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Argentina's Modest Proposal: Buy Bonds Or Go To Jail

Tyler Durden's picture





 

While Argentina's recent extraordinary attempts at central planning have been widely documented, ranging from freezing supermarket prices in a (failed) attempt to control inflation, to banning advertising in a (failed) attempt to weaken the private media, so far nothing has worked at stabilizing the economy and preventing the collapse in the domestic currency (if leading to such humorous viral videos as #mequieroir). Ironically, this is both good and bad news. It is good news because as we showed two days ago, even the ludicrous speed rise in the Nikkei has been a snail's pace compared to that other unknown "Nation 1." We can now reveal that while Japan is Nation 2, Nation 1 is that inflationary basket case Argentina, and specifically its Merval stock index.

Of course, the surge in the stock index is nothing more than a reflection of the ongoing collapse in the economy, which in turn is reflected not by the official, government controlled exchange of the ARS (just try buying dollars at the official rate) which closed the week at a rate of 5.24 to the dollar, then certainly the black market one, showing just how weak the currency is for those who actually want to buy dollars in Argentina, which just hit a record high of over 10. In fact, as the chart below shows, when one factors in the 80% collapse in the real, unofficial exchange rate over the same time period, the stock index has barely kept up.

Furthermore, it is merely a time before the runaway inflation pushes corporate input costs so high, that not even the rise in the stock market can preserve wealth.

Still think soaring stock prices in the New Normal are an indication of anything but a collapse in the economy manifested by either current, or discounted, plunges in the purchasing power of a sovereign's currency?

And just to make sure there is no confusion, the full context here is that while the rest of the G-0 world at least has each other's central banks to fund mutual debt purchases, Argentina has been locked out from the global community for a variety of reasons. And yet, like any other Keynesian follower, the nation is desperate to borrow from the future in order to grow government now. However, without access to capital markets how will the country with the imploding currency do this?

Simple. 

Argentina's president Kirchner, a keen observer of recent events in Cyprus, has figured out a way to kill two birds with one stone, namely attempt to put an end to tax evasion, and fund the capex of the recently nationalized state oil company YPF (now that its former owner, Spainish Repsol, is less than keen to keep investing in its former Argentine subsidiary). To do that she will present the local tax-evading population (pretty much anyone with any disposable income and savings) with a simple choice: buy a 4% bond to fund YPF "growth" or go to prison.

From Bloomberg:

President Cristina Fernandez de Kirchner wants tax evaders hiding about $160 billion in dollars to help finance Argentina’s oil-producing ambitions. Her offer: Buy a 4 percent bond or face the prospect of jail time.

The tax authority announced the plan May 7, highlighting its information-sharing agreements with 40 nations and warning Argentines who don’t use the three-month amnesty window that they risk fines or arrest. Evaders have two options for their cash and the only one paying interest will be a dollar bond due in 2016 to finance YPF SA (YPF), the state oil company. The 4 percent rate is a third the average 13.85 yield on Argentine debt and less than the 4.6 percent in emerging markets.

Speaking of YPF's growth, we made it very clear a year ago when we reported on the latest "banana republic" nationalization of formerly efficient and private assets, that it was only a matter of time before an overarching government's epic misallocation of resources, leads to epic inefficiencies, and a liquidity scramble. It is not rocket science: only hardcore socialists can harbor any hope that a government is efficient at allocating capital, especially when one nets out the 50% or so in corruption "externalities" that are incurred along the way, be it in Argentina or the US. Once again we were right:

A year after seizing YPF, Fernandez is funneling more money into the nation’s energy industry as the government struggles to boost production from the world’s third-biggest shale oil reserves. With Argentina already committed to pumping $2 billion of central bank reserves into a fund for energy investments and the highest borrowing costs in emerging markets keeping it from issuing debt abroad, the government is eyeing the billions of undeclared dollars that Argentines hold to help shore up reserves that have dwindled to a six-year low.

 

“The authorities need to take steps to open up external resources in the energy sector and to finance the Treasury and local governments,” said Sebastian Vargas, a New York-based analyst at Barclays Plc. “The amnesty is not negative for markets but it’s disappointing because they do little to solve balance-of-payment difficulties.”

There are some cynics who will say what Argentina is doing on a semi-voluntary basis is what that other bastion of wealth expropriation, the European Union, did to Cypriot savers. They will be right of course, if only for the simple reason that Argentina does not know precisely where all the "illegal" tax-evading, offshore (and onshore) capital is held.

Argentines have at least $160 billion of undeclared funds, equal to about 36 percent of the nation’s gross domestic product, and $40 billion are hidden inside the country, Vice Economy Minister Axel Kicillof said at the May 7 press conference where he and other senior officials presented the amnesty.

 

Many Argentines hide assets to avoid a 35 percent income tax and a levy of as much as 1.25 percent on their personal wealth. Undeclared assets are also beyond the reach of the government, which in 1989 seized bank certificates of deposit in exchange for bonds and in 2002 converted dollar deposits into pesos.

In other words, unlike in Europe, where Russia's 'tax-efficient' billionaires had a bright shining red light blinking over Cyprus saying "we are here" (a light that is now blinking over Luxembourg, Lichtenstein and of course, Switzerland, not to mention other global offshore tax havens), in Argentina the government first has to find the money. Which is why its initial recourse is the conventional one: simple threats.

Those joining the plan would be immune from prosecution and won’t be forced to pay past-due taxes, said Ricardo Echegaray, head of the tax agency. The search for evaders, which includes cross-checking information on income and personal wealth reports with purchases of real estate and cars, foreign travel and credit card purchases, will continue, Echegaray said.

 

“You better bring your dollars back because we will find you,” Echegaray said at the May 7 press conference. Last year, tax collection in South America’s second-largest economy rose to 37 percent of gross domestic product from 16.5 percent in 2002, according to Economy Ministry data.

 

Former Vice Economy Minister Roberto Feletti, who is now a congressman for Fernandez’s Victory Front alliance, said the government expects to attract at least $5 billion under the program.

Good luck with that - the only thing Argentina will succeed is in forcing tax evaders to hide their money even deeper into the global shadow economy.

The amnesty program will probably fail because its benefits don’t outweigh investors’ mistrust of the government’s ability to rein in inflation, cut spending, attract foreign investment and restore confidence in the currency, according to Moody’s Analytics Inc.

 

“The problem the government faces is lack of credibility and lack of confidence,” Juan Pablo Fuentes, an economist at Moody’s, said in a telephone interview from West Chester, Pennsylvania. “That money is potentially there, it could come back eventually, but there needs to be a lot of changes. These bonds are not going to have any real impact.”

And in the meantime YPF, which can't afford to wait on capital infusion, will have less and less cash with which to operate and grow, until finally it is mothballed, dimming the one bright light in Argentina's economy, and leading to an even faster economic contraction, even more rapid devaluation of the Peso, if only in the black market of course, and an ever faster surge in inflation.

