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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 - 23:52 | 4406796 TNTARG
TNTARG's picture

Kind of, too. And piamontese, as my father was born in Pinerolo, Italy.

"Cocoliche" has evolved into "lunfardo". It's used a lot in tango lyrics. Argentineans love lunfardo. We use it a lot.

Thu, 02/06/2014 - 02:33 | 4407030 Radical Marijuana
Radical Marijuana's picture

That is interesting, TNTARG, I never heard of lunfardo before. It sounds a bit like how black English, especially through music, had influence upon mainstream English speakers? That is, "lunfardo was common in the lyrics of tango," and that seemed to be why it became more wide-spread and popular.

P.S.

Hah! As a Canadian I will point out our observation that almost everyone sounds a lot more like Canadians when they are singing. However, when they stop singing, then suddenly one can hear in their accent where they come from. 

Thu, 02/06/2014 - 07:50 | 4407226 TNTARG
TNTARG's picture

Lunfardo is a dialect originated and developed in the late 19th and early 20th centuries in the lower classes in Buenos Aires and the surrounding Gran Buenos Aires,[1][2] and from there spread to other cities nearby, such as Rosario and Montevideo, cities with similar socio-cultural situations.[citation needed] Originally, Lunfardo was a slang used by criminals and soon by other people of the lower and lower-middle classes.[citation needed]

Wiki.

Very interesting and picturesque! 

Thu, 02/06/2014 - 08:05 | 4407230 Tall Tom
Tall Tom's picture

Why did you apologize for your "poor" English?  You write well. It seems as you are fluent.

 

Thank you for your perspective from Argentina. Your contribution is appreciated.

Thu, 02/06/2014 - 05:05 | 4407140 smacker
smacker's picture

In my experience, virtually every South American country has governments which are on the political Left.  Chile possibly being the exception (according to Simon Black's reports). Nowadays, socialism has morphed into corporatism. Whether one chooses to call them "socialist" or some other label is not really here nor there. They are all into big government, statism, collectivism, corruption and incredibly flawed economic policies. THAT woman takes legal action against anybody who dares to speak the truth about her official inflation figures etc. That all looks very socialist to me, given my definiton of socialism is an umbrella term for most people of the Left.

Thu, 02/06/2014 - 11:43 | 4407792 TNTARG
TNTARG's picture

Just to get it straight, we don't have FEMA camps, nor FEMA... Our government does not make surveillance with drones upon us (yours does, upon us too!).

And... Nobody cares about "official inflation figures" nowhere in the World, pal. Everybody knows all governments lie about every statistical information they release, as well as every International Agency of any kind.

"Official figures" are for highschool kids and/or for certain business.

 

Thu, 02/06/2014 - 02:37 | 4406206 Radical Marijuana
Radical Marijuana's picture

"Nine first-responders were killed, seven others injured and two were missing as they battled a fire of unknown origin ..."

That reminds me a little of the 9/11 situation. If one is responding to something which is covertly being controlled by human beings, in ways which are way worse than any reasonable expectations of natural phenomena, then those first-responders are going to behave according to what they believed was rational, IF the fire had natural causes, but those behaviors may become grossly wrong, IF the cause of the fire was due to quite creative arson.

As with fire fighters who reported on their radio that they almost had the fires under control, on 9/11, but then, the whole building they were in suddenly collapsed and killed them, they had no way to be prepared for what was really going to happen.

Therefore, I speculate that perhaps something like that happened to the first-responders in this story in Argentina. Perhaps they were not basing their behavior on the idea that creative arsonists where behind what was happening, and therefore, became over-extended? Fighting fires is like a military campaign, because fire, as force of natural, is dangerous. However, it can become way more dangerous IF there are hidden man-made forces driving that fire, which most first-responders would not normally presume was going to be the case.

If so, then one wonders whether the cover-up of what really happened in this story in Argentina might become as bad as the cover-up regarding what really happened on 9/11/2001?

