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Argentine Banking System Archives Destroyed By Deadly Fire

Tyler Durden's picture




 

While we are sure it is a very sad coincidence, on the day when Argentina decrees limits on the FX positions banks can hold and the Argentine Central Bank's reserves accounting is questioned publically, a massive fire - killing 9 people - has destroyed a warehouse archiving banking system documents. As The Washington Post reports, the fire at the Iron Mountain warehouse (which purportedly had multiple protections against fire, including advanced systems that can detect and quench flames without damaging important documents) took hours to control and the sprawling building appeared to be ruined. The cause of the fire wasn’t immediately clear - though we suggest smelling Fernandez' hands...

 

 

We noted yesterday that there are major questions over Argentina's reserve honesty...

While first print is preliminary and subject to revision, the size of recent discrepancies have no precedent. This suggest that the government may be attempting to manage expectations by temporarily fudging the "estimate " of reserve numbers (first print) while not compromising "actual" final reported numbers. If this is so, it is a dangerous game to play and one likely to back-fire.

 

During a balance of payments crisis - as Argentina is undergoing - such manipulation of official statistics (and one so critical for market sentiment) is detrimental to the needed confidence building around the transition in the FX regime.

And today the government decrees limits on FX holdings for the banks...

Argentina’s central bank published resolution late yday on website limiting fx position for banks to 30% of assets.

 

Banks will have to limit fx futures contracts to 10% of assets: resolution

 

Banks must comply with resolution by April 30

And then this happens...

Via WaPo,

Nine first-responders were killed, seven others injured and two were missing as they battled a fire of unknown origin that destroyed an archive of bank documents in Argentina’s capital on Wednesday.

 

The fire at the Iron Mountain warehouse took hours to control...

 

The destroyed archives included documents stored for Argentina’s banking industry, said Buenos Aires security minister Guillermo Montenegro.

 

The cause of the fire wasn’t immediately clear.

 

Boston-based Iron Mountain manages, stores and protects information for more than 156,000 companies and organizations in 36 countries. Its Argentina subsidiary advertises that its facilities have multiple protections against fire, including advanced systems that can detect and quench flames without damaging important documents.

 

...

 

“There are cameras in the area, and these videos will be added to the judicial investigation, to clear up the motive of the fire and collapse,” Montenegro told the Diarios y Noticias agency.

 

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Wed, 02/05/2014 - 22:14 | 4406554 Spumoni
Spumoni's picture

Doctor, doctor. Its just that ZH'ers always carry their gold with them to keep it safe! THAT's why we lose so much in boating accidents - also because we are certain that a boat is the only genuine way to disappear when TSHTF. I'm sure you know that!

Thu, 02/06/2014 - 00:11 | 4406836 Kirk2NCC1701
Kirk2NCC1701's picture

Aye, laddie. And a lot if these boating accidents seem to happen on Golden Pond. -Scotty.

Wed, 02/05/2014 - 15:00 | 4404734 SilverIsKing
SilverIsKing's picture

“There are cameras in the area, and these videos will be added to the judicial investigation, to clear up the motive of the fire and collapse."

 

Sure there are.

Wed, 02/05/2014 - 15:05 | 4404778 akarc
akarc's picture

yeah like the ones in my local convienence store. With the plug hanging down in plain site. whoops

Wed, 02/05/2014 - 15:34 | 4404916 Vagabond
Vagabond's picture

Just like the cameras proved the brothers Tsarnev were responsible for the Boston bombing.

Wed, 02/05/2014 - 16:17 | 4405174 DollarMenu
DollarMenu's picture

If the fire had a motive, I think it would be to consume all available fuel.

It's like a banker around other people's money.

 

Wed, 02/05/2014 - 22:14 | 4406555 kchrisc
kchrisc's picture

Not if the FBI get to them first.

Wed, 02/05/2014 - 15:00 | 4404735 jovius
jovius's picture

We used to use Iron Mountain for storage and they would pride themselves on their fire protections.  I am raising a quizzical eyebrow.

 

Wed, 02/05/2014 - 15:07 | 4404797 LFMayor
LFMayor's picture

Apparently the fire protection measures are different at the their 3rd world fly infested shithole branches. 

After 2 five gallon buckets it was NO TIENEN NADA MAS AGUA SENIOR!

Wed, 02/05/2014 - 15:17 | 4404838 walküre
walküre's picture

Argentine is NOT a 3rd world fly infested shithole. Buenos Aires is a beautiful world class city. The Dollar gringos raped that place every which way and twice on Sunday. I just hope they bought lots of bridges to nowhere.

Wed, 02/05/2014 - 15:36 | 4404930 LFMayor
LFMayor's picture

As ever, it's those pinche CIA gringos to blame!  

I'm gonna do a compare and contrast for you.  When your country has section 8 housing and the denizens have 46" plasmas on the wall, you're a first world country, faults non withstanding.

When you're building fucking barrios out of boxes and pallets, with open sewers, and that fat-ass santa claus looking motherfucker is dandling malnourished pot belly having miserable brown kids on his knee there,  wiping the flies away from their crying eyes while he pleads for more alms FROM OTHER COUNTRIES you're officially a 3rd world, fly infested shithole, faults not withstanding.

i don't give a fuck what that bitch thief Kirchener's neighborhood looks like.  I'm sure Mugabe and Kim Il-rumplestiltskin have running water and nice flower gardens too.  They're in 3rd world fly infested shithole countries, too.

Wed, 02/05/2014 - 15:37 | 4404922 AurorusBorealus
AurorusBorealus's picture

Third-world shithole... just like London in 2006 (where an Iron Mountain facility holding bank records burned to the ground) and New Jersey in 1997 (where an Iron Mountain facility holding bank records burned to the ground).  Be careful who you blame for this... it could easily have been JPMorgan´s people, since the New York financial people are clearly out to "get" Argentina.  I don´t think Kirschner or any Argentine is a suspect in the New Jersey and London bank records fires...

