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Argentines Stumped By Mystery Trucks Loaded With $130 Million In "High Denomination" Bills
Apparently taking a page out of the Spanish government's playbook, Argentines in the Santa Cruz region were surprised yesterday afternoon when at least five bright yellow armored trucks accompanied by heavily armed police paraded through the city. Just weeks after Kirchner's Peroniost government lost the election, and coming after five office fires (destroying banking and economic files from the current regime), local press reports the trucks loaded up with $130 million of banknotes at the airport and driven to banks in the region where outgoing President Kirchner's sister-in-law is governor. Amid comments by the central bank that there are no reserves left, and ongoing discussions of larger banknote denominations and (implied 50% devaluations), one could only speculate where the officially "business-as-usual" transfer of $100s of millions of banknotes will end up.
As local press reported (via Google Translate)...
The passage of these trucks through the city, road banks and other unspecified places, attracted wide attention of ordinary citizens who quickly settled in social networks, in the mystery of what was happening...
Un amigo saco estas fotos ahora en Rio Gallegos, dcnas d camiones d caudales!!Los Kirchner se mudan? @CFKArgentina pic.twitter.com/Sy3ftETVuR
— ANDY....MUJER (@andyhowez) November 25, 2015
This time, however, the situation is more complex and has other more politically tinged.
@radiomitre @Lanataenel13 @luisnovaresio río gallegos copado de camiones de caudales.una prueba más del vaciamiento pic.twitter.com/IfnLnTVtu1
— MARIANO FERRARO (@MARIANOMFERRARO) November 25, 2015
As The Bubble's Bianca Fernet reports,
the money was intended for Santa Cruz’s new governor and outgoing President Cristina Fernández de Kirchner’s sister-in-law, Alicia Kirchner, as well as her Tierra del Fuego counterpart Rosana Bernton.
The reason? The local informant alleges that it is to allow Alicia Kirchner’s government to pay salaries and end-of-year bonuses so as not to draw local attention to additional public spending. The province allegedly runs a massive deficit, and this cash from the outgoing national government would buy enough time to negotiate with the new government down the road.
This is speculation. However, five armored vehicles suddenly driving from airports to banks warrants a better explanation than, “This is something routine we always do, you’ve just all somehow managed to never notice it 15 days before a government changeover.”
This is one of the reasons why the national government refuses to make the transition before Decmber 10th, according to sources close to a national official, if these movements are not made ??now, then they will be blocked.
Caravana de transporte de Caudales en Gallegos Santa Cruz 24 11 2015 pic.twitter.com/fy0T22OVxC
— GUILLERMO FUSTER (@guillermofuster) November 25, 2015
OPI Santa Cruz concluded,
This "means that the machine does not stop," - referring to the printing of banknotes, which in turn feeds the vicious circle of devaluation and inflation, since by injecting more current without support, the currency depreciates.
And of course the corruption continues.
Perhaps this explains why President-elect Macri has this succinct statement last week...
- ARGENTINA’S MACRI SAYS NO DOLLARS LEFT IN CENTRAL BANK
As hyperinflation begins to run rampant, and as we detailed previously contrary to government figures, the Massachusetts Institute of Technology’s Billion Prices Project found that the price of essential foods has increased six-fold in the South American nation since 2008.
The Cristina Kirchner administration has ignored repeated requests by economists, banks, and other financial institutions to issue larger-denomination bills. Some 42 percent of Argentineans deemed it necessary in a 2014 survey by Argentina-based pollsters Poliarquía.
However, President Kirchner chose to redesign existing notes instead. Earlier this year, the government introduced a new AR$50 bill depicting the Falkland Islands, an archipelago in the South Atlantic ocean subject to a lingering territorial dispute between Argentina and the United Kingdom.
In 2012, Kirchner launched a AR$100 bill with the face of Eva Perón, the wife of former President Juan Perón and an iconic figure for Peronists. Most recently, the government updated the AR$10 note, adding security improvements and revamping the image of founding father and creator of the Argentinean flag Manuel Belgrano.
The new designs, however, have done nothing for Argentineans’ increasingly bulky wallets.
“Printing money out of control generates inflation, and that renders larger denomination bills necessary,” Iván Carrino, an economic analyst for IG and author of Cleptocracia, tells the PanAm Post. “Trading large sums has become an inconvenience.”
