Posts Tagged ‘Cristina Fernandez de Kirchner’

Argentina: Cristina aims for The People’s Cube

Tuesday, December 16th, 2014

Oleg Atbashian, the brilliant graphic artist of The People’s Cube, might call it prog porn; Carlos Eire titles it Sieg Heil, Cristina! Hitler, Stalin, and the dark sources of Latrine American inspiration instead.

You choose, comrade:

Cristina Fernández de Kirchner,

Joseph Stalin,

In case you wonder, “wasn’t Cristina’s idol, Eva Perón, sheltering Nazis in Argentina?“,

Cristina Fernandez de Kirchner, the country’s first female president, said women of her generation owed a huge debt to Peron for her ‘example of passion and combativeness.’

Carlos has the artwork on that, too.

After all, in case you need a reminder, The Nazis were socialists…

Argentina: Jorge Lanata will petition US Court re: Cristina’s US businesses

Tuesday, November 11th, 2014

The headline is less tactful,
Argentinean Journalist to file petition in U.S. Courts to obtain information about Cristina Kirchner’s money laundering operations

Last night, Argentinean renowned investigative journalist Jorge Lanata announced he is planning to submit an application for an order for discovery pursuant to 28 U.S.C. § 1782 in a Nevada District Court, aiming to obtain information related to President Cristina Kirchner’s companies in the United States.

Section 1782 of Title 28 of the United States Code is a federal statute that allows a party to a legal proceeding outside the United States to ask an American court to obtain evidence for use in the non-US proceeding. The full name of Section 1782 is “Assistance to foreign and international tribunals and to litigants before such tribunals”.

For the last two years, Jorge Lanata has been conducting an investigation known as the “Kirchner Money Route”, through which he demonstrated that Kirchner cronies were laundering millions of dollars coming from corrupt activities through a vast networks of shell companies and shady financial institutions in Argentina, Uruguay, Panamá, Switzerland, Seychelles Islands and the U.S., among others.

This investigation was then used by NML Capital Ltd., a hedge fund who holds a judgment against Argentina for more than $1.7 Billions (see NML Capital Ltd. vs. Republic of Argentina), as the main source of evidence to produce information about 123 companies in the State of Nevada that may point to the location of Cristina Kirchner’s assets in the United States and abroad. NML Capital Ltd. was able to depose a key witness to the “K-Money Route”. However, that deposition is being sealed by the request of the parties.

In Spanish, Lanata’s Sunday show.

More on NML bond holdouts:
A New Twist in the Argentine Debt Saga

But Dart’s legal complaint draws attention to something that had been overlooked as the talks progressed: The so-called Gang of Five—the five holdouts at the center of Singer’s legal case: Singer’s NML Capital, Aurelius Capital, Blue Angel Capital, Oliphant, and a small group of retail investors—hold only about a quarter of all the New York bonds held by holdouts. In addition to Dart, there are approximately $2.4 billion worth of bonds out there that are governed by New York law and in the hands of other holdout investors. The minute Argentina settles with Singer’s group and the bondholder payments are allowed to flow through, all the other holdouts will likely rush forward to Judge Thomas Griesa’s court, demanding the same legal rulings and the same terms, which could block the payments again. The default could be cured temporarily, but then Argentina would be right back where it started.

NML Capital Ltd. can’t force an Argentine lawyer to remain in the U.S. for questioning, a Washington judge ruled

NML sought an emergency court order last week barring attorney Cesar Guido Forcieri, a former World Bank director, from returning. There’s no reason NML can’t question Forcieri when he gets to Argentina, U.S. District Judge Royce Lamberth said in a one-page order issued Nov. 6 and made public today.
. . .
Forcieri is a close associate of Argentine Vice President Amado Boudou, NML said in court papers. Boudou was indicted in June by an Argentine federal court on corruption charges related to his alleged involvement in acquiring a bankrupt printing company, Ciccone Calcografica SA, that later won contracts to print the nation’s currency.

Boudou was initially indicted with five others. In September, an Argentine judge indicted Forcieri for his alleged role in helping to steer business to Ciccone. If Argentine courts find Boudou guilty, the country may confiscate any profit, funds or property employed in the takeover scheme, according to NML’s lawyers.

