patrick.net

Bd6r says

https://twitter.com/JMPresidente23/status/1739531107299656005

https://www.coffeeandcovid.com/p/too-few-regrets-tuesday-january-2nd

Africa News ran a story yesterday headlined, “BRICS expansion: five countries join ranks.” For some reason, U.S. corporate media has completely ignored the story.




Yesterday, Saudia Arabia, Egypt, the United Arab Emirates, Iran and Ethiopia officially joined the alternative-currency BRICS group of nations. (They were approved to join back in August.) Argentina was also slated to join, but — fortunately for America — Argentina’s new chainsaw-wielding, US-aligned, “far-right” president Javier Milei cancelled the country’s BRICS application last week and bowed out. (Is that why the CIA let him win?)

Could be.

I don’t really see how BRICS threatens US of A or what is the benefit to Argentina in joining it. The two serious players - China and India - hate each other’s guts and claim each other’s territory.

The US weaponized the dollar and under Biden we had a period where the dollar did not come close to maintaining its value.

Everyone holding Treasuries is a little concerned about Congress just printing a couple trillion one day to cover one of our Too Big To Fail Banks failing, or for further Green initiatives or Wokey/Doke student loan cancellation, Black reparations or "free" money for disadvantaged Gen Z'ers to be able to buy homes.

We're already running deficits of about $2 trillion per year and we haven't even looked at Pension bailouts yet.

Everyone is looking for something that will hold value as faith in the dollar is plummeting.

Misc says

Everyone is looking for something that will hold value as faith in the dollar is plummeting.

Yes, as you don't want to be holding cash unless it is appreciating or earning at least 1% above annual inflation. Putting cash under the mattress is one example to avoid.

Real assets like property and silver coins will protect against a weakening dollar. Even a S&P 500 fund is a safe haven also.

I read that Russia holds a lot of Indian currency after India buying oil in 2022 and 2023. Russia needs to turn around and buy goods with that India currency like whatever India exports such as electrical equipment, sugar, etc.

,

https://nitter.cz/JMPresidente23/status/1744864544583815189#m
Things that we have no idea for what they are used

Bd6r says

I don’t really see how BRICS threatens US of A or what is the benefit to Argentina in joining it. The two serious players - China and India - hate each other’s guts and claim each other’s territory.

China and Russia dispute territory as well.

https://open.substack.com/pub/someunpleasant/p/one-month-in

Rental Prices drop 20% as Milei deregulates housing market.

https://www.cronista.com/negocios/murio-la-ley-de-alquileres-ya-se-duplico-la-oferta-de-departamentos-en-caba-y-caen-los-precios/

Bd6r says

Things that we have no idea for what they are used

Ventilation, a loop ones wife can slip her long nail into more easily to drag your ass out of the electronics section guys hide out in while she "shops", reduction in electrical noise, the over through of the US of A.

https://betonit.substack.com/p/will-milei-make-argentina-great-again

On Property:

https://www.coffeeandcovid.com/p/swiped-thursday-february-1-2024-c

I’m not sure what to make of this story. Barron’s covered it in an article yesterday headlined, “IMF Authorizes $4.7 Billion For Argentina After Milei's 'Bold' Reforms.”

In a statement, the International Monetary Fund’s chief Kristalina Georgieva, if that’s her real name, praised Javier Milei's "bold actions to restore macroeconomic stability and... address long-standing impediments to growth." Accordingly, the IMF approved a $4.7 billion “aid program,” which is probably an onerous loan with tons of strings attached, but it signals official approval of Milei’s anti-socialist reforms. ...

I was surprised at the news of the IMF loan, since I expected global organizations like the IMF would oppose Milei’s anarcho-capitalist reforms. But something in the zeitgeist seems to have changed. Maybe, revealed by the harsh light of potential post-pandemic financial collapse, socialism is finally looking unaffordable.

I'm suspicious of anyone the IMF supports. This is not a good look for Milei.

Article for above:
https://www.infowars.com/posts/milei-secures-argentinas-first-budget-surplus-since-2012-after-only-one-month-in-office/

Who knew not giving people handouts is good for the economy? Well, if you read Ben Franklin, or use common sense, everyone...

And just after he met the tiny hats, too. Oh no, that's not a connection puzzle trimmers want to be made.

AmericanKulak says

And just after he met the tiny hats, too. Oh no, that's not a connection puzzle trimmers want to be made.

Huh?

Tiny hats - Zionist Jews?

stereotomy says

Tiny hats - Zionist Jews?

HeadSet says

Huh?

Yeah, Milei met with the tiny hats and the Fuentes/Dawson crew was all opining that he got his marching orders from the Khazarim Kabal.

So Milei went and slashed the shit out of the government and cut spending.

But they won't make a connection between meeting with tiny hats and doing a good thing, because it counters their Narrative.

Slashing government spending curtails government power. You don't associate with foreign entities, or carry out their orders to reduce your influence. Logic is necessary, otherwise it's just a theory, NOT a conspiracy.

Patrick says

Nooooooooo!

All the US government has to do to balance the budget is to have a freeze on spending increases for about 4 years. With inflation fuelled income tax receipts, the budget will balance at that time.

Better: cut 10% off the top as well.

Of course, DC area would have a few hundred heart attacks.

UkraineIsFucked says

All the US government has to do to balance the budget is to have a freeze on spending increases for about 4 years. With inflation fuelled income tax receipts, the budget will balance at that time.

Why would a central government that prints money out of thin air give a rats ass about a balanced budget?

Worse though, this is the classic mis-understanding of inflation. As the value of the worthless paper gets closer to reality($0), the price of everything goes up. You can freeze hell, you won't stop that price increase until real money is allowed back into the economy.

Bukele is a dictator, Milei was elected. Do some research...

AmericanKulak says

https://fee.org/articles/javier-milei-delivers-argentina-s-first-surplus-in-over-a-decade-and-us-media-is-silent/

Argentines witnessed something amazing last week: the government’s first budget surplus in nearly a dozen years.

The Economy Ministry announced the figures Friday, and the government was $589 million in the black.

Argentina’s surplus comes on the heels of ambitious cuts in federal spending pushed by newly-elected President Javier Milei that included slashing bureaucracy, eliminating government publicity campaigns, reducing transportation subsidies, pausing all monetary transfers to local governments, and devaluing the peso.

We could do it too. The ballooning interest expenses on the existing national debt will still be a problem that will require creative refinancing.

UkraineIsTotallyFucked says

We could do it too. The ballooning interest expenses on the existing national debt will still be a problem that will require creative refinancing.

We are going to do it. The national debt goes up by about a trillion dollars every 4 months.

People who have been saying for 20 fucking years it doesn't matter what the debt is, are about to find out quite soon, they were wrong about that.

Call this the @Booger meme:

Ceffer says

BUENOS AIRES, Argentina (AP) — Argentina formally requested on Thursday to join NATO as a global partner, a status that would clear the way for greater political and security cooperation at a time when the right-wing government of President Javier Milei aims to boost ties with Western powers and attract investment.

The request came as NATO’s Deputy General Secretary Mircea Geoana held talks in Brussels on regional security challenges with visiting Argentine Defense Minister Luis Petri.

...

https://apnews.com/article/president-milei-argentina-nato-f16s-military-bf56ef4b18646438500c921250c66e93

Can we have some obligatory "Reeeeeee!" now?

Upon taking office, Milei’s plan was to devalue the Peso by 50% setting it closer to the U.S. currency’s value on the parallel retail market. It’s how the Austrian School quells triple digit inflation.

He told everyone this would happen but Tits McGee here doesn’t understand economics.