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Kirchner’s Move on Pensions Hits Argentine Markets
- Text size
MATT MOFFETT
The Wall Street Journal
October 24, 2008
BUENOS AIRES — A year ago, when leftist Cristina Kirchner was elected to succeed her husband Nestor as president, many Argentines hoped she’d follow a more conciliatory path than her mercurial spouse, who almost seemed to relish making enemies.
- A d v e r t i s e m e n t
But with gambits like Tuesday’s proposal to nationalize private pension funds, the 55-year-old former senator has shown a combativeness that is every bit the equal of her husband’s. Mrs. Kirchner justified the proposed seizure of $30 billion in pension assets by accusing the funds of having instrumented “policies of plunder.” She said Argentina was setting an example of how to deal with the global financial crisis.
For Mrs. Kirchner, the fallout from the move is just beginning. The 10 pension funds, and many depositors, are threatening lawsuits. The Argentine stock market fell 10% Wednesday, on top of Tuesday’s 10% decline. Because the private pensions are big investors in local capital markets, the proposed nationalization has raised worries the government intends to tap new pension contributions for its own needs rather than invest the money in local stocks and bonds. For fragile local markets, the move compounded the impact of the global financial crisis.
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October 24th, 2008 at 12:21 pm
spiritually
smart
.com/
Jones-
CIA.
htm
check it out
October 24th, 2008 at 12:22 pm
great article.. revolt argentina,revolt
October 24th, 2008 at 12:22 pm
#1 is bullshit..
October 24th, 2008 at 12:23 pm
#1 is bull shit
October 24th, 2008 at 1:09 pm
It’s happening just as it did before!
October 24th, 2008 at 1:22 pm
http://online.wsj.com/article/SB122471757680560465.
THIS IS ALSO ANOTHER SOURCE FOR THIS TOPIC!
October 24th, 2008 at 2:39 pm
Accusing the funds of having instrumented “policies of plunder.” It’s making it Lawful to STEAL workers PERSONAL retirement account for there welfare. There Stealing this money and changing the wording on it to make it totally legal. There is going to be such a huge uprising over this you just watch! They take n take from the less fortunete for there own good. This world is in Major trouble, and its not going to change but get worse as these days go by. Greed will be over come tho.
October 24th, 2008 at 3:34 pm
The Argentines are very politcally savey and WILL- DO Something about this governmet criminality … no doubt about it these people don’t mess around !! …
October 24th, 2008 at 5:17 pm
watc closely america watch closely world
this is our future
police states rising
massing against the free people of the world
the german people often said after the war their greatest mistake was letting their guns be taken
the cursed machine must be ground to a HALT….
October 24th, 2008 at 6:10 pm
Yeah watch for it here, and even if we turn our 401Ks into gold at home the
sonsabitches will most likely break down the door and STEAL that, too.
October 24th, 2008 at 6:36 pm
take that money away from the crooks , do it fast , do it now , or millions will lose their pensions , and send the crooks to prison … in mexico
October 24th, 2008 at 7:50 pm
if you didn’t remove 50% of your assets from your 401k 4 weeks ago it’s gonna be a long time before it reaches the money value it once had.
Sorry,
but sometimes mainstream media gets it right.
If you are still invested, there’s really nothing you can do but wait it out, I’m pretty sure next week the government will artificially bump it up sometime next week. It’s still to early for it to hit 6000, so when you see it hit 8900- 9000 points you bail out and re invest it when the market hits between 5500 and 6000.
That the common tip that every broker I’ve spoken too said to do. Everyone knows that the stock has been artificially inflated for the past 6 years and as soon as the real figures hit you are gonna see a drop of about 3000 points.
Look if you play your cards right we could all make a lot of money, I know I have my assets nice and secure and ready to invest. All I’m waiting for is the actual numbers to reveal itself. I guarantee you it won’t be till George Bush is out of office but once he is out there will be no one to manipulate the market.
It doesn’t take a brain surgeon to realize what happened after 9/11 didn’t make any sense. You can’t have a ONE DAY closure of the market and show zero losses, that is billions of dollars that wasn’t made because of the closure.
What president Bush did was artificially freeze the market for that one day but the losses are still there. You can’t change that fact with a freeze, so I’m telling you the real numbers will reveal itself soon enough and when it does let’s hope it’s not at ZERO.