Until last month, Forcieri served in Washington as a World Bank director for Argentina, Bolivia, Chile, Paraguay, Peru and Uruguay. He worked with Argentina’s Ministry of Economy and Public Finances as a G-20 finance deputy from 2010 until March, according to a profile on LinkedIn.

NML served Forcieri with a subpoena on Sept. 10 seeking documents regarding his involvement in the alleged Ciccone scheme. The Argentine lawyer failed to appear for a deposition on Oct. 20, NML said.

This ain’t over yet, not by a long shot, no matter what the SCOTUS ruled.

Argentina: What do Pope Francis and George Soros have in common?

Tuesday, September 23rd, 2014

Answer: Cristina is praying to both of them in her fight to avoid paying at all costs.

Since Argentina’s demotion to “unclassified market” status due to stringent capital controls kicked it off the FTSE’s frontier equity index, Cristina’s playing footsie elsewhere.

Enter Pope Francis, George Soros, and Ban Ki-moon.

Pope Francis meets Argentine President Cristina Fernandez de Kirchner, at the Vatican, Saturday, Sept. 20, 2014. (AP Photo/Tony Gentile)©AP

Pope Francis and Argentine president Cristina Fernandez met at the Vatican during the weekend

Argentina appeals to a higher authority in fight with creditors

In New York,

Cabinet chief Jorge Capitanich gave no details on what Fernandez and Soros would discuss. Local media reported Fernandez would be looking to shore up support for her unflinching stance against a small group of investors whose decade-long debt row with Argentina triggered July’s default.

Fernandez is in the United States ahead of the United Nations General Assembly, as relations between Buenos Aires and Washington sour over the role a U.S. court played in Argentina’s debt saga.

“Today’s international agenda begins with a meeting with U.N. Secretary General Ban Ki-moon and also George Soros,” Capitanich told reporters.
. . .
Soros’ Quantum Partners hedge fund is one of four creditors that sued BNY Mellon in London last month, accusing the trustee agent of protecting its own interest by obeying the court.

I’m not sure what the hey does the Pope have to do with any of this, but you can do great shopping in Rome on a weekend trip.

While Cristina travels in style, the Argentinian government does not have a strategy to solve its domestic economic problems.

Argentina: Cristina gives bondholders the raspberry

Friday, August 1st, 2014

As I predicted,
Argentine Leader Defies Wall Street for Main Street
Argentines awoke Thursday to find their country was once again a financial pariah after the populist President Cristina Kirchner stared down Wall Street hedge funds and pushed her country into its second default in 13 years.
Very little downside for her, since

Her refusal to settle with bondholders owed $1.6 billion could prove politically expedient in the short term: It distracts from Argentina’s slowly crumbling economy and shores up her support among many working-class Argentines who form the base of her Peronist movement, economists and analysts say.

Higher inflation, deeper recession?

Here in this sprawling capital, Argentines reacted with a mix of pride and disinterest. Pride because Mrs. Kirchner stood up to foreigners, mostly Americans and Wall Street, and disinterest because unlike the country’s record $100 billion default in 2001, this one doesn’t mean Argentina is suddenly broke and on the verge of financial collapse.

It’s all about power, folks.

UPDATE:
Stop spouting ‘half truths’ over default, US judge tells Argentina
South American country’s reaction to second default in 12 years does not alter the fact it has to pay what it owes, judge says


Argentina: Pay up, Cristina

Thursday, July 3rd, 2014

Argentine Consensus Emerges: Pay Off Debt
Argentines, Business Groups and Ruling-Party Lawmakers Say the Government Should Settle Its Bondholder Debt

“The solution is to reach an agreement, and an agreement obviously means paying,” Daniel Scioli, governor of Buenos Aires province and a leading figure in Mrs. Kirchner’s Peronist movement, said in a recent televised interview.

I would not be at all surprised if she decides to default.