But at least the stock market will be off the charts: sounds like a fair exchange for yet another economy sent to an early grave by central planners.

 


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Sat, 05/11/2013 - 11:33 | Link to Comment Kirk2NCC1701
Kirk2NCC1701's picture

I propose they ALL "Go to Jail, go directly to Jail, do not collect $200 USD".  Not even 200 Pesos.  Oh wait, aren't they there already?

Sat, 05/11/2013 - 11:42 | Link to Comment flacon
flacon's picture

More violence perpretrated by governments... it's just sick. 

Oh and by the way in the neew Monopoly, it's "Collect $2,000,000 if you pass GO". Inflation has even affected Monopoly money. 

Sat, 05/11/2013 - 11:55 | Link to Comment Careless Whisper
Careless Whisper's picture

The Careless Whisper NO HONOR AMONG THIEVES News Update & Threadjacking

BLOOMBERG MAY HAVE ACCESSED GOLDMAN CHAT INFO

http://www.nytimes.com/2013/05/11/business/media/privacy-breach-on-bloom...

Sat, 05/11/2013 - 13:50 | Link to Comment Blano
Blano's picture

AKA the CW kinda late to the party thread cause this has already been on ZH.

Sat, 05/11/2013 - 14:12 | Link to Comment malikai
malikai's picture

So let me get this straight. Kirchner wants to get free money to waste on crony oil contracts or whatever and to do this she's telling everyone in the unofficial dollar market to give em up for bonds?

I wonder how she's going to enforce this?

Sat, 05/11/2013 - 16:49 | Link to Comment AldousHuxley
AldousHuxley's picture

what do you think Social Security is? even worse return than bonds.

 

buy ponzi scam or go to jail for failure to pay "taxes"

 

Sat, 05/11/2013 - 17:23 | Link to Comment Lost Word
Lost Word's picture

Ponzi seems good at the beginning.

Too late now, too far gone, to not join and not play the Tyranny Government game.

Sat, 05/11/2013 - 17:05 | Link to Comment anonnn
anonnn's picture

YPF Repsol et al plundered the Arg government of its nationsl oil interests after the gov  demonstrated successful production and proven reserves. Reveiw the history of smiling Menem.

Pure plunder and fraud by competent thieves with evil intentions..

 Here's a pretty good documentary at YouTube:

https://www.youtube.com/watch?v=Zsqa-YHE36A

Sat, 05/11/2013 - 12:13 | Link to Comment Taffy Lewis
Taffy Lewis's picture

Flacon, have you seen the Monopoly version that has no cash? Instead it has a sorta cash register and debit cards... Learning math by counting money is the strength of Monotony, and I was floored when my mom bought that version for my kids for Christmas. Unfortunately, it quickly got lost.

Sat, 05/11/2013 - 12:44 | Link to Comment flacon
flacon's picture

I've seen them at Toys R USA, but I didn't bother to really look at it. I am glad the my kids are learning to count zeros (,000,) so that when they finally become teenagers they will be quadrillionaires. That's the only benefit of Monopoly. Oh, and BUY, BUY, BUY, BUY! Nobody ever SELLS in Monopoly. It's all good for the stock market. "Pump and Pump" scheme in the minds of the youth. 

Sat, 05/11/2013 - 14:17 | Link to Comment Mr. Magniloquent
Mr. Magniloquent's picture

Somehow I doubt this historical anecdote will be taught in grade school civics courses. I imagine it might undermine the enitre legitimacy via the "Social Contract".

Sat, 05/11/2013 - 11:43 | Link to Comment AlaricBalth
AlaricBalth's picture

The US Treasury's modest proposal: If you want to maintain the tax deferral status of your 401k or IRA, you be required to buy treasury bonds through a government annuity plan.

These thieves will do anything to maintain the ponzi. They must have new money coming in to keep it going. Just like Bernie Madoff.

http://www.economicpolicyjournal.com/2012/12/how-government-is-coming-af...

Sat, 05/11/2013 - 11:51 | Link to Comment otto skorzeny
otto skorzeny's picture

Cashing out 401Ks now-lose a little now or a lot/all of it later. "you be required"- are you Charles "we ate ribs wit dis dude" Ramsey?

Sat, 05/11/2013 - 11:52 | Link to Comment AlaricBalth
AlaricBalth's picture

Yup.
Otto. I noticed your comment below after I typed mine.
You are spot on.

Sat, 05/11/2013 - 12:15 | Link to Comment otto skorzeny
otto skorzeny's picture

Panic first-panic best.

Sat, 05/11/2013 - 12:50 | Link to Comment Gromit
Gromit's picture

Wall street has a powerful lobby and lives off fees on retirement accounts so they'll fight this tooth and nail.

Sat, 05/11/2013 - 13:48 | Link to Comment Pure Evil
Pure Evil's picture

Not as long as they're the one's MANAGING the funds.

Vanguard Treasury Fund

Fidelity Funds

And, just think, even the states could get in on the act, meaning that states could require that that state' municipal bonds be included in any retirement accounts.

Municipal Funds

Come on comrads, do your patriotic duty, invest in .gov bonds.

FORWARD SOVIET!

Sat, 05/11/2013 - 11:53 | Link to Comment Rory_Breaker
Rory_Breaker's picture

Go to jail and give us all your monies.

Sun, 05/12/2013 - 04:20 | Link to Comment samcontrol
samcontrol's picture

Tyler hire me on Argentina, you are somewhat offtrack.

The 4% on the bond thingy is to get This bitch , BAEZ , and all the other money laundrymen in her court to legalize their shit.

0 Argentinians will go with it,,or go to jail,,to funny and NOT going to happen, If the bitch can find it she can have it!

Sat, 05/11/2013 - 11:38 | Link to Comment francis_sawyer
francis_sawyer's picture

ZH's Modest Proposal:

~~~

- How to report offensive comments [http://www.zerohedge.com/help/report-offensive-comments]

- Notice on racial discrimination [http://www.zerohedge.com/help/notice-racism]

Sat, 05/11/2013 - 11:39 | Link to Comment Uncle Remus
Uncle Remus's picture

Wait - iz dat rayciss?

Sat, 05/11/2013 - 11:40 | Link to Comment Rory_Breaker
Rory_Breaker's picture

Enforcement will be on par with SEC standards.

Sat, 05/11/2013 - 11:44 | Link to Comment francis_sawyer
francis_sawyer's picture

Well... I... For one... Am 100% in FAVOR of this policy... So in favor... In fact... That I'm going to remind people about it every day so as to ASSIST with compliance...

~~~

See something, say something bitchez!

Sat, 05/11/2013 - 11:45 | Link to Comment otto skorzeny
otto skorzeny's picture

So much for fight club.

Sat, 05/11/2013 - 11:49 | Link to Comment Frastric
Frastric's picture

Did fight club having constant jew-bashing?

