breezy

BANKERS BANKERS BANKERS !!!

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Emotional Lagarde tells trial she acted in France's interests

Dec. 16, 2016   Aurelia End


"Paris (AFP) - An emotional Christine Lagarde told her trial for negligence Friday she acted in good faith in approving a massive state payout to a tycoon when she was French finance minister.

On the last day of her trial in a Paris court, the IMF chief insisted she did no wrong in authorising the 404-million-euro payment to Bernard Tapie to settle a long-running dispute between the businessman and the state.

At issue is Lagarde's decision to allow the dispute to be resolved by arbitration and her later failure to contest the huge award linked to Tapie's sale of the Adidas sports brand to the state-owned Credit Lyonnais bank.

"In this case, as in all other cases, I acted according to trust and with the knowledge of the facts and my sole aim was to defend the general interest," Lagarde told the court.

"The risk of fraud completely escaped me," she said.

The Court of Justice of the Republic -- a tribunal that hears cases against ministers accused of wrongdoing in office -- will give its verdict at 1400 GMT on Monday.

Lagarde, 60, fought back tears as she said the trial was the culmination of a "testing" time for her family."

snip

https://www.yahoo.com/news/lagarde-tells-trial-she-acted-interests-france-133941613.html

 

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Christine Lagarde, I.M.F. Chief, Is Found Guilty of Negligence

Dec. 19, 2016      

 

"PARIS — Christine Lagarde, the managing director of the International Monetary Fund, was found guilty on Monday of criminal charges linked to the misuse of public funds during her time as France’s finance minister, a verdict that could force her out of her post.

The judge hearing the case declined, however, to impose a fine or any jail time on Ms. Lagarde, who began her second five-year term at the I.M.F. in February. The scandal has overshadowed her work at the fund, to which she was appointed in 2011, after Dominique Strauss-Kahn resigned as managing director when he was accused of having sexually assaulted a maid in a New York City hotel.

The move is quite likely to destabilize the I.M.F. as it faces a host of thorny issues, including questions over its participation in a multibillion-dollar bailout for Greece and uncertainty about the United States’ role in the organization once Donald J. Trump becomes president in January.

The verdict was a surprise, after the prosecutor in the trial said last week that the case against her was “very weak” and did not appear to be enough to win a conviction."

snip

http://www.nytimes.com/2016/12/19/business/imf-trial-christine-lagarde-france-verdict.html

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All French turn to Viva La France when they get caught ... they bleat it was for the Good of France ... but never for their good. Often in contracts with French when they discover they may not be getting everything there way after signing they renege (for Americans Renig) on the deal and claim it was for the Good of France... 

She has met her her future well and truly this time..

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REALIST NEWS - India Fears Run on Banks: Capital Controls and Withdrawal Limits to Continue

 

 

REALIST NEWS - China has 30 Day Window for "nuclear option" - Large Currency Devaluation

 

 

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REALIST NEWS - Appeals Court Overturns Dismissal in JP Morgan Silver Rigging Case

 

 

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Spain Sets MASSIVE Precedent — Charges Its Central Bankers in Court!!

Posted By: RumorMail [Send E-Mail]
Date: Tuesday, 21-Feb-2017 12:37:16

 

What are countries getting bolder now that a few others are taking a stance?? One would hope :-)

Iceland, Spain .. is Greece next??

Susoni

*****************************************************

By Claire Bernish

First, Iceland, and now Spain has taken on the Big Bankers responsible for financial calamity, as the country’s highest national court charged the former head of Spain’s central bank, a market regulator, and five other banking officials over a failed bank leading to the loss of millions of euros for smaller investors.

This, of course, markedly departs from the mammoth taxpayer giveaway — commonly referred to as the bailout — approved by the U.S. government ostensibly to “save” the Big Banks and, albeit unstated, allow the enormous institutions to continue bilking customers without the slightest fear of penalty.
SPECIAL:
Clint Eastwood’s Final Words To The World After He Was

Errant bankers and financiers, it would seem, typically manage to either evade actually being charged, or escape hefty fines and time behind bars.

Spain’s Supreme Court last year ruled “serious inaccuracies” in information about the listing led investors to back Bankia in error, thus the bank has since paid out millions of euros in compensation.

