This is taxpayer's money, farmer's money and supporter's money. The most ridiculous and bizarre Irony is that this money is going to be helping Argentina to survive, which is realistically enabling Argentina to take over USA farmer's soya bean and beef market in China at the expense of Trump's own base and people. How illogical is that? Can anyone see any other reason besides, should I say, just for the kickbacks of bribes feathering the nest of those that supported the deal? There is perhaps another undisclosed and discreetly reason for letting small farms to collapse, so that the big farming goliath can take over cheap land to expand. Most of the super-rich like Bill Gates are said to be investing heavily in agriculture, so figure that out.
I guess it is a case of making hay while the sun shines for those dictating the policy of the dying empire. When the music stops, it will be so much fun to watch. Oh, forget about the shutdown, which is just a show. Hope Nancy Pelosi is still awake enough to enjoy the beautiful sight to behold eventually, LOL.
Anonymous
I just am beginning to understand why and what was the reason for Trump, actually it was Scott Bessant's idea to bail out Argentina, although he does not want to call that a bailout. USA is basically using US$ to buy Argentina's worthless Peso, a move that defies logic. But there is an agenda behind the move hatched by Scott Bessant. Scott Bessant may be a billionaire, but greed has no glass ceiling.
ReplyDeleteScott Bessant is discreetly helping his old acquaintances, like George Soros and other hedge fund owners that have invested heavily in Argentina bonds that are slipping into the sewers. This move is supposed to stabilize the Argentina Peso as well, but the nitty gritty of the move is beyond my comprehension.
Scott Bessant is no humanitarian, having tried to cripple countries during his term as hedge fund manager with George Soros. George Soros, probably through Scott Bessant, lost his pants trying to upend the Hong Kong economy in 1998, by attacking Hong Kong's financial system. Many also could not fathom how Scott Bessant could lose a couple of billions managing his own hedge fund. The man is no Warren Buffet for sure.
You have to believe that Scott Bessant is not helping to save Argentina but trying to save other interest groups. The money was to be drawn from the USA Exchange Equalization Fund, of which Scott Bessant has full authority, Argentina is a basket case and giving bailouts is more like throwing good money after bad.
At this juncture after the bailout, and mid-term election, which the bailout is supposed to do, the Argentina Peso and bond market are in jubilant mood, but the underlying economic condition is still mired in quicksand. Argentina had been given bailouts galore by the IMF in the past but still failed to extricate itself from its economic woes. This will again be just temporary relief.
Argentina owes the most money to the IMF and has been called a 'serial defaulter' over its loans many times, with bailouts galore. Argentina could be called a classic case of a country falling into a debt trap. Therefore, the interest of the IMF also figured in the current US$40 billion bailout, otherwise the IMF will have to suffer massive losses if Argentina collapse totally. Remember that Argentina is a hardcore supporter of dollarization, not de-dollarization, so it figures.