In a country where real-estate transactions are normally done in cash, even buying a new car can be burdensome and potentially dangerous. Since a new vehicle costs no less than AR$100,000, buyers need to carry at least 1,000 bills, Carrino explains. “You need to take a bag with you.”
According to the Central Bank of Argentina, two-thirds of the notes in circulation are AR$100 bills. ATMs quickly run out of smaller denomination notes as withdrawal rates increase. “Today, you go to an ATM, and they don’t have AR$50 or AR$20 notes anymore,” Carrino says.
The Argentinean National Mint has been unable to cope with the public’s demand for cash, and the government has outsourced the printing of bills several times. This year, the government has contracted Chilean and Brazilian mints to print additional cash ahead of the holiday season, according to local media reports.
Between January and August 15, 2015, the Central Bank printed 519.4 million AR$100 bills — 52 kilometers worth, if the bills were placed side by side.
Argentineans know inflation all too well. Since the creation of the Central Bank in 1935, the country has only experienced five years of inflation between 0 and 2 percent, according to Nicolás Cachanosky, Denver Metropolitan State University assistant professor of economics.
“Inflation is a consequence of money printing, and this leads to the necessity of larger denomination bills,” Carrino concludes.
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The Clinton Foundation Has A New Home!
oh wait....
Zerobrains love cash so much because it's covered in mucus, cocaine and cum and it comes from teh government.
So there is only speculation as to the contents. My guess - the trucks are empty.
Rampant inflation is a corrosion no one wishes on any country or people...
It is a sign of gross mismanagement by their gov't.
But unfortunately, developments like this are just what leads some fools to put their money...
Into easily confiscated and/or "zeroed-out" alternatives like bitcoin...
The secretive US shadow gov't loves this kind of news and endorses it.
Yeah bullshit.. you people don't hate teh government (like teh cryptoanarchists do). Truth is you want to become teh government. That's also why you like that fucking worthless bullshit called "dollars". You want them to become your guy's weapon.
It is being prepared for shipment to Venezuela, to ease the toilet paper shortage there.
Each truckload is going to ACE hardware to buy a wheelbarrow.
Is Argentina even a real country, or just some made up place used to scare little kids?
By the look of it, will be the next place where people will start turning tricks for food.
Kinda like a Greece of the S America.
On the other hand, could get bumped up on the sex tourism country list though. That might help the economy.
http://goo.gl/cyOvYY
Huh??? The most intelligible and relevant austrians support a fully privatized banking system...
Even the retards are asking " Is this even English "
jeez, Cointard - none of the Zero Hedgers are vested in dollars - and the few they possess aren't covered in your fantasy debris, either.
Looking at the long time line, most of the cool kid Zero Hedgers are vested in food, guns, ammo, safe haven, acreage, good friends, silver, and gold.
Obviously, you aren't.
Good luck with your unicorn fart block chain and wallet.
No Cash here mates! NO CASH!
good to see you are on point.
Cash == Trash
No Cash here mates! NO CASH!
Listen to HowdyDoody.
The trucks are empty.
The old "look at my right hand" as i rob you with my left hand.
Yo coinhead....yeah...you...Mr. Fucking Troll...Mister 12 snotty weeks of troooooooolling and playing with yourself
Spell check....look into it - you don't want people to CONFIRM that you're a total idiot.
Try this at your pansy webby site loaded with your butt buddies.
FUCK OFF ASSHAT
Thy are getting ready for hyperinflation. Fresh printed trillion dollar notes.
Yeah they're stumped because nobody wants physical cash...
Right, thats why they need all those bright yellow BitTrucks with BitGuards carrying BitGuns cuz nobody wants BitShit when all one needs to do to take it is for the new BitGovernment to press the BitButton and poof!...it's gone.
For better or NWO worse.
Whats in your BitWallet? ;-)
Tell me what if feels like o'mighty "gold, cash & bonds" Zerobrains to be a dinosaur with a cranial capicity just barely large enough to recognize that you are in fact.... a dinosaur?
As a compatriot of dinosaurs, your insults to everyone with differing opinions to yours are seen as a shrill, 'protect the banks at all costs' kind of anti-psyops sort of bullshit. Every post you make is like you're some sort of SJW that should be mocked as a matter of principle.