Wed, 02/05/2014 - 15:52 | 4405016 Urban Redneck
Urban Redneck's picture

London was a Third World shithole (at least in 2006) they let shit flow down Sloane from Knightsbridge during the Danish Embassy protests (normally they're more successful and refined in their oppression of the masses).

And it's hard to really claim that Gov. Crispy Kreme sits atop anything other than a giant shit hole (especially since his ass reaches from one side of the state to the other).

Perhaps if they banished JP Morgan from all these locales the lives of the locals would improve...

Wed, 02/05/2014 - 16:03 | 4405102 SgtShaftoe
SgtShaftoe's picture

Buenos Aires is far from a third world shithole.  It's one of my favorite cities for spending a day in a cafe.  The government is corrupt as fuck, but a little more open and straightforward than in the USA.  Everyone at least knows it's corrupt and doesn't deny it (unless they're government dipshits), anyone can bribe almost anyone else to expedite or ensure good service. 

Wed, 02/05/2014 - 22:27 | 4406587 kchrisc
kchrisc's picture

Actually three separate fires in NJ in 1997:

http://www.nytimes.com/1997/03/21/nyregion/warehouse-fire-and-mystery-sm...

And here is the 2006 London fire:

http://news.bbc.co.uk/2/hi/uk_news/england/london/5175568.stm

At a minimum, why would anyone, except the Warren Commission, 9/11 commission, Waco Investigation committee and Whitewater investigating committee, keep storing documents with these people?!

Wed, 02/05/2014 - 22:15 | 4406557 Spumoni
Spumoni's picture

Truth hurts, downbaggers.

Thu, 02/06/2014 - 00:42 | 4406901 Tall Tom
Tall Tom's picture

"No tenemos más agua señor" is the proper translation.

Wed, 02/05/2014 - 15:13 | 4404810 Not Too Important
Not Too Important's picture

The best in the business. This will make every security manager think twice about their next contract renewal with Iron Mountain.

On the other hand, Mercedes sales went up after one blew up, so maybe it just doesn't matter anymore.

Maybe IM will change their price list to reflect the cost of 'record deletion by fire'. Priced in, bitchez!

Wed, 02/05/2014 - 15:51 | 4404986 slightlyskeptical
slightlyskeptical's picture

No. They will book a profit on the insurance payoff sending their stock soaring and then use the proceeds to build another shiny "fireproof" facility.

And the bankers will sleep a bit better tonight.

And Uncle Warren is happy because after this payout he has another excuse to raise rates.

Wed, 02/05/2014 - 15:14 | 4404820 i_call_you_my_base
i_call_you_my_base's picture

The reason they exist is so that this doesn't happen.

Wed, 02/05/2014 - 15:29 | 4404890 trader1
trader1's picture

and yet IRM is mainly green today....

wouldn't this be time go short IRM and long ADP?

 

Wed, 02/05/2014 - 15:33 | 4404902 Spanky
Spanky's picture

+1

For... 

...raising a quizzical eyebrow. -- jovius

But, judging from the intensity of the fire, we simply don't understand what fire protection really means...

Wed, 02/05/2014 - 15:39 | 4404946 Kirk2NCC1701
Kirk2NCC1701's picture

IRONY Mountain.

Wed, 02/05/2014 - 16:22 | 4405196 DollarMenu
DollarMenu's picture

From the Iron Mountain website:

We're Iron Mountain

Iron Mountain is a storage and information management company, assisting more than 156,000 organizations in 36 countries on five continents with storing, protecting and managing their information.

Publicly traded under NYSE symbol IRM, Iron Mountain is an S&P 500 company, a member of the FORTUNE 1000 (currently ranked: 712), and a member of FTSE4Good index. Organizations in every major industry and of all sizes—including more than 94% of the Fortune 1000—rely on Iron Mountain to store and manage their information.

We’re honored that our customers have put their trust with us. We safely store some of the world’s most valuable historical artifacts, cultural treasures, business documents and medical records. To properly protect and render this information, Iron Mountain employs almost 17,000 professionals and boasts an unrivaled infrastructure that includes more than 1,000 facilities and 3,600 vehicles.

Altogether, our experience, knowledge and reputation for service have combined to make us the world’s leading provider of:

  • Records management
  • Data Management Solutions
  • Information destruction

- See more at: http://www.ironmountain.com/Company/About-Us.aspx#sthash.Vcra5P7e.dpuf

 

Could I guess the Argentine event was part of "Information Destruction"?

Wed, 02/05/2014 - 23:17 | 4406732 Next to Arch Stanton
Next to Arch Stanton's picture

"Assisting more than 156,000 organizations in 36 countries"....."Organizations in every major industry and of all sized - rely on Iron Mountain to store and manage their information"

Must be an extremely trustworthy outfit.  No temptations there. 

Wed, 02/05/2014 - 18:26 | 4405762 waterhorse
waterhorse's picture

So did we, but fire isn't the only worry.  They "lost" quite a few boxes of our docs.  They found them a month later.  That's when I changed vendors.

Wed, 02/05/2014 - 14:59 | 4404737 williambanzai7
williambanzai7's picture

These things happen...

Wed, 02/05/2014 - 15:03 | 4404755 Ignatius
Ignatius's picture

Cancel ALL the debts... happens.

Wed, 02/05/2014 - 15:06 | 4404774 Handful of Dust
Handful of Dust's picture

oi vey!

Wed, 02/05/2014 - 15:14 | 4404818 aerojet
aerojet's picture

Nothing in the refrigerator except condiments, so embarassing...

Thu, 02/06/2014 - 06:45 | 4405380 HardlyZero
HardlyZero's picture

BareBanked at the Iron Mountain "fire sale"....Gold probably arriving at Cuba tonight.

They stole it all then burn't up all the evidence of the theft...no more truth from them.

Wed, 02/05/2014 - 18:20 | 4405743 waterhorse
waterhorse's picture

yeah, but why can't they happen to banksters instead of first responders?

Wed, 02/05/2014 - 22:18 | 4406563 Spumoni
Spumoni's picture

Its hard to explain all the silver bars laying in the vault where their customers' x-ray films used to be... ("Oh they were digitized...")

