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Economy

peppertree

(22,850 posts)

3. Yes. Trump basically gave his pal Macri history's largest campaign contribution.

Reply to Farmer-Rick (Reply #1)

Wed Jan 12, 2022, 01:05 PM

Jan 2022

A $57 billion, no-questions-asked credit line (of which $45 billion was borrowed) - leaving Argentines with the tab.

Ultimately, voters kicked Macri's mafia ass out anyway.

Where did the money go? A full $39 billion was used to finance dollarization of peso assets, and their offshoring.

And unlike the U.S., Argentina (like most countries) doesn't have a Federal Reserve that can just print dollars out of thin air to cover any crisis - like they did after Bush's 2008 crisis, you'll recall.

It's the biggest Trump scandal nobody's heard of.

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Highlight:

Joseph Stiglitz: Argentina's COVID Miracle [View all] peppertree Jan 2022 OP

Well who could have guessed????? Farmer-Rick Jan 2022 #1

Yes. Trump basically gave his pal Macri history's largest campaign contribution. peppertree Jan 2022 #3

I hope it holds up, right now they have by far the worst Covid new case rate in Latin America progree Jan 2022 #2