NEW INVESTMENT LAW AIMED AT
OPENING THE MARKETS TO ORDINARY
Interesting perspective from Andres, a reader comment:
A comment to show how some "quiet" developments in Argentina ("quiet" because they are not commented in the mainstream US press) really upset the financial markets and explain partially the animosity against Argentina in Wall Street.
A year ago, it was enacted a new investment law aimed at opening the markets to ordinary citizens, not having to pass through middle-men (brokers, etc.) and thus saving commission fees at the time of investment in the Buenos Aires stock exchange.
Departure from the US Dollar
The aim was to depart from the popular saving tool: The US Dollar. By investing in local companies and startups, people reinvest in productive activities (instead of just accumulating green papers under the mattress) and make society less dependent on the availability of US cash, which in turn depends on trade surplus and lending from international institutions.
In January 2013 Geopolitical Analysis and Monitoring wrote:
LATAM not adhering to vulture finance system dictated by IMF, World Bank and Corporations
MOODYS, S&P and FINCH oppose "University rating agencies"
Thus Universities could create their own rating agencies and participate in the same market than Moodys, S&P and Fitch. These 3 agencies didn't like that, since it could turn into serious threat on their latitude on providing ratings based on political or ideological factors, as is happening now with Argentina (low grades despite the fact that ARGENTINA can perfectly pay their structured bonds) and Southern Europe. (Some of these southern countries have better ratings than Argentina but are less likely to be able to pay their obligations in the long term).
What would happen if, 5 years from now, American universities start reporting the success of Argentine universities in providing sound credit evaluations, thus claiming a part of that pie from Wall Street? US universities can perfectly fulfill the role of credit rating bodies, since they mainly need access to databases and a crew of young university students.
When ARGENTINA was the “sunny boy” of the IMF under president MENEM, who unquestionably followed IMF doctrine of privatizing state assets......................................
WHAT HAPPENS WHEN BANKS CONTROL THE ECONOMY?
CORPORATOCRACY...... ARGENTINA’S DEFAULT IN 2001, WHICH MANY ARGUE WAS CAUSED TO A LARGE EXTEND BY THE IMF.......
INSIDE JOB RATING AGENCIES
IMF: DESTROYER OF NATIONS?
IN JULY 2011 Geopolitical Analysis and Monitoring wrote: US COURT RULING ON ARGENTINE BOND DEFAULT
RATING AGENCIES, THE FEDERAL RESERVE, THE PARIS CLUB, THE IMF, brokers and speculator