GOOD LUCK PEOPLE
October 24th, 2008 at 10:27 pm
People that write long comments need to start using paragraphs. I pass over and do not even attempt to read any comments that are more than 4 lines with no paragraph spaces. No matter how good your statement may be I will just go to the next comment. Learn to write the correct way.
Same goes for any religious statements. As soon as you start quoting scripture, you lost me as a reader. I do not care if you are religious or not, try to write comments that would appeal to everyone or else you are just talking to a percentage of the people reading, instead of everyone.
Just my thoughts. I am sure I am not alone on this one.
By the way, I will be posting this on multiple articles over multiple days or even weeks. If you do not like it, tough shits. If they do not appear regularly, then I have been censored.
Any flamers can direct their comments to the nearest brick wall.
Oh, and as of right now, 10:18 p.m. cst. I am posting this in every recent article that is on this site…let’s see how many do not appear…hmmm.
October 24th, 2008 at 11:07 pm
the powers that be will try and smash her.
Kirchner will in turn try to make allies..
iceland, russia, venezuela?
which sets the stage for military tension.
hello nwo. hello military.
i wonder when troops will simply refuse to participate in activities they know to be criminal?
October 24th, 2008 at 11:11 pm
look for dow to bottom at 2500-4000 or what it was in 90’s.
October 25th, 2008 at 12:41 am
I agree, gibson88. I’m writing to people in Congress and in the Senate telling them to their job, they’re paid with our money and they need to keep their oath to the Constitution seriously and not do anything rash and stupid.
Heck, I’ll take that up to the military men and women too. They all take an oath to the Constitution–to uphold the utmost of it in every decision that they make and take action on, they’re getting paid by us too, you know.
Start caring about the Congress and Senate, if enough people start caring we can change it within the system that our Fore Fathers have created for us; it’s not perfect but if carried out thoroughly and strictly to the Constitution it will work.
We all need to start caring, about our lives, and each others’ lives. Caring about others, is caring about you. The Golden Rule. Remember that they work for us and are getting paid by us, so we need to start holding these people accountable. As shareholders and consumers too.. not only Congress but to companies, as well. Heck start writing to the Better Business Bureau or something.
October 25th, 2008 at 8:29 am
Argentina version of the Paulson Ponzi Scheme. It is nice to know all the governments are getting involved in Keptocracy in one form or another. What would we do without them “taking good care of us”. We sheeple just do not know how to. We are so helpless. Just think all they have to do is let the people who are in control of our financial system who are all corrupt and incompetant loose power and we would not have to deal with the robbery of our 401ks and pension plans.
October 25th, 2008 at 2:31 pm
hey #19
By next tuesday or wednesday the stock will be up to 8500 to 9000, it will probably be the last time too so you best take advantage. If it falls now Bush is gonna be in serious trouble. What he is doing is trying to make his legacy artificially better then it actually is. He could handle being a failure in the war in Iraq, Afghanistan, and terror, but a total collapse of the economic system isn’t what he had in mind.
Look it is what it is, and he was by far the worst president EVER. It will be a long time before we have another one as bad, and in order to ensure this we need to put some laws in place so that a president doesn’t have the authority to manipulate public stock.
Junior you sound like you don’t have anything invested in stock, so I guess the stock tip I gave you yesterday would be considered useless.
oh well I guess only time will tell!
October 25th, 2008 at 9:57 pm
Kram I went to the website and the website is scattered and confusing probably just like the mind of the person who created it. I clicked on links where no video was available. I clicked on videos that were just pics of the videos and not the actually vids itself. When I finally clicked on a working video the title of the video was something about Ron Paul not saying if Sodomy is wrong or something and it was misleading. So what I’ll getting out of this site is that it is unreliable source of information.
October 26th, 2008 at 3:37 pm
HI,I´m watching and listening to Alex radio rather sometime ago,because I think he´s a true warrior against the NWO,decent,and have no fear at all.
And because I´m convinced that if we,THE PEOPLE,don´t think and go forward together,we wouldn´t be able to deal with these criminals,undecent,corrupt,degenerated NWO.
Last Sunday (10/18),in one of the most important newspapers in my country,(alined now with our corrupt goverment)LA NACIÓN,this time is telling the truth (a litle uncovered,but truth at last).
One month ago,Henry Paulson,your former sECRETARY OF THE TREASURE,installed his office in La Patagonia,south of the country,just as their “partners”(he said he has nothing to do with them)Ted Turner,Douglas Tompkins,and Ward Lay did during the 90´s.