But Spanish authorities could not abide the telling findings of a years-long investigation into the failed listing, as Wolf Street explains,

As part of the epic, multi-year criminal investigation into the doomed IPO of Spain’s frankenbank Bankia – which had been assembled from the festering corpses of seven already defunct saving banks – Spain’s national court called to testify six current and former directors of the Bank of Spain, including its former governor, Miguel Ángel Fernández Ordóñez, and its former deputy governor (and current head of the Bank of International Settlements’ Financial Stability Institute), Fernando Restoy. It also summoned for questioning Julio Segura, the former president of Spain’s financial markets regulator, the CNMV [National Securities Market Commission] (the Spanish equivalent of the SEC in the US).

The six central bankers and one financial regulator stand accused of authorizing the public launch of Bankia in 2011 despite repeated warnings from the Bank of Spain’s own team of inspectors that the banking group was ‘unviable.’

As AFP reports, “The National Court validated conclusions made by prosecutors who concluded that when ‘an unviable entity has been listed on the stock market, its administrators or auditor should not shoulder all the responsibility.’”

Specifics of the charges have not yet been made apparent, but as The Economist reports:

The court is questioning why they allowed Bankia to sell shares in an initial public offering in 2011, less than a year before Bankia’s portfolio of bad mortgage loans forced the government to seize control of it. It said there was evidence the regulators had ‘full and thorough knowledge’ of Bankia’s plight. After its nationalisation, it went on to report a €19.2bn ($24.7bn) loss for 2012, the largest in Spanish corporate history.

Internal emails and documents played a crucial role in ultimately bringing the central banking officials to task for the failure of Bankia — inspectors bringing issues to the attention of superiors were allegedly ignored. One email cited by The Economist came from an inspector who warned Bankia was “a money-losing machine,” for which an IPO would not solve.

Another report, deemed “devastating by the court,” saw an inspector advise Bankia to seek a private buyer rather than proceed with the listing.
April 21 2017 – Trigger Event for the US Dollar? (Ad)

An inquiry into “the participation of other players, such as officials in the central bank,” was also urged by the National Court.

As The Economist points out, Spanish judges are generally reluctant to sentence first-time financial criminals to prison; though five Novacaixagalicia executives had five-year suspended sentences — levied for embezzlement in 2015 — abruptly enforced in January.

Meanwhile, taxpayers in the United States have yet to see Big Bankers criminally responsible for the financial ruin of so many Americans brought to any semblance of justice for their wrongdoing.

Source http://www.rumormillnews.com/cgi-bin/forum.cgi?read=69491

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Prominent Hedge Fund Trader Jumps To His Death In Manhattan

Tyler Durden   March 2, 2017

 

"Kevin Bell, most recently head of Credit Risk at Arrowgrass Capital, jumped from a ninth-floor kitchen window at the Apthorp building on West End Avenue near West 79th Street around 7:20 a.m. He landed on scaffolding that was set up in front of the building and was pronounced dead at the scene.

Bell left a note indicating he had been depressed, the source said. He had a history of depression, the source added.

According to the NY Post, Bell left behind a wife and two daughters. His family was at home when he jumped, according to the source.

“The family is hysterical. He was under a lot of meds. He did not give a specific reason why he jumped, but he was depressed,” the source said.

Bell, a graduate of Duke University, worked at Arrowgrass Capital Partners, where he was head of credit risk, according to his LinkedIn page. Arrowgrass managed $4.5 billion as of mid-2016. It is run by former Deutsche Bank traders Henry Kenner and Nicholas Niell, and in 2015 had been stocking its ranks with Saba alumni after losing several employees in its credit-trading group in April. The firm focuses on strategies including corporate distressed assets in the U.S. and Europe."

snip

http://www.zerohedge.com/news/2017-03-01/prominent-hedge-fund-trader-jumps-his-death-manhattan

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breezy, remember the wall street "jumpers" in the 1929 crash ? beginning of things to come ? osha should have safety nets up and down wall street in anticipation of whats to come.

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For anyone who deep down does not understand the source of the cancer we are all enduring listen to this from the point I have set in the video... what he says is something EVERYONE should really understand...

