It's a Wrap for Argentina

Tommy Knocks

Tommy Knocks

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They defaulted again? :damn:

I was there in 2004 after they defaulted, nikka was eating argentine steaks for $5 and rum and cola for $3. bout time they went back to S.A prices, maybe now I can go back. :blessed:
 
newworldafro

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BRICS is all over that ...... on a recruiting spree ..... shytt cray...

brics-2014-fortaleza-brazil.jpg



Who or What Are They Waving At Though?? :patrice: :lupe: .................. :leostare:



http://www.buenosairesherald.com/ar...-tells-brics-argentina-will-not-default-debt-

http://online.wsj.com/articles/brics-summit-end-with-gathering-of-south-american-leaders-1405547046

Brics Summit Ends With Gathering of South-American Leaders

By
PAULO TREVISANI
July 16, 2014 5:44 p.m. ET


he bank, dubbed New Development Bank, will start with $50 billion in capital, which is planned to expand to $100 billion over time. All five countries will have equal share and jointly manage the bank.

They also planned for a $100-billion contingency fund—which also requires approval from local legislatures—that will be used if a country needs access to foreign reserves. When it is operational—something a Brazilian official said won't happen until 2016—the fund could be tapped by countries in financial trouble.

After meeting in the coastal city of Fortaleza in Brazil's northeast on Tuesday, the heads of government and their entourages traveled to Brasilia, where they met with Latin American leaders at the Itamaraty Palace, the headquarters of Brazil's Foreign Ministry.

Among the Latin-American leaders was Argentina's President Cristina Kirchner, who is fighting to avoid a debt payment that she has called "extortion."

Argentina's trouble come from an order from a U.S. District Judge for the government to pay what could now amount to more than $1.5 billion to holdout bondholders. The government has appealed to the U.S. Supreme Court, which declined to hear Argentina's case, opening the possibility of a sovereign-debt default—the second by Argentina in 13 years—if the bill isn't paid by the end of this month.

The situation was discussed at the Brics summit during a closed-door event at Itamaraty. "We are under a massive speculative attack," Mrs. Kirchner said in her remarks, broadcast by Argentina's official YouTube channel. She didn't say whether the Brics will take any action to aid Argentina.
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newworldafro

newworldafro

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Poitier said:
According to a few idiots on this board, the BRICS are small-time :laugh:
Click to expand...

Oh yeah I remember, many many many posts on how this was a fluke. The same posters been gradually toning down their rhetoric...... folks have been trying to put them on to game for a minute :mjlol: :banderas:

And I've said it before, its not necessary for my own personal benefit to see BRICs rise, because essentially prices are going to begin to rise as more countries decide to stop using dollars in international trade. All those bills (digital and physical), will be scrapped, as in sent back to U.S. increasing inflation.

I mean look in the damn SUPERMARKET .........its outright ridiculous how quickly prices are already going up for all types of items.. .... I attempted to do a thread on this, but I got lazy. http://www.thecoli.com/threads/the-official-inflation-trillion-dollar-bill-thread.204813/
 
Domingo Halliburton

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newworldafro said:
Oh yeah I remember, many many many posts on how this was a fluke. The same posters been gradually toning down their rhetoric...... folks have been trying to put them on to game for a minute :mjlol: :banderas:

And I've said it before, its not necessary for my own personal benefit to see BRICs rise, because essentially prices are going to begin to rise as more countries decide to stop using dollars in international trade. All those bills (digital and physical), will be scrapped, as in sent back to U.S. increasing inflation.

I mean look in the damn SUPERMARKET .........its outright ridiculous how quickly prices are already going up for all types of items.. .... I attempted to do a thread on this, but I got lazy. http://www.thecoli.com/threads/the-official-inflation-trillion-dollar-bill-thread.204813/
Click to expand...

inflation has more to do with monetary expansion and trade deficits than international trade using the dollar.

China is the only real economy in these BRICs.
 
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