Argentina’s tumultuous relationship with the Worldwide Financial Fund (IMF) and the ensuing cycle of debt, financial crises, and monetary instability. In the course of the Nineties, Argentina applied IMF’s neoliberal reforms, which initially appeared to stabilize the financial system however finally led to a extreme disaster in 2001. After defaulting on a $95 billion debt, Argentina confronted the implications of ruined credit score and have become a pariah on the world stage, permitting Western powers to extract assets by means of personal firms.Chris Jeffries additionally critiques the IMF’s coverage conditionality, which frequently comes with austerity measures and privatization insurance policies, resulting in unpopular taxation and the switch of public belongings to personal firms. Argentina’s financial system has been closely influenced by these interventions, making a debt lure. Jeffries additionally touches upon the function of the IMF and World Financial institution in Kenya and Africa’s debt, with a major share being owed to those establishments. McCrory questions Argentina’s choice to tackle a big IMF mortgage regardless of already having important debt, suggesting that the nation could have hidden assets or that the IMF and the West can not afford to let Argentina default on its debt because of the disruption it could trigger to their enterprise mannequin. Mike then discusses the potential penalties of a no-holds-barred free market, utilizing the instance of societal decay depicted in “The Wire.” He emphasizes the significance of collective energy and authorities regulation to create infrastructure and guarantee peace and order in society.
0:00 – Introduction to Argentina’s financial disaster
1:23 – Historic context of Argentina’s financial system
2:45 – Argentina’s relationship with the IMF begins
4:10 – The 1976 navy coup and its financial influence
5:38 – Neoliberal insurance policies applied within the Nineteen Eighties
7:15 – Hyperinflation disaster of 1989
8:42 – Introduction of the Convertibility Plan
10:20 – Brief-term financial growth within the Nineties
12:05 – Rising debt and financial vulnerabilities
13:50 – The 2001 financial collapse
15:30 – Default on international debt and social unrest
17:15 – Restoration interval and commodity growth
19:00 – Return to borrowing from the IMF
20:45 – Mauricio Macri’s presidency and financial insurance policies
22:30 – Document-breaking IMF mortgage in 2018
24:15 – Failure of IMF-backed insurance policies
26:00 – Alberto Fernández’s administration and debt renegotiation
27:45 – Ongoing financial challenges and inflation
29:30 – Critique of IMF’s function in Argentina’s financial troubles
31:00 – Conclusion and classes realized
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Almost every Presidential assassination happened because of their opposition to a privately held"Federal Reserve"banking system, starting with Abraham Lincoln.
Then, it was McKinley and Garfield. They knew the dangers of currency manipulation, speculation and putting public funds in the hands of a few wealthy industrialists.
His government archived a positive gdp something not done in countless years In argentina.
"There are two ways to conquer a country. One is by invasion, the other by debt." – John Quincy Adams
Argentinians are getting conquered by her "friends" who are turning Argentinians into milk cows which can be forever milked…
status quo cultists
flippant moral outrage over pigeonholes
First time listener, looking forward to your ICJ conversation
I live in UK I only drink tea, boiled water is involved so I know it's safe
Who did vote for this clown?????😢😮😊
+ they hate black people😹
Hide the resources you have😑
it amazes me how stupid human beings can be……imagine something so terrible and drastic happening to ur country in the past, and u simply fall for it again……
Think about it, who runs the banks and who went to Argentina in the 1940s.
Just saying
Privatised – Sold .
Wait …..the new darling of capitalism 😂😂😂 this clown declared war on printing money but wants to join the greatest printing press in history, the Jew wanna be Rock star…oh dear
If you owe the bank a million, the bank owns you,
If you owe the bank a billion, you own the bank
There’s a chance the IMF could get written off when the BRICS bank gets going;
Short gambling on the US acting so bad the BRICS decides to just push it in a hole
they borrow more, because it's about indentured slavery. once the debt pile has become so huge that the country will crash if is paid and if it isn't paid, they own the country and can demand the government do whatever they want.
Just like how loan sharks make women into prostitutes by debt trapping them and then make more money. Japan is perfect example of this kind of slavery debt trap.
At that point the 12 tribes cement their control by privitising the banks, financial institutions and everything the country has. And then they increase taxes and print money to pay the 12 tribes their profits.
This video betrays itself already at 1:15 when it calls the IMF an Investor in Argentina.
Very wrong slip of the tongue, the IMF is a lender and not an investor and that's a big difference.
