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ARGENTINA’S PESO WEAKENING AT FASTEST PACE SINCE JANUARY

infowars.com / CAMILA RUSSO AND CHARLIE DEVEREUX / AUGUST 22, 2014

First came the default, then a proposed debt swap aimed at circumventing a U.S. court ruling that could normalize Argentina’s relations with foreign investors. Now traders foresee a devaluation for the second time this year.

Argentina’s peso sank 1.5 percent this week [...]

Silver Standard now diversified to lower geopolitical risk – John Smith Interview

silverseek.com / By Vanessa Collette / August 21, 2014

John Smith, the President/CEO/Director of Silver Standard Resources, chats with Cambridge House Live anchor Vanessa Collette at the Sprott Natural Resources Symposium. The conversation covers Silver Standard’s efforts to diversify risk away from their operations in Argentina; efforts the company has made to cut back [...]

Argentina Peso Collapses At Fastest Pace In 8 Months, Hits Record Low

zerohedge.com / by Tyler Durden on 08/21/2014 14:12

Since President Kirchner unleashed her ‘cramdown’ plan for Argentinian debt, the Peso has collapsed at the fastest pace since January’s devaluation. The ‘official’ Peso prices has collapsed 1.3% in the last 2 day to 8.39 per USD – and Argentina’s debt yields have surged (prices tumbled) [...]

Argentinian Peso in Massive Slide; Argentina’s Bonds Decline on Plan to Offer Local-Law Swap

globaleconomicanalysis.blogspot.com / Mike “Mish” Shedlock / August 20, 2014

In June, the US Supreme Court ruled that Argentina Cannot Selectively Default on a small group of hold-outs demanding full payment on otherwise restructured government bonds.The problem with the ruling is that if Argentina pays the vulture fund full value, it will have to pay all [...]

Gold in Ukraine & Argentina

goldbroker.com / Nick Laird / Aug 12, 2014

Gold in Ukriane Hrvynia up 70% since the start of 2014

READ MORE

Argentina’s Default: A Devastating Lesson in Unfunded Government Liabilities

trumanfactor.com / Dickson Buchanan, Jr. / 08/08/2014

Last week, on July 30, the Republic of Argentina was declared to be in default for the third time in 30 years.

Let’s put that into perspective. If you were a bank officer who offered a 30-year mortgage to the Government [...]

Gold Daily and Silver Weekly Charts – Argentina Chastised By Judge Griesa For Speaking Out

jessescrossroadscafe.blogspot.com / 08 AUGUST 2014

Gold has popped to over 1320 in the late hours, but found little footing there and succumbed to capping pressure that held it to the 1311 area for most of the day.Silver managed to plant a foot over the 20 handle and keep it there into the close.The gold [...]

Argentina’s Default: A Devastating Lesson in Unfunded Government Liabilities

news.goldseek.com / By Dickson Buchanan Jr. / 8 August 2014

Last week, on July 30, the Republic of Argentina was declared to be in default for the third time in 30 years.Let’s put that into perspective. If you were a bank officer who offered a 30-year mortgage to the Government of Argentina in the [...]

Argentina – Deadbeat State Goes on the Attack

Alejandro Vanoli, president of Argentina’s market regulator Comision Nacional de Valores , the authority now tasked with a faux “investigation” into the holdouts (Photo credit: Reuters / Enrique Marcarian)

acting-man.com / Pater Tenebrarum / August 5, 2014

Argentina Wants to Investigate Holdouts for “Insider Trading”

In a way this is really [...]

Argentina – the Economic Backdrop to the Default

acting-man.com / Pater Tenebrarum / August 4, 2014

The Default is a Minor Problem – Argentina’s Real Problem is Something Else Entirely

By now it is well known that Argentina has been declared in default by the major credit rating agencies. This has happened in spite of the Argentine government actually depositing the [...]

Argentina: Another Keynesian Success Story That Wasn’t Their Fault

mises.ca / Robert P. Murphy / Thursday, July 31st, 2014

On July 30 S&P declared Argentina’s government technically in default on $13 billion of its sovereign bonds that were restructured after the government’s previous default back in 2002. Inasmuch as several of the world’s major Keynesian bloggers never tire of pointing out how [...]

Argentina’s Historical Company—–181 Sovereign Defaults Since 1800

davidstockmanscontracorner.com / by David Stockman / August 1, 2014

From The Economist

http://www.economist.com/blogs/graphicdetail/2014/07/daily-chart-23

SOURCE

The Illustrated Guide To 20 Years Of Latin American Debt Crises

zerohedge.com / by Tyler Durden on 08/01/2014 20:16

As the Argentina farce rolls on, it is worth noting that this is nothing new. As Bloomberg Briefs shows below,Latin American nations have been serial defaulters for the last 20 years.

READ MORE

[...]

CDS Triggered: ISDA Confirms Argentina Credit Event Took Place

zerohedge.com / by Tyler Durden on 08/01/2014 12:00

Moments ago ISDA, which yesterday was queried whether a CDS-triggering credit event had taken place in Argentina, made a ruling. Here it is:

The Americas [Determinations Commitee] met on August 1, 2014 and resolved that a Failure to Pay Credit Event in relation to the [...]

Argentina Economy Minister: “Who believes in the rating agencies?”

sovereignman.com / by Simon Black / August 1, 2014

What a disaster.

For the second time in the last fifteen or so odd years, Argentina has defaulted on its debt. And as we reported a few weeks ago, there was no easy way out.

Years ago, most of [...]

“Significant Underutilization of Labor Resources”

blog.milesfranklin.com / BY Andrew Hoffman / July 31st, 2014

Do you want to know what hyper-inflation looks like? Well guess what? Despite what the “experts” tell you, it is decidedly not a “thing of the past.” The most famous 20th century example was Weimar Germany, where stocks soared as the Reichsmark collapsed; [...]

