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That 20 billion could grow to 40 billion. The money didn’t do the peso any good. They’ll need more more and more of our money to bail out some opportunist billionaire. I thought this new Argentina president bought a bunch of Bitcoin when he took office!

On September 24, Treasury Secretary Scott Bessent announced a $20 billion bailout for Argentina. Under that plan, Bessent will swap taxpayer dollars for Argentine pesos. President Trump admitted that the bailout, even if it succeeds, will provide little benefit to Americans. But as Popular Information first revealed, the bailout is critical to the economic fortune of hedge fund billionaire Robert Citrone, a personal friend and former colleague of Bessent, who has invested heavily in Argentine assets.

Trump’s Argentina bailout enriches one well-connected billionaire

Judd Legum

·

Sep 29

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Weeks later, the cost of the Argentine bailout to United States taxpayers may grow to $40 billion.

Javier Milei, the President of Argentina, desperately needs an influx of dollars to prevent a rapid devaluation of the peso. Controlling the peso’s value is key to Milei’s plan to reduce inflation, which reached 200% in Argentina in 2023.

Milei’s policy is to keep the peso’s exchange rate with the dollar within a certain range. At present, the floor is 1,491 pesos to the dollar. If the peso exchange rate threatens to drop below the band’s floor, the Argentine central bank needs to buy pesos with dollars to protect the exchange rate. The U.S. announced the $20 billion swap as the Argentine government ran out of foreign currency.

The problem with this approach is that Argentina cannot borrow enough foreign currency to stabilize the peso at an inflated exchange rate. A recent Morgan Stanley analysis found that, even in the most favorable scenario, the Argentine peso will not stabilize below 1,700 pesos to the dollar.

So long as the Argentine government is willing to buy pesos with dollars at an inflated rate, demand will be insatiable.

UPDATE: Hedge fund billionaire pressed Treasury Secretary for Argentina bailout, Argentine media reports

Judd Legum

·

Oct 2

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The $20 billion U.S. swap was announced just a couple of months after the International Monetary Fund (IMF) extended its own $20 billion package. On October 15, weeks after Bessent announced the $20 billion swap, he said that he was organizing a separate $20 billion facility financed by banks and private equity.

From the beginning, this made little sense. Banks stopped lending to Argentina, one of the most heavily indebted nations in the world, years ago because it is unlikely the country will ever have the means to repay them. Argentina already owes the IMF $60 billion. If banks were willing to lend to Argentina, the initial $20 billion swap from the U.S. government would not have been necessary. Bessent stepped in because Argentina had run out of options.

A report this week by the Wall Street Journal details what is really happening. The group of banks assembled by Bessent to help Argentina, which includes JPMorgan Chase, Bank of America, Citigroup, and Goldman Sachs, is demanding “some type of guarantee or pledge to ensure they will get their money back.” Specifically, they are asking “if Washington would plan to backstop the facility.” In other words, these banks are willing to lend Argentina money as long as they can keep the profits, while losses are shouldered by U.S. taxpayers. The Treasury Department did not dispute the Wall Street Journal’s report, saying only that talks with the banks “remain ongoing” and details would be announced “when these talks are complete.”

This is all very risky business. Bessent says that it’s a great deal for American taxpayers because the Argentine peso is currently undervalued. If that is the case, why aren’t private investors eager to exchange their dollars for pesos?

Since the first $20 billion bailout was formalized on October 9, the Argentine peso has declined from 1,421 pesos per dollar to 1,488 pesos per dollar. According to Bloomberg, the peso would have sunk even lower on Tuesday, but both the Argentine central bank and the U.S. Treasury intervened, buying pesos with dollars.

Despite extraordinary support from the Trump administration, the billions in taxpayer dollars — and the promise of billions more — have

UPDATE: Taxpayer bailout of Argentina may grow to $40 billion https://share.google/r11sMgcsjPdDAvyo2

That’s interesting.

This is more paranoid bollox and has been deleted.

• Uber CEO Dara Khosrowshahi has stated that autonomous vehicles (AVs) could largely replace human drivers within the next 15 years.
• The company is not developing its own AV technology anymore, but is partnering with leaders in the field. These include Waymo, Cruise, and Avride, which own and operate the vehicles.
• These robotaxis are already operating in select U.S. cities, such as Atlanta and Austin, through the Uber app.
• The rollout is currently limited to specific zones and times. For example, in Atlanta, the robotaxis initially only operated on surface streets.
• Replacing drivers with AVs is expected to significantly cut Uber’s costs, as driver wages are the largest expense for each trip. 