Wed, 02/05/2014 - 20:43 | 4406260 Too Big 2
Too Big 2's picture

Now the guy's got Paulie as a partner. Any problems, he goes to Paulie. Trouble with the bill? He can go to Paulie. Trouble with the cops, deliveries, Tommy, he can call Paulie. But now the guy's gotta come up with Paulie's money every week, no matter what. Business bad? Fuck you, pay me. Oh, you had a fire? Fuck you, pay me. Place got hit by lightning, huh? Fuck you, pay me.

Wed, 02/05/2014 - 21:20 | 4406390 gafgroocK
gafgroocK's picture

 

 

 

Love the one take steady-cam shot going into the Club to sitting at the table, a masterpiece !

Wed, 02/05/2014 - 20:52 | 4406292 bankonzhongguo
bankonzhongguo's picture

Tienes thermite?

In this day and age, it is purely coincidence.

Wed, 02/05/2014 - 21:06 | 4406336 paint it red ca...
paint it red call it hell's picture

Uh huh, I know how this works.

I went to a buddies bon fire one Saturday night 25 years back to find everyone gathered around throwing boxed documents from an attorneys office into the blaze.

Turned out as a favor rendered, he was performing the document destruction service for the lawyer after word got out the the lawyer was being indicted in another case.

Beats being thrown from a 33 floor building, eh??? Did I write thrown? I meant leaping............

Wed, 02/05/2014 - 21:07 | 4406337 Gringo Viejo
Gringo Viejo's picture

As an oldster. I'd rather sniff her bush.

Wed, 02/05/2014 - 21:14 | 4406375 gafgroocK
gafgroocK's picture

 

 

 

"Learn how partnering with Iron Mountain for secure document disposal will not only save you time and money, but you'll also further your organization’s recycling goals. - See more at:  http://www.ironmountain.com/Company/Iron-Mountain-Tours.aspx#sthash.O8aq... "

Wed, 02/05/2014 - 21:15 | 4406377 bugs_
bugs_'s picture

what about the NSA's digital copies?

note to out of touch totalitarians, mobsters, and politicians - burning the courthouse down isn't enough!

Wed, 02/05/2014 - 21:25 | 4406414 satoshi911
satoshi911's picture

Office of NSA, Memorandum of Understanding

Pertaining Information Sharing Exec Order 666

Dear Iron Mountain,

We understand that you have 50 years of paper banking material that we have not scanned, we will be sending a team of NAVY seals on February 5, 2014 to copy and secure all 500 million documents that you have in your facility.

Once they documents are scanned, digitized and stored, they will be shared with INTERPOL giving you unlimited access to find new sources of revenue in your country.

Please do not share this information with another party.

See you in the morning,

Sincerely, Barry Soetro

 

Wed, 02/05/2014 - 21:16 | 4406383 blindman
blindman's picture

Carlos Arredondo - Boston Hero or NWO FRAUD?
http://www.youtube.com/watch?v=eHWkRj5JfMc

Wed, 02/05/2014 - 21:26 | 4406420 kchrisc
kchrisc's picture

Did they find Van der Lubbe walking around outside?

Thu, 02/06/2014 - 09:49 | 4407477 Calmyourself
Calmyourself's picture

Few here recognize the name but excellent reference

Wed, 02/05/2014 - 21:40 | 4406446 Roll Tide
Roll Tide's picture

Christina - do you have a light?

Wed, 02/05/2014 - 22:03 | 4406522 vachon
vachon's picture

Nine deaths and two missing?  Even Fernandez isn't that stupid.

Wed, 02/05/2014 - 22:31 | 4406580 Bdelande
Bdelande's picture

February 5th, 2014, Note to the Federal Reserve: 

 

Dear Janet;

   

If I may be so forward, as a concerned permanent resident of the United States of America, I feel compelled to write you the following distressing note.

