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World News
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Title: Argentina Collapses
Source: [None]
URL Source: https://republicannews.org/argentin ... RPNnewsletter&utm_medium=email
Published: May 17, 2023
Author: Staff
Post Date: 2023-05-17 21:28:44 by BTP Holdings
Keywords: None
Views: 497
Comments: 15

Argentina Collapses

(RepublicanNews.org) – Argentina’s attempts to stop its currency from melting down have left its central bank broke, Bloomberg reported.

According to the consulting firm 1816 Economia & Estrategia, Argentina has already drained its liquid international reserves as well as another estimated $1 billion as the South American nation contends with impending recession and a historic drought.

Without cash on hand, there is some question as to how much longer the government can prevent the peso from collapsing, and a currency devaluation will likely fan 104 percent inflation while exacerbating social unrest ahead of the October presidential elections.

For decades, Argentina has struggled to build and maintain healthy levels of international reserves, running through available cash to fight rising prices and meet its obligations on overseas bonds.

While the country now has less than $34 billion in foreign reserves, the majority is currently locked up in less liquid assets like gold, credit lines with the Bank of International Settlements and China, and any US dollars Argentines have in savings. This is a problem for a country desperately in need of cash on hand.

Its liabilities in foreign currency already outpace total reserves by around $1 billion, the worst ratio since Argentina’s economic crisis in the early 2000s.

Over the weekend, Bloomberg reported that the country plans to unveil a series of emergency measures to curb additional currency losses, including an increase to its key interest rate.

Argentina’s monetary authority will raise its benchmark interest rate by 600 basis points to 97 percent while boosting intervention in the foreign exchange market, an official from the Economy Ministry said.

The government plans to obtain further international support to increase its dwindling international reserves by speeding up deals with Brazil and China through the BRICS (Brazil, Russia, China, and South Africa) group and the International Monetary Fund.


Poster Comment:

Chart at source.

Hitler escaped to Spain at the end of WW II. From there he went to Argentina. I know this from reading the books Gestapo Chief by Gregory Douglas.

And what makes you think the Gestapo would be unable to switch Hitler's dental records?

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Begin Trace Mode for Comment # 6.

#1. To: BTP Holdings (#0) (Edited)

I hope he lived out a nice normal reasonably happy lifespan there. Argentina was a real country back then and is ever fascinating despite its constant torture by political criminals.

NeoconsNailed  posted on  2023-05-18   0:01:00 ET  Reply   Untrace   Trace   Private Reply  


#2. To: NeoconsNailed (#1)

Argentina was a real country back then and is ever fascinating despite its constant torture by political criminals.

Indeed, Juan Peron was a Fascist. So what better place for Hitler to flee than to Argentina.

Otto Skorzeny, the former Austrian born Waffen-SS Obersturmbannführer (Lieutenant Colonel) who was deemed by the Nuremburg Tribunals to not have committed war crimes, moved to Spain and was running the movement to get escaped Nazis to Argentina. ;)

BTP Holdings  posted on  2023-05-18   22:04:35 ET  Reply   Untrace   Trace   Private Reply  


#3. To: BTP Holdings (#2)

Well good on him! But what makes J. Peron a fascist? Does this mean the vaunted Eva was too?

NeoconsNailed  posted on  2023-05-19   10:05:27 ET  Reply   Untrace   Trace   Private Reply  


#4. To: NeoconsNailed (#3) (Edited)

But what makes J. Peron a fascist?

Why do you think so many former Nazis fled to Argentina?

Otto Skorzeny was running the pipeline from Spain to Argentina.

As far as the skull that was in Russia, what makes you think the Gestapo would be so inefficient to not make sure dental records were switched?

The Germans were nothing if not methodical. ;)

BTP Holdings  posted on  2023-05-19   20:15:51 ET  Reply   Untrace   Trace   Private Reply  


#5. To: BTP Holdings (#4)

What do you know

en. wikipedia.org/wiki/Jua...%C3%B3n#Fascist_influence

NeoconsNailed  posted on  2023-05-20   11:02:18 ET  Reply   Untrace   Trace   Private Reply  


#6. To: NeoconsNailed (#5)

https://en.wikipedia.org/wiki/Juan_Per%C3%B3n#Fascist_influence

From the link:

"During his reign, Perón and his administrators often resorted to organized violence and dictatorial rule."

This sounds a bit familiar, doesn't it? Sort of like when the SA caused riots prior to Hitler becoming Chancellor of Germany. ;)

BTP Holdings  posted on  2023-05-20   14:42:48 ET  Reply   Untrace   Trace   Private Reply  


Replies to Comment # 6.

#7. To: BTP Holdings (#6)

Who says the Notzees caused riots -- Kissinger? Tuchman? CBS? MGM?

NeoconsNailed  posted on  2023-05-20 15:40:37 ET  Reply   Untrace   Trace   Private Reply  


End Trace Mode for Comment # 6.

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