Friday, July 18, 2014

Oh lookee!.. as US courts back US hedge fund weasels, China steps in with an offer Argentina can't refuse

The mere thought that American courts can dictate the finances of sovereign nations is a throwback to the colonial era.

The Singer v Argentina case is almost two hundred years removed from France extorting 90 million francs from Haiti after the slaves declared their independence.

Paul Singer doesn't realize that times have changed.

Slaves are still slaves in his world. Singer has left no stone unturned and no palm ungreased in his quest to turn his Argentina bonds, bought for pennies on the dollar after the default of 2001, into full face value plus interest!

That would turn his hedge fund's $48 million investment into a billion plus!

That's how the richest get even richer these days. No contribution to the greater good, no jobs created, no communities supported... pretty much just straight-ahead theft from the people of Argentina.

And so far the US court system has backed him every step of the way.

It may be unjust and immoral, but Singer will be celebrated in the financial press as a great capitalist hero if he can pull this off.

But here come those commie-capitalists to spoil the party. China just inked a deal for 7.5 billions that by-passes the Singer controversy and even the prospect of another Argentine default.

Hedgie Singer might want to hedge his bets by going long on the Yuan.

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