This from a complete fuck'en dope who can't even complete a proper sentence with proper spelling and or punctuation.
He has guns.
BitCon is a side interest,
You ought to know who you are fucking with.
OH! He's actually satoshi himself? well shit
Do you have any common sense?
I'll give Phony Star a "Legal giggles Bit-Chit", when she gains some common sense.
Yeah we do... that's why we is telling you that cash and bonds will become worthless. Gold will hold it's value but be outperformed by crypto.
That imaginary friend you call Cockasaurus?
Tell Rosie hello for me... Be sure and keep those Thumb-Drives, in an faraday cage.
So we can confirm you're just the same tool we met aprox. 2 years ago?
You are "in fact" the douche bag Phone Star?
I'd like to set the record straight/
No need for a faraday cage. EMP is teh ultimate desperation in debating currency.
GAME OVER ~ INSERT ANOTHER 0.001 BTC TO PLAY
Phone Star, proxies itself through Coffee Shop wifi.
I gotta admit, misspelling "the" makes me really want to take his advice seriously.
I'll take the "obfiscation", as an unequivical YES.
I seem to remember fonestar being able to spell "the" correctly. Fonestar-Argentina perhaps?
fonestar was managed by PAL. coinhead is managed by PAL.
Welcome to reincarnation fonestar.
Fonestar was a God of bitcoinology. He was eloquent, well mannered, and persuasive, even as he plunged headlong into crypto currency destruction.
He was found dead, apparent suicide involving a goat, a dry cleaning bag, and his own blockchain wrapped around his neck.
I guess the volatility of a cartoon stock market ramp up sell off electronic currency replacement was too much for him, sensitive soul that he was.
This Coinstar Gollum is a pathetic shadow of the glory of Fonestar.
Lurking, and always with the " Teh byes teh Precious ands makes my piles of FRN's goes tues teh moons, gollum, gollum. "
I have bookmarked his You Tube Channel and he admitted that he was coinhead on a post over on YouTube.
You can check out his channel, periodocally, and fuck with him over there.
https://www.youtube.com/channel/UCd8cUls2Ml2UxcbiC-sfVyw
No you cannot fuck with teh fonestar channel "Tom" because it is fonestar who will fucky fuck with you!
Oh stfu shill boy
I must be slipping. I can't filter between the sarcasm and vitriol.
Last I checked, Argentina had capital controls. Citizens were limited in the amount of gold, silver and foreign currencies they could buy, and USD were heavily marked up on the black market.
I don't see too many choices.
I guess one could always grab some of the grain bags piled along the roadside.
Ha ha ha another " I want to be a hacker " and ill hack your facebook account ha ha ha what a loser.
I have never wrote anything about hacking into his account.
But you do reveal where your mind is with your enlightening post.
I can fuck with him here.
Mindfuck is a game I play to win.
Shall I look you up on YouTube?
You mistakenly believe that you have anonymity. You do not.
Even your avatar will leave a trail.
Good luck.
I'm behind 7 proxies.
BWAHAHAHAHA
Actually...I can.
LOL, that guy on the $200 bill looks like he's giving the "up Your's" sign.
He'll have the same expression when it's the 200,000 bill.
pretty sure it's photoshopped.
This is getting better by the hour.
Wasn't the Argentinian 'Finance Minister', just bitching about how the central bank was out of "foreign exchange reserves " less then 48 hours ago?
Ohhh... Wait.... it was the opposition.
No possibility of complicity, on a late Sunday --- Post Holiday----Open.
They'll end up in Kirchner's bank accounts.
just remember in the early 1990's Argentina came "this close" to dollarizing, but the sawed-off scumbag Carlos Menem queered the deal with his shameless corruption
he lost his son for it, too
Nothing to see here peasants, just move along, move along.
Socializm iz for da peeps!...lmao!
Seems like the Argentinian people have the US population beat. The US literally sends plane loads of cash to the Middle East to bribe dictators, fund ISIS, etc, and few notice and fewer care.
just wait till it happens here
Did you read the post above yours?
I would highly recommend.
At least they have toilet paper... unlike Venezuelans.
Japan, are you listening? They desparately need inflation to pierce their debt bubble. Take a lesson from the Argentinian book.
