Miscellaneous News

enroger

Senior Member
Registered Member
Trump thinks he has leverage with this crap he is saying. If he wants, he is welcome to just cut off all Chinese imports. Just don't come back crying about how your economy collapsed the next nanosecond

Please, Log in or Register to view URLs content!

Trump threatens to halt Chinese imports – while counting on Xi Jinping to buy US soybeans​


Every time I wished Trump would go through with his threats but he kept TACOing..... I hope Mr Trump realizes he is not only disappointing the MAGAs, he is breaking my heart too....
 

FriedButter

Brigadier
Registered Member
Please, Log in or Register to view URLs content!

US buys Argentine pesos, finalizes $20 billion currency swap​

WASHINGTON (AP) — The United States directly purchased Argentine pesos on Thursday and finalized a $20 billion currency swap line with Argentina’s central bank, Treasury Secretary Scott Bessent said in a social media post, a rare move aimed at stabilizing turbulent financial markets in the cash-strapped Latin American ally.

“U.S. Treasury is prepared, immediately, to take whatever exceptional measures are warranted to provide stability to markets,” Bessent said, adding that the Treasury Department held four days of meetings with Argentine Economy Minister Luis Caputo in Washington D.C. to cement the deal.

Argentina’s libertarian President Javier Milei, a fervent admirer of U.S. President Donald Trump, thanked Bessent for his “strong support” and Trump for his “powerful leadership.”

“Together, as the closest of allies, we will make a hemisphere of economic freedom and prosperity,” Milei said in a social media post.

Bessent, under fire from U.S. farmers and Democratic lawmakers, has insisted that the credit swap is not a bailout. Farmers are angry about the idea of rescuing Argentina, whose own farmers have benefited from a recent gush of sales of soybeans to China at the expense of their U.S. counterparts. Lawmakers have pushed Trump to explain how this financial help aligns with his “America First” agenda.

After the announcement Thursday, a group of Democratic Senators introduced the “No Argentina Bailout Act,” which would stop the Treasury Department from using its Exchange Stabilization Fund assist Argentina.

“It is inexplicable that President Trump is propping up a foreign government, while he shuts down our own,” Democratic Sen. Elizabeth Warren of Massachusetts, said in a statement. “Trump promised ‘America First,’ but he’s putting himself and his billionaire buddies first and sticking Americans with the bill.”

It doesn’t help that repeated bailouts have failed to stabilize the crisis-stricken economy of Argentina. As the International Monetary Fund’s biggest debtor, it owes the global lender a staggering $41.8 billion.

Milei, a wild-haired far-right economist, came to office in late 2023 on the bold promise that this time would be different.

He vowed to take a chainsaw to reckless public spending that he inherited from his left-wing predecessor. But his radical austerity program has been painful, with no economic revival in sight and Argentines are losing patience.

Now Milei faces his greatest test yet as he heads into a midterm congressional election on Oct. 26 that could decide the fate of his free-market experiment. A disastrous defeat in local elections last month triggered a sudden exodus from Argentine assets as investors fretted over the country’s political dysfunction, overvalued peso and rapidly depleting foreign exchange reserves.

The U.S. financial help offers Milei a crucial reprieve. On Thursday, Argentina’s dollar-denominated bonds rose about 10% on Bessent’s confirmation of the credit line and the Buenos Aires stock market surged 15%.

Economy Minister Caputo expressed his “deepest gratitude” to Bessent following the announcement.

“Your steadfast commitment has been remarkable,” he wrote.

Bessent made no mention of any economic conditions attached to the swap line for Argentina, leading many observers to criticize the intervention as a pre-election reward for a loyal friend rather than an investment in a strategic partner.
The United States directly purchased Argentine pesos on Thursday and finalized a $20 billion currency swap line with Argentina’s central bank, Treasury Secretary Scott Bessent said
 

horse

Colonel
Registered Member
Trump: I have a simple solution for this, that is, banning everything from China !!! :cool:

Please, Log in or Register to view URLs content!

Free:
Please, Log in or Register to view URLs content!


Please, Log in or Register to view URLs content!

What is interesting to me, that these people, who basically are nobodies for China, because these companies do not need them, that these foreigners were hosted and given free tours of the facilities.

Cue the faux outrage in the West about transparency!

:rolleyes:
 

jiajia99

Junior Member
Registered Member
Every time I wished Trump would go through with his threats but he kept TACOing..... I hope Mr Trump realizes he is not only disappointing the MAGAs, he is breaking my heart too....
He is a walking liability in regards to the future of this world. Disappointing that the so called God blessed nation fails in its entirety to stop this menace. Seriously they should shut up about anything to do with morals because it’s clear that never practice what they preach
 

horse

Colonel
Registered Member
Export controls are one time use capability. Once you use it, other countries will develop alternatives, thus ending you leverage.

If China is using it, they know this is a temporary leverage and will go away within a few years. They need to get something tangible quickly while they still have the leverage.

What you are saying is not entirely true.

The sanctioned party, must still have the ability to obtain what they are being denied, and that is not a simple answer.

Back in 1973 from a Middle East war, OPEC embargo the oil, sending the US into a deep recession with high inflation. OPEC cannot do that today because of the shale oil revolution in America.

Will the West in general find enough of these rare earths and process them in large quantities required?

The answer to that right now is a clear no, it will takes years. With the new restrictions announced, then what exactly is a defense contractor in the US going to do?

They need that rare earth stuff to build missiles. That is running out due to various wars.
 

horse

Colonel
Registered Member
What do you suspect happened that caused this response?


Going to pull it straight out of my ass right here right now right!

This is a pre-emptive move, because the war in Ukraine is coming to an end.

These new sanctions is to blunt the wild theories the West will have after NATO is defeated.

Also put immense political pressure on President Trump, because these rare earths are needed for factory production, and this question of supply is not settled. The Republicans have to win in 2026 their mid-terms for Trump to be able to rule the way he wants.

Going to get interesting!

:D
 

Chish

Junior Member
Registered Member
Pakistan is now selling rare earths to the US. They are supposed to be China's ally, but now they are doing this.

Please, Log in or Register to view URLs content!

RE from Pakistan is not that critical
US can get all their RE and refine them from their own massive reserves and from Australia.
But US problems are many . Scaling up, very high cost of production, lack of energy ,environmental degradation, lack of refining tech and the time required to set up. China have already solved all these problems.
By the time US scaled up process is up and running (5 to 10 years ?) we would be living in a very different world.
 

henrik

Senior Member
Registered Member
Trump thinks he has leverage with this crap he is saying. If he wants, he is welcome to just cut off all Chinese imports. Just don't come back crying about how your economy collapsed the next nanosecond

Please, Log in or Register to view URLs content!

Trump threatens to halt Chinese imports – while counting on Xi Jinping to buy US soybeans​


China may buy if they can pay for US soy beans in rmb.
 
Top