  

Purposely degrading this Nation's hard earned reserve currency status, which was so honorably passed on to you by previous generations who built this great country from the ground up through their virtuous and industrious blood, sweat and tears, only to then implement a disgraceful monetary policy that deliberately steals from future unborn generations in order to facilitate living standards beyond our means, so as to sustain an unearned, undeserved and unprincipled culture of grotesque illegitimate debt financed over-consumption, can only be characterized as a deplorable unconscionable abomination of Biblical proportion.

 

 

Gold is God's money..................get some.

 

Respectfully yours,

Le Baron Bruno Camille Soucanye de Landevoisin


Wed, 02/05/2014 - 22:36 | 4406617 mendolover
mendolover's picture

Yes the basement was infested with la cucurachas so we had to pull it.

Wed, 02/05/2014 - 22:49 | 4406661 dexter_morgan
dexter_morgan's picture

don't cry for me, Argentina

Thu, 02/06/2014 - 00:03 | 4406825 TNTARG
TNTARG's picture

Argentina does not cry. Find some other ritornello.

Wed, 02/05/2014 - 22:54 | 4406673 Save_America1st
Save_America1st's picture

They were going to crash a couple big jetliners into that warehouse, but it had already been done before by some other government.

Wed, 02/05/2014 - 22:56 | 4406677 laosuwan
laosuwan's picture

where there is smoke there is...iron mountain?

 

The company has received media attention for losing or misplacing customer files and data, particularly tapes containing private information such as home addresses and Social Security numbers. In May 2005, Time Warner disclosed that a container of 40 unencrypted backup tapes containing the personal information of 600,000 current and former employees had disappeared while being transported in an Iron Mountain van that made 18 other stops in Manhattan that day. After the loss, Time Warner began encrypting its tapes, and Iron Mountain advised its other clients to do the same.[26][27] A year later, tapes containing personal information for about 17,000 Long Island Railroad employees were lost while in transit to the railroad's office, along with tapes belonging to the U.S. Department of Veterans Affairs being shipped in the same vehicle.[28]

In July 2006, a fire completely destroyed a leased six-story company warehouse in London.[29] The paper records of 600 customers,[30] including client files stored by several prominent London law firms, were lost.[31] Also destroyed were the medical records of up to 240,000 patients of Chelsea and Westminster Hospital.[30] The London Fire Brigade later concluded that the fire was caused by arson.[32] One day earlier, a smaller fire believed to have been caused by contractors making roof repairs damaged a company warehouse in Ottawa, Canada.[33]

In 1997a mysterious fire that destroyed a warehouse full of corporate documents, investigators interviewed dozens of witnesses but refused to offer any theories for the apparent arson.

The fire, just off the New Jersey Turnpike at Exit 8, was still smoldering yesterday. It began just before 10:30 A.M. on Wednesday, two days after a smaller blaze damaged another warehouse several hundred feet away.

That building had also been the scene of a fire on March 7.

Both buildings are owned by Iron Mountain Inc.,In August 2007, the company began retrofitting its unmarked vans and trucks with a new security and alarm system using chain of custody technology to reduce the exposure of customer data to possible loss. Among other security features, the system uses radio frequency authentication and real-time tracking capabilities to help prevent "mysterious disappearances" of tapes, or their actual removal from the vehicle, during transit.[34]

A large fire struck Iron Mountain’s document storage warehouse and headquarters in Aprilia, Italy late on Friday 4th November 2011. According to news reports, the entire building was enveloped in flames causing substantial damage to the building and, presumably, to the documents and digital content stored there. Approximately 40 employees worked in the facility but nobody has been injured. On February 5th, 2014, the company's Buenos Aires warehouse totally burnt down. At least nine firefighters died in the incident while seven resulted severely injured.[35]

Wed, 02/05/2014 - 23:17 | 4406739 Son of Captain Nemo
Son of Captain Nemo's picture

Iron Mountain warehouse?...

Do they mean this Iron Mountain!

Come to think of it -they handle just about every financial entity in the World in terms of their "hard copy".  Including Salomon Brothers in 2001 before that building went down as we've been told because of "fire"!