Wed, 02/05/2014 - 15:01 | 4404742 BTCTalks
BTCTalks's picture

Firesale?

Wed, 02/05/2014 - 15:03 | 4404766 BandGap
BandGap's picture

They state that it might back-fire. Bad puns everywhere.

Forgive me for thinking like this is 2014, but wouldn't you think there would be electronic backups for these documents? The only reason to keep these around is probably regulatory in nature, but for proof or review of payments/contracts these would ahve to be in electronic form.

Right?

Wed, 02/05/2014 - 15:08 | 4404800 fuu
fuu's picture

Were the records servers in the building too? 

Wed, 02/05/2014 - 15:15 | 4404823 aerojet
aerojet's picture

Nope, but the server fell down an elevator shaft onto some bullets.

Wed, 02/05/2014 - 15:36 | 4404918 Wile-E-Coyote
Wile-E-Coyote's picture

The NSA will have a back up!!

Wed, 02/05/2014 - 15:15 | 4404837 i_call_you_my_base
i_call_you_my_base's picture

Iron Mountain is also for holding digital data, tape-drive back-ups etc. Anyway, one could attack both sides, both this warehouse and current live transactions.

Wed, 02/05/2014 - 22:20 | 4406566 Spumoni
Spumoni's picture

Of course its digitized. But you have to keep the boxes in a warehouse to justify the rent you're charging. Who d'you think they are-Goldman or GyppeM?

Wed, 02/05/2014 - 15:00 | 4404743 Seasmoke
Seasmoke's picture

Bank is Murder.

Wed, 02/05/2014 - 15:01 | 4404745 Pairadimes
Pairadimes's picture

Apparently, those first-responders showed up a little too quickly.

Wed, 02/05/2014 - 15:18 | 4404850 blabam
blabam's picture

Like 9/11?

Wed, 02/05/2014 - 18:44 | 4405820 logicalman
logicalman's picture

That's the thing about first responers - they get there before everyone (witnesses) else.

Wed, 02/05/2014 - 15:01 | 4404746 stant
stant's picture

was it called building 7?

Wed, 02/05/2014 - 15:04 | 4404761 I Am Not a Copp...
I Am Not a Copper Top's picture

Yes, actually "Edificio Numero Siete"

Wed, 02/05/2014 - 15:08 | 4404798 rlouis
rlouis's picture

or the Alfred P. Murrah document storage building de Argentina...

Wed, 02/05/2014 - 15:14 | 4404822 I Am Not a Copp...
I Am Not a Copper Top's picture

Nice...

Wed, 02/05/2014 - 15:02 | 4404753 Seasmoke
Seasmoke's picture

I guess Rumsfeld has been vacationing in Argentina. 

Wed, 02/05/2014 - 15:03 | 4404763 Josh Randall
Josh Randall's picture

Seriously? Dead bankers, FX heads stepping down, and now the FX archive building in an economy with a tanking currency just happens to catch on fire. Wow - just WOW

Wed, 02/05/2014 - 15:09 | 4404802 Bastiat
Bastiat's picture

Don't forget the fire in the JPM vaults a couple months back.

Wed, 02/05/2014 - 15:16 | 4404844 semperfi
semperfi's picture

and the flood from Sandy

Wed, 02/05/2014 - 15:20 | 4404852 Not Too Important
Not Too Important's picture

Did the bankers have bricks in their pockets?

Wed, 02/05/2014 - 16:33 | 4405262 HardlyZero
HardlyZero's picture

62 tonnes of Argentine Gold Reserve ... bricks ?  where are the Argentine physical Gold Reserves stored ?     ooops...what Gold ?

Wed, 02/05/2014 - 15:04 | 4404771 SandiaMan
SandiaMan's picture

Not as messy as planes into towers

Wed, 02/05/2014 - 21:10 | 4406352 mt paul
mt paul's picture

wonder how much the ...

911 recycled steel was worth

Wed, 02/05/2014 - 15:08 | 4404787 whoknoz
whoknoz's picture

gives a whole new meaning to the term "boating accident"...

Wed, 02/05/2014 - 21:14 | 4406366 mt paul
mt paul's picture

+1

 

for the symely 

Wed, 02/05/2014 - 15:09 | 4404794 Smegley Wanxalot
Smegley Wanxalot's picture

Dont fry for me Argentina .....

Wed, 02/05/2014 - 15:17 | 4404839 _ConanTheLibert...
_ConanTheLibertarian_'s picture

LOL

Wed, 02/05/2014 - 15:29 | 4404894 halfawake
halfawake's picture

too soon

Wed, 02/05/2014 - 15:07 | 4404796 Puchica
Puchica's picture

Boludos these Che's...

Wed, 02/05/2014 - 15:10 | 4404805 CheapBastard
CheapBastard's picture

"Dear Creditor:

I do not understand your statement/claim of "amount due." Please send me a copy of our contract and /or loan papers and point out the provision that states your rights.

I look forward to receiving the documents.

Sincerely,

Mr Debtor/Loanee

PS: Please note new address:

Mr Loanee

2000 McMansion Towers, Penthouse

Miami, Fl"

Wed, 02/05/2014 - 15:15 | 4404826 Kirk2NCC1701
Kirk2NCC1701's picture

The Kristalnacht for removing all trace of toxic assets from the GS squid, and traceability of transferred gold bullion.

Cry for yourself, Argentina.

Wed, 02/05/2014 - 15:16 | 4404832 mattgallis
mattgallis's picture

Who keeps paper records these days???

 

Wed, 02/05/2014 - 15:36 | 4404917 Urban Redneck
Urban Redneck's picture

Bankers and Lawyers - the very people who know damn well how worthless all the dot-com, iShit, eCurrency, and QEZIRP scams foisted off the citizenry and serfs are.

Wed, 02/05/2014 - 15:17 | 4404835 semperfi
semperfi's picture

What do you mean the cause is unknown?  I just saw on CNN 2 big passenger planes fly into it, spaced about 20 minutes apart.