• Uber Eats has partnered with Serve Robotics to deploy sidewalk delivery robots for shorter trips in cities like Los Angeles, Miami, and Atlanta.
• The robots are designed to handle easy, short-distance deliveries, which frees up human couriers for longer, more profitable trips.
• The company is also working with Avride for delivery robot services in Jersey City, Austin, and Dallas.
• Robot deliveries are already being integrated into the Uber Eats app, where customers in participating cities can sometimes choose to have their order delivered by a robot. 

The crooked car sales business are not only ripping people off but their high prices and  interest rates are scaring potential buyers off. It’s also hurting the lenders with increasing defaults and repos. It’s not helping auto manufacturers.

Auto loan crisis is back in 2025: What should lenders do now? https://share.google/R45LDVu7c3uZ92cF0

It’s about a dollar 23 to a dollar 70 more here thanks to Newsom.

I watching the charts, might be buying some stocks when it hits bottom.

Keep in mind with Christians it can be a little harder because they believe this life is temporary anyways and believe in the after life and aware evil will pull things like that. When something bad happens that affects people they need to make sense of it. They need to know who their angry at a Asian friend said about the tsunami in Japan and didn’t know who to get angry at since it was nature. Some who lost their family in response of survivors guilt and grief channeled that anger at themselves  committed suicide. Then the other sid  is denial. Elvis lives.

Some how I can’t see him running away from a fight unless they threatened his family and convinced him they will hurt them if he doesn’t cooperate.

Probably good you won’t watch it… because everyone I sent it to that DID watch it now sees and believes it was a HOAX.  Once you see it you can’t un-see it.

Personally, I’m very relieved to know that Charlie is alive and well. I’m sure this was orchestrated as the only way to actually SAVE his life, even if it now has to be from behind closed doors.

Stew Peters noted there has been no death certificate issued, and no record of him being admitted to any hospital after “the incident”. IMO best to drop it.

BTW where were they supposed to get a towel from anyways and don’t think worrying about getting blood on things was the immediate priority at the time. Just something to think about, always carry a large bandana or clean large  handkerchief on you. You never know when your gonna need it and water in your car too. More than one. That wound should of been pinched off then packed tight on both sides of the artery till you don’t see blood coming through immediately with anything handy, shirt to skirt.  Always have a bandana folded maybe in a sandwich wrap on you, in your house and car. A universal bandage, head wrap, tourniquet, or when you do something stupid like I did years ago and opened the radiator cap when it was still hot. The bandanna and water in my car helped save me some of the learning pain knowing I should of waited but did it anyways.

You don’t see a towel or any blood dripping when they were carrying him because he’s dead and the heart is no longer beating. They had no one there to pince off the arteries and pack it immediately. The whole think was like something out of the Keystone cops. No telling where that bullet traveled inside his body either. I’m not going to listen to observers and with AI don’t trust what I’m seeing with things like this anymore.

Shown by experts in the art of deception.

The first is intentionally speeded up, then there is lots of reading so you fully understand….but by the end you will see and believe it too. FWIW from SnG

The link has been deleted…we are here to discuss serious matters, not the ravings of conspiracy nutters…get real or get out.

… you are going to be very angry when you hear this … the commies in DC are getting worse and worse …

… what’s worse than that is it’s becoming increasingly clear the Donald is destroying the American economy …

ObamaCare Premiums Are Going Up, New Figures Show | ZeroHedge

There’s no way he could be this stupid … no way … he thinks you are though … that’s why he is installing the control state … or should I say his handlers are … so you won’t be able to do anything about it … obviously they already feel that way.

Have a nice life

Good post. Insightful context.

People are not helping her at all morn the death of her friend and brother Charlie. This is very deep and personal to her. If they even half ass recognized her feelings borderling hysterical they wouldn’t be making things worse filling her head full of unverified accusations of who killed him. Especially knowing they never do anything about it or the past inside jobs like Kennedy. That her wanting to find the ones responsible mixed with her grief and anger and the kind that could leave her vulnerable for self harm they are only feeding the fire. Until they have some real evidence they need to leave her the hell alone and insead acknowledge her feelings of pain and anger are totally normal and  understandable under the circumstances. None of us is exactly too happy about it ourselves.

Putin set out the necessary objectives of the Special Operation at the beginning. Take four mostly Russian speaking Oblasts for Russia after 14 years of genocide against Russian speakers and as a buffer against NATO after 31 years of broken promises from it. No NATO membership or nuclear weapons. To back down from those would show weakness. So, apart from not showing signs of weakness, these are the objectives. Nothing more, definitely nothing less. Trump has always failed to appreciate that they are not the opening position for negotiations.

