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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 [...]

Argentina “Determined to Default” Second Time

globaleconomicanalysis.blogspot.com / By Mike “Mish” Shedlock / July 19, 2014

Background: Argentina defaulted on bonds following a debt crisis in 2001-2002. 92% of the investors agreed to haircuts, but a vulture fund picked up an 8% share at rock bottom prices and refused to negotiate.

In June, the US Supreme Court ruled that [...]

With Two Weeks Left, Argentina Starts Taking (Bondholder) Names

zerohedge.com / by Tyler Durden on 07/16/2014 20:05

The Argentina default battle is in its final fortnight, with a July 30 grace period expiration looming, one which would result in a second bankruptcy in 13 years to formally be written down in the history books, and which could spoil the serene glow all [...]

Meanwhile, In Argentina: Riot Police Unleash Tear Gas & Water Cannons In Buenos Aires – Live Feed

zerohedge.com / by Tyler Durden / 07/13/2014 22:44 -0400

With the nation teetering on the brink of default amid major inflation pressures at home and growing poverty (and Kirchner facing pressure into next year’s election), today’s loss in the FIFA World Cup final appears to have lit the blue touch paper. As RT [...]

Argentina Fights Back

armstrongeconomics.com / By Martin Armstrong / June 26, 2014

The default in Argentina, as with everything, has two-sides to each crisis. Argentina has been placing advertisements in the US Wall Street Journal and overseas in the leading newspapers of Europe with the headline – “ARGENTINA WANTS TO CONTINUE PAYING ITS DEBTS BUT THEY WON’T LET [...]

IMF CONCERNED ABOUT US SUPREME COURT RULING ON ARGENTINA DEBT

silverdoctors.com / BY LARRY WHITE / JUNE 25, 2014

Can the financial authorities compel private debt holders (and also regular bank account owners) to give up their rights to make claims for the full value of their asset when a default takes place? The answer to this question has huge implications worldwide as the risk [...]

About Those Argentine Bonds…

market-ticker.org / Karl Denninger / 2014-06-22 06:05

The saga of Argentina is an interesting — and amusing — one.

For those who don’t recall Argentina has through the years sold bonds they had no prayer in hell of ever paying off – exactly as has the United States, Britain, France, Germany [...]

Argentine Default Looms; Refuses To Negotiate; Admits Next Bond Payment “Impossible”

zerohedge.com / by Tyler Durden / 06/19/2014 09:27

Argentina’s attempt to work around SCOTUS decision in favor of the ‘holdouts’ was rejected (under anti-evasion orders) last night leaving Argentina no alternative but to threaten to default on its debt. The government called it “impossible” to pay bond service due on June 30, because payment [...]

Argentina Bonds Tumble Further After ‘Swap’ Plans Unveiled, Then Ruled In Violation

zerohedge.com / by Tyler Durden on 06/18/2014 15:49

After 2 days of weakness following the SCOTUS decision against them, Argentina unveiled a plan to restructure their debt – swapping existing foreign law debt to local law (more manipulatable and less legally enforceable) bonds, though Citi warns “implementing [the swap] may be technically challenging.”. This [...]

Argentina’s Sorrows Deepen

acting-man.com / By Pater Tenebrarum / June 18, 2014

A Sorry History of Statism and Inflationism

Early in the 20th century, Argentina was fully developed by the standards of the time, and the 5th richest nation on earth in terms of per capita GDP. Then several generations of Argentine politicians [...]

Bill Black on the Rule of Predatory Finance Over Argentina

jessescrossroadscafe.blogspot.com / June 17, 2014

As you know I think that this ruling by the Supreme Court, written by Antonin Scalia, which essentially puts the Argentine people and the other creditors at the mercy of the demands of a few vulture funds, may prove to be a watershed, or perhaps trigger, event in the excesses [...]

Adding Insult To Injury, Argentina Is Downgraded By S&P: What Happens Next

zerohedge.com / by Tyler Durden on 06/17/2014 15:24

As reported yesterday, The SCOTUS dealt a major blow to Argentina hopes it would avoid making payments on its “holdout” bonds when it enforced a lower-court ruling that said Argentina can’t make payments on its restructured debt unless it also pays holdout hedge funds headed by [...]

Argentina Kowtows To “Paris Club” on Debt, Thinks It Won

testosteronepit.com / By Bianca Fernet / June 2, 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.

Thank you Economy Minister Axel [...]

Can Argentina’s Statistics Agency Make Up Its Mind Already?

testosteronepit.com / By Sam Pothecary / May 20, 2014

Sam Pothecary, Buenos Aires, staff writer for The Bubble. Sam would be in some insipid office in London but chose the life of an international vagabond and freelance journalist. He also writes for The Argentina Independent and is working on a project about Rio de Janeiro.

[...]

DON’T CRY FOR ME, AMERICA

theburningplatform.com / By Stucky / 24th April 2014

In the early 20th century, Argentina was one of the richest countries in the world. While Great Britain’s maritime power and its far-flung empire had propelled it to a dominant position among the world’s industrialized nations, only the United States challenged Argentina for the position of [...]

Hitler Debate Heats Up As New Evidence is Presented About His Escape to Argentina

21stcenturywire.com / April 24, 2014

Mainstream accepted history tells us that on April 30, 1945, deep inside a Berlin bunker, the infamous Nazi leader Adolph Hitler took his own life and that of his wife Eva Braun. That piece of history is now being serious challenged, but not without its share of controversy.

Recently unearthed [...]

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 [...]