/biz/ - Business & Finance

>>18330350
they're like the cregs of the central banks.

>>18330350
You could ask the Germans the same thing about Trump.

>>18330367
I don't get it

>>18330350
This was Argentina's stock market when they elected a socialist government at the last election

Never bet on commies

>>18330377
After no one would lend to Trump in the US, Deutche lent him $500 million.
Which he defaulted on.
Then another sub-department of Deutche lent him ANOTHER $500 million, while the first neglected to mention his previous default.
In any case, he was borrowing from Germans because they were desperate for big exposure in the States, he's defaulted enough here that he's untouchable.

>>18330406
And this is it now
doing better than the west

not suggesting commies = good, but commies elected = nothingburger

>>18330422
I guess this is the power of the art of the deal

local bonds

nothingburger

>>18330470
>I guess this is the power of the art of the grift
fix'd
Make Amazing Grifts Again

>>18330350
Daniel la calle es el mayor retrasado que hay en españa. Sonia monroy sabe mas de economia que el

>>18330350
It's not a default (yet), it's a restricted default / selective default on local-low bonds.

As a distressed debt investor, you had several opportunities to make a fortune on Argentine bonds under New York law.

>>18330350
What happens if a group of people become poor and will do anything to survive? They will kill you and steal your shit. Why do you think welfare is a thing? Because the government feels bad for them?

>>18330530
*local-law bonds

>>18330350
Unbelievably, they issued century bonds (100 year maturities) in 2017:
>https://www.forbes.com/sites/kenrapoza/2020/03/30/within-latin-america-argentina-is-surefire-bet-for-hard-default/
They were dollar denominated (to protect against devaluation of the Peso), and they had a coupon rate of 7+% , but even still... this is a country that defaults every 10-20 years, and the longest maturing US Treasury bonds are only 30yrs.

>>18330350
yeah I'm thinking argentina is based

>>18330589
Essentially.
>Borrow money.
>Promise to pay it back in a 100 years (>>18330579).
>Promise to pay 7% interest on it.
>Default 3 years later.
>Laugh at the suckers who trusted you.

>>18330589
It is

>why does the central bank keep giving the government money
gee i dunno anon

>>18330464
Kek the peso lost 120% of its value since the election.
The market going up a little is just the inflation effect in usd terms it's still down.

>>18330699
The chart is in USD from my understanding
and it's -14% from ATH, meanwhile DJI is -23%
and the IAR ATH does not correspond with the pre-corona ATH of DJI, but with the pre-commie ATH which came last year.

I'm just pointing out that the original chart anon posted is shit, and does not actually represent "commie bad", it represents "investors afraid of commie".

And the peso lost "only" 30%?

I get that commie=bad but making shit up is usually shit commies do
apply yourselves

>>18330579
those bonds aren't meant to mature
theyre just a cheap way to incentivise investors to move money by locking in high yields and then trade the bond at higher prices when yields drop

they know traders are always looking for a way to profit even when the trader knows hes buying into a scam

>>18330350
Have you ever been to Argentina and fucked some nice cheap tender Argentina pussy?
>Highly recommend it!

>>18330350
Bvllish

Where should one go to buy credit default swaps on a country ?

>>18330699
>peso lost 120% of its value

>>18331143
Whoa I haven't seen that skank's in over 10 years.

Argies are so arrogant they could be drowning in their own shit and blood and still think they are on top of the dog pile.

>>18330350
they will let loose the secret about a certain someone surviving a certain war otherwise

>>18331225
When you look at the regional competition it's somewhat understandable desu

>>18331316
I disagree. Argentinians believe they won the Falklands war, despite not achieving any of their military goals and suffering horrific losses. They have a special level of delusion that is nearly supernatural.

>>18331115
tell me more about this Anon