Argentina’s president, Javier Milei, travels to the White House to meet with President Trump after Secretary of Treasury Scott Bessent organized a $20 Billion currency swap to help underwrite the Argentinian currency.
The currency swap is a major financial lifeline to the South American nation. As Milei arrived at the White House, President Trump was asked if he had a message for the Argentine people, responding: “We love them. We’ll be here for them. They have a great leader.”
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Wow! 20 B!!!
That is a LOT of cash…
Not too sure if I support this,,,, understand a little bit about the need.,.
Thank God for the Tariff Income.
A good place to start is here:
https://www.investopedia.com/terms/c/currencyswap.asp
video version
Good lord in heaven,we are 33 Trillion in debt and you are worried about 20 billion,we gave Uki boy wonder 10 times that.
Tariffs are solving that problem, actually America’s total national debt is 0.1 quaddrillion dollars, TY Federal Reserve
0.1 just shows how insignificant all the hype is. Thanks for putting it in perspective !!!
SPIT!!! Just totally eliminate banks from the entire world!!!
$37T, but who is counting?
It’s a bailout 🤷♀️
Call it what it is….fancy name change and “rebranding” 🙄🙄
Discussion has been going for weeks!
The Duran…Rumble..10 minutes.
Milei needs a US bailout
“It’s a bailout” FOR WHOM?
Milei needs a US bailout? What? Where’s, “OUR” money coming from, UNLESS there’s WAY more in the background that we are not (yet?) privy to?
Trump doesn’t bail out other countries without getting something back in return.
what might that be?
Serious question.
What might he/we get in return for Tomahawk missiles to a penny-ante dictator in Ukraine?
Beef, tomatoes, avocados, etc. 🙂
To Re enforce a great ally. Besides it’ll be paid back in spades. Argentina is a very large country with a healthy lot of Italians who moved there more than a hundred years ago. It’s highly civilized unlike any other country in Latin America. And they like Americans!
I trust Sec Bessant on this, no way he will lie down and stay silent while others who may have PT’s ear, ie Lutnik, torpedo whatever Bessant is doing here. He’s an old hat when it comes to global currencies.
Add to that, giving that Uki dick-tater Boy Tomahawk missiles. The same punk who hasn’t held an election years. That same pea-brain who conspired with the Dimwitz to impeach him (Trump).
It use to be in 1997. Lol
It’s a currency swap. We determined the interest rate. It will be swapped back at some point in the future and we will receive interest payments on the backend.
Nothing to what we flushed down the Ukrainian toilet!
Argentina and Milei are foundationally sound.
We are STILL flushing too!
What happened to “I didn’t start that war!”?
Milei leads a minority party in Argentina and is trying to reverse decades of Peronism and cronyism. Argentina inflatio was killing the nation when he was elected. It will take time to reverse course, but perhaps it is important to remember thatn in the early part of the 20th Century Argentina was the third richest nation on earth. It is a nation worth saving, and is the only nation that can serve as a counterweight to an increasingly unstable Brazil.
350 billion plus to Zelenskyy is a lot of cash
The bridges in my area are crumbling to the point where nets were installed under them to catch falling debris. The children can’t go to school on hot days because there’s no AC in the 100+ year-old buildings. A local government employee was injured this year from an exploding toilet at City Hall. But we can still afford to give Argentina $20 billion! There’s always money for everyone except Americans!
Where do you live?
You notice he neglected to say,plus the school monies come from property taxes and levies. I notice the two people going on about this ,we gave 3 times that to Uki boy wonder.
Yes, I agree, Dan. I’m like your infrastructure is a local problem. If your bridges are an issue, find out who you must communicate with to get them fixed safely. Start local then move to county and state.
Do you sincerely believe that nobody has tried over multiple generations of decay? After witnessing all of the rigged elections and corruption to the point where local authorities are outright ignoring the federal government not to mention their own constituents, do still believe it’s as simple as “go communicate with (sic) to get them fixed safely”? If so, you are either not paying attention, hopelessly naive, or misdirecting. Enough with the excuses. If the federal government can afford to give $20 billion to Argentina, then it can fix the school buildings and bridges. AMERICA FIRST.
Currency swaps are not gifts.
And Ronin are disgraced Samurai, selling themselves to whatever crook will pay them.
Interesting choice of a moniker.
First off the Constitution and Bill of Rights take precedence for without them we have no “America/USA” and contained within is first and foremost the First Amendment: the freedom of speech. This also includes the right to criticize our politicians, judiciary and even our president. Ronin is correct there are many things in our country that need fixing and if he feels that the president is not addressing issues that are his concern and fall within the broad area/idea of the “America First” that is his right. I support his view that President Trump needs to start focusing energies and monies directly into areas that will drive our economy in a more immediate manner.
