Argentina continues to demonstrate the right way to stand up to colonialism

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Former Member

The financial predators in the City of London, various European capitals, and on Wall Street, are in a state of panic over Argentine President Cristina Fernandez's bold, April 16 re-nationalization of the privatized YPF oil firm, 50% owned by Spanish oil conglomerate Repsol.

Such an assertion of sovereignty is not allowed, the Financial Times bellowed in at least five articles today. Josefina Vazquez Mota, presidential candidate for Mexico's ruling PAN party, put it best: the expropriation "goes against globalization's rules!" Britain's Reuters huffed that "international patience" with the Argentine President had been wearing thin even before the expropriation, because of her "rule breaking policies." Get the message?

British and other financial media were filled today with dire predictions about impending disaster for Argentina, as a result of the expropriation, while the Spanish Foreign Ministry hauled in the Argentine ambassador to deliver a scolding. Bloomberg howled that the move against Repsol followed lawfully from Fernandez's 2008 nationalization of private pension funds, and tapping Central Bank reserves to pay debt. Consequences of this action "will be huge," the Financial Times warned. "Business investment will be paralyzed...Argentina also faces diplomatic isolation from the European Union, the U.S. and Mexico."

From Spain, Premier Mariano Rajoy huffed and puffed that that Argentina's "illegal" behavior will not be tolerated, and then flew off to Mexico to a World Economic Forum meeting, where he said he would discuss retaliatory measures against Argentina with other Ibero-American leaders. Mexican President Felipe Calderon, true to form, announced that the Argentine President's action was "regrettable. No one in their right mind would invest in a country that expropriates investments."

Repsol president Antonio Brufau is threatening to sue Argentina at the World Bank, and charged that Fernandez only took this action to cover up the "economic and social crisis she is facing." Her illegal action "will lead the country into chaos," he darkly intoned. Various EU and EC officials are expressing "disappointment" over Argentina's action and threatening to retaliate in some way as a show of solidarity with Spain.

But from a Europe that is teetering on the edge of the abyss, and a Rajoy government that is becoming more precarious by the minute — it's not clear how much longer Rajoy can last — such threats would seem rather empty. Thus far, the Obama administration has said little, and the State Department is reportedly "tracking" the situation.

http://larouchepac.com/node/22399

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Former Member

First, Argentina is a colonial authority. The rulers are whites who denied native people live in Argentina until recently.

Argentina's credit collapse was caused by factors no different from what Greece or Spain currently endures. Since its default it has not been able to restore its credit worthiness status.

Christina has been a placebo in their arm and now the reality of a financial squeeze she resorts to clutching straws, nationalization. That wont help the economy

4/20/124:20 PM

Former Member

Originally Posted by Stormborn:

Argentina's credit collapse was caused by factors no different from what Greece or Spain currently endures.

Argentina's collapse under Menem was caused by Menem's subservience to the City of London/Wall Street crowd which you adore. He privatized everything just as the banks and the Brits demanded, went with the whole neoliberal package, and the nation went down the toilet. The Kirchners have defied those same interests, with spectacular success.

4/20/124:46 PM

Former Member

You and that knuckle headed clan in Larouche PAC need to be on Thorazine. They lived outside their means and suffered for it. You freaks see the brits in everything when the are themselves instruments of the international market place

4/20/124:50 PM

Former Member

You apparently have the poor residents of the UK confused with the imperial side of things, what they call "The City," which is a private, multinational cartel. That's just one of many things about which you are confused.

4/20/126:55 PM

Former Member

Originally Posted by Henry:

I do not mind being called confused by a disciple of Larouche, the pre eminent nut case and grand vizir of conspiracy theories this side of the 20th century.

4/20/127:42 PM

Former Member

Stormfront, you seem to have run out of ideas, and are reduced to simply reciting your mantra. Consider this: after 60+ years where your venerated neoliberals have dominated policy in the North Atlantic bloc, those nations are now bankrupt and left only with the option of increasingly wanton use of military force. The nations which have defied the neoliberal diktats, such as Argentina and China, are on the ascendency. Don't you think it might be in your own best interests to reconsider your policy of fellating the neoliberals?