Wed, 02/05/2014 - 15:22 | 4404857 Not Too Important
Not Too Important's picture

"I just saw on CNN 2 big passenger planes fly into it, spaced about 20 minutes apart." Reported 5 minutes before it happened.

There, fixed it for ya.

Wed, 02/05/2014 - 15:17 | 4404849 _SILENCER
_SILENCER's picture

I wonder if 19 Saudis were behind it.

Wed, 02/05/2014 - 15:34 | 4404915 semperfi
semperfi's picture

CNN just reported it was 19 Tea Party members

Wed, 02/05/2014 - 21:17 | 4406380 mt paul
mt paul's picture

in a cave 

in Wash. D.C.

Wed, 02/05/2014 - 15:27 | 4404871 Lumberjack
Lumberjack's picture
Argentina mulls opening its banks to money launderers

http://qz.com/85576/argentina-mulls-opening-its-banks-to-money-launderers/

 

Have some dirty money you need to launder? You may want to consider Argentina as an option. Lawmakers there are considering a measure that would give amnesty to anyone who wants to pull undeclared cash out of tax havens and deposit it in Argentinian banks.

The government of President Cristina Kirchner is behind the proposal, saying the country needs to do something drastic in order to prop up its investment-starved economy—especially its stalled energy and construction sectors. The idea has a certain logic. Currency pressure in the country is so intense that the black market exchange rate is double the official rate of about 5.2 pesos per US dollar, and even the most upstanding of Argentines stash their money anywhere but banks as a hedge against inflation. Foreign reserves have fallen by nearly a quarter in the last two years to $40 billion, the lowest level since Kirchner took office. With an election coming up in October, Kirchner, her popularity already plummeting, can’t afford further devaluation.

But the proposal has wide-ranging implications, including making Argentina a magnet for global money-laundering. If passed, the amnesty would last at least three months. During that window, banks would issue tax-free energy bonds and certificates of deposit to invest in construction or real estate—without asking where the cash came from.

And there’s a lot of that illicit cash floating around Argentina, thanks to all of the organized crime, drug trafficking, illicit trading, fraud and political corruption in the region. Crime groups and cells of terrorist organizations like Hezbollah have long made the country a kind of Wild West for criminal activity. The tri-border area Argentina shares with Brazil and Paraguay is considered the largest illicit economy in the Western Hemisphere.

===============

 

Also see this:

HSBC faces new money laundering claims in Argentina

http://www.bbc.co.uk/news/business-21840052

 

Wed, 02/05/2014 - 15:36 | 4404932 cynicalskeptic
cynicalskeptic's picture

The big boys in London and NY aren't going to like having any competition......

I wonder what kind of incentives you offer drug lords.  Somehow I don't think free toasters will work.

Wed, 02/05/2014 - 16:02 | 4405085 gwar5
gwar5's picture

They'd be happy to launder Chinese and Russian Oligarch money or Iranian money. 

Wed, 02/05/2014 - 20:27 | 4406201 The_Prisoner
The_Prisoner's picture

Reminds me of the Simpson's Trillion Dollar Bill.

Wed, 02/05/2014 - 15:26 | 4404879 yogibear
yogibear's picture

Any dead banksters found in the fire?
Suddenly bankers falling off of roofs and fires.
The records are usually backed up off site. Somehow those were destroyed as well?

Dead men tell no tails.

Wed, 02/05/2014 - 15:27 | 4404889 Bastiat
Bastiat's picture

Was just wondering why they called it a "deadly" fire--did someone die?  Or is it just that anyone who talks about who was behind the fire WILL die.

Wed, 02/05/2014 - 15:53 | 4405029 slightlyskeptical
slightlyskeptical's picture

Can you read? 9 responders died in order for the bankers to cover their asses.

Wed, 02/05/2014 - 16:40 | 4405329 Bastiat
Bastiat's picture

Sorry, missed that-reading off my phone.

Wed, 02/05/2014 - 15:32 | 4404905 cynicalskeptic
cynicalskeptic's picture

'tales'.........and oh the tales that could be told.....

'tails' are the long spiked protruberancs coming from the base of bankers spines - accompanied by horns on the forehead

Wed, 02/05/2014 - 15:26 | 4404882 Bam_Man
Bam_Man's picture

"And...It's GONE!"

Wed, 02/05/2014 - 15:30 | 4404896 astoriajoe
astoriajoe's picture

Maybe that's why they don't audit our gold. Afraid someone is going to drop a cigarette and burn it all up.

Wed, 02/05/2014 - 15:37 | 4404923 John Law Lives
John Law Lives's picture

"The cause of the fire wasn’t immediately clear - though we suggest smelling Fernandez' hands..."

Wouldn't it be something if a picture of her surfaces with her holding a match and a can of WD-40...

 

Wed, 02/05/2014 - 16:35 | 4405282 HardlyZero
HardlyZero's picture

Is all the Argentine leadership in-country or in-Cuba or on their way to Cuba ?   Any Argentine Bank Holidays on schedule ?

Wed, 02/05/2014 - 15:35 | 4404924 adr
adr's picture

Is Iron Mountain publicly traded?

Oh of course it is and for some reason a Boston based company is storing documents in Argentina that could be connected to some very fraudulent deals and the secure fire proof warehouse just goes up in flames.

A nice tidbit is that Iron Mountain started as a company building vaults to store nuclear waste. If their fireproof storage facilities aren't fireproof, I wonder how radioactive proof their vaults are. Iron Mountain has also been buying up private document storage companies left and right. Probably just for this purpose. So one call to an Iron Mountain executive can destroy incriminating documents in a flash.

Wed, 02/05/2014 - 16:36 | 4405292 HardlyZero
HardlyZero's picture

Maybe they were testing their system and they failed ?    Its...gone.