And the most important file…Goldman Sachs.
They say they have come to “protect”the area,only 160 MILLION!!hectáreas.And our goverment allowed this!!
Most of the people here don´t beleive in a NWO,so they really think these people have come to the country as an “enviroment foundation” and didn´t pay attention at all to this news.
October 26th, 2008 at 3:44 pm
So,as you all can see,they are running all over my country.You should pay some atention to this because ,if they are investing here,they are running out from your country having “something” in mind.
Just as Alex is telling today we must run this together,let your people know about his.
October 26th, 2008 at 3:52 pm
So,as you all can see,they are running all over my country,Argentina,
You should pay some atention to this because ,if they are investing here,they are running out from your country having “something” on mind.
Just as Alex is telling today we must run this together,let your people know about his.
October 26th, 2008 at 9:00 pm
This article doesn’t mention that fourteen years ago the pension funds were privatized. They had always been up to that point a state responsibility. Among the many benefits that the private pension funds were granted, was a commission from each and every salary that went straight into their earnings. With the rest, they paid for their enterprises and invested.
If you do a little research, you’ll find that the results of those investments did little to improve the workers’ savings.
Today, the state is paying millions to compensate for retirement funds that don’t add up to the minimum required by law. So, it’s very clear that if you’re in the private funds business, you never lose. Not until now (and maybe that’s why they’re so angry).
Whether or not, once the funds are nationalized, our president will use the money for her own purposes, I cannot tell (though our history shows this has been a common practice); but should she decide to keep her word, then the system will be far better off than if it stayed in the hands of those who, for 14 years, grew rich at the expense of millions of workers.
October 27th, 2008 at 1:15 pm
Alex is a coward. He is worthless. I saw him speak recently on Iranian TV preaching the same meaningless words. At that moment his arrogance seemed evident. His true colors were shown. His love for money glittered in his eyes, he spoke as if he was all knowing. His words held no meaning within them, he says what is going to happen but I’ve not seen one spark of concern or sympathy. Because he is content, he has no worries. A man that fights for his own survival, this is he the false speaker. He has made millions off this conspiracy, his greed can be seen by his plump appearance. He betrayed himself. He fought for nothing except for himself.He doesn’t even exist. He holds nothing of essence within, he is like a empty vessel containing meaningless words to entertain you. You are the puppet. you are the entertained. You are the illusion. Through you, none of this could be possible. And so you will die unknowing in the state of ignorance. Fighting for something that is also meaningless. Ill let you people fight this battle that seems worthless now. no longer apart. forget all that you know.
October 28th, 2008 at 2:10 pm
WHATIS; TRY AS YOU MAY TO DISCREDIT AJ HE HAS WOKEN UP MORE PEOPLE THAN ANYONE I CAN THINK OF AT THIS MOMENT. WE KNOW HE’S NOT JESUS AND EITHER ARE YOU NOR AM I. EXTREME EVANGELICAL CHRISTIANS OR THE OTHER SELF RIGHTEOUS FAKE CHRISTIANS ALONG WITH THE ILLUMINATI ARE MORE THAN WILLING TO FULFILL THEIR BIBLICAL PROPHECY. ILLUMINATI ARE WILLING TO USE EVERYTHING AT THEIR DISPOSAL AND CHRISTIANS ARE WILLING TO PRAY AND LOSE NOTHING. AT SOME POINT YOU WILL HAVE TO FIGHT BACK AND POSSIBLY DIE SO OTHERS CAN LIVE CHRISTIAN OR NO CHRISTIAN. NOW THATS WHAT I CALL BEING A PERSECUTED. THE MOST NOBLE THING A PERSON CAN DO. YOU THINK WHAT HE SAYS IS ENTERTAINMENT FOR US ITS DOWNRIGHT TERRIFYING BUT AT THE SAME TIME GIVES US HOPE IF NOT FOR OURSELVES THAN FOR OTHERS. ISN’T THAT WHAT LIFE IS ABOUT? HOPE
November 1st, 2008 at 9:37 am
hope all of you enjoyed my stock tip last week……..
I made 137,000 dollars this week (after my brokers commission).
so as you can see I AM FOR REAL,
What did you make last week?
If you didn’t take my advice then you’re still down, don’t worry though, If I see another way to exploit the market I will be sharing it with you guys.
I don’t know why they deleted all the nay sayers that were posted I would have really liked to rub it in there faces!!!!