ARGENTINA: US Court rules they must pay $5.4 billion to bondholders before creditors ‘

#AceFinanceReport – Featured Update: ARGENTINA:This is a situation l have followed for sometime, left time-line of events at bottom of post. As US apply strangle-hold to get money for themselves and fellow bondholders.  

A US court has ruled that before it can pay the majority of its creditors Argentina must pay $5.4 billion to its bondholders in addition to the $1.33 billion that it is already required to pay to a group of hedge funds, the Buenos Aires Herald reports.

The decision was made by US District Judge Thomas Griesa in New York who said that the creditors held bonds that were similar to those held by the hedge funds and thus should be treated in the same way, the newspaper said on Friday.

Dollars

The creditors have sought full repayment on Argentina’s bonds since the country was hit by a major default in 2002. According to the Buenos Aires Herald, they hold about 92 percent of Argentina’s defaulted debt.

In 2001, Argentina was acutely feeling the impact of an economic crisis that began in 1998 and lasted until 2002. At the time, the country experienced high unemployment rates and defaulted on its foreign debt.

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Argentina Strangled by Bond Holders Time-line

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‘ US Judge Holds Argentina in Contempt of Court ‘

#AceFinanceNews – UNITED STATES (Manhattan) – September 30 – A U.S. judge held Argentina in contempt of court on Monday, saying the republic was trying to find ways to circumvent a prior order requiring it pay holdout bond holders at the same time as other creditors who restructured their debt in recent years.

U.S. District Judge Thomas Griesa in Manhattan deferred a decision on imposing sanctions against Argentina to a later date. But he did say that the “problem is that the republic of Argentina has been and is now taking steps in an attempt to evade critical parts of” his injunction.

Argentina’s government enacted a new law recently to get around a court ruling saying it must pay more than $1.3 billion to holdout hedge funds who rejected the country’s debt restructuring agreements in 2005 and 2010. The country defaulted on more than $100 billion in debt more than a decade ago.

Carmine Boccuzzi, a lawyer for Argentina, had said a contempt ruling would just “make matters worse.”

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Why the Wall Street Banks Cannot Fail as they Designed Products to Suit themselves Not their Investors

Q. These two notes look the same but one is credit and one is debt, which one is which?

Q. These two notes look the same but one is credit and one is debt, which one is which?

The reason is that all money that is printed for the purpose of the lending market, has but one purpose from a lenders point of view ,to create a way to hold people accountable, should they not pay!

That is the fist rule of lending.

The second is to minimise the risk in favour of themselves, so as in the case of the wall street bankers they created a way to maximise profits and minimise risk, simply by creating a portfolio of hedge funds, these were of course situated offshore, thus no taxation payable! They were then utilised to buy corporate bonds and using the hedge funds, they created products to sell to their investors! So when an investor came to them looking for good investment opportunities, they were  as with all products, advised of the  risk, asking whether they would prefer a low, medium or high risk investment ,not realising the products they were being offered, had been designed and honed by the investment bankers!

In fact they were so well designed that the bankers made money, whether the client made money or not! As the products were designed with one simply plus, that of capitalizing on the “Investors Greed” so the more the client made, utilising their highest risk investments, the more the bankers made, but add to that the additional plus {For them not the Investor} the more the client lost, they still made money!

Now with all that accumulated wealth funds offshore they do not need people to invest ,they have all the capital they need, and can sit in their ivory towers and move money on a computer screen, making a billion a second!  One final bonus for them is that using all the hedge funds they then convert them into Wealth Funds and as an investment vehicle buy shares in corporations when the 2008 crisis hit! Also as  a lot of investors went to the wall around that time, they picked up dirt cheap assets, purchased with their own clients money!! Well now their is a bonus for the bankers! 

English: The corner of Wall Street and Broadwa...

English: The corner of Wall Street and Broadway, showing the limestone facade of One Wall Street in the background. (Photo credit: Wikipedia)

Now these Wall Street Bankers have become to big too fail, the reason well their clients provided the wealth for them to grow to a size, to buy anything and provide funding through “Dark Money” Investment Vehicles” to make it possible to manipulate the governments of the world! They started by backing certain politicians in the senate and of course their own future leader ,they may have failed this last time, but mark my words they will succeed eventually! So now these bankers – who people have aptly called bankster’s ,who trousered the wealth can watch people fail, or lose their livelihood as they did in 2008!

You see these bankers are too big to fail for one reason and one reason only, while they can manipulate people with their billions, they control the world by the simple action of “Money” and as everyone should know “The Love of Money is the Root of all Evil” and it is the bankers that are the snakes ,and we are those that by following their words eat of the tree of knowledge of good and evil, everyday of our lives!

Eventually and sooner than you think these people will close their doors and banks will not be open to the likes of us ,who do not have the billions and they will sit in their newly created ivory towers, looking down upon those that put them in this seat, of so-called power! Then like a massive monopoly board they will move their money on the screen of their computers ,buying and selling assets, they partly own or control!

So when people keep saying to me that we can control these banksters, we can implement “Rules and Regulations” through the FCA or the like, really they have no chance, of success! As the bankers are the ones who hold all the cards and are one step ahead, as they know all the right people, as they buy their power with the almighty dollar.

So they will for the time being sit in the shadows and manipulate the markets.

There is however one saving grace, that one day someone much bigger waiting in the wings will come to the fore and will like them, have already moved all the pieces on the board of life into place, with the whole intention of not controlling money, using power but eventually controlling people’s minds!

They know who they are, and so do l! They may think they can hide in the lies in their words and avoid detection, but the time is coming when their final days will be over for ever! Always remember as in the story of little boy who slew the giant Goliath with little more than a sling and a stone. The meek will inherit the Earth and the strong will wither on the vine!

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