4/20/129:29 PM

Former Member

While the City of London and its allies continue to threaten Argentina with reprisals for the expropriation of the Repsol firm's 51% holdings in the formerly state-owned YPF company, the Argentine government is moving swiftly to gear up production of oil and gas in order to "begin to reverse [Repsol's] declining [production] in recent years so as to recover energy self-sufficiency."

Planning Minister Julio De Vido and Deputy Finance Minister Axel Kicillof — the interim co-chairmen of YPF — announced yesterday they intend to drill and repair at least 1,000 wells, and have already held several meetings with regional managers of key oil exploration and development sites, and the heads of oil workers unions, and have reviewed the production systems of the three main basins in which YPF operates, in the regions of Cuyo, Neuquen, and the Gulf of San Jorge.

The necessary machinery and manpower are being mobilized to achieve announced goals, which include boosting oil production by 2 million barrels by December, 2.5% of current annual production, and increasing refinery operations to 93% of capacity at YPF's La Plata facility. To ensure normal functioning of the company, De Vido and Kicillof have also met with executives of the banks that worked with YPF. New Argentine YPF management is already in place.

Interestingly, foreign oil companies don't seem to be paying so much attention to dire predictions of how the "investment climate" will be affected by President Fernandez de Kirchner's assertion of national sovereignty. Executives of the French oil company Total, the country's primary natural gas producer, and of the Ibero-American energy group Andes Energia, met with De Vido and Kicillof and reported that they wanted to continue operations in the country and would be increasing their domestic production of oil and gas.

Against this backdrop of Argentina's drive to develop its physical economy, "financial experts" who speak for Wall Street and London continue to flap their wings, crowing that Argentina "will be shunned" and made an "outcast" and "pariah" at this week's annual IMF meeting, for engaging in "renegade" behavior.

Spain's Foreign Minister Jose Manuel Garcia-Margallo also boasted today that he has secured U.S. agreement to collaborate with Madrid in crafting retaliatory measures against Argentina. Garcia-Margallo said he spoke with Hillary Clinton at a NATO meeting in Brussels, and that the Secretary of State told him the Obama administration opposes Argentina's expropriation of Repsol's holdings in YPF. According to the Foreign Minister, the two governments, along with ten other European governments, will work through the bankrupt IMF, World Bank, Club of Paris, and Group of 20 to find ways to punish Argentina.

While the latter news is splashed all over the Spanish media, State Department spokesman Frank Toner today told reporters who asked about it, that he didn't know whether Clinton had discussed this issue with Garcia-Margallo. "I can't confirm that [the issue] was raised," he said. To date, there are no explicit statements from Clinton, whose past relationship with Cristina Fernandez has always been warm. It remains to be seen whether Nerobama can pressure her into responding more aggressively against Argentina.

http://larouchepac.com/node/22426

4/20/129:36 PM

Former Member

Originally Posted by Henry:

To the contrary; it is the LaRouche freaks who of necessity must reduce all things ( and these freaks repudiate reductionism!) to to one salient magnetic core ie the British oligarchy is making fruit cakes of the rest of us and only Laroucehe stands between us and the darkness.

Only the grand Vizir Larouche can see through their guise and unless we follow his lead unquestionably as our piper we will be forever in bondage. You nut cases can take a walk.

Larouche is has you freaks like the Hara Krishna begging for bread which he munches on as his source of income since he has never used his grand intellect to even open a cake shop.This big mouthed grand master economist never produced a lump of kneaded clay!

Meanwhile he pretends he alone is the last bright light of the world and knower of all disciplines to whom we must bend the knee. You can follow him foaming at the mouth and seeing all the ill of the world in terms of some nebulous British oligarchy implanted is you chose. Tell me when the freak is in town and I will be there to greet him with my rotted tomatoes!

China is on the rise because America bootstrapped it. I was there in '82 and it was my cleared vision of what a medieval reality would be like. It is where it is today because it sees benefit in liberalism albeit only as it suits its communist vanguard party. It still suffocates internally because it thinks it can ( as Larouche does by the way) micro manage lives and dominate decision making centrally.

I like my world with out the elitism of the Trotskyite troglodyte Larouche; tally ho!

4/20/129:57 PM