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ChooseLiberty
04-07-2009, 12:57 PM
Very instructive.

http://video.google.com/videoplay?docid=4353655982817317115&ei

idiom
04-07-2009, 02:24 PM
There is a list of videos floating around here somewhere...

ChooseLiberty
04-08-2009, 01:25 PM
Don't know where the list is so I'll give it another bump.

cthulhufan
04-08-2009, 02:09 PM
This is great so far. Thanks for posting.

hotbrownsauce
04-08-2009, 02:31 PM
If you want to read from someone's personal experience in the collapse in Argentina visit a post I made last December.

The long essay describes things that happened and what to expect in a similar situation.

http://www.ronpaulforums.com/showthread.php?t=173358

hotbrownsauce
04-08-2009, 02:36 PM
*EDIT*
Double post sorry.
http://www.ronpaulforums.com/showthread.php?t=173358

cthulhufan
04-08-2009, 02:58 PM
Yes, I remember that, it was a good read.

ChooseLiberty
04-08-2009, 11:47 PM
Notice at 21:06 in the vid Argentina had an Economy Minister named - Grinspun - in 1983?

Grinspun? Greenspan? WTF?

Argentina's first national loan was negotiated in the 1800's with Baring Brothers?

Sound familiar?

Quigley:

INTRODUCING SOME OF THE MAJOR BANKING FAMILY DYNASTIES:

"The greatest of these dynasties, of course, were the descendants of Meyer Amschel Rothschild (1743-
1812) of Frankfort, whose male descendants, for at least two generations, generally married first cousins
or even nieces. Rothschild's five sons, established at branches in Vienna, London, Naples, and Paris, as
well as Frankfurt, cooperated together in ways which other international banking dynasties copied but
rarely excelled.

''The names of some of these other banking families are familiar to all of us and should be more so. They
include Baring, Lazard, Erlanger, Warburg, Schroder, Selingman, the Speyers, Mirabaud, Mallet Fould,
and above all Rothschild and Morgan. “(pp. 51-52 )

http://www.ronpaulforums.com/showthread.php?t=186685

ChooseLiberty
04-08-2009, 11:58 PM
Good info, but it sounds like he is talking about a relatively current situation.

Is Argentina still in the crapper?



If you want to read from someone's personal experience in the collapse in Argentina visit a post I made last December.

The long essay describes things that happened and what to expect in a similar situation.

http://www.ronpaulforums.com/showthread.php?t=173358

ChooseLiberty
04-09-2009, 12:10 AM
The IMF, World Bank and IIF all got in on the act.

When Venezuela starts financing Argentina's debt Goldman Sachs whines and Argentina's economy booms.


en.wikipedia.org/wiki/Economy_of_Argentina


Debt restructuring and the role of the IMF

In a speech before the United Nations General Assembly in May 2004, President Kirchner asked for "a structural redesign of the International Monetary Fund", which has changed "from being a lender for development to a creditor demanding privileges".

Shortly after, at the meeting of the IMF and the World Bank, leaders of the IMF, the European Union, the Group of Seven industrialised nations, and the Institute of International Finance (IIF), advised Kirchner that Argentina must come to a debt-restructuring agreement, increase its primary budget surplus to pay more debt and impose "structural reforms" to regain the trust of the world financial community.

The debt restructuring process was long and complex. Argentina offered a steep discount on its obligations (approximately 70%) and finally settled the matter with over 76% of its defaulted creditors (the default did not include the IMF, which has continued to be paid on time).

In December 2005, Kirchner decided to liquidate the Argentine debt to the IMF in a single payment, without refinancing, for a total of $9.8 billion. The payment was partly financed by Venezuela, who bought Argentine bonds for US$1.6 billion.[56]

In 2006, Argentina reentered international debt markets selling US$500 million of its Bonar V five year dollar denominated bonds, with a yield of 8.36%, mostly to foreign banks and Moody's boosted Argentina's debt rating to B from B-.[57] However, the reliance of Argentina on Venezuela for a large portion of its financing needs has not been well received in Wall Street circles. On July 18, 2006 Goldman Sachs Emerging Markets Research noted: "Instead of trying to restore its credibility with the broad capital markets, the government keeps on relying on Venezuela as its main credit supplier" (as quoted in the Wall Street Journal on July 28, 2006). The total amount of Argentina's debt held by Venezuela is estimated at around US$6 billion, as of mid-2008.[58] Continuing her husband's policy of debt cancellation, President Cristina Kirchner announced the repayment of Argentina's US$6.7 billion debt to Paris Club creditors on 3 September 2008.[59]

President Néstor Kirchner savors the moment in a reopened cookie factory, 2004.


Economic expansion

The Argentine economy has been growing again with surprising strength: 9% annual growth, sustained for five consecutive years (2003 through 2007). This stability was initially due to a surge in trade surpluses (over all previous historical records) and the sustained growth has been led by an over three-fold jump in business investment since the 2002 low.[2] This reflects the return of local and international confidence, as well as record public works investment and a vigorous incomes policy on the part of former Economy Minister Roberto Lavagna and as general policy in the two Kirchner Administrations.[60] Private sector employers have, since then, created over 3 million jobs and recovered median pay to over US$800 a month (about US$1,600, in purchasing power parity terms), a level closer to Argentina's historical average.[6][61] This has boosted local consumption by two-thirds in real terms, though foreign investment has increased only modestly.[2]

The Kirchners have also addressed deficiencies among certain public services privatized during the 1990s, revoking licences granted to private interests at the time; among these, some of the most notable have been: the national postal service (2003), the San Martín Railway line (2004), the water utility serving the Province of Buenos Aires (2006)[62] and, recently, Aerolíneas Argentinas.[63] Private pension funds, which were first licenced in 1994, suffered large losses during the 1998-2002 crisis and by 2008, the state subsidized 77% of the funds' beneficiaries, including 40% whose annuities could not cover minimum monthly pensions; of the funds' 9.5 million affiliates, nearly 6 million had stopped making contributions.[64] The 2008 financial crisis exacerbated the problem and on 20 October, Pres. Cristina Kirchner announced plans for the nationalization of the funds' investments of nearly US$30 billion, while leaving contributors the freedom to invest in private pension funds, which the central bank plans to purchase a minority stake in.[64][65] The plan's congressional passage a month later was accompanied by a package of incentives designed to make credit more accessible and to stimulate slowing domestic growth, as well as expanded export and loan subsidies and a US$32 billion public works program for 2009-2010 (a record).[66]

Manufacturing in Argentina has recovered quickly from the crisis. Benefiting from an undervalued local currency that allowed industry to produce goods with competitive prices in the international market, manufacturing in general has grown by over 60% since 2002 and some long-suffering industries, such as textiles, furniture, machinery, construction materials and publishing have more than doubled their output.[67] Motor vehicle output, in particular, has jumped from a depressed 159,000 units in 2002 to a record 597,000 units in 2008 (auto sales have risen even more).[37]

idiom
04-09-2009, 12:56 AM
Don't know where the list is so I'll give it another bump.

If anybody finds it let me know eh.

hotbrownsauce
04-09-2009, 01:41 PM
are you talking about these videos??

http://www.ronpaulforums.com/showthread.php?t=173764

http://www.ronpaulforums.com/showthread.php?t=129763

idiom
04-09-2009, 04:50 PM
I knew someone knew where it was.