Sat, 05/11/2013 - 11:50 | Link to Comment Rory_Breaker
Rory_Breaker's picture

Was this just about the jews? If so, maybe some of it was warranted.

Sat, 05/11/2013 - 11:54 | Link to Comment Frastric
Frastric's picture

I said this site has a lot of Jewish bashing, but I'm okay with bashing the Zionists since they're as nutty as banksters and Nazis.

Sat, 05/11/2013 - 11:56 | Link to Comment Rory_Breaker
Rory_Breaker's picture

Copied

Sat, 05/11/2013 - 12:10 | Link to Comment francis_sawyer
francis_sawyer's picture

I don't know about any of that... You used the term "bashing"... Does questioning 'asymmetric representation' [with nary...EVER... an answer or conclusion] in something qualify as 'BASHING'?

Sat, 05/11/2013 - 12:13 | Link to Comment Uncle Remus
Uncle Remus's picture

No.

Sat, 05/11/2013 - 12:26 | Link to Comment francis_sawyer
francis_sawyer's picture

Moreover

~~~

It has been argued & concluded here, to my recollection, that the cult of 'Luciferianism' is whats responsible... Now... The only problem that remains is the delicate matter of tippytoeing through the minefield of whether it passes muster in the 'COMPLIANCE COMMITTEE' to criticize [the ostensibly 'religious' order of the Luciferians, or are they a 'race'?]... Or maybe even 'clowning around' needs to cease & desist in the NEW KHAKI PANTS ORDER OF THE BIG BROTHER...

I'm really unclear on all of this... & I'm trying to do my best to be a good & model citizen...

[It's like LEVERED SHORTING paper gold people]...

Sat, 05/11/2013 - 12:33 | Link to Comment Uncle Remus
Uncle Remus's picture

Too bad we can't ask Chavez. But, he did leave us a clue.

"The devil came here yesterday," Chavez said, referring to Bush, who addressed the world body during its annual meeting Tuesday. "And it smells of sulfur still today."

Hey wait a minute - does Bush transliterate from the Aramic "Luciferian"?

Sat, 05/11/2013 - 12:38 | Link to Comment Jayda1850
Jayda1850's picture

If this is Tyler's way of making the site more mainstream and acceptable to the masses, I'm a little befuddled. No matter how politcally correct this site gets, TPTB will find a way to denigrate the info on this site because it is such a threat to them. For all the posts on internet freedom and free speech, I'm a little concerned about the slippery slope of censorship with this new policy, since it relies on the sensibilites of what is offensive and discriminatory to certain users. God forbid this site starts deleting comments and users due to what might offend users like MDB and Dr. Paul Krugman. I hope the tylers take a lenient view when enforcing this policy

Sat, 05/11/2013 - 12:42 | Link to Comment Uncle Remus
Uncle Remus's picture

Likely, it's about appearances. Substance ist verboten - kind of like the brick wall at the back of the stage FZ was talking about.

Sat, 05/11/2013 - 13:02 | Link to Comment francis_sawyer
francis_sawyer's picture

@Jay

~~~

There are only two possibilities [that come to my mind]

1. ZH as been 'SOLD' [& or is courting lucrative ad sponsors]... Just this morning there were HUGE pop-ups from both "Sprint" & "Capital One"... IOW ~ This ain't no longer 'Snorg T Shirt Ville'... Whereby ~ It's a SHAME...

2. I still can't... After 4 years... Imagine a scenario whereby the 'TYLERS' chuck THE FIGHT CLUB meme to the wind & go PC... Maybe it was just a brain fart... In any case ~ even if that was a conscious decision [which would, ostensibly, be revealed by way of BANNING certain USERS, (WHICH IN MY MIND'S EYE WOULD BE THE 'TELLING FACTOR')]... I still can't fathom any decision to DEFAULT to becoming a HUFFPO, YAHOO, OR DRUDGE as a means to GAIN audience... But in any case ~ It's NOT my decision...

If anyone else has any reasonable explanations... Please feel free to tell me how FOS I am...

Sat, 05/11/2013 - 13:52 | Link to Comment SubjectivObject
SubjectivObject's picture

3.  The Tyler(s) are being pressured by the same plug pulling empowered forces that control 90% of everything else (well then, effectively 100%).  This may be the action of the rumored secret cabal, called juecers, who liquify anything of substance that annoys them.  A description of the features and characteristics of how it plays out is irrelevant, the Tyler(s) are jueced, and that's all that matters.  Good luck giving credibility for anything else that ... flows ... out of the club.  But before the plug is finally pulled, an expose on how and by who pressure is applied would be ... edifying.  Hi Ben!

Sat, 05/11/2013 - 23:16 | Link to Comment thisandthat
thisandthat's picture

There's jurisdictions and jurisdictions - relocating servers is a trivial thing to do.

Sat, 05/11/2013 - 16:14 | Link to Comment Jayda1850
Jayda1850's picture

I just made a donation. My thinking is that if #1 is correct, maybe my donation no matter how small may help offsetting the ad revenue and also if we are going down the whole censorship route, I figure the more money I give the more racist I can be.

Sat, 05/11/2013 - 16:26 | Link to Comment francis_sawyer
francis_sawyer's picture

Thank you for your donation... Your account is hereby terminated...

~~~

aka 'YOU'VE been 'Corzined'... bitch...

Sat, 05/11/2013 - 23:13 | Link to Comment thisandthat
thisandthat's picture

That would be the worst marketing strategy I've ever seen - worse even than fucking Paypal/Visa vs. Wikileaks (which most likely garnered them plenty patridiot support, btw), but I doubt they're having financial problems (heck, if they're worth even a tenth of the information they publish, they don't even need this site to enjoy a lavish life). Sure beat way to not support a site.

Sun, 05/12/2013 - 16:33 | Link to Comment Kobe Beef
Kobe Beef's picture

Just say 5 "Diversity is our Strength"s 

&

2 "FORWARD!"s

& all your sins will be forgiven, komrade.

 

In all seriousness, this sucks. "Political Correctness" was first coined by Vladimir Lenin. "Racism" was invented by Leon Trotsky. Now Zero Hedge is on the Bolshevik bandwagon? 

 

Sat, 05/11/2013 - 13:11 | Link to Comment Tango in the Blight
Tango in the Blight's picture

I reported you for this. As a Luciferian I feel shocked and abhorred that this filth is allowed anywhere on the internet lest alone a decent and upstanding site such as ZeroHedge.

 

/sarc

Sat, 05/11/2013 - 14:27 | Link to Comment francis_sawyer
francis_sawyer's picture

Well therefore ~ Now that I can count on THE DEVIL being against me... I'm sure the 'CEASE & DESIT' order will be placed on francis_sawyer forthwith... Despite compliance with THE RULE...

Sat, 05/11/2013 - 14:37 | Link to Comment Whatta
Whatta's picture

you've been reported to the New Alliance of Zionist Interventionists...or NAZI's for short.

Sat, 05/11/2013 - 11:55 | Link to Comment AlaricBalth
AlaricBalth's picture

"Any user found to be discriminating against ANY race, religion, or affiliation, will be banned immediately, and have their comments removed from the system."

It's like a FEMA camp for comments, where they disappear into an undisclosed location never to be seen again.
;-)

Sat, 05/11/2013 - 12:15 | Link to Comment Buckaroo Banzai
Buckaroo Banzai's picture

1st RULE: You do not talk about FIGHT CLUB.
2nd RULE: You DO NOT talk about FIGHT CLUB.

3rd RULE: If someone says "stop" or goes limp, taps out the fight is over.

4th RULE: Only two guys to a fight.

5th RULE: One fight at a time.

6th RULE: No shirts, no shoes.

7th RULE: Fights will go on as long as they have to.

8th RULE: If this is your first night at FIGHT CLUB, you HAVE to fight.

I don't see anything in there about "discrimination."

Sat, 05/11/2013 - 12:19 | Link to Comment francis_sawyer
francis_sawyer's picture

@Buckaroo