Nestor fever #PoneleNestorATodo: Tympanoctomys Kirchnerorum UPDATED

Sunday, May 4th, 2014

SANYO DIGITAL CAMERA
“Néstor forever. Stay strong, Cristina”

Néstor Kirchner fever hits Argentina:
Leonardo Míndez is keeping track of all the monuments, streets, public buildings and locations named after Néstor. There are almost a hundred, and counting. His hashtag is #PoneleNestorATodo, or #GetNestorOnEverything

Now: we’ve got 92 Nestor Kirchner at http://ponelenestoratodo.tumblr.com/ Reaching a hundred! #PoneleNestorATodo

There’s even going to be a Néstor Kirchner nuclear power plant after they rename the Atucha II plant. Atucha I is being renamed after Juan Domingo Perón.

Makes you wonder if Atucha I gets to keep the Perón name once Cristina is no longer of this world, but I digress.

Lest you think that Nestor is the new Evita (which, by the way, the day he died graffiti sprang all over Buenos Aires saying “Evita and Nestor, together in heaven”), to the best of my knowledge Evita Perón hasn’t had a rat named after her. Behold, Tympanoctomys Kirchnerorum:

it was dubbed T. kirchnerorum as a tribute to Nestor and Cristina Kirchner for “their efforts in promoting science.”

No irony in that dedication.

UPDATE:
Hilarity ensues,

Argentina: Goodbye, Columbus

Saturday, March 8th, 2014

Cristina Fernandez, in a snit, had a statue of Christopher Columbus taken down and a room renamed in the presidential residence: Carlos Eire describes how the Argentine president lashes out against European colonialism, ignores Cuban colonialism while at the same time redecorating the joint,

In addition to trashing Columbus and demolishing his statue, Kirchner has now renamed the Columbus Room at the presidential palace. The new politically-correct name: “The Salon of Native Peoples.”

“We will henceforth highlight the history that no one would tell us about our culture, and learn about the civilization of native peoples.”

El Periodiquito (the little newspaper) Argentinian paper says she’s obsessed, while Diario Veloz (fast journal) says she doesn’t know what to do with the statue, which was taken down in pieces.

As part of Cristina’s redecoration efforts, she’s lined a hallway in mirrors, the “The Salon of Native Peoples” has a large table with touch screens, and she personally chose during her many trips abroad the textiles and objects for her hotel, Los Sauces, located near the Perito Moreno Glacier.

It’s stuff like this that keeps me blogging, folks. You just can’t make it up.

CELAC: Maduro & Cristina want Puerto Rico’s independence

Monday, January 27th, 2014


Sayonara, suckers.

Puerto Ricans’ opinions don’t matter to the tinpot Venezuelan dictator or to the Evita-wannabe, because they need a distraction from driving their own countries to ruin:
Crises Squeeze Two Latin Leaders
The leaders of Argentina and Venezuela were set to attend a conference in Cuba to debate Puerto Rican independence on Tuesday, as their countries faced their most acute economic crises in a decade.

On the streets of Argentina and Venezuela, many asked what their leaders were doing in Cuba when they were struggling with Latin America’s highest rates of inflation and the palpable fear that things could worsen when private investment is veering toward a recovering American economy.

The fact is,

independence for Puerto Rico, which was handed over by Spain after the Spanish-American war, has never gotten much traction. In a 2012 referendum, 61% voted for statehood and only 5% for independence.

Puerto Rico’s independence party has such low turnout that they needed to re-register after general elections.

Not that democracy matters to anyone at the upcoming CELAC

Apparently, the first objective of that organization, as declared, is: “To reaffirm that the preservation of democracy and democratic values, the validity of the institutions and the Rule of Law, a commitment to the respect for, and the validity of, all human rights for all, are the essential objectives of our countries.”

What do these people understand democracy to be? Cuba, like the other countries hatched by the now-extinct Soviet Union, is a one-party dictatorship older than half a century where no individual freedoms exist and no human rights are respected. While the CELAC is being held, the political police harasses and bashes the Ladies in White and the opposition democrats who dare to protest. Is anyone unaware of this?

Cuban dissidents are holding their own forum:

Cuban dissidents and activists plan to hold a forum on democracy in Havana on Jan. 28, parallel to the Summit of the Community of Latin American and Caribbean States, or CELAC, opposition sources told Efe on Saturday.

