Argentina In The Muck With Banksters: Where Is My Money!

A BNY Mellon sign is seen on their headquarters in New York's financial district
Argentina’s mud-fight to survive the “vulture capitalists” during this global debt and banking monetary crisis, in on the global stage.
The problem is worldwide and many key battles are in various regions, however I am fascinated with Argentina.
LIBOR rigging scandal, Argentina sues a Dutch bank, High Courts, and many others are involved, which leads me to think this has secrets, hidden agendas, and is so muddled that it is not going away quietly.
Behind the troubles, there are lawsuits from Soros et al trying to recover monies owed to them, a American judge, Thomas Griesa, interferes and arbitrarily rules in favor of a NY Vulture hedge fund… This legal battle has been ongoing from 2012, the ruling is being reviewed by the supreme court, but politicians, agents and attorneys are not waiting for the U.S. Supreme Court’s ruling and acted immediately and brought in London’s High Court, and Argentina’s government enacting new legislation. ~Ron

Bank of New York Kicked Out of Argentina

August 27, 2014

Argentine Chief of Staff Jorge Capitanich announced in Tuesday morning’s press conference that the Central Bank’s Superintendant of Financial and Exchange Entities has revoked the operating license of the Bank of New York-Mellon, denying it the ability to maintain a branch in the country.

The Superintendant’s Resolution 437, dated Aug. 25, states that BoNY has not carried out any “active operations, nor have there been any active operations since December of 2012.” It has also failed to offer financing or other financial services to any resident of Argentina since January of 2013 to date, thus not meeting the requirements demanded of any foreign bank operating in the country.

The government bill proposing to open a new voluntary debt swap to restructured bondholders under Argentina law, to be debated in the Senate on Aug. 27, also authorizes the Finance Ministry to “take necessary steps” to remove BoNY as the country’s trustee bank for the 2005 and 2010 debt restructuring. BoNY violated the terms of the restructuring contract, by failing to pay bondholders on the June 30 deadline, despite the fact that Argentina deposited $539 million in BoNY’s account for that purpose on June 27.

Capitanich also pointed out that a group of hedge funds, including George Soros’s Quantum Partners and Kyle Bass’s Hayman Capital, has filed a lawsuit against BoNY in London, demanding a 226-million-euro interest payment, blocked by New York Judge Thomas Griesa last month. The New York Times reported Tuesday that the plaintiffs argue that, since the interest payment they are owed is governed by British law, Griesa has overstepped his jurisdiction in blocking their payment.

— Argentina’s Proposed New Debt Swap Can Work Very Well, Hedge Fund Manager Says —

[Emphasis added for our discussion. ~Ron]

David Martinez Guzman, owner of the Fintech Advisory hedge fund, which reportedly holds hundreds of millions in defaulted Argentine bonds, is confident that the Fernandez de Kirchner government’s proposed plan for a new debt swap, governed by Argentine law, could work very well. It would provide the government with “an orderly mechanism that would isolate the judge” Thomas Griesa, and “reestablish the order and chain of payments,” to creditors which have been interrupted by the New York judge.

Martinez, whose Fintech participated in both the 2005 and 2010 debt restructurings, told the daily Pagina 12 in an interview published Aug. 24, that the new plan “is a correct way for Argentina to reassert control over its financial matters, rebuild the payments chain for the restructured bonds,” and isolate Griesa and the vultures. There are many investors willing to do business under Argentine law, he said, because “Argentina’s solvency and willingness to pay are undeniable…. There’s nothing that Griesa can do about an issuance of internal debt in Argentina, to which there are no market obstacles.”

He pointed to the fact that Argentina has begun making payments on its defaulted debt to the Paris Club; it has issued bonds to pay the Spanish oil firm, Repsol, as well as to others who won suits against it at the World Bank. But it drew the line at extortion, Martinez said. Griesa’s rulings “hurt all of us who had valid [restructuring] contracts. By breaking those contracts, the judge universalized the litigation, and he doesn’t have the right to do that to bondholders who signed agreements in London, Brussels or Tokyo” who have nothing to do with the vulture funds’s litigation against Argentina in New York.

Martinez stated that Griesa has exceeded his authority and jurisdiction so egregiously, that there’s no guarantee that the Appeals Court will back up his rulings. It did so in his interpretation of pari passu, but now “there are many more victims,” such as European bondholders. “To propose stopping Argentina from reestablishing relations with all the hold-ins, through the issuance of domestic debt, is going too far,” he warned.



Want Worldwide PEACE and Prosperity. We are the solution we have been searching for... Free People on Earth will solve our crisis and create an era of Creativity. Be Aware; Be Creative; Be Active; Be Free; and then Share it. LOVE & Wholeness AMOR y Paz

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3 comments on “Argentina In The Muck With Banksters: Where Is My Money!
  1. RonMamita says:

    This is the Banksters’ Racket that all governments have entered into, Argentina is part of that criminal system:

    [audio src="" /]


    …series of recordings of internal telephone conversation from September 2008 between Anglo Irish bank executives


  2. RonMamita says:

    The Geopolitics of World War III

    Sep 11, 2014
    The real reason Russia and Syria are being targeted right now.

    Contrary to popular belief, the conduct of nations on the international stage is almost never driven by moral considerations, but rather by a shadowy cocktail of money and geopolitics. As such, when you see the mouthpieces of the ruling class begin to demonize a foreign country, the first question in your mind should always be “what is actually at stake here?”

    For some time now Russia, China, Iran, and Syria have been in the cross hairs. Once you understand why, the events unfolding in the world right now will make much more sense.

    The U.S. dollar is a unique currency. In fact its current design and its relationship to geopolitics is unlike any other in history. Though it has been the world reserve currency since 1945 this is not what makes it unique. Many currencies have held the reserve status off and on over the centuries, but what makes the dollar unique is the fact that since the early 1970s it has been, with a few notable exceptions, the only currency used to buy and sell oil on the global market.

    Prior to 1971 the U.S. dollar was bound to the gold standard, at least officially. According to the IMF, by 1966, foreign central banks held $14 billion U.S. dollars, however the United States had only $3.2 billion in gold allocated to cover foreign holdings.

    Translation: the Federal Reserve was printing more money than it could actually back.

    The result was rampant inflation and a general flight from the dollar.

    In 1971 in what later came to be called the “Nixon Shock” President Nixon removed the dollar from the gold standard completely.

    At this point the dollar became a pure debt based currency. With debt based currencies money is literally loaned into existence.

    Approximately 70% of the money in circulation is created by ordinary banks which are allowed to loan out more than they actually have in their accounts.
    The rest is created by the Federal Reserve which loans money that they don’t have, mostly to government.

    Kind of like writing hot checks, except it’s legal, for banks. This practice which is referred to as fractional reserve banking is supposedly regulated by the Federal Reserve, an institution which just happens to be owned and controlled by a conglomerate of banks, and no agency or branch of government regulates the Federal Reserve.


  3. RonMamita says:

    Wow, Argentina!

    Argentina’s Pres. Cristina Kirschner, called out the U.S./money cartel/financial Terrorists!
    …police warned her about supposed plots against her by Islamic State activists.

    “So, if something happens to me, don’t look to the Mideast, look north” to the US, Kirchner said at Government House.

    Just hours after the U.S. embassy here warned its citizens to take extra safety precautions in Argentina, an aggravated Kirchner said “when you see what has been coming out of diplomatic offices, they had better not come in here and try to sell some tall tale about IS trying to track me down so they can kill me.”


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