The monetary effect of trade tariffs while a brilliant device to warm the engine of the economy seem a bit too slow and indirect to give it what it really needs: increased employment and more immediate cash flow. I’m not an economist or anything of the like but I do run a business that depends on these things so this I do know.
Criticize if you have a point to make but don’t devolve into name calling then you are only falling to the level of the opposition.
School buildings are usually built and maintained by your local school district or state, depending upon which state you reside. In Texas, it is the local independent school districts (with very, very rare exceptions). The baseline school tax goes to the Maintenance and Operations general fund. The facilities are almost always built or renovated using general obligation school bonds which are on the ballot then are paid for through debt service taxes on top of the M&O.
Most school construction bonds in Texas are guaranteed by out AAA-rated Permanent School Fund.
Sports facilities are often funded through revenue bonds.
The federal government’s outlays to school districts are mostly for programs. The federal school lunch program is huge. Keeping school construction as a non-federal pursuit insulates the federal taxpayer from the foolish risks and corruption that can occur. I don’t wish to be taxed to pay for the palatial aspirations of local school board members in another jurisdiction.
We have seen the deterioration of K-12 outcomes since the federal government (Bush family) became involved in the curricula. Experience shows us that when the federal government gets involved, education devolves.
The first clue is 100+ year old buildings, so large old cites that are potentially blue.
My next though is monies for a high speed train foundation that crosses 1 street / highway way out west. How much was that?
I can’t imagine where the monies went to repair & replace things as necessary.
.
.
And as long as Argentina does not go the way of Venezuela, we are making money off of the structured interest payments they will be making to us. Perhaps we can even sell more USA made products there to boot.
There is no high speed train here nor are there any plans for one. Now you’re just making stuff up instead of addressing the real issue—why is the federal government prioritizing Argentina or Ukraine or Israel or whichever foreign country we are bailing out today over American citizens?
“There is no high speed train here nor are there any plans for one.”
My point exactly, when there ARE plans for federal money what the funds were designated for never gets built and the money evaporates permanently never to be returned to the feds.
“Now you’re just making stuff up instead of addressing the real issue”
So according to you the scenario above never happened? It in fact did happen, to the tune of 2.7 Billion already spent out of 7 Billion allocated. (I have more examples)
“why is the federal government prioritizing Argentina or Ukraine or Israel or whichever foreign country we are bailing out today over American citizens?”
As for Argentina we the taxpayer are likely to get our money back with interest with the Trump administration deal.
Ukraine was started with the O’Biden admin as a intentional grifting operation to steal from the taxpayer with backing from all congress critters that were back door receivers from the grift that Biden already had set up before he was installed since he was VP in the prior administration.
Israel buys billions of $$$ worth of Arms from us so I believe we get most if not all of our money back plus profit. We have been involved in this for more than 20+ years.
Worse case scenario for Israel is the money is spent for our arms which supports high paying profitable industries in the MIC so all the money stays in the USA to begin with.
Blue city in a battleground state with an underreported amount of Trump support that routinely gets disenfranchised via our rigged elections (not that it matters because even the Leftiest of Left Californian town deserves our tax dollars more than Argentina). And enough with the excuses. We shouldn’t be giving money to Ukraine or Israel or Argentina or any other foreigner until American citizens are taken of first. AMERICA FIRST.
Actually No Leftist No politician for that matter deserves Our Tax dollars. As for Argentina
1. Its a currency swap not a gift.
2. It is not Rawanda.
3. It’s in our back yard
4. Currency support is a exponentially cheaper then Iran Contra was in money or prestige.
5. He is facing an election where he is wildly popular with his people and the replacement team for air america.and.it war machine backers are making a play to crash the currency.
Any questions?
Thank you!
Yes. Why do you (&many others) continually use the word “then” in place of the word “thAn” in your sentences, when it changes the whole meaning of the sentence?
You will not give your city and sound a lot like a Bot. Out East near Denver.
We The People should demand elimination of the Federal income tax and forbid redistribution of tax monies from the Federal government to the States. State governments largely duplicate the Federal government; let them run, regulate and fund themselves. Let the Federal government go back to funding itself via tariffs and by begging the States for funds.
I largely agree with you but…
While people love to engage in FEMA hate fests, FEMA is our risk pooling mechanism for catastrophic weather events. It originally was set up to address wildfires. Now, the flood insurance program (from which homeowners are billed an annual premium) is a function of FEMA.
FEMA relief funds other than flood insurance payouts are going more and more to the states for administration and distribution. That should work better since there is better local and systems knowledge, unless the top administrator in the state is a Bush such as George P.