 

 

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Envelope explodes at IMF offices in Paris, 1 injured

16 Mar, 2017 

Source:  rt.com

Link:  https://www.rt.com/news/380975-explosion-imf-paris-envelope/

 

A letter bomb presumably containing handmade explosives went off after being opened at the offices of the International Monetary Fund (IMF) in Paris on Thursday. At least one person was injured. Police said there had been telephone threats prior to the incident.

A police operation is underway, law enforcers said in a statement, adding that one person was left injured by a suspicious package with explosives inside. The IMF employee received injuries to her arm and face, BFM TV reported.

The Paris police prefect has said that the device which exploded at the IMF office was sent by post. An IMF employee suffered facial injuries, presumably caused by a handmade explosive, police said.

At least three people were at the IMF office at the time of the explosion, police said. Security services are investigating the origins of the parcel.

Snip 

 

Suspicious package found at German finance ministry contained explosives – police

15 Mar, 2017

Source:  rt.com

Link:  https://www.rt.com/news/380859-germany-finance-ministry-suspicious-package/

 

A suspicious package found early Wednesday at the German finance ministry in Berlin contained explosives, according to police.

The package was addressed to Finance Minister Wolfgang Schäuble but was flagged by security services in the ministry’s post office, according to German newspaper, Bild. Wires were seen protruding from the package as it passed through an X-ray machine, the report said.

Snip

https://youtu.be/5uPEeTPD_Ak

 

 

 

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Cross posting to the Organised Child Abuse thread.

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Wall Street Banks Warn Downturn Is Coming

Sid Verma  Cecile Gutscher   Aug. 23, 2017

snip

"HSBC Holdings Plc, Citigroup Inc. and Morgan Stanley see mounting evidence that global markets are in the last stage of their rallies before a downturn in the business cycle.

Analysts at the Wall Street behemoths cite signals including the breakdown of long-standing relationships between stocks, bonds and commodities as well as investors ignoring valuation fundamentals and data. It all means stock and credit markets are at risk of a painful drop.

“Equities have become less correlated with FX, FX has become less correlated with rates, and everything has become less sensitive to oil,” Andrew Sheets, Morgan Stanley’s chief cross-asset strategist, wrote in a note published Tuesday.

His bank’s model shows assets across the world are the least correlated in almost a decade, even after U.S. stocks joined high-yield credit in a selloff triggered this month by President Donald Trump’s political standoff with North Korea and racial violence in Virginia."

snip

https://www.bloomberg.com/news/articles/2017-08-22/wall-street-banks-warn-winter-is-coming-as-business-cycle-peaks

 

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REALIST NEWS - Fed Vice Chair Stan Fischer Resigns For Personal Reasons (No way a coincidence)

 

Tx Neo  rats/sinking ship  time to pay attention?

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BANKERS FREAKING OVER BITCOIN -- Claudio Grass

 

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Australian Banks Reportedly Freeze Accounts Of Bitcoin Users

Dec. 31, 2017            Tyler Durden

 

"Adding to the pressures on bitcoin early this morning, the Sydney Morning Herald reported that bitcoin users across Australia are reporting that their accounts have been abruptly frozen by the country’s “Big Four” banks. And while the banks have remained largely tight-lipped about the closures, many angry account-holders are jumping to conclusions and blaming the banks for punishing them because of their involvement with bitcoin.

Bitcoin investors are claiming Australia's banks are freezing their accounts and transfers to cryptocurrency exchanges, with a viral tweet slamming the big four and an exchange platform putting a restriction on Australian deposits.

According to the Herald, cryptocurrency trader and Youtuber Alex Saunders called out National Australia Bank, ANZ, the Commonwealth Bank of Australia and Westpac Banking Corporation on Twitter for freezing customer accounts and transfers to four different bitcoin exchanges  - CoinJar, CoinSpot, CoinBase and BTC Markets.

snip  video    tweet

In response, some users complained that their activities with the cryptocurrency had still been described as a "security risk" by their financial institutions.

While not every bank had explicit policies governing their relationship with cryptocurrencies, according to the Morning Herald, Commonwealth Bank’s June 2017 terms and conditions for CommBiz accounts specifically excludes this activity, saying it can refuse to process an international money transfer or an international cash management transaction “because the destination account previously has been connected to a fraud or an attempted fraudulent transaction or is an account used to facilitate payments to Bitcoins or similar virtual currency payment services”.

