Infinite Unknown

- Argentina’s Modest Proposal: Buy Bonds Or Go To Jail (ZeroHedge, May 11, 2013):

While Argentina’s recent extraordinary attempts at central planning have been widely documented, ranging from freezing supermarket prices in a (failed) attempt to control inflation, to banning advertising in a (failed) attempt to weaken the private media, so far nothing has worked at stabilizing the economy and preventing the collapse in the domestic currency (if leading to such humorous viral videos as #mequieroir). Ironically, this is both good and bad news. It is good news because as we showed two days ago, even the ludicrous speed rise in the Nikkei has been a snail’s pace compared to that other unknown “Nation 1.” We can now reveal that while Japan is Nation 2, Nation 1 is that inflationary basket case Argentina, and specifically its Merval stock index. Continue reading »

Tags: Argentina, Bonds, Cristina Kirchner, Debt, Economy, Global News, Government, Inflation, Japan, Politics, Stock Market

- Argentina Freezes Supermarket Prices To Halt Soaring Inflation; Chaos To Follow (ZeroHedge, Feb 5, 2013):

Up until now, Argentina’s descent into a hyperinflationary basket case, with a crashing currency and loss of outside funding was relatively moderate and controlled. All this is about to change. Today, in a futile attempt to halt inflation, the government of Cristina Kirchner announced a two-month price freeze on supermarket products. The price freeze applies to every product in all of the nation’s largest supermarkets — a group including Walmart, Carrefour, Coto, Jumbo, Disco and other large chains. The companies’ trade group, representing 70 percent of the Argentine supermarket sector, reached the accord with Commerce Secretary Guillermo Moreno, the government’s news agency Telam reported. As AP reports, “The commerce ministry wants consumers to keep receipts and complain to a hotline about any price hikes they see before April 1.” Continue reading »

Tags: Argentina, Collapse, Cristina Kirchner, Economy, Global News, Government, Hyperinflation, Inflation, Politics, Society

Morphine for training exercises? Sure!!!

(AFP) — Argentina and the United States are engaged in a diplomatic spat after Buenos Aires authorities seized what they say are undeclared weapons and drugs on a US military aircraft last week.

The Argentine government on Monday said it planned to lodge a formal protest with Washington, while the US State Department said it was “puzzled and disturbed” by the seizure of what it claimed was routine equipment for training the Argentine federal police.

Officials in Argentina said the US Air Force C-17 transport plane was searched and its cargo seized by customs officials on Thursday at Ezeiza International Airport after arriving with experts and material for a hostage rescue training exercise.

In a statement late Sunday, President Cristina Kirchner’s government said it would lodge a protest with Washington and ask it to cooperate in a probe into the air force’s attempt “to violate Argentine laws by bringing in hidden material in an official shipment.”

Argentina has said it seized “sensitive material” that had not been declared in a manifest submitted by the US embassy.

“Among the material seized, which the State Department makes no reference to, are from weapons to different drugs, including various doses of morphine,” the foreign ministry said in Sunday’s statement.

State Department spokesman Philip Crowley said “we are puzzled and disturbed by the actions of Argentine officials,” adding they conducted what he called “an unusual and unannounced search of the aircraft’s cargo.”

Continue reading »

Tags: Argentina, Cristina Kirchner, Drugs, Global News, Government, Politics, U.S., Weapons