Organized by the Center for the Opening and Development of Latin America, or CADAL, and the dissident group Arco Progresista, the forum hopes to bring together members of the opposition like Guillermo Fariñas and Jose Daniel Ferrer, Ladies in White leader Berta Soler, blogger Yoani Sanchez and activist Antonio Rodiles, among other representatives of civil society on the island.

Cuban police will block the opposition’s meeting.

OAS Secretary General Jose Miguel Insulza is attending CELAC, but refused to meet with any dissidents, thereby offering further evidence of the OAS’s irrelevance.

Elsa Morejón, whose husband Dr. José Daniel Ferrer, leader of the Patriotic Union of Cuba (UNPACU) was arrested after meeting with the ambassadors of Spain and the Netherlands this week and transported away from Havana for the duration of the summit, tweeted,

The only country in the Americas without free elections or multi-party [system] in 56 years, will host the #CELACSummit. Unbelievable.

But look at the bright side: The more Maduro, Cristina, and their ilk cackle about Puerto Rico, the fewer the Puerto Ricans who’ll side with them.

Post re-edited to add links.

UPDATE:
My tweet,
#CELACSummit As if there isn’t enough poop in #PuertoRico, @NicolasMaduro & @CFKArgentina want to bring theirs.

RELATED:
Puerto Rico: La crisis final del “ELA”

Argentina: Chronicle of a default foretold

Friday, January 24th, 2014

Subroto Roy sent this article, Argentine Default Chaos Relived as Blackouts Follow Looting, which describes the deja-vu conditions as the country is about to default, again, this time on its $50 billion foreign currency obligations,

Investors are bracing for the possibility of another default. The country’s average dollar bond yield of 12.4 percent is the highest among major developing nations after Venezuela. Trading in swap contracts that insure bonds shows investors see a 79 percent probability of a halt in payments over the next five years, a reflection in part of concern that Singer’s demand of full repayment on the securities he kept from the 2001 default will disrupt debt servicing.

“Over the next five years”, maybe, maybe earlier, as the Specter of Default Stalks Argentina. Argentina’s dollar reserves have now slipped below $30 billion.

Yesterday’s 8% devaluation (the largest one-day decline since the 2002 country’s default on its debt)

and falling reserves raise the specter of a deep economic crisis with inflation already believed to be running above 25% before the devaluation, the product of years of rapid increases in government spending financed in part by money printing. A weaker currency can aggravate inflation by reducing consumers’ purchasing power and pushing up the cost of imported goods.

The devaluation is also a major political blow to Mrs. Kirchner and her new economic team led by Mr. Kicillof. Shortly after her ruling coalition suffered a steep drop in support in October’s midterm congressional elections, Mrs. Kirchner replaced her finance minister, central bank chief, price control enforcer and economy minister. Less than a year ago, the president told the public it shouldn’t expect a devaluation under her watch.

Cristina Fernandez’s chief of cabinet Jorge Capitanich rushed to put lipstick on a pig, easing restrictions on the purchase of U.S. dollars Friday, by saying “The government considers that the price of the dollar has reached a level of convergence that is acceptable with the objectives of our economic policies.”

And the economy is pining for the fjords,

UPDATE:
As a result of government price-fixing, Argentinians bought less bread and more cookies in 2013. The price of flour went up by 65%.

A parting question: Where’s Cristina?

Argentina: Where’s Cristina?

Friday, January 17th, 2014

Remember when Hugo used to absent himself?

Concern after Argentina’s president long silence

As of Thursday, it had been 37 days since she last spoke in public. And she hadn’t posted any messages to Twitter since Dec. 13, when she fired off a typical volley of 20 tweets.

That has been feeding speculation in Argentina about her health in the wake of surgery on her head in October, and questions about who is running the country.

Fernandez made her last public appearance on Dec. 10. Three days later, she made her last comments on Twitter criticizing a protest by police.

Her last official photograph was taken on Dec. 19 at a meeting held at an Islamic center.

Cristina’s scheduled to attend the Community of Latin American and Caribbean States on Jan. 28 in Cuba, and the Mercosur meeting on Jan. 31 in Venezuela.

If she doesn’t make it, Uruguayan president José “Pepe” Mujica won’t be able to hitch a plane ride to those events.