~~~

As of yesterday...

http://www.zerohedge.com/help/notice-racism

Sat, 05/11/2013 - 12:44 | Link to Comment Buckaroo Banzai
Buckaroo Banzai's picture

Indeed, I am aware of the "new rule". My point is, it doesn't fit into the original spirit of this website.

Sat, 05/11/2013 - 14:38 | Link to Comment PC Load Letter
PC Load Letter's picture

It's clear now that this site has gone mainstream. No more ads for Japanese girls or graphic t-shirts, we now get Trade Station and Sprint. Damn shame - I used to like the fringe nature of ZH. We've gone from Fight Club to UFC

Sat, 05/11/2013 - 14:50 | Link to Comment Dyhana
Dyhana's picture

Truly is a shame PC, mainstream is anathma to me, but on the upside, someone else may start a blog with the ZH spirit and without the censorship. I don't believe in censorship, to me it's right up there with book banning, if people don't like it, they don't have to read it.

Sat, 05/11/2013 - 18:31 | Link to Comment 11b40
11b40's picture

Or maybe they could just fight back! Wouldn't that be in the true spirit of what we come here for?

I'm closing in on 4 years here, and have noticed the exponential growth in readership. My guess is, ZH is about to join the rest of the cabal and become 'monetized'. Shouldn't take long to see. Stay tuned.

Sat, 05/11/2013 - 18:36 | Link to Comment MiltonFriedmans...
MiltonFriedmansNightmare's picture

ZH IPO in 3, 2, 1......

Sat, 05/11/2013 - 18:08 | Link to Comment Radical Marijuana
Radical Marijuana's picture

After May 10, 2013,

Zero Hedge may no longer be worth posting on?

http://www.zerohedge.com/help/notice-racism

Racism, to include any religious affiliation, will not be tolerated in ANY FORM on this site, including the disparagement of people in the comments section.

Oh well, as soon as I discover that my comments get deleted, then I will stop posting comments. To prohibit "any form of discrimination," effectively means the prohibition of the expression of critical thinking. To be required to deliberately ignore the social fact constellations which surround different races and/or religions amounts to deliberate ignorance. When Zero Hedge does that, it effectively shuts down rational debate. The only permissible discussions become those which ignore some of the most important social facts.

Generally speaking, I already presume that it is only a question of time until there no longer exists any significant freedom of expression, since we appear to be already committed to going through the stages of social insanity towards democidal martial law. ... However, meanwhile, I will likely keep on irrationally hoping for some series of political miracles to ameliorate those trends, BUT, realistically speaking, I expect the social situation to become unbearably too insane, at an exponentially accelerating rate, whereby there will be nothing left but murders and madness, driving more mad murders, in a vicious spiral, like social storms. Those who happen to be where the corresponding tornadoes touch down will rather they had not been there then ...

Sat, 05/11/2013 - 22:04 | Link to Comment MythicalFish
MythicalFish's picture

Noticed that too. Used to be dating and bitcoin mining, now I get offers for overpriced real estate and budget airlines. Go figure.

Sun, 05/12/2013 - 01:38 | Link to Comment francis_sawyer
francis_sawyer's picture

