Because Currency Wars Are So 2010

Tyler Durden's picture

There are those who think that Currency Wars are a brand new thing. They are not. More importantly, we now have finally moved on to the real deal:


This perfectly objective and otherwise impartial decision has nothing to do with recent collectivist decisions of what is for the greater good... At least one's greater good that is, which just happens to be the biggest problem with central planning at the global level.

Some more from Bloomberg:

EU will probably file challenge at WTO in coming weeks, spurred by separate dispute over YPF nationalization, person with knowledge of plan says.

  • Other WTO members may join action, person says
  • NOTE: Argentina has subjected growing number of imports to licensing regulations since 2008, drawing objections from EU, U.S., Japan, other WTO members

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maxmad's picture

Charmin vs. Euro/dollar/yen??

idea_hamster's picture

No -- you can't sue yourself.

Buckaroo Banzai's picture

You wouldn't know it from the MSM, but Argentina is auguring in. 

"Decadence in Argentina as it falls apart"

"About to devaluate: Argentina restricts the purchase of Dollars"

"And so it ends for Argentina"


kridkrid's picture

Interesting reads.  Though I would say it all might be indicative of the infinite growth with finite resources conundrum that the world faces instead of pure anti-politician rhetoric that the author uses.

Buckaroo Banzai's picture

Well, if you follow his blog regularly as I have for many years now, you'll understand that his low opinion of the local politicians seems quite justifiable.

I know people who grew up in Argentina. The politics there over the last 40 years make our politicians look saintly in comparison.

AchtungAffen's picture

As an argie myself, that guy is full of shit.

Buckaroo Banzai's picture

Well he has established credibility by reporting on day to day events in Argentina for many years now. Predictions he has made based on his on-the-ground observations have subsequently come true.

Instead of making a flip derogatory comment, maybe you can point to a body of work backing up an alternative point of view? Or at least express one?

Otherwise, you're wasting everybody's time.

GMadScientist's picture

A well-worn dollar is fine, but be careful of the cocaine content in those sensitive parts; don't want an accidental fiat booty bump.


ABG LINE's picture

The Road to Serfdom.

Not Too Important's picture

Yes, the 20 failed NPPs and 20+ SFPs, not to mention the Mitsui chemical plant explosions with uranium involved, has already accelerated the timetable towards The Road.

What McCarthy didn't imagine was that it would apply to the entire world.

“The rain falls upon the just
And also on the unjust fellas
But mostly it falls upon the just
Cause the unjust have the just's umbrellas”
? Cormac McCarthy, The Stonemason

fuu's picture

Nothing to worry about, Mitsui says it was a glue factory in Waki. Plus Mitsui says the radiation agent is harmless to people.

Zero Debt's picture

Paved with good intentions.

Death and Gravity's picture

By the time it goes through the motions, the Eurozone will have ceased to exist.

sunaJ's picture

And if you do not comply with our demands with this protest, then we will have to be forced to vigorously protest.

GeneMarchbanks's picture

Something tells me Argentina pretty much expected this.

Greater Fool's picture

...and if that didn't work, just like the habitual Falklands saber-rattling recently didn't work, then I guess all that's left for that government to try is invading Antarctica.

From what I can tell, it's particularly important in Argentina to give the Generals what they want....

Paul Atreides's picture

Currency wars + trade wars = World Wars

WhyDoesItHurtWhen iPee's picture

yawn .......... zzzzz ............huh..............zzzzz

GMadScientist's picture

Ah yes, a nice staple of the global depression...random acts of futile, if not counter-productive, protectionism.


kridkrid's picture

While I've spent most of my life believing what you have written, I have also come believe that so much of what I've been taught, the "conventional wisdom" of economics, is so completely false, that I now also question the meme that protectionism is by definition bad.

If a country wants to protect it's resources from multinational corporations who may or may not have gotten to their claims on said resources in an honest fashion, who am I to say that said country can't reclaim them?  That is, after all, what this is really about.

rwe2late's picture

 Historically, the US built up its economy under protectionist policies.