Thu, 02/06/2014 - 02:59 | 4407048 satoshi911
satoshi911's picture

The Argentina IM NAZI warehouse had all the NWO original documents, you know who got gold, where they & it went, ... I mean everything ... now funny its all gone.

You have to wonder that the ENTIRE zionist world is imploding and they see some kind of NUREMBERG trials coming and now they're burning all the evidence.

Wed, 02/05/2014 - 23:34 | 4406761 shillshack
shillshack's picture

Next Up:  Kristina goes for the enabling act.  Blame it on agitators or a misguided foppish youth out of touch with financial fantasy, er, reality? Wash, rinse, repeat.

Wed, 02/05/2014 - 23:33 | 4406764 shillshack
shillshack's picture

Next Up:  Kristina goes for the enabling act.  Blame it on agitators or a misguided foppish youth out of touch with financial fantasy, er, reality? Wash, rinse, repeat.

Thu, 02/06/2014 - 00:20 | 4406848 TNTARG
TNTARG's picture

Need your letters burnt? Hire Iron Mountain.

Big corporations always get the job done.

US government is THE huge client of Iron Mountain:

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

Are you interested in conspiracy theories?

Grab some popcorn:

http://www.groundzeromedia.org/the-iron-mountain-conspiracy/

Are you a skeptic? Good for you.

Thu, 02/06/2014 - 00:39 | 4406891 discopimp
discopimp's picture

Wait a darn minute, only Uncle Sam is allowed to destroy evidence so blantily!

Thu, 02/06/2014 - 00:54 | 4406909 satoshi911
satoshi911's picture

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

Back in the day was this one, the mother of all conspiracy theory's yep the same ZIONIST IRON MOUNTAIN.

Funny how here we are in 2014, talking about 1960's JFK conspiracy 'iron mountain' bs, ... but the truth is, there was a real iron-mountain company started by zionists to back up data in south america for hitler.

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

This is why HITLER hired 'Iron mountain' zionists, and only bought IBM hardware, in 1936.

Thu, 02/06/2014 - 01:27 | 4406970 satoshi911
satoshi911's picture

The company was started by Herman Knaust, who had made his fortune growing and marketing mushrooms.[1] In 1936, needing more space to grow his product, he purchased a depleted iron ore mine and 100 acres (0.40 km2) of land in Livingston, New York, for $9,000.[1] By 1950, the mushroom market had shifted and Knaust was looking for alternative uses for his mine, which he had named "Iron Mountain".

*

Funny a 'mushroom' guy who feeds you shit and keeps you in the dark is charge of storing all information, well before the NSA was empowered.

Thu, 02/06/2014 - 02:09 | 4407004 Harry Dong
Harry Dong's picture

Interesting. I found a copy and i'm reading it next...

http://www.mega.nu:8080/ampp/ironmtn.html

Thu, 02/06/2014 - 03:02 | 4407054 satoshi911
satoshi911's picture

Jekyll Island & Iron Mountain

http://www.freedomforceinternational.org/pdf/Report_from_Iron_Mountain.pdf

Oddly enough this comes from Jekyll Island.

Thu, 02/06/2014 - 00:57 | 4406928 satoshi911
satoshi911's picture

Remember that photo of Hitler floating around the other day in South America? You know with the local up country woman?

Funny how just a few weeks later all those Nazi files in Argentina, ... are gone.

Don't worry the Zionists hate light.

Thu, 02/06/2014 - 00:57 | 4406935 samsara
samsara's picture

Hmm.   Almost as convenient as 911 was to cover up the couple trillion dollars Rumsfeld misplaced eh? 