@Radical Marijuana

~~~

Exceptionally well articulated...

[but of course there are going to be the likes of kito, fonz, & Element who are HAPPY to be on HuffPo ~ without having to admit to anyone that they're on HuffPo]...

Sun, 05/12/2013 - 09:01 | Link to Comment Element
Element's picture

Relax frank, was just trying to lighten you up, you took it entirely the wrong way.

Sat, 05/11/2013 - 14:46 | Link to Comment Dyhana
Dyhana's picture

Totally agree Buckaroo. Love(d) reading this site and comments because of the freedom, always thought ZH would stay the rebel. I may not agree with comments, I may find some people get on a hate mantra and can't get off of it, but uncensored commments do give a very clear insight into the psycology of a small cross-section of the population, which I find enlightening.

Sat, 05/11/2013 - 14:41 | Link to Comment Whatta
Whatta's picture

"

To report any form of discrimination, please right click on the comment number, copy the link to the comment, and send the comment link to abuse [at] zerohedge.com. 

 

Any user found to be discriminating against ANY race, religion, or affiliation, will be banned immediately, and have their comments removed from the system."

Did the Obama Adminstration buy-out ZH?

I guess we all have to go through a metal detector to enter the site now as well?

Sat, 05/11/2013 - 14:43 | Link to Comment Whatta
Whatta's picture

And, I am guessing, that by extension of the above mentioned new rule that the IRS would be banned from commenting here for their admission to targeting and discriminating against Teabaggers.

Sat, 05/11/2013 - 20:52 | Link to Comment Real Estate Geek
Real Estate Geek's picture

I'm offended by the term Teabagger.

Sat, 05/11/2013 - 12:24 | Link to Comment Taffy Lewis
Taffy Lewis's picture

I don't call it "discrimination"; I like math and call it "the default value".

Pick a race, religion, or affiliation. What's the default value? If you're not the default value, then that's cool with me but initially you have a default value.

 

Sat, 05/11/2013 - 12:35 | Link to Comment jimmytorpedo
jimmytorpedo's picture

Wait,...are bankers an affiliation?

Now we can't even say anything bad about bankers?

Nazi's are an affiliation, I guess we better be nice to Nazi's from now on too.

Aww, I'm finally starting to get warm fuzzies from ZH.

Now we can all be sooo nice on here.

Let's all hug.

Sun, 05/12/2013 - 07:46 | Link to Comment Urban Redneck
Urban Redneck's picture

It's right next to "No Shirts, No Shoes" -- if one needs the Fallacy of Composition move to bolster his argument it's a weak argument to begin with, or the fighter is rhetorically weak.

Sat, 05/11/2013 - 18:44 | Link to Comment thisandthat
thisandthat's picture

 

will be banned immediately, and have their comments removed from the system.

Well, from there, at least you can be sure you won't ever hear ZH bitching about lack of due process or tampering of evidence again... I just wonder if bashing crime syndicate affiliation is included in said discrimination...

Sun, 05/12/2013 - 05:22 | Link to Comment sadmamapatriot
sadmamapatriot's picture

Oh fuck! I hate the muzzie ragheads. Actually, all of the Muslim satanic cult. Is Tyler going to ban me? Testing, testing?

Just in case, nice to rumble with you guys. Thanks for letting a girl play.

Sat, 05/11/2013 - 11:54 | Link to Comment otto skorzeny
otto skorzeny's picture

you forgot catch-all "anti-semite".

Sat, 05/11/2013 - 12:16 | Link to Comment Uncle Remus
Uncle Remus's picture

semantics

Sat, 05/11/2013 - 19:51 | Link to Comment thisandthat
thisandthat's picture

anti-semantic

Sat, 05/11/2013 - 16:32 | Link to Comment booboo
booboo's picture

anti-semite? bullshit, some of my best friends are in the navy and if that ain't enough proof, well, i have fathered children, so there.

Sat, 05/11/2013 - 12:50 | Link to Comment Buckaroo Banzai
Buckaroo Banzai's picture

"Did Fight Club have constant Jew-bashing?"

That's not the point. If someone here has a problem with Jews, I want to know about it. Doesn't mean I agree with it, or think the person is right or wrong, or whatever. It is important contextual information that helps me evaluate the rest of what they are saying.

Sat, 05/11/2013 - 14:35 | Link to Comment PontifexMaximus
PontifexMaximus's picture

Contextual information

Sat, 05/11/2013 - 14:53 | Link to Comment Uncle Remus
Uncle Remus's picture

Kinda like situational ethics.

Sat, 05/11/2013 - 15:19 | Link to Comment Edelweiss
Edelweiss's picture

  I've been following ZH for over three years now, and the new policies seem very odd.  It's always had an edge to it that other sites don't.  That's why I come here.  If you see comments that are racist, sexist, or just generally offensive, and you don't want to read them, scroll past.  It seems that I find myself surrounded by people who are trying to create a barrier through which nothing offensive or harmful reaches them.   I don't agree with many of the posts read here, but I wouldn't report any of them as inappropriate.  To those who would, try being a grown up for a change.  Not everyone sees the world the way you do. 

Sat, 05/11/2013 - 18:41 | Link to Comment MiltonFriedmans...
MiltonFriedmansNightmare's picture

Maybe someone/s just handed the Tyler's a National Security Letter and gagged them?

Sun, 05/12/2013 - 15:48 | Link to Comment thisandthat
thisandthat's picture

ZH servers are located in Switzerland.

Thu, 05/16/2013 - 11:24 | Link to Comment BigJim
BigJim's picture

The servers might be. I doubt the Tylers are.

Sat, 05/11/2013 - 19:37 | Link to Comment thisandthat
thisandthat's picture

"The rushing stream is called violent, but the river bed, that constricts it, no one calls violent."

- "On violence", Bertolt Brecht.

The best response to this would be to just flood ZH with complaints against anything that could hypothetically be deemed ever so slightly offensive to anyone; for instance, it's fair game, here, to bash socialists, communists, central planners, government, politicians, public servants, police, bankers, islamists, fascists, europeans, americans, keynesians, sheeple, etc., etc. - you name it... and that's as much discriminatory as anything else (aka anti-"semitism"), so maybe if each time someone bashes any of those affiliations, they get a complaint, they'll get it; after all, first they came for the communists...

Sat, 05/11/2013 - 15:20 | Link to Comment de3de8
de3de8's picture

I just want some more good jokes.

Sat, 05/11/2013 - 13:12 | Link to Comment DanDaley
DanDaley's picture

Kum-bay-ya club?

Sat, 05/11/2013 - 19:50 | Link to Comment thisandthat
thisandthat's picture

Limbo dancing club (how low can you go?)...

Sat, 05/11/2013 - 12:11 | Link to Comment Uncle Remus
Uncle Remus's picture

Sounds like some politically correct, suck-up horseshit to me.

Sat, 05/11/2013 - 17:47 | Link to Comment Row Well Number 41
Row Well Number 41's picture

Self censorship is the best cencorship of all.

The Tylers own this site, and the truth is there is no freedom on a privately owned site.  That said, I think it interesting that in a article that has clearly been taken over by this the Tylers haven't said boo.  Truly this change should have been posted in it's own artical for debate.  It fundementally alters the nature of the site.  Are we screening articles now so as not offend advertisers or investors?

This fight club may be going soft, and I am saddened by it, but there are others, or they can be created by others.

#41

Sat, 05/11/2013 - 14:41 | Link to Comment fuu
fuu's picture

This is going to be like dual mandate vs frank-dodd again?

Sun, 05/12/2013 - 04:16 | Link to Comment trembo slice
