Cable News Clips

Mainly under right-wing regimes - which facilitate said heist with their currency deregulation moves (to the delight of Bloomberg and the rest of the business media).

Budget deficits themselves were a relatively small factor - as they're mostly financed in pesos and domestically, not foreign debt.

We've seen this movie before: Most recently in 2018, when Cheeto arm-twisted the IMF into lending his old pal Macri $45 billion (remember that one?).

Where did all that money go? Why, 80% of it went to finance dollarizing peso assets and offshoring by both local elites and foreign speculators - including JP Morgan, who employed the same Argentine character overseeing the same heist now: Luis Caputo.

But politically, it didn't save Macri's hide back then - and it's not going to work now.