Just a guess, but are you in Colorado, or maybe CA? I don’t know of anyplace more corrupt and unresponsive to the people than CO, although CA taught them most of what they know.
Who knows if this is true or just hyperbole? But, what is true, is that local government always gets a pass by it citizens. Citizens are too ‘invested’ in their communities. It’s always someone elses fault or responsibility. 🙄
Why are we still pretending on CTH of all places that our elections aren’t rigged and institutions aren’t corrupt? Do you really believe that not a single person in my major metropolitan area has exhausted all legal means of trying to fix these basic problems?
I read your original post, and then have read your replies to those who have responded. I actually marvel at your ability to miss the forest for the trees.
Serious question: If elections are rigged, and institutions corrupt, what makes you think that any federal monies allotted to your community for infrastructure improvements would actually make it to the intended project?
I think CTH is not a place where people are naive about rigged elections and corrupt institutions. 🙄 What is the name of your ‘major metropolitan area?
The Land of Oz.
ROFLOL!!!!
Crickets. Funny that
Of course not here in Michigan politicians run on fixing the roads and bridges. Thet use the mandate to get new state tax revenues to do it.
Unfortunately the roads we drive on all the time are county and municipal and they get little or none of the state revenue. So 4 years latter the opposition runs on fixing the roads and bridges.
Detroit is two cities the folks who work in the high rises and suburbia and the poor bastards who actually live in the hell hole. Why? Because they don’t vote instead they are voted for usually at a rate north of 100% and all their votes are.cast for Democrats
So does the Tree House get the corruption sure. BUT what does that have to do with buying Argentinian dollars?
What is your major metropolitan area?
Each item you’ve listed are state / local issues… not federal issues. Please do some research… thank you for your attention to this.
Absolutely true. Other than the federal/interstate highway system and associated bridges or federal installations (often with a politician’s name on the building), not much infrastructure is federal.
It is a bit difficult to fault Ronin for not recognizing the boundaries in the way infrastructure and publicly-funded facilities are built and maintained. I have even heard multiple politicians speak of the need for the government to spend more on railways. Those politicians incorrectly seemed to think that the rails are federally owned and maintained. Amtrak, but little else, is federal. The railroads got their big federal boost in the 1800’s when they were granted astonishing amounts of land in order to populate and develop the American West.
Physical borders are important. So are fiscal boundaries.
Just take a long drive across several states on the interstate system and see how badly that system is in need of repair!!! We spend billions on wars in the middle east that accomplished absolutely nothing at the expense of our own country!!! Stop sending billions to the Ukraine and start repairing our bridges, roads and inner city schools!!!! JMO
Gee I wish we could go back 100 years when the air-conditioning in those schools worked SMH
Your local problems are just that. School District, and local gubmint.
There is absolutely zero analogy.
I understand what you are saying.💔
Most Americans in some States look around
and see what is happening in their neighborhoods.
And it really doesn’t matter if it is a State or County
responsibility….all they are seeing….and experiencing
is ….they live in USA.
And no matter whose fault….it’s pretty depressing when you
see money being sent to Foreign countries.
💔 💔
It all boils down to……
🇺🇸 🇺🇸 America First 🇺🇸🇺🇸
How exactly at this time, when my country which is
Trillions in debt….does bailing out Argentina improve
the quality of life for American communities and people 🤔
Everyone is talking about the money we saved by RIF.
Yeah, it’s a great idea. 👏
But then to to turn around and basically then immediately
turn around and give money to a Foreign Country with a
decades worth of financial problems? 😳😳🙄🙄
But they do get solid “education” on how to change their sex and hate America.
They did a deal with China for their soybeans that let the Chicoms nix buying American. Farmers are justifiably big mad as they have harvests sitting.
Why would ANYONE want to buy our GMO glysophate-soaked grains that have been proven to cause health problems in humans and animals?
Not disputing your assertion either way. The point is that China was looking for a weapon and the lifting of export tariffs by Argentina gave it to them, to the detriment of markets for US growers who previously sold to China in large quantities.
We aren’t “giving” $20 billion to Argentina. It’s a currency swap. Go to the Investopedia link kindly supplied by My Magic Wand.
This is an investment that is quite likely to result in a sizable profit for both countries.
Just as sizable will be the number of trolls this post from Sundance will draw. Realize up front that these trolls are attention seekers who are desperately trying to bring meaning to their own lives.
You could have posted without that sanctimonious last line and still contributed to the discussion. Not everyone who dislikes the $20 billion is a troll. Uninformed or misinformed perhaps, but not necessarily a “troll.”