trembo slice's picture

@ Rory, this is the perfect comment.  We can only hope.

Sat, 05/11/2013 - 14:07 | Link to Comment SubjectivObject
SubjectivObject's picture

"How to report offensive comments ..."   BWAHahahah.  Why make it "official", as obviously, someoffendedbody was already duly reporting.  Redundancy commeth before a fall.

 

"Notice on racial discrimination ..."  Banksters are 95% white caucasoid guys, and we, supposedly, attack them day in and day out, what's up with that hypocrisy?

Sat, 05/11/2013 - 14:19 | Link to Comment TheMeatTrapper
TheMeatTrapper's picture

"Notice on racial discrimination ..."  Banksters are 95% white caucasoid guys, and we, supposedly, attack them day in and day out, what's up with that hypocrisy?

Good point. I shall report every post that bashes white central bankers. If one class is protected, then all should be protected - including banksters. 

Sat, 05/11/2013 - 18:46 | Link to Comment MiltonFriedmans...
MiltonFriedmansNightmare's picture

And what about all the offensive language that permeates the site? Are motherfucker's a protected species now, or are they still fair game?

Sat, 05/11/2013 - 23:40 | Link to Comment thisandthat
thisandthat's picture

At the same time, I can't vote you, because the commenting system is still as broken as ever...

Sat, 05/11/2013 - 14:49 | Link to Comment caconhma
caconhma's picture

If ZeroHedge starts any censorship under any disguise, they are goon since they will have no chance to compete for visitors by selling the same BS and lies as the Zionist-controlled mainstream media.

ZeroHedge visitors contribute 95% of the site value. The ZeroHedge editorials for the most parts are quite marginal but are quite provocative starting very interesting and productive discussions.

 

Sat, 05/11/2013 - 18:48 | Link to Comment MiltonFriedmans...
MiltonFriedmansNightmare's picture

95% of ZH editorials are marginal, caconhma, and btw, that comment was racist.

Sat, 05/11/2013 - 20:15 | Link to Comment Jorgen
Jorgen's picture

Is ZH to follow the steps of HuffPost and needs to "sanitize" its content before the change of ownership happens?

http://www.worthofweb.com/website-value/zerohedge.com

(Hopefully not)

Sun, 05/12/2013 - 08:37 | Link to Comment i-dog
i-dog's picture

Wow! ... Alex Jones' infowars.com is given a value of $592 million on that site. ZH 'only' $76 million, yet their Alexa traffic figures are in the same ballpark (ZH was ahead until a change of Tylers back in Nov 2011).

Sat, 05/11/2013 - 15:26 | Link to Comment Mr. Magniloquent
Mr. Magniloquent's picture

Alas! Censorship, the Mailed Fist of Taste, descends apon Zerohedge. Perhaps David Hume would appreciate the aesthetic of this jewel?

Name that which is black and lanquishes atop a staircase.

"A cripple in a house fire."

Sat, 05/11/2013 - 16:30 | Link to Comment Kirk2NCC1701
Kirk2NCC1701's picture

The abusive & monotonous lines add(ed) little or no value to the Fight Club. The Neanderthals-by-choice need to Up their game, or be called out for what they are: Street Brawlers.

ZH gains credibility and revenue from people who can debate (fight with wit & brains), because they are more likely to elevate the game and widen appeal to people with DI (Disposable Income). Street Brawlers do neither.

Good move, Tylers! I for one, was teetering on the edge of leaving.

No eye gouging or kicks to the groin!

Let the skilled Fighters fight!

Sat, 05/11/2013 - 17:59 | Link to Comment Row Well Number 41
Row Well Number 41's picture

Here for 12 weeks and your ready to leave because fight club hurts your feeling...   Why did you come here in the first place if you didn't want HONESTY.  Honesty requires that you be able to offend people, because in this world the truth is an offense.

If it hurts your feeling so much go home and watch MSM.

#41

Sun, 05/12/2013 - 01:45 | Link to Comment francis_sawyer
francis_sawyer's picture

He came for the bitcoin articles... Now that that pan has flashed, the pony has no more tricks...

Sat, 05/11/2013 - 18:46 | Link to Comment 11b40
11b40's picture

And, of course, you consider yourself one of the skilled fighters.
Don't let the door hit you on the ass on your way out.

Racism may be tiresome, but it is a part of life, and likely to worsen with economic decline. Is it wise to sweep it under the carpet, or should it be exposed to sunlight?

Let's call a spade a spade. This is censorship. This is the site owner's right, but it is still censorship.

Sat, 05/11/2013 - 18:50 | Link to Comment MiltonFriedmans...
MiltonFriedmansNightmare's picture

What a loss that would have been, kirk.

Sat, 05/11/2013 - 23:43 | Link to Comment thisandthat
thisandthat's picture

 

people with DI (Disposable Income)

LOL - you mean people with Disposable Integrity. And if they were ever intended on targeting said fat bastards, they've been doing a heck of a terrible job at it.

edit: Discardable...

Sat, 05/11/2013 - 17:25 | Link to Comment Esso
Esso's picture

@francis_sawyer

My, that's a disturbing development. Project Mayhem has morphed into Project Enforced Conformity.

Sun, 05/12/2013 - 08:31 | Link to Comment awakening
awakening's picture

The path to hell is paved with good intentions. Right there are the first two pavers for this path.

Sat, 05/11/2013 - 11:40 | Link to Comment Kreditanstalt
Kreditanstalt's picture

This is what happens in a "democracy" when the vast majority of the population with no savings or jobs and probably negative net worth(and who, having next-to-no assets themselves likely support this because it will punish the "evil tax evaders") control the government gun.  This is just another manifestation of the "evil rich"/"tax-the-rich"/economic envy mania which will inevitably lead everywhere to socialism....

Sound like some other country?

Sat, 05/11/2013 - 11:58 | Link to Comment allocater
allocater's picture

And that is how it is supposed to work. The oligarchy has to earn it's peace. They earn this by ensuring that the majority of the population is fed and entertained. If they fail to achieve this state, they will be punished by a communist revolution.

Sat, 05/11/2013 - 23:46 | Link to Comment thisandthat
thisandthat's picture

I resent you comnists bashing and will be reporting you to the Central Scrutinizer...

Sat, 05/11/2013 - 11:37 | Link to Comment Bindar Dundat
Bindar Dundat's picture

The Scotia bank in Ottawa has been out of gold for two weeks.  Anyone else having trouble buying physical?

Sat, 05/11/2013 - 11:37 | Link to Comment otto skorzeny
otto skorzeny's picture

No.

Sat, 05/11/2013 - 11:39 | Link to Comment Doña K
Doña K's picture

I just bought Krugerrands the dealer has many. Commission was on the high side.

We were introduced to a couple Friday night during a dinner gathering. The gentleman works in the embassy of a European country. The discussion eventually drifted towards the challenges of investing in this environment. Neither of them was actually switched-on to what is happening, but the husband talked about his several years that he worked in his country’s embassy in London where he became good friends with a notable bank CEO. Apparently, banking CEO’s in the UK are not allowed to participate in certain investments. The CEO however, used his friend’s name to do the investing, trusting him based on his impeccable persona. He also made some money as he piggy-backed some of his own money in these investments.

Fast forward a few years and about three weeks ago, his CEO friend advised him to convert all his investable assets to gold. He however, told me that he does not really have any considerable investable cash to buy gold as he just bought a summer home in a med island at a fantastic price.