Thu, 02/06/2014 - 12:54 | 4408044 FrankDrakman
FrankDrakman's picture

A nice tidbit is that Iron Mountain started as a company building vaults to store nuclear waste

Where do you get this stuff? Just pull it out of your behind? As was noted above, Iron Mountain was started by a guy growing mushrooms, and then branched into document storage. Full story in the New Yorker from last year.

Wed, 02/05/2014 - 15:37 | 4404926 ThroxxOfVron
ThroxxOfVron's picture

ALL Criminal Evidence vaporaized!

Iron Mountain Argentina = 7 World Trade Center.

Wed, 02/05/2014 - 15:37 | 4404938 cougar_w
cougar_w's picture

The real story here is that some contractor with inside connections got $million in fees (probably in actual US$) to install a fire suppression system that didn't work and probably was fatally flawed from the beginning. Probably a bunch of iron pipes and nozzles hung from the ceiling that looked important but weren't connected to anything. All the expensive control systems were either taken away later and used in another job, or were just empty cabinets from the start and never operational.

Wed, 02/05/2014 - 22:43 | 4406635 lotsoffun
lotsoffun's picture

i can buy that one.  good theory.

Wed, 02/05/2014 - 15:41 | 4404950 Hongcha
Hongcha's picture

Absolutely arson.  Those Iron Mountain storage buildings are steel-reinforced concrete and don't just spark up out of the blue.

Wed, 02/05/2014 - 15:43 | 4404964 Frank N. Beans
Frank N. Beans's picture

You have to be KIDDING me.  Do you know how hard it would be to even get a fire going inside there?  The lack of oxygen should have knocked it out, assuming a hermetically sealed room.

Wed, 02/05/2014 - 17:07 | 4405448 Bastiat
Bastiat's picture

Not so hard with a few tons of thermite.

Wed, 02/05/2014 - 15:47 | 4404983 ghostzapper
ghostzapper's picture

Well we all knew those bonds and the currency associated with them would go up in flames.  

Wed, 02/05/2014 - 15:48 | 4404987 Inthemix96
Inthemix96's picture

Rightly blatant isnt it.

As we were talking about this the other day, they think we lot are fucking stupid.  We aint.  Its falling apart in their hands my friends, and out right blatant bullshit like this only stokes the fire, no pun intended.

Tick fucking tock you cunts, your days are getting shorter as time speeds up.

Cunts.

:-)

 

Wed, 02/05/2014 - 22:17 | 4406564 ljag
ljag's picture

Mix96

Don't ever leave ......you make my day with your subtle descriptions of the situation

Wed, 02/05/2014 - 15:46 | 4404990 Yellowhoard
Yellowhoard's picture

Jewish lightning.

Wed, 02/05/2014 - 16:19 | 4405181 adr
adr's picture

Jewrish Lightning

That's where the business owner burns down his building but gets charged with arson because he's not Jewish or protected by a team of Jewish lawyers.

Wed, 02/05/2014 - 15:49 | 4404993 jughead
jughead's picture

I'll pass on smelling Fernandez's hands...I am pretty sure they still smell like fish.

Wed, 02/05/2014 - 18:46 | 4405837 logicalman
logicalman's picture

There are two things that smell like fish....

One of 'em is fish.

Wed, 02/05/2014 - 15:51 | 4405011 soopy
soopy's picture

Handy cleanup delivered by Amazon drone.

Wed, 02/05/2014 - 15:53 | 4405019 El Hosel
El Hosel's picture

Was it Building 7?

Wed, 02/05/2014 - 15:53 | 4405034 bullionbaron
bullionbaron's picture

This seems to be a regular occurence when a country gets into financial difficulty: https://twitter.com/BullionBaron/status/431153272108249088

Wed, 02/05/2014 - 15:55 | 4405050 ThroxxOfVron
ThroxxOfVron's picture

Operation Inverse Operation Mayhem!

Destroy all sequestered proof of institutionalized thefts and leave the fraudulent 'public debts' intact.

Wed, 02/05/2014 - 15:58 | 4405058 spud01
spud01's picture

The one and ONLY answer to the debt problem is to declare it null and void because of FRAUD!  It is fraud because it is mathematically impossible to repay !   It can not be repaid because the interest is never created on the loan and that is fraud !   And fraud voids all !   If we don’t void all out of thin air debt the bankers will own almost EVERYTHING !    And we will be homeless slaves !  They have a license to counterfeit !   Can I counterfeit the money to repay the loan ?  Why not ?   If we even attempt to repay a impossible debt (the national debt) all we do is show our ignorance !   The way to fix this mess is so simple a 3rd grader can figure it out !   We void the fraudulent debt!  and everyone keeps ALL the items they have so called debt on !   And then we start to use a debt free currency and / or gold and silver !  And then we will have a robust economy like never before — OR WE LET THE BANKERS STEAL EVERYTHING !
  I was in about the third grade when the news was talking about the national debt and I asked my dad who do we owe money to and who could possibly be richer than the United States?  and where did they get the money?  And then my dad took a gulp off his beer and said we owe it to our self !   I said that’s the dumbest thing I ever heard of !  that’s like me borrowing from my right pocket and setting fire to the interest and putting the rest in my left pocket !  This was about 1972 !   And yes it really is this simple  !  The bankers have a shoe in on ALL loans they make !  All they have to do is stop lending and then start foreclosing on ALL debts!-meaning they now own everything that has a debt by having a license to counterfeit !  So we 1 keep getting fleeced by continuing to pay this fraudulent scheme !  OR 2 we declare ALL out of thin air debt NULL AND VOID because of FRAUD !   And we ALL keep everything we have so called debt on!   MOST people don't get this part Every car, boat, house, machine, tool, farm,ect.  has already been paid for by the fraudulent paper!   So no one looses !   WE sure as hell cant give it to the banksters!   (let them steal it)   AND IT DOESENT MATTER IF YOU WANT TO  REDUCE THE DEBT 90% ITS STILL UNPAYABLE!  So when we void the FRAUD This will be the ultimate FRESH start for everyone !   Share this if you want THE solution to the WORLDS problems!   If not everything will continue to get worse until we have HONEST DEBT FREE MONEY /and GOLD AND SILVER !  And there is plenty of gold and silver!  just Divide the paper money (FRN) by the gold /silver and you have the value of them!  NO MATTER WHAT IT COMES TO per OZ ! Then we would be happy to work for SAY A ONE OZ. SILVER COIN A day ! Because NOW REAL MONEY will buy what  $100 did before the reset!   THINK ABOUT IT!   This is what Scripture calls the jubilee !