Already anyone can see where this is going, Argentina had been granted special treatment under previous administrations to obtain loans. Argentina recently paid back a loan completing the entire process of application, approval and repayment which is unusual for a relatively undeveloped country. UMF loans are not aid which is given without expectation of repayment. If Argentina is able to execute the process again, it can lead to economic recovery by doing the things necessary to stand in its own feet. If like most undeveloped countries Argentina was to depend on aid or aid disguised as BRI projects Argentina would never stand in its own feet.
commie
Milei looks like he is escaped from a psychiatric hospital😂
Milei is the IMF
The face of a joker. Not a Smart guy.
It doesn't help Argentina, when you have a pretender like Milei at the helm.
That's a fitting pic of Milei.
Looks like Milei dream of using the US dollar as their main currency is a distant dream. He should have stayed with the BRICS.
The Confessions of an economic hitman; it is all in there, still available in Amazon.
FIXING FINANCIALISM NOT CAPITALISM
How to fix the problem of financialism
We must choose to fix the correct problem: You don’t conflate Capitalism(Rule of law – regulation) with Financialism(Absence of Rule of Law – regulation). Fixing financialism is easy. fixing capitalism is not possible. It’s impossible. Financialism is to capitalism as socialism is to capitalism: they are equally destructive
The problem is one of measuring balance sheets vs income statements of the state. (a) measure everything, (b) definancialize (c) organize an economy by competency not by wishful thinking.
There exist a simple set of fundamental laws of competency, incentive, and measurement. Fundamentally these five rules are the levers of political economy:
• You choose either arbitrary rule by man and depend on credentialed or political competency, or rule of law, sovereignty, property, reciprocity, truth, duty, and markets, and depended on demonstrated competency.
• You choose whether to use the state as the principle venture capitalist and socialize maximum gains at the cost of low returns on capital and high corruption, or you use the market as the principle venture capitalist and maximize the privatization of gains limiting corruption, or you choose something in the middle.
• You choose whether the state maximizes taxation from private performance, or maximizes returns from state investment – dividing the responsibility for capital formation between the state (long term) and the private sector (short term).
• You choose to fully account for all capital by fully accounting for costs, or you choose to account only for income (velocity) without accounting for capital, or you choose only to account for condition without accounting for income or capital.
The optimum political economy is an intermixed (not mixed) economy of distribution of labor between state and private sector, separation of the monetary flow system into citizen consumption, zero interest from the treasury, liquidity distributed directly to consumers, and business credit outside the state. And to ‘gut’ the financial sector by moving it into the state, so that returns on state liquidity are used for redistribution by the state, while at the same time as maximizing national competition in international markets.
Now, everyone will hate the truth, but the national socialists solved the problem as is china today
They hate women, love the video's ❤❤❤.
I don’t know if ur r gonna call China loaning to African countries debt traps maybe u shouldn’t be doing this to other countries urself.
Kenny Roger's, know when to fold ❤❤❤.
I cannot find Hamster Damn, is it real show or not?
Water over here in UK is bad. And the monthly bill is high
Hahahaha. Milei has friends in IMF who will keep Argentina as a goose laying the gold eggs. 😂
Do Egypt
This country is in massive trouble
They got trapped even worse now
This is garbage. Argentina prints money, has huge inflation, goes to the IMF. You aren't forced to go to the IMF unless you screwed your own economy. Stop making excuses for bad behavior.
argentina's seigniorage is off the charts too
Great podcast! What do yall think about rhe bank of international settlements?
I had to look up.the Javier Milei ok with selling babies because i thought you were full of shit. I should have known better. Milei's answer to if he thinks it's ok to sell babies is "depende" 😂
Thats the reason why China investments in all these countries which having loans with IMF shouldn't be viewed from the optic of biases ( debts trapped or for political influences or power craving or to put the world under its knees & all these were illusory) . Why ?.
This is becos with proper economic developments only can these countries repay back their loans to IMF. Not only that, it actually enrich the economic around the world.
We know, every countries have an investments. Their bank rely on investments returns for their shareholders. The people too are seeking for some returns one way or another. Similarly, businesses as well are seeking for economic expansions & the whole process must gearing for that purposes. The investments must not rely on narrow squeezing methods for returns – how long could you squeeze the juice out of a fruit if there isn't anybody sowing the seeds.
We , as an investors around the globe must not only rely & strive on limited & unexpanded economic space. It is not possible for just to rely on schrinking money velocity which is constraints by inflated cost as an investment foundations & a means of returns for ever deteorating value of money. Thats not possible for economic wellbeing & directly have a bearing on human wellbeing as well.
For better world
Bang
All the US sponsored hate China media do take note of this debt trap by IMF, instead of accusing China of doing this in its B&R initiative