I asked him that next time he talks to his CEO friend to ask the simple question of what % of one’s investable assets should be converted to gold even though he told him ALL, which goes against the proverbial of not putting all eggs in one basket. 

The answer to this question could be very revealing of what the bankers themselves think about today’s situation.

Will follow up on this story and post the answer here.

 

Sat, 05/11/2013 - 11:43 | Link to Comment otto skorzeny
otto skorzeny's picture

Wait for a nice-ball crushing stock plunge where commodities are dragged down, gold will sold to cover margin calls, be nimble with your cash and buy at a discount.

Sat, 05/11/2013 - 13:01 | Link to Comment Kreditanstalt
Kreditanstalt's picture

...IF there's any real gold left...

Sun, 05/12/2013 - 03:03 | Link to Comment Parrotile
Parrotile's picture

Maybe there'll be plenty of the gilt-wrapped tungsten variety:

"Chewy on the outside, with a nice crunchy inside: Twice the Pleasure!" - a bit like Chocolate Chip Cookies http://bakerbettie.com/2012/02/11/the-science-of-the-chocolate-chip-cookie/

Sun, 05/12/2013 - 11:29 | Link to Comment Not My Real Name
Not My Real Name's picture

+1

I am certain a lot of people trying to time the bottom for Au will end up with an unwanted fistful of FRNs and zero Au when the paper price craters.

Sat, 05/11/2013 - 14:51 | Link to Comment smlbizman
smlbizman's picture

im still deciding on whether to be offended or discriminated against or scared...by what i read....

Sat, 05/11/2013 - 14:32 | Link to Comment Miss Expectations
Miss Expectations's picture

ALL, which goes against the proverbial of not putting all eggs in one basket. 

Small print exception for golden eggs?

Sat, 05/11/2013 - 11:43 | Link to Comment Crisismode
Crisismode's picture

 

 

Gold coins are readily available at any number of online sites.

Silver . . . . ummm, not so much.

 

Sat, 05/11/2013 - 14:28 | Link to Comment WmMcK
WmMcK's picture

+1 - For update.  Nice user name, bet you get that a lot.

Sat, 05/11/2013 - 14:38 | Link to Comment PontifexMaximus
PontifexMaximus's picture

No, Zürich and Geneva plenty of them.

Sat, 05/11/2013 - 17:42 | Link to Comment Canuckistan Al
Canuckistan Al's picture

Silver Gold Bull, search it.

Sat, 05/11/2013 - 11:40 | Link to Comment otto skorzeny
otto skorzeny's picture

Wow-I can't see the US engaging in this type of "voluntary" t-bill buying w/ citizens' 401Ks at all/ sarc.

Sat, 05/11/2013 - 11:48 | Link to Comment shovelhead
shovelhead's picture

Argentines better hope Kirchner doesn't discover that diappearing people is a lot easier than diappearing red ink.

Sat, 05/11/2013 - 12:55 | Link to Comment WAMO556
WAMO556's picture

It's all ready happening here:

Donald Scott
Huguette Clark
Bending Novak

There's ALOT MOAR!!!

Sat, 05/11/2013 - 11:53 | Link to Comment Gromit
Gromit's picture

The title of this article is misleading for me.....if Argentina had the desire and resources to enforce its tax and currency laws it would be already doing so.

A better take for me is that the government is sufficiently desperate to bring dollars to productive uses that it is willing to  give full amnesty for tax cheats - and to give them 4% interest on dollars invested with the Argentina Central Bank.

An equivalent concept here would allow corporations to bring in cash from abroad without any obligation to pay US taxes.

There was another proposed bill on tuesday encouraging dollar deposits to stimulate the real estate industry - which has recently suffered from additional government scrutiny of the provenance of purchase monies.

This morning's editorial from the Buenos Aires Herald (English)

http://www.buenosairesherald.com/article/130756/another-brick-in-the-wall

Sat, 05/11/2013 - 13:18 | Link to Comment rsdude
rsdude's picture

I agree Gromit, the title is misleading, it misses key points of context (both political and economical) and what's worse, parallels to the USofA are missed. Comments capture more than the article. (TylerD finally picked up on my suggestion that this topic is very relevant to usOFa, especially when we get to this point in our argentinization...) So, my question would be as QE putters out what will the FIRE crew choose to do? 

Sat, 05/11/2013 - 13:39 | Link to Comment Gromit
Gromit's picture

Yes exactly.

Argentina may be following the wrong path, not for the first time, but I'm very surprised by how much hate it generates here - mirroring its treatment by the World Press.

Is it just a case of piling on?

Doesn't Argentina deserve some credit for standing up to the Man?

Sat, 05/11/2013 - 19:46 | Link to Comment machineh
machineh's picture

No.

Not by cheating its own people.

Gideon Gono is no hero either.

Sat, 05/11/2013 - 22:19 | Link to Comment thisandthat
thisandthat's picture

It's topical here to bash anything and anyone eventually portrayable as socialist, right or wrong - and no discrimination ban against that!

Sun, 05/12/2013 - 04:28 | Link to Comment samcontrol
samcontrol's picture

desperate , yes, but ain't gonna happen.

Sun, 05/12/2013 - 08:45 | Link to Comment samcontrol
samcontrol's picture

.

Sat, 05/11/2013 - 11:56 | Link to Comment ThisIsBob
ThisIsBob's picture

Buy a few, short a few.  Done.

Sat, 05/11/2013 - 12:01 | Link to Comment adr
adr's picture

Well in the USA we are required by law to pay taxes to fund Obamacare, EBT cards, and other programs set to hit 100% of tax reciepts before paying dollar one towards anything Constitutionaly  mandated.

At least the Argentinians have a choice. The government is making a threat but they don't know who actually has the money, or how much.

The IRS knows exactly how much I make and every deposit into a bank is reported and collected by the NSA.

I think I'd rather be an Argentine millionaire than a working stiff in America.

Sat, 05/11/2013 - 12:05 | Link to Comment nasa
nasa's picture

In the USSA you can just Corzine any amount necessary to keep the circuses running. 

Sat, 05/11/2013 - 13:05 | Link to Comment sethstorm
sethstorm's picture

In the USA, they just put a hyperpower's worth of pressure on the country to give up the information.  That's how Switzerland has largely lost its reputation for financial privacy when it comes to taxes.  That's also why it's quite hard for a US citizen(specifically) to open a bank account in some parts of the world.

 

 

Sat, 05/11/2013 - 12:18 | Link to Comment thewayitis
thewayitis's picture

 

 

  Run for the GOLD bitchez ..........

 

 

Sat, 05/11/2013 - 12:20 | Link to Comment Dr. Engali
Dr. Engali's picture

I get so sick of hearing about the evil "Tax evadors". When are
people going to start looking at those parasites called government employees who live the good life and continue to demand more while the masses eat worms.

Sat, 05/11/2013 - 12:37 | Link to Comment Uncle Remus
Uncle Remus's picture

I'm thinking going after the tax inventors is the shorter path to nirvana and karmic bliss.

Sat, 05/11/2013 - 21:13 | Link to Comment SubjectivObject
SubjectivObject's picture

Good new meme there, "tax inventors".

Sun, 05/12/2013 - 03:12 | Link to Comment Parrotile
Parrotile's picture

I believe the original version of Income Tax dates back to the 1800's and was introduced by Pitt the Younger in order to finance the Napoleoninc Wars. Originally intended as a "temporary tax", but once there's a new "revenue stream" it takes a lot of People Power to shut this off . . . . . .

Sat, 05/11/2013 - 13:41 | Link to Comment topspinslicer
topspinslicer's picture

that is not the spin we hear from cnbs so good doctor heal thy self!!

