Fausta's Blog

American and Latin American Politics, Society, and Culture

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

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.

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Uruguay: The dollar doobie

Before you rush to Uruguay to catch a bargain, keep in mind that under the new law it remains illegal to sell pot to children or foreigners, even when the country legalized marijuana:
Growers celebrate as Uruguay prepares to legalize marijuana cultivation, distribution.

They ought to celebrate, since no other country has moved to make the production and mass distribution of marijuana legal.

President Jose Mujica has the support of George Soros, and asserts it won’t be partah-ee time,

“It is not like ‘viva la pepa’ (let the good times roll) and let’s smoke freely and we go to the seaside boardwalk, no, no, no,” said president José Mujica after his meeting with billionaire and philanthropist George Soros last week, who supports the legislation and has offered funding to evaluate the impact of the law.

Mujica, an ex guerrilla fighter, and Hungarian-American magnate George Soros, believe that legalizing the drug would be a strike against drug trafficking, a better way to control drug consumption and an opportunity to help those who suffer any drug disorder or addiction.

Apparently the legal marijuana will be sold in pharmacies for $1 per gram, which should leave room for a black market mark-up of another dollar or so.

“There’s gold in them thar hills”


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Soros profits from MF Global money

Jon doesn’t remember where the money went, but
Corzine’s Loss May Be Soros’s Gain
Investor Places Big Bet on Euro Debt, Buying MF Global Former Holdings

Investor George Soros’s family fund bought about $2 billion of European bonds formerly owned by MF Global Holdings Ltd., the very debt that helped force the securities firm to file for bankruptcy protection Oct. 31, according to people close to the matter.
…
The 81-year old investor, together with his investment team at Soros Fund Management, purchased the bonds for below the market price at the time, in a transaction involving JP Morgan Chase & Co., according to these people. Other large investors also bought some of these European bonds once held by MF Global, according to people close to the matter. A spokeswoman for J.P. Morgan declined to comment.

Mr. Soros’s firm still holds the majority of the positions it acquired, the people said.

Sounds like a bailout in the making…

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Soros, what a guy!

A roundup of trivial news in the periphery of serious issues,

George Soros sued by ex-girlfriend for reneging on real estate promise to buy her a $2 million NYC apartment. George told her he’d given the apartment to another woman. Probably a younger woman, that is. No word on whether he had anything to do with the downgrade.
UPDATE:
Don Surber:

Dr. Evil had the same problem with Frau Farbissina.

Amy Winehouse’s home robbed, not by looters, but by someone looking for her unreleased songs, lyric books and letters.

One Place That Didn’t Get Looted In The UK. Situational Awareness: How Everyday Citizens Can Help Make a Nation Safe. Defend yourself and be a vigilante (h.t Instapundit).

Hugo Chavez’s hair fell off. Argentina Preps for World Tango Championships

Pivot to jobs, jobs, jobs getting to you? Vacay, vacay, vacay! But first, let us pray.

Felonious Monk is not happy at all (*LANGUAGE WARNING: DEFINITELY NOT SUITABLE FOR WORK*)

Here’s Thelonious Monk, not Felonious,

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Soros up and at it, again…

Soros betting on Euro collapse

Let me count the ways George Soros, hedge fund billionaire, has become enriched through his trading "strategies".

Years ago, he broke the Bank of England by wagering against the British pound, pressuring it in such a way that England had to devalue their currency – his first billion-dollar payday. Various ploys over the years enriched him further. Then he made billions by wagering that the housing and mortgage markets would collapse in America – a multi-billion dollar payoff again.

Now he is up to his old tricks again: working with other hedge funds to force the European currency to crack

The other day I was saying that maybe I could recycle headlines from prior decades; add this one to the list.

UPDATE
More at the Daily Mail, via Larwyn,
Man who broke the Bank of England, George Soros, ‘at centre of hedge funds plot to cash in on fall of the euro’

Mr Soros, who made more than $1billion by currency speculation when the pound was ejected from the Exchange Rate Mechanism on Black Wednesday in 1992, believes the structure of the euro is ‘patently flawed’.

He said: ‘Makeshift assistance should be enough for Greece, but that leaves Spain, Italy, Portugal and Ireland.

‘Together they constitute too large a portion of euroland to be helped in this way.’

He believes that unless the European Commission is given sweeping powers over taxation and spending, the single currency will always be vulnerable to financial turbulence in individual states.

Click on the photo for another interesting story (from last year) on Soros.

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“Soros Boo$ts Franken,” says the NYPost

Franken trails Coleman by 216 votes, so the Dems are doing what they always do: send Soros to the rescue.

And Al Gore, too.

SOROS BOO$TS FRANKEN

Left-wing billionaire financier George Soros is using his financial muscle at a Manhattan fund-raiser tonight to help Al Franken win a recount in Minnesota’s Senate election.

Soros – the hedge-fund honcho and sugar daddy of the Democratic Party – will host a soirée for Franken at his Carnegie Hill digs to help cover the candidate’s costs to monitor the statewide recount.

The special guest: Al Gore, who knows a thing or two about recounts.

At last count, Franken trails GOP incumbent Norm Coleman by just 216 votes out of 2.9 million cast. Minnesota yesterday initiated a hand recount that is not expected to be completed until mid-December.

Ed says

Gonna be a long few weeks. Don’t expect much real news until the recount is finished.

Well, I do expect a lot of Soros’s money coming to the rescue.

More from Power Line.

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Premature McCain Derangement Syndrome, drive-through etiquette, and other items

Makings of a Chem Weapon in a hotel near DNC: MSM yawns, and the dead guy had commented that he was a Jihad supporter.

Apparently I’m not the only one ignoring the Olympics: Beijing Is All Dressed Up, But No One Is Going. Gina Cobb asks, why?

Premature McCain Derangement Syndrome: Team Obama blames Georgia on McCain?

Really guys, if you’re going to start blaming everything on McCain, you should at least wait until he takes office.

Condi Rice Presser: Bush Expects Russia to Honor Cease-Fire; US Troops Will Lead Humanitarian Mission
VERY UNDIPLOMATIC: “This is not 1968.”. And so we wait.

The disturbing discoveries of Obama’s connections don’t make Obama less palatable among whites because of skin color, but for cultural reasons. Obama, the metrosexual? And it looks like Soros is funding some of Obama’s Republicans.
And people really want to elect this guy?

Two friends just emailed this: Colin Powell says he’s not going to the Democrat convention. What he didn’t say is whether he’s endorsing Obama or not.

Media Lizzy has a dontgo update.

When Mamacita ain’t happy, ain’t nobody happy: Drive-through etiquette: If you have to ask, it’s probably you.

To get to the drive-through, you’ll need gas, and for free gas, there’s a contest:

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