Wed, 02/05/2014 - 20:37 | 4406232 Johnny Cocknballs
Johnny Cocknballs's picture

good stuff, minus the scripture nonsense. 

p.s. God tells me he loves paragraphs.

Wed, 02/05/2014 - 21:37 | 4406443 delacroix
delacroix's picture

problem is, the banksters sold the debt to your pension fund and our foreign trade partners

Wed, 02/05/2014 - 16:04 | 4405065 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

Beta testing for when the Comex is ready to default.

Actually I think this has been done at least once before involving planes.....

http://www.wanttoknow.info/911/black_eagle_trust_fund

The attacks ... were intended to cover-up the clearing of $240 billion dollars in securities covertly created in September 1991 to fund a covert economic war against the Soviet Union, during which ‘unknown’ western investors bought up much of the Soviet industry, with a focus on oil and gas.

...

They came due for settlement and clearing on September 12. The federal Agency investigating these bonds – The Office of Naval Intelligence – was in the section of the Pentagon that was destroyed on 9/11.

...

The bonds sat for ten years, like a ticking time bomb. They had to be settled – or cashed in by September 12, 2001. The two firms in the U.S. most likely to be handling them would be Cantor Fitzgerald and Eurobrokers – the two largest government securities firms in the U.S. The federal agency mostly involved in investigating those transactions was the Office of Naval Intelligence. On 9/11, those same three organizations: the two largest government securities brokers and the Office of Naval Intelligence in the US took direct hits.

...

On the first day of the crisis, the SEC lifted “Rule 15c3-3: Customer Protection – Reserves and Custody of Securities.” Thus GSCC [Government Securities Clearing Corporation] was thus allowed to substitute other securities for the physical securities destroyed during the attack. “…collateral substitutions can and should be made with regard to immediately maturing collateral.” [191] At this point in time, the Federal Reserve and its GSCC had created a settlement environment totally void of controls and reporting – where it could substitute valid, new government securities for the mature, illegal securities, and not have to record where the original bad securities had come from, or where the new securities went – all because the paper for the primary brokers for US securities had been eliminated.

...

More to the story but you'll know the end game is nigh when Federal Reserve Bank's are brought down by terrorists or go up in flames mysteriously when an audit is finally done on their records. Same holds true for the Comex when default is imminent....

The cloud is also your friend whistleblowers who want to stay anonymous. You maybe able to burn down a building but the whole cloud is alot harder.

Wed, 02/05/2014 - 16:59 | 4405295 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

And some JPM Comex Argentina double entendre

While first print is preliminary and subject to revision, the size of recent discrepancies have no precedent. This suggest that the government may be attempting to manage expectations by temporarily fudging the "estimate aka eligible gold " of reserve numbers (first print) while not compromising "actual aka registered" final reported numbers. If this is so, it is a dangerous game to play and one LIKELY TO back (remove evidence)-FIRE.

 

During a balance of payments crisis - as Argentina aka the global markets are undergoing - such manipulation of official statistics (and one so critical for market sentiment) is detrimental to the needed confidence building around the transition in the FX aka USD to ... as a reserve currency regime.

 

Burn baby burn disco inferno is going to be playing through the loudspeakers at the Comex right before default happens...

There should be in spike of life insurance policies or increased premiums for higher payouts spiking for people in the banking profession right before the shtf.

Wed, 02/05/2014 - 17:49 | 4405609 Thought Processor
Thought Processor's picture

It was a lot more than 240 billion.   The original pot was put into a CIA run bank and presto! 

You now have 2.4 trillion.

 

 

Rumsfeld Buries Admission of Missing 2+ Trillion Dollars in 9/10/01 Press Conference

On September 10, 2001, Secretary of Defense Donald Rumsfeld held a press conference to disclose that over $2,000,000,000,000 in Pentagon funds could not be accounted for. Rumsfeld stated: "According to some estimates we cannot track $2.3 trillion in transactions." According to a report by the Inspector General.

 


 

 

 

 

 

Wed, 02/05/2014 - 20:38 | 4406203 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

Even better.

From the memory hole.

http://www.cbsnews.com/news/the-war-on-waste/

On Sept. 10, Secretary of Defense Donald Rumsfeld declared war. Not on foreign terrorists, "the adversary's closer to home. It's the Pentagon bureaucracy," he said.

He said money wasted by the military poses a serious threat.

"In fact, it could be said it's a matter of life and death," he said.

...

Sounds like a not so veiled threat at the Office of Naval Intelligence and those investigators investigating those securities the FED allowed to be cleared under special circumstances and in the process willfully covering up criminal evidence in a Navy investigation. You don't get away with that sort of thing unless you have cover from the highest levels of government you know like the Secretary of Defense for arguments sake. Not only get away with it but all these 'patriots' who honored an oath to defend against all enemies including those from within don't bother to follow through and finish what those investigators started.

Any semblence of America died that day and not because of the brown people flying the planes...

Wed, 02/05/2014 - 21:54 | 4406402 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

To follow this trail a bit further another trip down the memory hole to the precursor of PRISM aka PROMIS.

http://www.nytimes.com/1987/06/14/us/justice-dept-is-held-in-contempt-in...

http://www.nytimes.com/1991/10/21/opinion/a-high-tech-watergate.html?pag...

Inslaw's principal asset is a highly efficient computer program that keeps track of large numbers of legal cases. In 1982, the company contracted with the Justice Department to install this system, called Promis, in U.S. Attorneys' offices.

...

The new claims alleged that Earl Brian, California health secretary under Gov. Ronald Reagan and a friend of Attorney General Edwin Meese 3d, was linked to a scheme to take Inslaw's stolen software and use it to gain the inside track on a $250 million contract to automate Justice Department litigation divisions.

