentina soared in the past two weeks. US brands are at the forefront of the action. Via translation from Lanacion, In two weeks, Warehouse Prices Rose 30%, with mayonnaise, cookies, and coffee leading the way. Officially, prices [...]

Despite “Absolute Calm” Claim, Venezuela Appears Just A Little Out Of Control

zerohedge.com / by Tyler Durden on 02/13/2014 13:53 -0500

President Maduro and his ministers have stated (fully supported by Argentina):

*PEOPLE BEHIND YESTERDAY’S VIOLENCE WILL BE PUNISHED: ORTEGA *VENEZUELA ISSUED ARREST ORDER FOR LEOPOLDO LOPEZ: VOLUNTAD *VENEZUELA IN ABSOLUTE CALM, ORTEGA SAYS *ARGENTINA SAYS IT FIRMLY SUPPORTS VENEZUELA’S GOVERNMENT

However, between armed groups reportedly firing [...]

FerFAL: Here’s What It Looks Like When Your Country’s Economy Collapses

peakprosperity.com / by Adam Taggart / February 8, 2014, 2:36 PM

Argentina is a country re-entering crisis territory it knows too well. The country has defaulted on its sovereign debt three times in the past 32 years and looks poised to do so again soon.

Its currency, the peso, devalued by more than 20% in [...]

GOLD PRICE IN ARGENTINA SKYROCKETS +28% IN JANUARY!

silverdoctors.com / BY THE DOC / FEBRUARY 5, 2014

n Argentina, the price of gold rose about 28% in the first month of this year. In the meantime, the price of gold in euro’s and dollars rose about 5%. The big difference is the result of a devaluation of the Argentine currency, the peso. [...]

Argentine Banking System Archives Destroyed By Deadly Fire

zerohedge.com / by Tyler Durden on 02/05/2014 13:57 -0500

While we are sure it is a very sad coincidence, on the day when Argentina decrees limits on the FX positions banks can hold and the Argentine Central Bank’s reserves accounting is questioned publically, a massive fire – killing 9 people – has destroyed a [...]

Why Some Emerging Markets Are Heading for a Bust

mises.org / by Frank Shostak / Wednesday, February 05, 2014

In countries such as Turkey and Argentina a tighter stance implemented by central banks has set in motion an economic bust. In Turkey the central bank has raised the one week repo rate to 10 percent from 4.5 percent while in Argentina the [...]

JPMorgan Takes Offense At Argentina’s Fabricated Reserves Data

zerohedge.com / by Tyler Durden on 02/04/2014 – 14:06

As we noted previously there is a race to the bottom between the Argentine currency and its central bank’s reserve balance as day by day both slide seemingly unceasingly. However, as JPMorgan notes in a rather aggressive note, a local press article sheds doubts over Argentina’s [...]

Loan Rates in Argentina Reach 65% Annually; Is 65% a Good Rate?

globaleconomicanalysis.blogspot.com / Mike “Mish” Shedlock / Monday, February 03, 2014 11:25 AM

Emerging markets continue to crumble, and the spillover on major economies is obvious. Problems always start somewhere, usually at the periphery.

Via translation from Lanacion, please consider Credit Is More Expensive.

Following the peso devaluation and sharp hike in interest rates [...]

Argentina Central Bank Bans Imports Due to Lack of Dollars; Argentina to Apply “Iron Fist” to Those Who Raise Prices

globaleconomicanalysis.blogspot.com / Mike “Mish” Shedlock / Saturday, February 01, 2014 9:21 PM

As reserves run dry, demand for dollars soars in emerging market countries, prompting inane economic actions.

Via google translation from Libre Mercardo, please consider Argentina Cerntral Bank Bans Imports Due to Lack of Dollars.

The fourth day of falling reserves has the [...]

Argentina Scrambles To Raise $10 Billion, Avoid Reserve Collapse; BONARs Bidless

zerohedge.com / by Tyler Durden on 02/01/2014 17:18

A few days ago, in the aftermath of Argentina’s shocking devaluation announcement, we showed the one most important chart for the future of that country’s economy: the correlation between the value of the Arg Peso and the amount of Central Bank foreign reserves, both crashing. And [...]

A Not So Subtle Hint That Argentina May Be Un-Fixed

zerohedge.com / by Tyler Durden on 01/31/2014 13:46 -0500

The Argentinian 2015 Boden are getting destroyed!!

They were trading near Par at year-end!!

With the IMF frantically scrambling to cover its forecast errors and model-breakdowns amid an emerging market turmoil that no one could have seen coming, the contagion is beginning to spread. With [...]

Argentina is Going Down

dailyreckoning.com.au / By Bill Bonner / January 29th, 2014

Some people think it was the 15% drop in the peso that triggered the recent selloff in the emerging markets…and back in the US of A.

On the last two days of the week, the Dow lost nearly 500 points. And on Saturday, after-hours trading [...]

Emerging Market Contagion Spreads; Argentina, Venezuela, Turkey Roundup; 50% Tax on Internet Purchases

globaleconomicanalysis.blogspot.com / Mike “Mish” Shedlock / Friday, January 24, 2014 1:02 PM

Argentina Institutes 50% Tax on Internet Purchases; Emerging Market Contagion Spreads; Argentina, Venezuela, Turkey Roundup Yesterday, Argentina devalued the Peso hoping to halt further declines in its currency reserves. Markets had seen this coming as charts of the Peso vs. the US dollar [...]

20 Early Warning Signs That We Are Approaching A Global Economic Meltdown

theeconomiccollapseblog.com / By Michael Snyder / January 23rd, 2014

Have you been paying attention to what has beenhappening in Argentina, Venezuela, Brazil, Ukraine, Turkey and China? If you are like most Americans, you have not been. Most Americans don’t seem to really care too much about what is happening in the rest of the [...]

Your Front Row Seat To Argentina’s (Latest) Currency Collapse

zerohedge.com / by Tyler Durden on 01/23/2014 13:30 -0500

UPDATE: The Argentine Trade Balance missed surplus expectations by the most in 3 years (and 2nd most on record).

As those who follow Zero Hedge on twitter know, we have recently shown a keen interest in the collapse of the Argentine currency reserves – most [...]

Barrick laying off 1,500 Pascua-Lama workers in Argentina

yahoo.com / Reuters / 1 hour ago

BUENOS AIRES (Reuters) – Barrick Gold Corp is laying off roughly 1,500 of its approximately 5,000 workers on the Argentine side of its suspended Pascua-Lama gold mine project, a local government spokesman said on Saturday.

The Toronto-based miner said in October it was moth-balling the huge project, [...]