British Empire’s Financial Warfare Targets Argentina for Destruction

“Argentine Peso Fall Threatens Government of Cristina Fernandez,” screamed Friday’ London Financial Times , barely concealing its glee that the plummeting of the country’s peso by 15% over a 48-hour period between Jan. 22-23, might bring down the government of the Argentine President.

Emerging market currencies plummeted around the world Friday. But the Argentine currency devaluation wasn’t just part of a global trend. The British Empire wants Argentina out of the way, because it has defied London’s and Wall Street’s genocidal austerity dictates, opting for production and economic growth instead. Anglo-Dutch financial assets orchestrated the currency crisis they claim is a result of the government’s “populist” policies—exchange controls and anti-austerity measures—to unleash chaos in hopes of forcing Fernandez de Kirchner out of office.

The claims by London’s allied media outlets that the government brought the currency crisis on itself by clinging to “deeply flawed” economic policies are belied by the facts of the matter.

The peso has been under constant speculative attack for months, accelerating its depreciation, accompanied by increasing capital flight. But on the morning of Jan. 23, Royal Dutch Shell entered the currency market, working through the Queen’s own drug bank, HSBC, to purchase $3.5 million at an exchange rate of 8.40 pesos to the dollar—when the average exchange rate in the wholesale market stood at 7.30 pesos. Once the purchase was concluded, Citibank and the foreign-owned Banco Frances immediately put up the 8.40 exchange rate on their big boards that track currency transactions. Shell paid 4 billion pesos more than it might have done otherwise, which then unleashed chaos. At that point, the Central Bank intervened to bring the exchange rate back to the 7.30 range.

As the daily Pagina 12 pointed out yesterday, the Argentine tax agency, AFIP, has denounced HSBC for “illicit association” designed to facilitate tax evasion and money laundering. Financial Times editor Lionel Barber unbelievably reported from Davos that “suddenly out of nowhere,”—out of nowhere?—this peso crisis in Argentina has thrown everything into disarray.”

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