Sun, 05/12/2013 - 08:20 | Link to Comment samcontrol
samcontrol's picture

they can call me evil all they want i will continue to evade.

Sat, 05/11/2013 - 12:55 | Link to Comment Mr. Magoo
Mr. Magoo's picture

"Of course, the surge in the stock index is nothing more than a reflection of the ongoing collapse in the economy"

Looks like The USSA parallels the Merval stock index

Sat, 05/11/2013 - 13:27 | Link to Comment sethstorm
sethstorm's picture
Good luck with that - the only thing Argentina will succeed is in forcing tax evaders to hide their money even deeper into the global shadow economy.

Now what happens if they end up receiving assistance from other countries with the know-how and assets to locate that?  On the other hand, what does Argentina have that is worth said assistance?

 

Sat, 05/11/2013 - 13:37 | Link to Comment topspinslicer
topspinslicer's picture

Like owe-bomba care this is just a tax and their supreme court too will rule in favor of its implementation. Everything is just so taxing.

Sat, 05/11/2013 - 13:39 | Link to Comment topspinslicer
topspinslicer's picture

This may give the owe-bomba new ideas for vulture capital raising for his hedge fund investment ideas -- there is a bull market for green energy somewhere out in the universe and the owe-bomba is determined to find it!

Sat, 05/11/2013 - 13:43 | Link to Comment topspinslicer
topspinslicer's picture

do they have cable tv and internet in their jails?

Sat, 05/11/2013 - 13:49 | Link to Comment TNTARG
TNTARG's picture

A few precisions:

"weaken the private media"

Private media: Mostly MSM, owned and/or controlled by banksters corporations.

Please, READ the law passed by Congress and stopped by MSM Clarin (controlled by banksters), now for the Supreme Court to decide, Law 26.522, before comment on the alleged "gvt to weaken private media".

Inform yourselves and exercise critical thinking.

http://www.euroalter.com/2010/media-and-power-in-argentina-interview-wit...

Buenos Aires Herald is not a MSM but now belongs to AmFin, who also owns Ambito Financiero and other media as La Capital of Rosario City and nobody knows WHO is behind Vignatti. We can only guess.

Speaking of YPF's growth, we made it very clear a year ago when we reported on the latest "banana republic" nationalization of formerly efficient and private assets

Misleading comment. YPF WAS a very efficient company BEFORE it was privatized in 1993 and bought by the Spanish firm Repsol in 1999. From 1993 to 2012 YPF was nearly destroyed.

Quote:
Profitable state companies were sold for a pittance, and suffered massive downsizing and asset-stripping. When Argentina’s railways were privatised, for instance, much of the rolling stock and lines were simply decommissioned, leaving the provinces economically isolated and the population forced to move to the cities. The reserves of the massive state oil company, YPF, were sold on 25-year contracts for a price equivalent to nine months of production. Towns built to house YPF workers were abandoned, the new owners leaving behind vast deserts of inert machinery. Gas del Estado was sold for 10% of its actual value to Repsol, who polluted the local water supply so that local people now extracted pure gasoline from their water pumps.

To understand how Argentines were beginning to feel, we might imagine the NHS being sold at 10% of its value to a fraudulent conglomerate which then ran it into the ground and was compensated for its lack of productivity. While politicians and business people alike profited and allowed privatised industries to under-perform, hundreds of thousands of workers were laid off. In northern Argentina, per capita income was on a par with Bangladesh by the end of the 1990s.

http://awopbopaloobop.blogspot.com.ar/2010/11/argentina-collapse.html

So "formerly efficient and private assets" is a false statement. At the time it was nationalized (2012), YPF WASN'T efficient. Private assets: Little. Most of it was gone during the stage of YPF handled by "efficient" private owners. Who had stolen most of its assets and profits.

Please, before "minusing" this comment check the data.

Plus, to be accurate, CEDIN aren't just to by YPF shares but many other assets.

Also, do you think "the èlite", "the ruling class" or whatever you want to call it, is fucking just you? We're all targets. We'll see what happens.

Finally, "banana republic" label: you should re-evaluate the concept. Or else... How many "banana republics" we have around the world, including the US?

See this: "Confessions of an economic hitman" and "apologies of an economic hitman".

http://www.youtube.com/watch?v=RVsB07CcSNw

http://www.youtube.com/watch?v=Ui0NL3bb21o

Then come to us again with your imprinted brainwashed shit about "banana republics".

In this country there's freedom of speech.

In this country the only police force who is turning against citizens is the "Metropolitan Police" of corporate Macri, head of Buenos Aires City district.

In this country dictators mother fuckers are in jail or under trial.

We're making efforts to resist totalitarian global shit down here. What about you?

 

 

 

 

 

 

Sat, 05/11/2013 - 14:04 | Link to Comment TNTARG
TNTARG's picture

Last but not least:

IT ISN'T COMPULSIVE as your taxations, your Boston siege, european taxation, plundering people for bailing out big banksters, TARP and all the huge ammount of shit people of the US and UE are taking.

CEDINs are OPTIONAL.

I'm amaze how well you accept infinite derivatives with no collateral at all and criticize in such a hard manner bonds backed up with strong collateral (real assets) as argentinean CEDINs.

 

Sat, 05/11/2013 - 19:53 | Link to Comment machineh
machineh's picture

'Buenos Aires Herald is not a MSM but now belongs to AmFin.'

SO WHAT? Who are you to decide who can publish, and who can't?

Your dictator is now trying to expropriate a controlling interest in the newsprint producer Papeles Prensa, so she can simply shut down the opposition press that criticizes her Cruella Deville horror-show make-up.

Go ahead -- keep apologizing for fascism. Actions speak louder than words. We aren't fooled by your Peronist lies.

Sat, 05/11/2013 - 23:12 | Link to Comment TNTARG
TNTARG's picture

Papel Prensa was illegaly taken by Clarin, La Nación, La Prensa during the last dictatorship. How they did it? They made a deal with the Junta (Videla, Massera. Agosti) by kidnapping the owners, killing one of them, torturing her wife (torturing a woman) and making them sign the papers. THEY DIDN'T EVEN PAY FOR IT. In exchange those media would support the Junta, as they did.

That's the "free press" you're talking about, you fucking moron. Truth is hard to face, isn't it?

Justice must and will be done, on time.

As for Cristina, we're backing her up on this also. She has balls, indeed.

P.S.: You wouldn't find fascism down here these days. Fascism has spread on the northern hemisphere, where it was born. Trust me: My father was a little child during Mussolini's gvt. One of my uncles ended up in a Lager. All of them almost starved. I have double citizenship, also italian.

We're living in freedom, hope for long. It has been hard to achieve, against all that US "helping" for democracy. It isn't us needing to be liberated. 

Sun, 05/12/2013 - 01:35 | Link to Comment Curiously_Crazy
Curiously_Crazy's picture

Thanks for your last three posts. Informative and much appreciated.

Cheers.

Sun, 05/12/2013 - 08:16 | Link to Comment samcontrol
samcontrol's picture

shame he is full of shit.

Sun, 05/12/2013 - 10:34 | Link to Comment TNTARG
TNTARG's picture

She.

Do NOT follow this link or you will be banned from the site!