Argentina will join the international credit markets again - horray, they can take on more debt!
Milton Bradley prints money like that for their board games. Merry Christmas!
I get a hot poker shoved up my ass if I transact over 10K, and these fuckers are loading Brinks trucks with pallets of fiatskies? eg; paper money.
I'm calling the " Turko Files". It ain't right... bitchez
And you're a member of WHAT powerful family again, Mr. Cross?
It's a damned sight easier to take money from people who have their feet nailed to the floor.
Well spoken. NoDebt.
Ron Paul for president and Mike Turko for vp.
"This is fucking BULLSHIT MAN!!!"
So you are in San Diego? Turko Files???
Argentines actually hold much of there savings in dollars (gulp) FYI
Argentines actually hold much of there savings in dollars (gulp) FYI
I'm assuming I should be short
1 Argentine peso / U.S. dollar = 0.102986
This reminds me, of the Turkish Lira, situation last summer. SouthAfrican trade last summer? For giggles, and negative rates<> People having sex with horses is on the rise in Switzerland | New York PostIn Greece the horses are only $2 a pop.
One could end up with a centaur that looked like them. I could see his mum now, "Did you have sex with THAT horse?"
Ha they just move the decimal point easy peasy. lol
Everywhere,the same stuff,but when I was young there would have been a military coup in
these countries.I suppose the military would rather someone else deal with the problem.
If I was a manager on the F-22 or other costly project I would be getting worried.
Wide open in-your-face predatory criminality... the new normal for predators-DBA-government almost everywhere on the planet today.
The regular folks should take a break at least until they know how much more they should ask for their efforts. Its all simply a relative of measure of labors value. First we agree on a price. Then I do.
A thought? If they are going to do this thing. Where/what would be the best equivalent to measure against? It should be a staple? Or some form of energy? The trick is knowing how much to raise prices to match reality.
This probably means there is a massive devaluation coming and everyone will need more notes... its that simple
The counterfeiters on the run lol
The funny thing is, its probably not even worth it to rob one of these trucks, each truck load probably will endup buying you a slice of pizza if you are lucky come Friday
I do not think that they are loaded with Argentine Pesos as the report gives a Dollar Value.
The Central Bank of Argentina had US Dollars held in reserves and you can bet that is what is in those trucks.
It is just a Bank Heist, plain and simple.
Now where is she scootin' after the lootin'?
It is at an airport after all, right?
There is nothing like telegraphing your next move...
"she scootin' after the lootin'?"
Australia seems to be the end times rally point for the self chosen politicians who went to the cremation of care dark sacrifices.
I will gladly promise to pay you to eat a Chipotle's burrito today if you will promise to pay me to buy a slice of pizza for you come Friday.
That's hilarious that they have a bill with a picture of a guy making a rude gesture with his arm. Really sums up the whole fiat thing.
they don't.
that AR$200 bill doesn't really exist, it's called humor.
read the article, AR$100 is the highest denomination bill in argentina.
will it be the 3rd or 4th ARS collapse over the several last decades ?
I think by now every argentinian have learned not to trust their fiat currency a bit
"Argentines in the Santa Cruz region were surprised yesterday afternoon when at least five bright yellow armored trucks accompanied by heavily armed police paraded through the city."
This is a re-run of what happened in 2002-3 when USD fiat was shipped out of the country in armoured trucks. See this Guardian article from that time. (scroll down).
Good catch, thanks.
Corzine's moving to Argentina...so?
That is why there should be 2 types of citizens in court.
Regular law for regular citizens.
While "public servants" should have special law that for once goes in the opposing direction. Lowly clerk should fear heavy monetary penalties for corruption, while the highest ministers and presidents caught with gross violations - should be shot.
whatever is in those trucks i suggest it be stored next to ukraines' missing gold. or up coinheads flabby ass.
This is why you kill all the banksters. Hang them all. And the problem goes away.
Wow all these womyn ruining the world with their gurl power!
And no men with balls left to do anything about it.
So this is how the world ends.
With female empowerment, cackling.
To have a crime, you first must have progressives.
Grimaldus
This isn't even a story. Christina Kirchner is just moving her bank account.
Argentina is the poster child of why all governments need a NUMA..
https://www.smashwords.com/books/view/277193