Argentine peso on the way to above 70

[KDnR]

If there is no liquidity in the market, then the peso is somewhere between dead to worthless right now.

Thus, nothing new in argentina.

Admin, you are right, the peso is somewhere between dead to worthless. And nothing new about that in Argentina.

People first have to experience the denial stage, the hope stage and so on, regular process. Big boys take time to play their games, maximizing their profit.

Well, the last time in the Kirchner's administration, one particular voucher fund made a handsome profit.! the $27 billion hedge fund founded by Paul E. Singer the most astute of all vulture fund that bought Argentine bonds from its liquidating investors for mere few cents to a Dollar, ransacked handsome billions when settled with the current administration.

How one hedge fund made $2 billion from Argentina’s economic collapse..NEW YORK –When Paul Singer’s Elliott Capital launched a 15-year battle to wrestle billions out of Argentina for lapsed debt payments, it wasn’t the first time the hedge fund had taken on a foreign government.

But few engagements have turned into such a high-profile international scuffle.

In order to collect the decade-old debt, Singer’s fund tried to claim money deposited by the country’s central bank in the U.S. and Europe. And it sought to seize two satellite launch contracts between Argentina and SpaceX.

Elliott Capital’s arguably most audacious scheme came in 2012, when the Argentine navy’s proud three-masted tall ship pulled into the port of Tema in Ghana with more than 250 crew members on board, recent graduates of the Escuela Naval de Argentina participating in an annual training session. The Libertad was worth a fraction of what the hedge fund claimed that it was owed, but the 100-meter ship quickly became a chip in an international fight over billions in old debt. https://www.washingtonpost.com/news/bus ... 54a7fe4179

HybridAmbassador, good article, thanks

[KDnR]

Just checked the closing price. It is settled at 39.93, highest close of the day ever. I thought they will push this a bit higher, above 40 today. But anyway, classic powerplay, to finish the week at the highest point ever.

Daily and a weekly chart will strongly suggest higher prices next week. Those who are holding a position against the dollar will have some time to reflect and realize that they are about to have a haircut next week. Depressed, they will read articles over the weekend about Argentina for sure going into recession, with supportive examples why. (nothing new about that but they will push this anyway) By Monday morning they will be convinced that its time to hit the exit.