...

These informants, in addition to confirming and supplementing Mr. Riconosciuto's statements, claim that scores of foreign governments now have Promis. Dr. Brian, these informants say, was given the chance to sell the software as a reward for his services in the October surprise. Dr. Brian denies all of this.

...

The reported sales allegedly had two aims. One was to generate revenue for covert operations not authorized by Congress. The second was to supply foreign intelligence agencies with a software system that would make it easier for U.S. eavesdroppers to read intercepted signals.

...

Mr. Casolaro told friends that he had evidence linking Inslaw, the Iran-contra affair and the October surprise, and was going to West Virginia to meet a source to receive the final piece of proof.He was found dead with his wrists and arms slashed 12 times.

...

Then this.

https://web.archive.org/web/20001018124734/http://www.thestar.com/thesta...

OTTAWA - The RCMP is conducting a probe related to allegations that foreign spies used rigged software to hack into Canada's top secret intelligence files.

A Star investigation has found the probe revolves around stunning claims that computer software used by the Mounties and Canada's spy service to co-ordinate secret investigations was rigged with a ``trap door'' to allow American and Israeli agents to eavesdrop.

...

But sources close to the investigation say it revolves around Promis, a software program first developed to assist prosecutors in the United States Department of Justice. The case management software also has application for intelligence agencies keeping track of surveillance and investigation files.

...

A former Israeli spy also alleged the software had been fitted with an electronic trap door to allow American and Israeli agents to spy on those who used the software.

...

 

As we can see PROMIS if you read the original information plays a big part in 9/11 also. The Federal Reserve (led by Allan Greenspan) by clearing those securities in that manner not only covered up evidence into a criminal investigation he also blocked the NSA and CIA analysts not in the know from being able to find out also at the same since the PROMIS software most certainly was offered up to them since that is what the NSA does. Greenspan and the FED knowing PROMIS was backdoored or not there is no way knowing what we know about the NSA now since the Snowden leaks couldn't have cleared those securities in that manner no less and in turn blocked the NSA and CIA from finding out who was attached to them through their backdoors in the databases without the highest levels of government protecting them because of this reason alone.

 

Wed, 02/05/2014 - 23:58 | 4406813 Oh regional Indian
Oh regional Indian's picture

The PROMIS story is one mind-bender.

Some people lost their lives, others were fraudulently jailed, framed. It was not for the contract, but the backdoor into banks, from what I understood.

Great information.

ori

Wed, 02/05/2014 - 15:59 | 4405073 Randoom Thought
Randoom Thought's picture

Argentina has the resources to be independent of BIS central bank overlords and they can, if they have the will, create a regional coalition (the way that Libya was trying to do before the western powers decided to murder everyone ... now look at Africa, there are Chinese companiea and US troops running all over Africa). They may however have to get rid of the elitists in charge. The elitists cannot be trusted to work in the best interest of the country and its people. As Machiavelli pointed out, elitists can always be controlled by buying them off.

Wed, 02/05/2014 - 16:39 | 4405317 HardlyZero
HardlyZero's picture

Argentine Gold Reserves (if it still exists): 62 tonnes.

BIS Gold Reserves: 115 tonnes.

Where is the Argentine Gold Reserve...is it gone ? 

Wed, 02/05/2014 - 16:00 | 4405075 Bunga Bunga
Bunga Bunga's picture

Cooking the books went wrong.

Wed, 02/05/2014 - 16:18 | 4405186 adr
adr's picture

Should have used a Ronco Showtime Rotisserie. The handles are cool to the touch.

Wed, 02/05/2014 - 16:22 | 4405206 Platinum
Platinum's picture

Set it and FEDgetit!

Wed, 02/05/2014 - 18:48 | 4405841 logicalman
logicalman's picture

I think they are now officially over-cooked.

Wed, 02/05/2014 - 16:03 | 4405104 gwar5
gwar5's picture

Crips, they follow ZH!  That's just a banker's version of a fricking boating accident!

 

 

Wed, 02/05/2014 - 16:20 | 4405195 QQQBall
QQQBall's picture

Was a nearby high-rise struck by a 747?

Wed, 02/05/2014 - 22:34 | 4406608 lotsoffun
lotsoffun's picture

anybody seen jonnie corzie lately?

Wed, 02/05/2014 - 16:22 | 4405205 hotrod
hotrod's picture

I am sure Lloyds is good for that 20 billion of reserves that was in there.

Wed, 02/05/2014 - 16:22 | 4405209 vincent
vincent's picture

Imagination unnecessary.

It's about goal seeking.

Mission accomplished

Wed, 02/05/2014 - 16:42 | 4405265 Sabibaby
Sabibaby's picture

...

Wed, 02/05/2014 - 16:31 | 4405267 Sabibaby
Sabibaby's picture

Between boating accidents and fires we're all losing a lot of important things. What's wrong with a fire proof safe in the basement anyway?

Wed, 02/05/2014 - 16:41 | 4405324 TNTARG
TNTARG's picture

Argentina entering The First World.

Firemans dead and all. No plains involved, perhaps a drone?

OMFG.

Wed, 02/05/2014 - 16:42 | 4405328 HardlyZero
HardlyZero's picture

Iron Mountain may change their name to Fire Mountain...might catch on.

Thu, 02/06/2014 - 00:00 | 4406816 Oh regional Indian
Oh regional Indian's picture

You mean it might catch on...fire?

Wed, 02/05/2014 - 16:45 | 4405350 Joebloinvestor
Joebloinvestor's picture

I bet they didn't lose one file of anybody who owes the government money.

Wed, 02/05/2014 - 16:51 | 4405372 New American Re...
New American Revolution's picture

Sounds like solid rocket fuel to me, it's the choice of the most professional arsonists.

Wed, 02/05/2014 - 16:55 | 4405399 MsCreant
MsCreant's picture

9 first responders killed by fire

9 first responders killed by non-fire related means (blunt force, bullet).