A Commonwealth Bank spokesman said it was receptive to innovation in alternative currencies and payment systems “however, we do not currently use or recommend any existing virtual currencies as we do not believe they have yet met a minimum standard of regulation, reliability, and reputation compared to other currencies that we offer to our customers".

“Our customers can interact with these currencies as long as they comply with our terms and conditions and all relevant legal obligations,” he said.

One Twitter user, Michaela Juric, who is known on twitter as Bitcoin Babe, said she had business accounts closed by 30 banks and posted a picture of a letter from ANZ, saying it was closing her accounts effective 30 January 2018 in accordance with its terms and conditions."

snip

https://www.zerohedge.com/news/2017-12-30/australian-banks-reportedly-freeze-accounts-bitcoin-users

tx Landdownunder

 

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These Are The 6 Traders Who Were Just Arrested For Manipulating The Gold Market

Tyler Durden      Jan. 29, 2018

"On Monday morning we reported that a number of traders - currently or formerly employed by UBS, HSBC and Deutsche Bank (as usual, no JPMorgan US banks were touched) - would be perp-walked and charged in an unprecedented cross-agency crackdown between the CFTC, DOJ and FBI seeking to punish spoofers of futures. This was confirmed moments ago by a CFTC press release which announced criminal and civil enforcement actions against three banks and six individuals involved in commodities fraud and spoofing schemes.

Here is what got far less publicity: it wasn't just any futures that were spoofed - all the banks and traders busted were charged for spoofing the precious metals market, i.e. gold and silver. We bring this up because there are still the occasional idiots out there who say gold and silver were never manipulated.

The banks in question, and their penalties:

Deutsche Bank will pay a $30 million civil monetary penalty and undertake remedial relief. The Orders finds that "from at least February 2008 and continuing through at least September 2014, DB AG, by and through certain precious metals traders (Traders), engaged in a scheme to manipulate the price of precious metals futures contracts by utilizing a variety of manual spoofing techniques with respect to precious metals futures contracts traded on the Commodity Exchange, Inc. (COMEX), and by trading in a manner to trigger customer stop-loss orders."

snip

https://www.zerohedge.com/news/2018-01-29/these-are-6-traders-who-were-just-arrested-manipulating-gold-market

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White Hats Report#63 – #ARRESTtheFED

Jan. 29, 2018

"The Storm is here.

The releases coming over the next few weeks will expose the details of the methods by which the cabal rules the world through the control of money by showing you trading contracts with proceeds as high as $3 Trillion and $25,000 Trillion. Enough to fund every TRUE humanitarian project on Earth in addition to advanced technology, free energy, the exploration of our universe, housing, hydroelectric projects for undeveloped countries, turning deserts green and other infrastructure projects all over the world. Instead, the money is used to subvert the production of the people to a select few bloodline families. This is how these people control Planet Earth.

Signatories to the trading contracts:

Federal Reserve:
Alan Greenspan
Ben Bernanke
Roger Ferguson
Janet Yellen
Timothy Geithner

US Government:
Barack Obama
Joe Biden
Jack Lew
Paul O’Neill
Neil Wolin

Trading Programs

Trading programs were created as a way to raise funds for projects that relate to humanitarian endeavors, ie. Creating, maintaining and rebuilding infrastructure, assistance with bringing undeveloped countries up to current technologies, rebuilding communities after natural disasters….are just a few of the applications.

But, as with anything to do with the financial world, the rat pack of bankster cabalists have infested it at the highest levels to subvert the program for their own devious plans to control the world. History is replete with personalities whose aspirations to run the world are well known: Alexander the Great, Genghis Khan, Julius Caesar, Adolph Hitler….are just a few who come to mind. Why is it such a stretch to believe that that same lust for power is not present today? Rather than be accomplished by might and power and strength and armies all out in the open, now it’s being done in secret by conning the people of the world utilizing a usury system of currency control akin to immoral grifters running a game of three card monty.

Trading programs are initiated, administered, operated and controlled by the Federal Reserve. Sound familiar? You should know what’s coming next.

Now that the information is out in the open about how the Federal Reserve and their bankster brethren are operating a massive con game on the public, we’re going to take you to a deeper level, never seen before and never revealed to the masses on the scale we’re about to unveil.

