General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsThe IMF affair is turning into a scandal...
https://www.reddit.com/r/InBitcoinWeTrust/comments/1ow08k9/the_imf_affair_is_turning_into_a_scandal_trump/The IMF affair is turning into a scandal...
Trump withdrew $870 million from the US account at the IMF, which then miraculously appeared in Argentina's account.
This is convenient because Argentina owed $840 million to the IMF.
Why is this a problem?
If the US wants to give this sum to Argentina, it must go through a mandatory vote in Congress!
spanone
(140,684 posts)PatSeg
(51,501 posts)He thinks he is above all that like some American royalty. Of course, he believes in enforcing the law when it is against his enemies.
rubbersole
(10,890 posts)You're so right about him thinking he's royalty. The crowned fighter jet pilot dumping shit on protesters is impeachable by itself. I've got this feeling king donnie is going to have a load of shit dumped on his Burger King crown 👑 pretty soon.
Paper Roses
(7,600 posts)sop
(16,902 posts)"US Treasury Secretary Scott Bessent comes to the rescue of hedge funds including BlackRock, Fidelity, Pimco and Discovery Capital Management, all of which bought Argentine bonds. Several fund managers share a professional past with the US official."
"US Treasury Secretary Scott Bessents intervention in Argentina seems aimed more at saving his friends than at helping the nation, at least one leading economist has alleged."
"Several hedge funds with past professional ties to the Treasury Secretary hold major positions in Argentine bonds. Washingtons US$20-billion swap package seeks to shield their returns."
"According to The New York Times, the financial assistance will benefit 'investment firms such as BlackRock, Fidelity and Pimco, which are heavily invested in Argentina, as well as investors like Stanley Druckenmiller and Robert Citrone, who worked with Bessent when he was investing for George Soros.' "
"Specifically, Argentina faces debt payments in January and July next year amounting to roughly US$8.5 billion in bonares and globales bonds, with 85 percent believed to be in private hands."
"Nobel Prize-winning economist Paul Krugman has written two articles about Bessents proposed rescue plan. In a recent blog post, he noted that 'some US hedge-fund billionaires, personally close to Bessent, bet big on Milei and bought Argentine bonds.' "
'The bailout package almost surely wont succeed in turning Argentinas economy around and probably wont rescue Milei politically. But it may buy enough time for Bessents buddies to get much of their money out before the bottom falls out of the Argentine economy,' Krugman adds."
https://www.batimes.com.ar/news/economy/bessent-steps-in-to-protect-profits-of-friendly-investors-in-argentina.phtml
erronis
(21,972 posts)There's something about Milton Friedman and his rapist economics as detailed by Naomi Klein in Shock Doctrine.
BattleRow
(2,032 posts)progressoid
(52,347 posts)erronis
(21,972 posts)progressoid
(52,347 posts)bronxiteforever
(10,963 posts)Trump tried to starve Americans.
Buddyzbuddy
(1,923 posts)JI7
(92,980 posts)Hotler
(13,619 posts)Cha
(315,858 posts)Americans to Give to Fucking Argentina
Orrex
(66,402 posts)Moostache
(10,926 posts)He is making the list of places to go to extradite his worthless ass for the human rights abuse trials easy for us.
ashredux
(2,810 posts)Bread and Circuses
(1,405 posts)Six117
(292 posts)To no one's surprise.
flashman13
(1,776 posts)he could do anything he wanted to do as long as it was official. Seems we are now a nation of rule by an orange criminal.
Congress has essentially neutered itself. It does look like pedophilia could be a bridge too far.