Bono Argentino!??!!?

[shoush]

I'm trying to understand this new law to be passed, but my husband isn't home and as much as i speak spanish and don't think i understand everything, i want to know, how does this affect us? the dollar? positive or negative?
the breakdown i got, was that people that have undeclared money outside of Argentina can bring it it and declare it and Argentina will them a bono?!?!?! (not a boner,but a kind of "pagare")
i could be completely wrong with my breakdown! anyone know what hell is going????

 

[Splitty]

Central bank has no USD and grabbing anything they can, even if it is undeclared money or from where ever.
They will change your crisp USD bills you so diligently have hidden away and give you worthless toilet paper for it.
I really don't think they even convinced themselves it would work.

They will kick you back 4% in 2016, but by then they will be long gone with their stolen booty.

 

[shoush]

seems to connect with the case of farina and Baez...or maybe my espanol es tipo Japones

 

[shoush]

Central bank has no USD and grabbing anything they can, even if it is undeclared money or from where ever.
They will change your crisp USD bills you so diligently have hidden away and give you worthless toilet paper for it.
I really don't think they even convinced themselves it would work.

They will kick you back 4% in 2016, but by then they will be long gone with their stolen booty.

thank you fried turkey! i loved your translation

 

[Inferno.]

the breakdown i got, was that people that have undeclared money outside of Argentina can bring it it and declare it and Argentina will them a bono?!?!?! (not a boner,but a kind of "pagare")

I think some people did have a boner while hearing the news, hahaha. Well, the thing is as follow:

- The Central Bank doesn't have money. Argentina is banned from the world so it can't ask for a loan anywhere.
- They launch a bond (bcra and ypf) to collect money. It can't only be bought using dollars. It will pay 8% annually and will expire on 2016.
- The current owner of the bond at that time (bonds trade in the stock market, you can buy it or sell it anytime you want) will collect the face value.
- As they need money to function, they don't care how you got it. So.. you will be able to perform money laundering in a legal way really quick.

They mentionated lazaro because the subject of their investigation is related to this. Now.. for example, he can create a company here (which is a simple process, or use another existing company) and give them I dont know, 100 million dollars that will be used to buy those bonds. As they wont ask how they got it (nor being able to relate him here because he could be a partner of the new society), they will be able to justify 100 million dollars into the company's account. Once the bond is trading in the secondary market (the stock market), they can sell it and have the money back, but this time, it will be legal. They don't need to wait until 2016 to have the money back.

So.. kinda crazy to hear they are doing this move.

 

[nativexpat]

We are all trying to understand. We don't know if it is a joke or what. :wacko:

 

[shoush]

it seems like desperate measures, maybe a crash is soon in the horizon!

 

[Joe]

Maybe K is looking for a way to launder some of her overseas money in the event she can't get the constitution changed. This new law is the perfect vehicle for this.

 

[trennod]

Is it paying 8% cause I thought it was 4%?
I really can't believe this, after all the fuss this govt seems to be making about tax evasion etc etc they go and basically legalising the re entry of money laundered outside of the country back in at a healthy return.

I really think it sounds too good to be true. Stunned.

 

[Inferno.]

Is it paying 8% cause I thought it was 4%?
I really can't believe this, after all the fuss this govt seems to be making about tax evasion etc etc they go and basically legalising the re entry of money laundered outside of the country back in at a healthy return.

I really think it sounds too good to be true. Stunned.

I think they said 4% every 6 months, but I may be wrong.