One must admit though that the AI trolling is becoming a nuisance. I think that is causing frustrations to rise.
A lot of long term intelligent posters may be feeling buried in the noise.
I like a man who’s not afraid to speak his mind Wanna get a Beer Bruce.
I love cold beer!
What was sanctimonious about it?
Isn’t “sanctimonious” the name of a Florida governor? I certainly wouldn’t want to be called that.
Martin Armstrong gives a detailed reply in this article entitled, “Is the US Bailing Out Argentina?”
FTA: Answer: It’s unclear how much of the $20 billion will actually be used, or whether all of it will go to the swap line vs. debt purchases vs. standby credit. There is a risk that Argentina may default, restructure, or be unable to repay. That raises questions about how the U.S. would recover or manage losses.
The U.S. is coordinating with the International Monetary Fund (IMF), which already has a large exposure to Argentina. Yet, Argentina is currently the IMF’s largest debtor with an alarming $41.8 billion owed.
The $20 billion swap line to Argentina’s central bank is a currency swap—it is not a bailout, although there are political motives. China could be the one stepping in and bailing out Argentina, ruining America’s alliance, and propping up the yuan over the dollar, and Washington does not want to see Argentina look toward non-dollar solutions. Beijing has strategically used debt diplomacy in recent years to expand its influence. In fact, China provides more in loans to emerging economies than the World Bank.
…….
The US is now simply standing in line beside the IMF when the time comes to restructure Argentina. The default risk remains valid. Confidence in the dollar must remain high. This is not charity but an option for the US to maintain dollar dominance in Latin America.
https://www.armstrongeconomics.com/international-news/latin-america/is-the-us-bailing-out-argentina/
Thank you
You’re welcome.
Ditto.
Geopolitics. US needs to shore up the allies in the Western Hemisphere. This is our back yard. If we don’t keep it nice and tight, then China will. Don’t believe me? See how much influence China has in Venezuela, Cuba, Panama and other Latin American countries through “infrastructure” contracts.
Totally agree. Visit Panama or Costa Rica or just about any Central American country and you have little stores and supermarkets galor owned, operated and remitting monies back to the Big Panda!
They get their foot in the door through economic development and a ton of visas go to Chinese citizens. The selected Chinese were taking immersion classes speaking the native tongue, get the visa, land in said country,, and bingo they are buying property (existing stores) and Big Panda is muy feliz!
👆🏽this is what will happen in Argentina if the US doesn’t step up and keep the Chinese at bay. Like it or not. Strategically the Chinese have, make, print capital at the cyclic rate. There are no boundaries to diplomatic Chinese satanic ingenuity around the world. If they are not buying their way in, they are making trade agreements with any country that has shown a propensity to restrict US involvement. Big Panda Not stupid. Big Panda eat you alive if not careful. Spit
I am struggling to reconcile the economic miracle Milei wrought with chainsaw budget cuts to Argentina’s budget and coming hat in hand needing a bailout. I don’t understand it.
Milei isn’t trying to heal a cut the socialists created in his country for decades. He’s trying to prevent an axe wound from becoming an amputation. We need Argentina to succeed, and not fall into the same kind of governments Venezuela, Brazil and Colombia have that are hostile to the right populist agenda.
Yeah, a lot to understand. I just remember Melei asking to join NATO and kissing Biden’s butt. (He was no Victor Orban,) So, when he was doing that it was hard to see him other than anything but a Globalist / DeepState appendage with a Libertarian/Conservative flavor. Brazil is kind of messed up too… Biden and the US IC engineered Bolsonaro’s defeat and basically sprung Lulu from jail and made him President again. But now that Trump is demanding they give Bolsonaro a fair trial, the Brazilians are embracing CIA selected Lula. Go figure. So, I am kind of clueless trying to make sense of it and must trust DJT’s judgement here.
From Armstrong Economics regarding the swap and relevant to this discussion:
https://www.armstrongeconomics.com/international-news/latin-america/is-the-us-bailing-out-argentina/
Drop in the bucket.
Do we get military bases out of this deal?
Sometimes a guy needs to write the article and not read the comments. Many are wore out thru the news that is going on. An entire decade was spent on Viet Nam era politics now 8 wars have been put down and people are still not happy. I dont think the human flesh was intended to move at the rate of the spiritual war going on around us. We are in the Quickening where the Veil is being lifted between the supernatural and the Physical worlds. There is too much to comprehend by the mortal brain. TRUST in he who defeated death for your SOUL. God Bless.
We should’ve demanded full transparency related to Nazi activity after World War II, including any and all information on Adolf Hitler and other top Nazis who may have hit out there, etc., etc. should’ve used that leverage for that
Buy bitcoin.