 

9 killed, 2 missing, WTF.

Firemen getting suicided? Best not to show to one of these fires too early, at least until the dirty work is done and the evidence is all heated up. 

Wed, 02/05/2014 - 17:01 | 4405419 ILikeBoats
ILikeBoats's picture

Translation:  the looting is 99% complete. "Pull it"

Wed, 02/05/2014 - 17:04 | 4405423 jefferson32
jefferson32's picture

(Google translate): Buenos Aires , February 5, 2014 - The fire today in our warehouse Barracks in the City of Buenos Aires is a tragic event and we are deeply saddened by the death of the brave first responders who immediately fought to save our personal and facilities . Accompany his family on this terrible loss and our thoughts are also with the other people who have been hospitalized to wish them a quick and complete recovery.

We also want to bring peace to the families of our employees , as all have been evacuated and are safe .

We are working on the investigation of the cause of the incident working closely with local authorities to investigate what happened. We respect this moment of pain and we can not speculate or talk about assumptions, the building was in line with local regulations and had a system of both detection and firefighting.

We will provide more information as it becomes available. We appreciate the patience and understanding as we work through this critical period.

http://www.ironmountain.com.ar/news/2014/impr02052014.asp

Wed, 02/05/2014 - 17:10 | 4405465 IridiumRebel
IridiumRebel's picture

i No memientes !

Thu, 02/06/2014 - 07:45 | 4407220 TNTARG
TNTARG's picture

(No me mientas!) Or, as we use to say, "Mentime que me gusta!" to those who like believing in fairy tales.

Wed, 02/05/2014 - 17:04 | 4405424 youngman
youngman's picture

It will be very interesting to find out..if we ever do...what the cause of this fire was....pretty intense for a fire proof building...

Wed, 02/05/2014 - 18:03 | 4405675 22winmag
22winmag's picture

Kinda like that cruise missile taking out that "black budget" accounting office in the Pentagon on 9/11.

 

More boom, less flames, same effect.

Wed, 02/05/2014 - 18:17 | 4405727 waterhorse
waterhorse's picture

Nine first-responders were killed, seven others injured and two were missing as they battled a fire of unknown origin that destroyed an archive of bank documents in Argentina’s capital on Wednesday.

Really sad.  Why were documents worth risking first-responders' lives for?  Let them burn.

Wed, 02/05/2014 - 18:42 | 4405808 Thought Processor
Thought Processor's picture

I'm half waiting for Japan to come out and say that their own financial documents can not be accessed because they were housed next to Fukushima.

Wed, 02/05/2014 - 18:50 | 4405851 logicalman
logicalman's picture

Japan's financial records are filed under 'fiction' at Fukushima library.

 

Wed, 02/05/2014 - 19:16 | 4405953 smacker
smacker's picture

Criminal elites destroying the evidence.

Move along please, nothing to see here.

Wed, 02/05/2014 - 19:52 | 4406082 Clowns on Acid
Clowns on Acid's picture

This fire is going to mean that the US Fed is going to take more time to get Argentina their gold. Oh yeh, don't you worry auditors, Arhentina has gold stored at the Fed.

The Bolsheviks have completely overtaken Argentina, a Chilean type revolution must be close.

Wed, 02/05/2014 - 20:15 | 4406154 jonjon831983
jonjon831983's picture

Someone had something to hide, or...

Insurance fraud

Wed, 02/05/2014 - 20:27 | 4406193 TNTARG
TNTARG's picture

Kids...

1. Argentina has not a socialist government.

2. The Argentinean Central Bank belongs to the State, is not in the hand of private owners like the FED or the ECB or many other Central Banks around the World

3. Argentina doesn't have to sell bonds in order to print money. IF Argentina wants external credit assistance, THEN decides to sell bonds. But not to print money as it happens in the US or in Europe.

4. Argentina is not a "poor" country. It has lots of resources of any kind; plus, it produces food for around 700 milion people (population: 40.091.359 - 2010 INDEC' survey). Distribution of wealth, that's a big issue and banksters have a lot to do with it.

5. The building that went down on fire WAS NOT some kind of Federal Building, ON THE CONTRARY. It was a building property of Iron Mountain Corporation, (founded in 1951), being IM a corporation dedicated to the storage of banking and private companies' archives.

Iron Mountain, la multinacional dedicada a la protección y almacenamiento de documentos de empresas, y propietaria del galpón que se incendió en Barracas, tiene antecedentes de cuatro siniestros en sus depósitos. Dos de ellos ocurrieron en julio de 2006, en Canadá y Gran Bretaña. Los otros dos fueron con dos días de diferencia, en marzo de 1997, en Estados Unidos, y se los investigó como presuntamente "intencionales".

http://www.pagina12.com.ar/diario/ultimas/subnotas/20-66764-2014-02-05.h...

INTENTIONAL?

I think it was. What were they hiding? Who knows. What were they hiding in WTC building 7?

Just to get it right, no intention to defend Cristina or whoever. WE NEED TO HAVE ACCURATE INFORMATION.

 

(Sorry for my poor English. I'm a south american-italian girl, being Spanish and Italian my mother tongues).

 

 

 

Wed, 02/05/2014 - 20:37 | 4406239 Radical Marijuana
Radical Marijuana's picture

So, TNTARG, I guess you can speak Cocoliche?

http://en.wikipedia.org/wiki/Cocoliche

Wed, 02/05/2014 - 21:19 | 4406391 satoshi911
satoshi911's picture

RM, how many Argentina expat's does ZH have here? Really does anybody really know?

Wed, 02/05/2014 - 23:56 | 4406808 TNTARG
TNTARG's picture

I'm not "expat", baby. I was born in Argentina. I have both italian (european) and argentinean citizenship and a long lasting US VISA. I mean, basically, I could live everywhere I want. However, I've chosen to live here, freely. It's an amazing country, Argentina. Ashtonishingly beautiful and full of opportunities, if you're wise. Radiation free for now, also, according to my Geiger-Müller counter.

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