|
|
|
|
|
|
by jauntywundrkind
237 days ago
|
|
|
The connection is very clear. Amazing Krugman piece. There's still a little bit of a why question to me? What will Citrone or anyone else ever be able to provide back, since they all know this is going to fail, & are using this loan to jack up prices & exit their positions? Maybe there's some more elaborate way this will enrich certain American cronies. Maybe. But I tend to think the answer comes if we look back 80 years. A lot of bad evil people needed a friendly state to run to after WWII ended. Today, beyond just being friends-of-an-(evil-doing)-feather together with some other exploitative public-services-destroying extremists, part of me thinks, maybe perhaps: Argentina is being set up as a new exit, a new place to flee too, when justice comes a calling. |
|
|
> Citrone, the co-founder of Discovery Capital Management, is also a friend and former colleague of Bessent—a fact that has not been previously reported in US media outlets. Citrone, by his own account, helped make Bessent very wealthy.
I think it's simply that Bessent can give his buddy (Citrone), who made him (Bessent) "very wealthy," a bailout at zero cost to any of them. $20 billion is really insignificant for the US government, even if a gross waste of tax dollars, and they know there's not going to be a single repercussion.
> Argentina is being set up as a new exit, a new place to flee too, when justice comes a calling.
I too have been thinking that lately. It wouldn't be ideal for any of them but, from their perspectives, it surely would be better than the alternative.