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siamesepeter

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  • Last Tango In Argentina? [View article]
    FlaYankee: you are absolutely right!! You sound to me as somebody living in Argentina, as I am. Cristina Fernandez is definitely a God-forsaken liar and an extremely sick woman, clearly she is certainly "off-her-rockers" and will lead our country into another default very soon. Ever since the Kirchners came into office ten years ago Argentina made pots of money out of soya and yet the country has'nt got a penny left at the Central Bank. Inflation is sky-rocketting. We have no wheat because we have a lunatic running business all round, and most of her cabinet has absolutely no idea of what or how to do to run a country. Oh!! yes there's one business that is doing wounderfully. DRUGS!!! and that too is being managed by members in government. Cute, are'nt they???
    Jun 28, 2013. 07:56 PM | Likes Like |Link to Comment
  • Argentina’s billionaire Eurnekian family has pledged $700M in two deals to hasten a partnership with Argentina's state-owned YPF to develop its Vaca Muerta fields which contain Latin America’s largest shale reserves with ~23B boe. If an earlier memorandum of understanding becomes a binding deal, it would mark YPF's first in the year since the company was expropriated from Repsol. [View news story]
    The Eurnekian family I once knew, back in the 50's, was a very respectful family. They have taken up the full revamp of the Argentine international airport at Ezeiza and Palermo, and have done a good job at it. But risk their name by joining YPF in the Vaca Muerta deal, which will mean managing people like Kicillof and other alike, really makes me think that Mr. Eurnekian is either too naive or simply loves to risk his good name and honour........ I would never enter an agreement knowing that the mob ruling the government at present will have absolutely nothing to do with the good management ideas set forth to bring the business down to real production results.He will surely have to deal with henous dudes
    such as such as Guillermo Moreno and two or three other such characters presently being wholeheartedly supported by the queen-without-kingdom, Cristina Kirchner. Beware, Mr. Eurnekian, you might be losing all you have worked for during an entire life.
    Apr 30, 2013. 12:01 PM | Likes Like |Link to Comment
  • Argentine Peso Blues Update [View article]
    Sugar Charlie: Till few weeks ago the maximum amount of pesos cash allowed to carry over to Uruguay was 10K. Now I am not sure since they keep publishing new fx rulings practically every week as reserves keep going down and down every day. Believe it or not, but they have "specially trained dogs" that can sniff the existence of uSdollars you and anybody else carry on you or in luggage.......... You can easily change dollars for pesos in BA at the "blue" going rate, which Friday was quoting 8.60 +/-. I would not get pesos in Uruguay since they will not quote your dollars at the going blue rate. There are hundreds of what we call "cuevas" where you can change easily your dollars for pesos, and I know of NO limits since you would be exchanging in the "black market"..........
    A totally different case is when you want to purchase us$ with pesos. OK?? Have a nice week end.
    Apr 21, 2013. 09:05 AM | Likes Like |Link to Comment
  • Argentine Peso Blues Update [View article]
    Sugar Charlie: What most people are doing is to cross over to Uruguay, where you can buy any fx you need from their banks and charge to whichever credit card you have. Rate is the official rate plus 20% but you can only make ONE operation/day/credit card of maximum u $"s 200.00 each. But if you have 4, 5 or more credit cards (as many as you have) then you will be able to purchase u$s 200,00 X as many credit cards you have. The real problem is when you need 10, 20 or 50.000 dollars, it becomes a little more complicated, as can be imagined. But it can still be done..........
    Foreigners living en Argentina have exactly the same problems as argentinians. Tourists are recommended to change absolutely the minimum required on a day-to-day basis and can be sold at the going "blue" rate...........
    Apr 19, 2013. 01:22 PM | Likes Like |Link to Comment
  • Argentine Peso Blues Update [View article]
    Do take note: Congress last night passed 5 of 6 new laws by which our queen kristina will control absolutely everything and all. Our Constitution will no longer guarantee anything at all, since "she" has been granted FULL POWER, similar to what Chavez had in Venezuela. We are all praying that the rally to be held today as from 8.00 pm (local time) on, grants us, the still-free citizens of Argentina some kind of protection against her definitely dictatorial empowerment. The only possibility left is that our Supreme Court acts valiantly and most rapidly. Otherwise, Argentina is doomed for many years to come. I would certainly recommend to stay out of doing business, as long as the kirchners are in power, which seems they will be for quite some time yet. Unless investors wish or feel like investing in one of the most KORRUPT country in the whole world, I would suggest not to do so. In 10 years they have been in power, they have managed to leave our Central Bank with nothing but worthless bonds. That is the main reason why nobody can purchase ones single dollar, nor any foreign currency at all. A TV report shown last Sunday night detailed how the Kirchners, both her late husband and now herself, have sent at least 10.000 b. dollars/Euros out to secret bank accounts either in Switzerland, Cayman Is. Belize, etc.etc. The country is definitely BROKE, OUR CURRENCY IS WORTH NOTHING. They have not yet decided to devalue, but instead keep printing worthless papers which they still call PESO. If they are able to survive thru mid-term election (in October this year), we all doubt this government will remain in office much longer.
    Apr 18, 2013. 02:55 PM | 3 Likes Like |Link to Comment
  • Argentine President Kirchner’s takeover of YPF to trim energy imports is backfiring and threatening to narrow the country’s trade surplus needed to pay debt, according to a Bloomberg report. One year after the nationalization, output is flat and foreign investment needed to tap the world’s third-largest shale deposit hasn’t materialized. Meanwhile, energy imports may reach a record $15B. [View news story]
    youngman442002: believe you me, those idiots who voted her for a second term will be the ones to kick her out. They are all yelling their heads off because cost of living is absolutely out of control (like in Venezuela). April 18 there's a big march and rally in Bs.As. and all over the country. Things are getting really "hot" for the SOB'S IN government house. I shall be attending the rally to be held in Buenos Aires.