The elements of a trading program contract are very simple, an investor, an amount, a time period, collateral, earnings and payout schedule. The investor puts up the collateral (asset), the Federal Reserve administrates the profit generation mechanism (program trading, bank to bank) and the proceeds of the trading profits are split between the parties to the contract and the project fund. There are two parties to the contract, the investor and the Federal Reserve Bank (NY), a PRIVATE CORPORATION.

The scam is simple although the protocols and mechanisms of the process are sophisticated. Find an investor with vast sums of cash or gold or equivalent asset value, enter into a contractual agreement where their humanitarian objectives are accomplished, then when the proceeds are paid from the inter-bank trading platforms, steal the proceeds and use it for a variety of means, all of which are crimes against humanity and serve to keep us all in chains.

Over the years, we’ve documented the thefts on Falcone, Tropos, Wanta and others, accomplished by bribes and payoffs in the millions of dollars. When you generate multiple trillions with each trading contract, what’s a few hundred million paid to the Clintons, Romney, Herzog, Guenette, Biden and others to keep their mouths shut? When you generate $25,000 Trillion ($25 Quad), you could pay every debt on the books, fund all governments for decades and of course, trigger a financial reset to enrich every person on the planet.

But no, that’s not how it’s done when you run the world. You coerce, bribe, blackmail, steal and deceive your way into controlling the planet by controlling the flow of money, creating a process by which you are the ones at the top of the pyramid. The majority of money generated from these programs is OFF BALANCE SHEET. This means it is NOT reported…..recall the old joke about “two sets of books.”

snip

http://whitehatsreport.com/

Tx Reddwolf


 

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GOLD READY FOR HUGE RUN HIGHER - Keith Neumeyer

 

 

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Cash "Vanishes" From Bank Accounts In Ireland

Mark O'Byrne      April 25, 2018

"- Emergency cash offered by Ulster Bank as cash vanishes from accounts
- Bank makes €500 available to customers whose deposits vanish
- Bank investigates after hundreds of complaints on social media
- “My salary has disappeared from my account today and my wife had her card declined when trying to pay for a GP visit and medication"
- Cyber attacks and Brexit are biggest threats to the securities, insurance and banking  sectors
- Exposes risks posed to cash deposits in age of hacking, cyber fraud and terrorism
- Conclusion: Take some of your savings and wealth off line?

Your money in your bank account can vanish. That is the lesson from yesterday's enormous screw-up by Ulster Bank that saw payments and bank account balances suddenly vanish.

Customers were left out of pocket and struggling for funds. Payments including salaries were not made, cards were declined and customers were unable to pay for urgent goods and services.

Ulster Bank has blamed the issue on 'human error' and claims this morning that the issue has been rectified. Although it has taken some customers four days to be able to make urgent payments.

This was a weekend of bank 'errors'. In the UK, TSB faced a 'meltdown' after scheduled IT maintenance went somewhat awry. Many customers found themselves unable to access their accounts, whilst some even had access to other peoples' money.

The fallout will last for some time. We have all fallen victim to bank charges at some point or another - whether for missed direct debits or unauthorised overdraft charges.

Lets hope that the onus will not be on the customers to prove that it is not their fault that their account and their balances are not what they should be. Credit scores and ratings could be damaged and relationships with individuals' creditors may be impacted.

Rather than be seen as an inconvenience for customers, bank users everywhere should see this as a reminder that 'money' in the form of digital pounds, euros, dollars and other fiat currencies can just 'disappear' whether due to human error or more nefarious causes such as hacking."

snip

https://www.zerohedge.com/news/2018-04-25/cash-vanishes-bank-accounts

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This Will Leave You Speechless! Its Actually Happening!

 

For those who didn't or don't know.

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Australia's Largest Bank Lost The Personal Financial Histories Of 12 Million Customers

May 2, 2018     Paul Farrell
They might have fallen off the back of a truck...

 

"The Commonwealth Bank lost the personal financial histories of 12 million customers, and chose not to reveal the breach to consumers, in one of the largest financial services privacy breaches ever to occur in Australia.

BuzzFeed News can reveal that the nation’s largest bank lost the banking statements for customers from 2004 to 2014 after a subcontractor lost several tape drives containing the financial information in 2016.

While the bank initially notified the Office of the Australian Information Commissioner (OAIC) of the breach shortly after it became aware of it in 2016, a spokesperson for the OAIC told BuzzFeed News it was now making further inquiries into the privacy breach, following a damning report into the bank's culture released on Tuesday.