The switch to anti-protectionism only came when the US wanted OTHER nations to cease favoring their domestic products over US exports, and US "investments".

kridkrid's picture

Right.  Anti-protectionism is really cover for pro-imperialism.  Only not really imperialism for the sake of expanded US interests, but for the sake of corporate interests, which isn't the same. 

“I spent 33 years and four months in active military service and during that period I spent most of my time as a high class muscle man for Big Business, for Wall Street and the bankers. In short, I was a racketeer, a gangster for capitalism. I helped make Mexico and especially Tampico safe for American oil interests in 1914. I helped make Haiti and Cuba a decent place for the National City Bank boys to collect revenues in. I helped in the raping of half a dozen Central American republics for the benefit of Wall Street. I helped purify Nicaragua for the International Banking House of Brown Brothers in 1902-1912. I brought light to the Dominican Republic for the American sugar interests in 1916. I helped make Honduras right for the American fruit companies in 1903. In China in 1927 I helped see to it that Standard Oil went on its way unmolested. Looking back on it, I might have given Al Capone a few hints. The best he could do was to operate his racket in three districts. I operated on three continents.”
? Smedley D. Butler, War is a Racket: The Antiwar Classic by America's Most Decorated Soldier
GMadScientist's picture

Some of my best friends are corporations...or at least a large number of people work at them (although not so much in America anymore).

I can be for fair-trade and recognize the deflationary impact of government meddling at the same time, how about you?


falak pema's picture

whose 'cock do you suck first', the friends from corporates or those of 'we the people'. Just asking...its renaissance times and the pope (the global market) is now fighting the nation states...don't let my poetic liberty of porno literature rile your bile. 

BTW : the turcs or the mongols are at our first world door step, so we cannot 'wank ourselves to death' like in Pompei; hope you appreciate that. Always being liven up the debate.

rwe2late's picture

 GMad Scientist

One may well question your choice of BFs.

For whose interests do you think US and foreign governments serve?

What do you think is the primary business of the US State Dept.? (Hint: it's not diplomacy).

Who bribes and empowers US and foreign politicians? (Hint: read the latest article about Walmart/Mex),

Is there a profit motive pushing the rise and expansion of a global Pentagon?

Organizations matter. In a corporation, individuals are promoted, rewarded, and punished according to how well they serve the corporation and its hierarchy. Corporations are the apex organizational form of a monetary profit-driven economic order. They are secretive and autocratic. They are organized around a singular goal to which all other interests are subordinated. They best profit by disregarding human and all life forms, as well as the earth's environment. The more they can pollute, the less they pay workers, the less they pay for worker health and safety, the more they avoid taxation or any social cost, the more they can transform living creatures into factory commodities, however abusive, the greater the corporate profit. The larger and more powerful, the more unchecked, the worse the abuse.

Zero Debt's picture

Random or not, once you go full retard with a baseball bat, you're going to hit something, ultimately.

Theta_Burn's picture

Argentina's biggest export is FOOD.

Hey dipshit central you may not want to press this to much

Arnold Ziffel's picture

who needs food theta?...just put a little Ranch dressing on your iPad and there you go!

AurorusBorealus's picture

Much of their exported food goes to China.  Eurodisney can push the issue all they want.  Just as China is not going to stop purchasing oil from Iran, they are also not going to stop purchasing soy from Argentina.  Europe has 2 real options.... 1) pound salt 2) invade South America with their mighty navy.  LOL.

Buckaroo Banzai's picture

Maybe, if you count soy as food.

KandiRaverHipster's picture

implying south america has all of the imports it needs

hedgeless_horseman's picture



Complain in one hand, pump oil into the other, and tell me which one fills up first and will run an engine

Dr. Engali's picture

What a bunch of crybaby little bitches.

Arnold Ziffel's picture

I'd still rather own Walmart stock opposed to putting my money with ANY fund like MFGlobal....

evolutionx's picture

the news about

Bank Credit Default Swaps

good and rare overview

carbonmutant's picture

Self Interest Bitchez...

GMadScientist's picture





midgetrannyporn's picture

Because Argentina cares so much about what jolly old europe wants?

JustObserving's picture

If Europe does not want to trade with Argentina, China will. Argentina is like 0.5% or smaller than world's GDP.  The Europeans chose a gnat to smash. Must be desperate times for Europe.