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Re: Argentina is running 40% inflation this year.

By: killthecat in FFFT3 | Recommend this post (0)
Thu, 02 Oct 14 5:33 AM | 44 view(s)
Boardmark this board | Food For Further Thought 3 		Msg. 02941 of 65535
(This msg. is a reply to 02934 by keystone)
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We used to think whale shit was the lowest thing on earth because it was found on the bottom of the ocean. Then along came vulture hedge funds.....

More than 130 developing countries have called on the UN to stop so-called vulture funds undermining debt restructuring deals like those at the centre of Argentina's US court battle.

The Latin American country slipped into default in July after losing a long legal battle with hedge funds that bought its debt at rock-bottom prices during Argentina's financial crisis and then rejected the terms of debt restructurings in 2005 and 2010, pursuing the country through the courts to get full repayment.

http://www.theguardian.com/business/2014/sep/02/un-swoop-vulture-funds-debt-crisis-argentina

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The above is a reply to the following message:
Argentina is running 40% inflation this year.
By: keystone in FFFT3
Thu, 02 Oct 14 3:54 AM 		Msg. 02934 of 65535

The peso is collapsing. The IMF has warned them that their government numbers are not reliable.

Argentina is no stranger to default. It is no stranger to taking on debt.
The vulture funds are looking for less than two billion dollars. Argentina defaulted on 100 billion dollars.

The vulture funds are not at fault for Argentina's misery.

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