    Apr 12, 2013. 02:23 PM | Likes Like |Link to Comment
  • Chevron (CVX) says it wants to partner with Argentina's YPF in developing the company’s Vaca Muerta shale formation. YPF says it needs financial and operational partners to develop the Connecticut-size area in southern Argentina that may contain at least 23B barrels. [View news story]
    If I could have my say, would certainly recommend Chevron NOT to get into business with YPF. REMEMBER THAT ARGENTINA'S GOVERNMENT AND PRESIDENT ARE DAY BY DAY TURNING MORE AND MORE TOWARDS CHAVEZ' SYSTEM, POLITICALLY AND SOCIALLY. BEWARE CHEVRON!!!! DO NOT NEGOTIATE WITH OUR GOVERNMENT UNLESS YOU ARE PLANNING ON BECOMING JUST AS CORRUPT AS CRISTINA FERNANDEZ AND HER WHOLE BUNCH.
    Aug 24, 2012. 01:29 PM | 1 Like Like |Link to Comment
  • Protectionism In Argentina Threatens Foreign Investment [View article]
    niqueco: you are probably not aware of the fact that my country, Argentina, is governed by a definitely pro-marxist lunatic widow.
    Jul 31, 2012. 08:37 AM | Likes Like |Link to Comment
  • YPF (YPF +10.5%) shares are jumping on news Carlos Slim has taken an 8.4% stake in the Argentine energy company, but Street Insider says the billionaire's stake may not be all it seems. Slim's stake could somehow be tied to loan defaults following the YPF nationalization; otherwise, it just "doesn't make sense" that Slim would buy into a nationalized company.  [View news story]
    May I throw some light to your comment? First of all let me tell you that I live in Buenos Aires, Argentina and I am most carefully following everything and anything related to YPF. The "prominent argentine family" you mention in your comment is Mr. Eskenazi and his sons;
    apparently you do not know several things about this "family". Ever since the Kirchners came into power this family was practically broke. Somehow, Eskenazi Senior became a banker, and nobody has been able to pinpoint the fact of WHERE, IN GOD'S NAME DID HE GET THE MONEY FROM? Answer: he became a great friend of Kirchners who had to do something with 500,000,000 u$s which they had collected in lieu of "profits" in YPF. Which then the Eskenazi managed to invest in some "off-shore" bank. The whole country is trying to find these 500 million dollars, to no avail. The Eskenazi family miracoulously became millionaires without having invested 5 cents of their own, because they were absolutely broke, yet they suddenly bought two provincial banks, which were also broke. The real truth: the Kirchners and the Eskenazi, plus several other "friends" represent what we call the -"mafia of the pinguins"
    Jun 15, 2012. 04:03 PM | 1 Like Like |Link to Comment
  • Texas Instruments (TXN) is today expected to report that earnings fell for the fourth quarter in a row, with EPS forecast to drop to $0.29 from $0.55 and revenue 9.8% to $3.06B. With TI a supplier to Apple (AAPL), Jim Cramer says analysts will try to make predictions about Apple's results based on what TI says.  [View news story]
    SgtKiller: are you trying to be smart or what? All I wanted to say is that I had a wonderful experience working for TIA here in Buenos Aires.
    And by the way, you shud be a little more respectful. Instead of acting jackassly. Sorry for you.
    Apr 24, 2012. 09:17 AM | Likes Like |Link to Comment
  • Texas Instruments (TXN) is today expected to report that earnings fell for the fourth quarter in a row, with EPS forecast to drop to $0.29 from $0.55 and revenue 9.8% to $3.06B. With TI a supplier to Apple (AAPL), Jim Cramer says analysts will try to make predictions about Apple's results based on what TI says.  [View news story]
    I feel very sad upon reading this news on TI. I worked for TI in Argentina many years ago --between 1971 and 1975. It closed down its opoerations in the 80's, but business was really get at that time, the bad governments (as usual) made Dallas decide to end activities here. Very sad. Was a wonderful company and experience.
    Apr 23, 2012. 11:24 AM | Likes Like |Link to Comment
  • More on Argentina's takeover of YPF: The government will send a bill to Congress to take a 51% stake in the oil & gas giant for the "public good," according to an official. The move follows weeks of government pressure for the firm to spend more and pay its investors less. Shares -14%, Repsol (REPYY.PK) -1.7%.  [View news story]
    I would really like to know how is she going to pay that 51% to Rep`sol, since the country is absolutely "broke". Not one single buck in the Central Bank since many months ago. So I expect Spain will be claiming legally and soon.
    Apr 16, 2012. 07:14 PM | Likes Like |Link to Comment
  • Argentina On The Brink: What Is The Real Investment Risk? [View article]
    Argentine born, raised and living in Buenos Aires. Unfortunately we have to put up with one of the most corrupt governments ever. My country will very soon fall into some kind of default, which we all believe will be worse than the one we experienced in 2001-2002. Most of us simply cannot accept that a bunch of terribly ignorant so-called "politicians" are capable of imposing such heinous rulings as they do, bearing in mind that many members holding very important positions in the government can barely read/write.
    Apr 5, 2012. 09:39 AM | 1 Like Like |Link to Comment
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