Thu, 02/06/2014 - 03:23 | 4407074 Dan The Man
Dan The Man's picture

Can't believe someone -1'd you.  Thats exactly what this is.  The Argentinian Building 7

Thu, 02/06/2014 - 01:16 | 4406962 Judge Crater
Judge Crater's picture

Burn After Reading is the title of the 1961 book by Ladislas Farago on military intelligence activities during World War II.  When Farago wrote his book, he never thought that destroying intelligence communications would progress from burn bags to burning down entire buildings.  Why do I think that hedge fund billionaire Paul Singer has something to do with this fire of unknown origins.  Singer's hedge fund, Elliott Management, is moving heaven and earth and the federal judiciary to cash in on it's vulture fund activities accumulating Argentinian debt, paying pennies on the dollar to acquire most of its defaulted government bonds.

Thu, 02/06/2014 - 01:29 | 4406971 Harry Dong
Harry Dong's picture

Just back from Disney world. AMAZING number of Argentinians spending mad money there. I'm not complaining...they sure have the Venezuelan s beat in the class and manners dept. (And where were all the "buy two!" Venezuelans this year? I didn't see any).

Thu, 02/06/2014 - 01:37 | 4406980 gwar5
gwar5's picture

Breaking bad with a meth lab

 

Thu, 02/06/2014 - 01:38 | 4406983 gwar5
gwar5's picture

Breaking bad with a meth lab

 

Thu, 02/06/2014 - 03:35 | 4407087 lakecity55
lakecity55's picture

F/A system must have been down for maintenance. What a coincidence.

Thu, 02/06/2014 - 05:22 | 4407142 The Heart
The Heart's picture

Professor James McCanny says, thay are creating a high pressure zone off the west coast of California.

Is it to keep the radiation off the food crops, and to delay the inevitable contamination of the entire western half of the USA?

Or, is it to create the drought to cause the famine, and the driving up of food costs?

Hummm....

http://www.youtube.com/watch?v=XaQIm14JCe0

(go to the 5:00 min mark)

 

Thu, 02/06/2014 - 07:37 | 4407217 22winmag
22winmag's picture

Can we please save the off-topic crap like solar flares, HAARP, and the second coming of Christ for sites like shtfplan.com and theeconomiccollapseblog.com?

Thu, 02/06/2014 - 05:33 | 4407145 russwinter
russwinter's picture

Here is the background of some of Iron Mountain's key management and you can draw your own conclusions.  The CEO, Meaney,  "first career was a CIA operations officer."  Security Officer responsible for this fire was once a "special agent of the FBI".

 

http://img703.imageshack.us/img703/1473/3ez5.png

Thu, 02/06/2014 - 07:32 | 4407214 22winmag
22winmag's picture

I always figured Iron Mountain was a spy-riddled, oil-soaked, government-owned operation.

 

Seriously folks, what would you expect from a corporation that stores more corporate intelligence, business secrets, and incriminating records than the government could ever steal by itself?

Thu, 02/06/2014 - 06:14 | 4407165 Zerohedge fan
Zerohedge fan's picture

no body no crime

Thu, 02/06/2014 - 06:56 | 4407189 paulie
paulie's picture

One question, did the building collapse because of the fire ?

Thu, 02/06/2014 - 16:29 | 4408894 AchtungAffen
AchtungAffen's picture

The fire expanded the steel structure on the roof which pushed some walls outwards.

Thu, 02/06/2014 - 07:10 | 4407204 asscannon101
asscannon101's picture

Ah, yes... The Central Banker's equivalent of, 'The dog ate my homework'.

Thu, 02/06/2014 - 07:21 | 4407209 Sid James
Sid James's picture

How long does it take to burn three small notebooks anyhow?

Thu, 02/06/2014 - 08:22 | 4407242 redwater
redwater's picture

Corrupt bankers and politicians make great kindling too.

Just a heads up for the Argentinian people.

Thu, 02/06/2014 - 08:32 | 4407257 muleskinner
muleskinner's picture

Sausage and sauerkraut.  Highly recommended.

Must have been a firebug somewhere in that building. 

Thu, 02/06/2014 - 09:18 | 4407352 headhunt
headhunt's picture

This is the Feds dry run.

Thu, 02/06/2014 - 09:43 | 4407459 d edwards
d edwards's picture

Sort of makes one think of the Reichstag fire.

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