Angus Sullivan, Commonwealth Bank’s acting group executive of retail banking services told BuzzFeed News in a statement: “We take the protection of customer data very seriously and incidents like this are not acceptable. We want to assure our customers that no action is required and we apologise for any concern the incident may cause."

“We undertook a thorough forensic investigation, providing further updates to our regulators after its completion. We also put in place heightened monitoring of customer accounts to ensure no data compromise had occurred."

Personal banking statements contain potentially sensitive personal information, and can paint a detailed portrait of the financial and personal affairs of a person. They could potentially be misused by organised crime groups if they fell into the wrong hands, or exploited by commercial companies that could use the data for illegitimate or unethical purposes.

Sullivan told BuzzFeed News in his statement the information disclosed in the breach did not contain anything that could directly compromise accounts, such as passwords or PIN numbers."

snip

https://www.buzzfeed.com/paulfarrell/australias-largest-bank-lost-the-personal-financial?utm_term=.taRrPq51My#.lb1kG2Wepj

 

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Goldman Sachs vice president charged with insider trading

May 31, 2018                 Brendon Pierson

"NEW YORK (Reuters) - Federal prosecutors charged a vice president at Goldman Sachs Group Inc (GS.N) on Thursday with insider trading by illegally using non-public information about several companies that were clients of the investment bank.

Prosecutors said Woojae “Steve” Jung, a 37-year-old Korean citizen, made more than $130,000 by trading illegally on confidential information relating to upcoming transactions and merger negotiations that he was privy to through his job.

Authorities said Jung, who joined Goldman in 2012 and worked in San Francisco, conducted his trades through a brokerage account in the name of a friend living in South Korea. The brokerage account was accessed from internet addresses that were traced to Jung, according to the U.S. Securities and Exchange Commission.

“Woojae Jung violated his duty to his company and traded on stolen insider information, over and over again,” U.S. Attorney Geoffrey Berman in Manhattan said in a statement."
snip

https://www.reuters.com/article/us-goldman-sachs-insidertrading/goldman-sachs-vice-president-charged-with-insider-trading-idUSKCN1IW2CY

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Argentina Peso Plunges To New Record Low

Tyler Durden    June 8, 2018

 

"Last night, Argentina got 50 billion pieces of good news, when the IMF agreed to provide the troubled Latin American nation with a $50BN standby loan, the largest even in IMF history. It also got some bad news, when the central bank announced it would remove the 25/USD barrier it had imposed in early May to prevent an escalating currency crisis.

Well, this morning, contrary to expectations that the Argentina Peso would rise on the IMF loan, ARS resumed its selloff, and promptly breached the central bank's 25/USD barrier, and plunging 2.3% to 25.55 .

2018-06-08%20%285%29.jpg

The breach of the barrier shows that confused traders are seeking to find the "fair value" of the ARS after almost a month of living with a virtual cap. The move is also surprising as it contrasts with the positive impact from the IMF deal seen in sovereign bonds market, with Argentina's century bond’s due 2117 dropping modestly by 18bps, to 8.02%

 

Meanwhile, there is the political blowback to consider: as Bloomberg notes, after the kneejerk reaction and market stabilization at a new level - assuming there is one - traders will start watching the steps govt will make to achieve the new fiscal targets as Argentina is well known for protests, and the latest round of IMF austerity in the form of cuts in jobs and government spending is unlikely to be achieved peacefully.

Meanwhile, as Bloomberg's Sebastian Boyd writes, "given the pace of inflation, the peso needs to weaken just to maintain the real exchange rate, and arguably it should fall more than that. But today is going to be interesting. It looks as if the market wants to test the bank's resolve again."

As we reported yesterday, Argentina will seek a fiscal deficit/GDP of 2.7% this year and 1.3% in 2019; below the previous targets were 3.2% and 2.2%, respectively; the country is expected to balance its budget in 2020.

Ironically, even as the Brazilian real is stabilizing, for now, after last night's central bank intervention, the EM selloff in Latin America for now has merely jumped borders across to Argentina. The question is whether the central bank will be forced to intervene again."

snip

https://www.zerohedge.com/news/2018-06-08/argentina-peso-plunges-new-record-low

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