K Now Checking Between The Couch Cushions For Spare Dollars

[el_expatriado]

The government just launched a new blanqueo and is looking for dollars wherever they can find them. They're really scraping the bottom of the barrel now, trying to get dollars from money launderers, tax evaders, and drug dealers.

I still don't think they'll have any success. Here's the idea... you give the gov't your dollars today and they don't ask you where they came from and they promise to give them back to you in 2016 with 4% interest. Hmmm.... 2016 right when the Ks leave power and a new government takes over. I wonder whether the new government is going to want to pay up on these tax evader and drug dealer bonds in 2016 when they take over.

The deal only works with dollars, NOT PESOS. So what do you all think is going to happen to the blue rate once this law comes out... anyone who has pesos that they want to blanquear is going to have to buy dollars to get them into this plan. So the blue dollar is going EVEN HIGHER after this becomes law.

 

[ajoknoblauch]

¡Colchones Para Todos!

 

[trennod]

The government just launched a new blanqueo and is looking for dollars wherever they can find them. They're really scraping the bottom of the barrel now, trying to get dollars from money launderers, tax evaders, and drug dealers.

I still don't think they'll have any success. Here's the idea... you give the gov't your dollars today and they don't ask you where they came from and they promise to give them back to you in 2016 with 4% interest. Hmmm.... 2016 right when the Ks leave power and a new government takes over. I wonder whether the new government is going to want to pay up on these tax evader and drug dealer bonds in 2016 when they take over.

The deal only works with dollars, NOT PESOS. So what do you all think is going to happen to the blue rate once this law comes out... anyone who has pesos that they want to blanquear is going to have to buy dollars to get them into this plan. So the blue dollar is going EVEN HIGHER after this becomes law.

But el expatriado these bonds can be on traded, so they are going to have to honour them at maturity. Well, not so much have to, but I am sure they dont want history repeating themselves. Funny though, in 2016 it could just well be someone elses problem (another governments).

 

[syngirl]

This gets my vote for Best Title of a Thread 2013....

 

[trennod]

This is absolutely double standards. On one hand, we have the Ks and their supporters, preaching about how this government is trying to reign in tax evasion, money laundering etc and then they implement this bright new idea, legalising the repatriation of those exact funds. Unbelievable!

 

[el_expatriado]

But el expatriado these bonds can be on traded, so they are going to have to honour them at maturity. Well, not so much have to, but I am sure they dont want history repeating themselves. Funny though, in 2016 it could just well be someone elses problem (another governments).

That's my point. Its just in time for the next government. Because in 2015 they are going to empty the treasury and the central bank of reserves on the electoral campaign. So when someone else takes over they're going to be left with all these tax evader bonds to pay and nothing to pay them with.

Just because they can be traded doesn't mean they will pay. Remember these bonds are going to be governed by Argentine law, so they could just as easily extend the maturity or pay them back in pesos instead of dollars or who knows what else.

And if that happens you can just go to court, right? Oops... we just took away your right to amparos and cautelares, so no judge can help you. And if you found the one judge who honors your right as a creditor against the state, well we have the newly elected members of the Consejo de Magistratura standing by to fire them at will.

Debtors always win in Argentina. Creditors always get screwed. Don't fall for it.

 

[Rich One]

A smart government move all those.Friends currently suspected of money laundering can enter the system No questions Asked. Chau Lanata?

 

[dennisr]

Think this could cause problems for YPF and they could loose their ADR status on the NYSE. Selling any financial instrument without knowing or documenting the sources of the funding is a big no, no with SEC. But, it is Argentina.

 

[citygirl]

Think this could cause problems for YPF and they could loose their ADR status on the NYSE. Selling any financial instrument without knowing or documenting the sources of the funding is a big no, no with SEC. But, it is Argentina.

Oh, that is an interesting point.

 

[Gringoboy]

If the Devil could cast his net.
Talk about a rogues' gallery!