How valuable is a swift victory? If the BEF had successfully defeated Germany in 1940, would there have been such a sense of achievement? Would there have been such great sacrifices etched upon people’s minds for generations to prevent future wars?

How valuable is a cheap victory? The battle for Stalingrad took a year and cost over a million Russian lives. It essentially ended WWII, as the Wehrmacht was finished. But, along with the defeat of Napoleon’s winter offensive and many other battles, it is part of Russia’s existentialist history, engraved on the hearts of all Russians. Nothing worthwhile, especially their country, is cheap. Unfortunately Zelenskyy knows nothing of this emotion, or he would not be so stubborn. NATO and Co. of course don’t care, not their fight, let the stupid Ukrainians die for our cause and keep an eye open for an opportunity to really capitalise if a situation arises.

So there is merit, militarily and existentially, in a long, bloody campaign. Leave Kyiv (relatively) intact but give the Ukrainian people an experience they won’t want to repeat. And the advantage is usually with the defenders, so a long campaign, with slow advances during which time the defences can be pummelled into oblivion, before risking manpower, with the relentless use of shells, missiles and drones, minimises Russian casualties and maximises the despair of the enemy. Ukrainian support for the war is now apparently at 23%, and falling. Attacking infrastructure, especially energy, serves to weaken the will of the people, no matter how much the comedian tries to laugh it off as a necessary sacrifice.

Yeah, I know, I’m a cynical bastard. But Britain and Russia are two of the oldest countries in the West. Maybe Spain too. All the others, France, Germany, Italy, Poland etc were in a state of flux for centuries, petty kingdoms and principalities fighting each other as much as external enemies, even into the twentieth century. Including the Scandinavian countries, although to a lesser extent. And the US, a mere 250 years of existence. I suspect it has been irrevocably diluted in Britain now, but the innate patriotism of Russians is their greatest strength in a conflict like this. They may not like their leaders, but they recognise strength, and necessity, and accept the need for a long campaign.

Ascot to Launch C$0.01 Per Share Rights Offering and 50:1 Share Consolidation; Enters into Advisory Agreement with Fiore and Support of Major Shareholders and Creditors

https://finance.yahoo.com/news/ascot-launch-c-0-01-132900036.html

Supposedly Putin has held back from destroying many of the important gov buildings in Ukraine. If Moscow gets hit hard then I wouldn’t want to be living in Kiev!

I don’t know what territorial gains Putin wants to have. Doesn’t look like he’s there yet. Maybe it’s other factors that are holding up a peace deal?

With all the devastation in Ukraine, you wonder how they have places to build weapons. Do you find it odd that Putin hasn’t gone for the jugular and leveled Kyiv?

I also find it odd that Putin didn’t accept stopping the war at the current battle lines allowing him to keep the territory he’s already taken. If he wants the whole country, why not destroy Kyiv?

All wars are bankers wars I guess. 🙂

Zelensky Touts Successful Test Of ‘Flamingo’, Homegrown Cruise Missile Which Can Hit Moscow

Back in August, Ukrainian President Volodymyr Zelensky boasted that his military no longer needed US ‘permission’ to conduct long-range strikes on Russian territory with missiles. This was given that Ukraine had been developing its own domestic designed and produced long-range missile. Zelensky at the time unveiled the ‘Flamingo’ cruise missile.

On Thursday Zelensky has announced a successful test the Flamingo, which can also be described a drone-missile capable of strike as as far as 3,000km (or over 1,860 miles) away.

https://www.zerohedge.com/geopolitical/zelensky-touts-successful-test-flamingo-homegrown-cruise-missile-which-can-hit-moscow

but still gets punched in the mouth.

Average sales price of gold was $3539 – higher than I thought it would be. Only a $.07 more than last quarter, probably should have beat by more than that which might be why they are down. I know the high-end range of estimates was $1.81.

They kept their dividend at $1 per share, even though they are set to earn around $7 a share. Not exactly rewarding their shareholders or protecting the share price are they?

I think AEM might be next in line. They seem to have better management.

Edit: NEM isn’t being beaten too bad.

The metals didn’t have that great a day with rates back at 4%. Might be sketchy until the Fed cuts .25 next week again.

I am so cynical about Fall st and this sector , that it wud not suprise me if the analysts deliberately pushed forecasts hi, so they can hardly ever beat.

had a sneak peak at those earnings the last 30 minutes of trading……

The last 3 quarters they beat by 29.2%, 36.5%, and 23.3%.

This beat by only some 16%