Is Argentina Lying About The True Amount Of It's Reserves?

[Joe]

http://www.zerohedge...d-reserves-data

[font=Lucida Grande']JPMorgan notes in a rather aggressive note, a local press article sheds [/font]doubts over Argentina's 'honest' reporting of international reserves[font=Lucida Grande']. Though long used to the lies about inflation (that [/font]ended up with the economy minster being fired[font=Lucida Grande'] and it [/font]being deemed 'illegal' to tell the truth[font=Lucida Grande']), JPMorgan blasts that during a balance of payments crisis - as Argentina is undergoing - [/font]such manipulation of official statistics (and one so critical for market sentiment) is detrimental to the needed confidence building[font=Lucida Grande'] around the transition in the FX regime and is [/font]"a very very bad idea"[font=Lucida Grande']. Simply put, Argentina is over-stating its reserves... considerably.[/font]

 

[thorsten]

Interesting article Joe, thanks for posting. Not sure about the answer, but a little remark: your topic is formulated exactly opposite to the poll question, so people that don't read the question of the poll might give you another opinion

 

[ajoknoblauch]

Before deciding my opinion, I'm waiting to hear from INDEC.

 

[Joe]

Interesting article Joe, thanks for posting. Not sure about the answer, but a little remark: your topic is formulated exactly opposite to the poll question, so people that don't read the question of the poll might give you another opinion

Thanks, I revised the poll question. Excellent input!

 

[Joe]

I answered "I don't know" because the article seems unconvincing to me and secondly JPM has almost less credibility than the Argentine government.

I do expect a majority to answer yes however, because people just assume the government lies about everything. Since the inflation numbers are universally acknowledged to be a bald faced lie, people don't trust any of the economic figures.

 

[thorsten]

I'm also in the "dont know" camp, but regarding the article: I guess the original source is this article in La Nacion: http://www.lanacion....or-las-reservas

 

[wineguy999]

My first thought on reading the title of this thread: If Xtina's involved, there's a lie in there somewhere.

 

[ajoknoblauch]

My first thought on reading the title of this thread: If Xtina's involved, there's a lie in there somewhere.

There are plenty of liars in Cristina's government but, to give her the benefit of the doubt, I think she's simply confused by complexity.

 

[Rich One]

The subject is too complex for amateurs, what Reserves are available? etc. Economists disagree. The internal debt to ANSES etc how is acounted for?

 

[EdRooney]

The subject is too complex for amateurs, what Reserves are available? etc. Economists disagree. The internal debt to ANSES etc how is acounted for?

C'mon Rich, since when has our collective amateur status ever stopped us from jumping to wild conclusions and making galloping assumptions?