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Argentina's Fernandez to meet billionaire investor Soros in New York
Argentine President Cristina Fernandez on Monday will meet bondholder and billionaire financier George Soros, who is suing a U.S. bank caught in the middle of the country's latest debt default, a government minister said.
The meeting comes as Fernandez's leftist government struggles to kick-start growth and contain runaway consumer prices after failing to complete a June interest payment to Soros and other holders of bonds restructured after a previous default.
Soros' portfolio also includes a 3.5 percent stake in Argentina's state-controlled energy firm YPF (YPFD.BA). Buenos Aires has frequently cited the Hungarian-born magnate's investments in the country as a signal of investor confidence in the $490 billion economy.
So you can imagine my utter shock on Monday when it was announced that Cristina Fernandez de Kirchner, one of the strongest candidates for culprit numero uno of putting in place unsustainable trends that should be reversed sooner rather than later, was to meet with George Soros in New York. Cristina is in New York for the UN meeting to seek support in resolving the technical default brought about by the infamous “vulture” funds.
Soros himself is exposed to Argentina, and has skin in the game. He holds restructured bonds, as well as a 3.5% stake in YPF, Argentina’s state-controlled energy company. Soros’s hedge fund Quantum Partners is one of four creditors that sued Bank of New York Mellon in London last month for obeying US Judge Griesa’s stay forbidding that they process the payment from Argentina to holders of restructured debt. In other words, as a holder of said restructured debt, Quantum Partners would quite like to get paid.
According to Soros spokesman Michael Vachon, Kirchner and Soros “discussed a range of topics, including the prospects for Argentina’s economy, recent positive developments in Argentina’s energy and hydrocarbons sector, and drug policy reform in Latin America”.
It is fairly clear what Cristina gets out of the association. Support from an evil hedge fund, who conveniently happens to be on her side in this matter, in her crusade against evil vulture-type hedge funds who aren’t, as well the ability to continue citing Soros’s decision to invest in Argentina as a signal of investor confidence in the economy.
What couldn’t be less clear to me is how in the world George Soros, the same George Soros who has bent emerging market governments backwards forcing them to enact structural reforms, promote transparency, and put in place investor-friendly tax and legal structures, could sit next to Cristina and associate his face and reputation with the idea that investing in Argentina under Cristina’s Kirchinerism is a savvy idea.
Soros Signals Argentina’s Shale is Biggest Place to Be
George Soros has doubled his stake in YPF SA, the state-owned oil company in Argentina, which sits atop some of the world’s largest shale oil and gas resources, and is about to get even larger following a new discovery over the last couple of weeks of a second key shale play.
George Soros Invests Big In Fracking Company Despite Funding Green Groups
08/15/2014
Catholic League claims Catholic political groups are financed by George Soros
Oct 20, 2008 / 10:19 pm (CNA).- The Catholic League’s president Bill Donohue has come out swinging at Catholics in Alliance for the Common Good and Catholics United for having ties to the left-wing financier George Soros.
Donohue charges that Soros’ liberal credentials couldn’t be more clear, citing a 2005 campaign by Soros-financed Moveon.org to convince Americans that they should back Democrats efforts to filibuster President George W. Bush’s judicial nominees to the Supreme Court.
At the time of Moveon.org's effort Donohue described it in a statement as: “a picture of a smiling Pope Benedict XVI holding a gavel outside the U.S. Supreme Court, along with the following inscription: ‘God Already Has a Job…He does not need one on the Supreme Court’.”
On June 5, 2012, financial police in Piacenza, Italy, searched the home of Ettore Gotti Tedeschi, who was the target of a money laundering investigation.
Until just a few weeks earlier, he had headed the Popes' secretive organization for dealing with the world of Mammon, called not without irony the "Institute for Works Religious," since it operates as an off-shore bank that is beyond the laws and regulations of Italy, the European Union, or any other authority.
The raid uncovered a secret dossier that included 47 binders of Vatican documents, some of which exposed the Vatican Bank's loopholes for laundering money, arrangements for discreet accounts, and a note instructing that these documents be delivered to a lawyer and the media if anything foul happened to Tedeschi. As it was reported in the Italian press, he had feared for his life because the some of the secret accounts serviced individuals in the Mafia and other criminal organizations.
Thirty years earlier, the body of Roberto Calvi, known as "God's Banker" because of his work for the Vatican bank, was found hanging under Blackfriars bridge in London, a well-organized murder which was never solved.
The new Pope Francis is clearly a well-intentioned man. But all his austerity measures, personnel changes, and efforts at transparency will do little to change its century-old insolvency problem. Now, more than ever, the Vatican needs money.
originally posted by: MotherMayEye
I hope this thread hasn't fizzled out. My grandma died last Thursday and I have been away for the funeral.
I noticed this article on Obama 'handcuffing' border patrol in Arizona and felt like it should go here: Link
It's not a shock to me that officials along the border are completely corrupt from the top down.
originally posted by: MotherMayEye
I hope this thread hasn't fizzled out. My grandma died last Thursday and I have been away for the funeral.
I noticed this article on Obama 'handcuffing' border patrol in Arizona and felt like it should go here: Link
It's not a shock to me that officials along the border are completely corrupt from the top down.
originally posted by: MotherMayEye
I hope this thread hasn't fizzled out. My grandma died last Thursday and I have been away for the funeral.
I noticed this article on Obama 'handcuffing' border patrol in Arizona and felt like it should go here: Link
It's not a shock to me that officials along the border are completely corrupt from the top down.
originally posted by: MotherMayEye
I hope this thread hasn't fizzled out. My grandma died last Thursday and I have been away for the funeral.
I noticed this article on Obama 'handcuffing' border patrol in Arizona and felt like it should go here: Link
It's not a shock to me that officials along the border are completely corrupt from the top down.
Neither Obama nor Republican establishment figures have indicated a willingness nor a desire to conduct an independent investigation into Scalia's death. Whether this is by design or by happenstance is anyone's guess.
Certainly, with Obama, there was no love lost between the two. In fact, the president declined to attend the Justice's funeral, a bitter partisan snub that many Washington insiders decried.
Could it be there are unpleasant details or unseemly connections these insiders don't want revealed?
Republican presidential candidate Donald Trump and political commentators have declared that Scalia's death looks suspicious, and many believe there should be an investigation. Whether or not this will come to pass may hinge on who's ultimately elected in the fall.
originally posted by: IAMTAT
I felt this was one of the best threads ever on ATS...at least in my own experience. What I learned from all of you has convinced me of a major conspiracy...and has changed the way I look at many of the players associated with this event.
Thank you.
originally posted by: IAMTAT
I felt this was one of the best threads ever on ATS...at least in my own experience. What I learned from all of you has convinced me of a major conspiracy...and has changed the way I look at many of the players associated with this event.
Thank you.
originally posted by: IAMTAT
a reply to: LadyGreenEyes
Glad you're here, Lady GE. Your insight will be valuable here.