214 Years Of Sovereign Defaults In One Chart

zerohedge.com / by Tyler Durden / 07/31/2014 11:22

From 1800 to 1950, Argentina had been a relatively low frequency ‘defaulter’, but as the following chart fromThe Economist shows, since then (as we noted here) they have made up for it.

Argentina has defaulted on its external debt seven times and [...]

No Tears For Argentina—-But A Swift Kick To The Greenspan Fed Is Warranted

davidstockmanscontracorner.com / by David Stockman / July 31, 2014

Argentina has (apparently) defaulted again. This is the seventh time in its history, but no tears are warranted. For more than a half-century, its government has been a chronic fount of fiscal profligacy and statist economic schemes that have destroyed its once fabulous [...]

Is JPMorgan About To Bailout Argentina?

zerohedge.com / by Tyler Durden / 07/31/2014 10:57

Update: According to Ambito the deal is a no go as Italian bondholders (and likely all others) claim that a private deal with a buyer of holdout bonds would also trigger the RUFO clause, thus making the deal meaningless and forcing Argentina to payout [...]

Markets Are In The Red, Major Portugese Bank Crashes, Argentina Defaults AGAIN, France’s Largest Bank Posts Massive Loss

investmentwatchblog.com / July 31st, 2014

Stocks are down across Europe.

Britain’s FTSE is down 0.2%.

France’s CAC 40 is down 0.7%.

Germany’s DAX is down 1.0%.

Spain’s IBEX is down 1.6%.

This comes in the wake of new inflation and unemployment data.

Argentina And Banco Espirito: What About The Derivatives?

investmentresearchdynamics.com / David Kranzler / July 31, 2014

Argentina is interesting because of the legal issue surrounding the specific Government bonds on which it might default. I called Banco Espirito as a likely bankruptcy after the stock exhibited Enron-esque characteristics. As that one unfolds, it looks like the entire corporate structure above the [...]

Argentina Defaults

zerohedge.com / by Tyler Durden on 07/30/2014

It’s all over but the crying: having explained Argentina’s position (i.e. not giving to so-called vulture funds), Economy Minister Kicilloff explains:

*KICILLOF SAYS HEDGE FUNDS NOT WILLING TO GIVE DELAY ON RULING *KICILLOF SAYS HARD TO BELIEVE ARGENTINA IN DEFAULT IF HAS FUNDS *KICILLOF SAYS [...]

“Reverse Bailout”: Private Banks to Argentina’s Rescue?

wolfstreet.com / by Bianca Fernet / July 30, 2014

Bianca Fernet, stilettos-on-the-ground American economist in Buenos Aires, antidote to economists who act like economics is too complicated to understand and who spout off buzzwords that make you feel inadequate. Her website The Bubble covers pop and econ topics in Argentina.

July 30/Argentina defaulted/BES huge loss with problems that may be systemic/Obama and Israel at odds with each other/

harveyorgan.blogspot.com / July 30, 2014

Gold closed down $3.40 at $1294.90 (comex to comex closing time ). Silver was up 1 cent at $20.56

In the access market tonight at 5:15 pm gold: $1296.00

silver: $20.60

GLD: no change in gold inventory at the GLD (tonnage still 801.84 tonnes).

SLV : no change in silver [...]

Argentina Default: Is Paul Singer Playing Both Sides?

wolfstreet.com / By Bianca Fernet / July 30, 2014

Bianca Fernet, stilettos-on-the-ground American economist in Buenos Aires, antidote to economists who act like economics is too complicated to understand and who spout off buzzwords that make you feel inadequate. Her website The Bubble covers pop and econ topics in Argentina.

Life is [...]

Argentine Bonds Soar To Record Highs As Hope Rules (For Now)

zerohedge.com / by Tyler Durden / 07/30/2014 09:36

While last night saw’The Holdouts’ and ‘The Argentina Delegation’ come face-to-face for the first time in a decade for negotiations, when they went to bed late last night, there was no resolution. No news yet this morning of when the meeting will reconvene but it [...]

Understanding Argentina’s Coming Default

mises.org / by Nicolás Cachanosky / Wednesday, July 30, 2014

At the time of this writing, Argentina is a few days away from formally defaulting on its debts.How could this happen three times in just twenty-eight years?

Following the 2001 default, Argentina offered a debt swap (a restructuring of debt) [...]

Bonds & Peso Slide As Fernandez Slams Holdouts For “True Aggression Ageinst Argentina”

zerohedge.com / by Tyler Durden / 07/29/2014 14:21

With hours to go until Argentina’s grace period runs out and default occurs, investors are less than frantically selling Argentine bonds and pesos. They are lower but do not appear in full panic mode as we presume investors cling to hope that Argentina folds [...]

Argentina Bonds/Currency Tumble As Delegation Snubs Mediation

zerohedge.com / by Tyler Durden / 07/28/2014 09:12 -0400

With 2 days until the 30-day grace period for ‘negotiating’ the already defaulted upon bonds is over and Argentina is once again dumped from the public markets, the demands for a “continuous mediation” by Judge Griesa appears to have fallen on dear ears. Bloomberg [...]

Argentina Debt “Mediation” Goes Surreal As Neither Side Turns Up For Meeting, Black-Market Peso Tumbles

zerohedge.com / by Tyler Durden on 07/23/2014 14:02

Despite Judge Griesa’s demands that the holdouts and the Argentinian government hold “continuous” mediation until the debt conflict is resolved “or fear the worst,” this morning’s headlines are somewhat surreal:

*NEITHER SIDE IN ARGENTINE DEBT CONFLICT HAS ARRIVED TO MEETING

Argentina [...]