Just a couple of weeks after the request for public information made by the union member and deputy of the Nation, Sergio Palazzo , regarding the use of gold reserves to contract more debt , the portal La Politica Online (LPO) reported that The Minister of Economy, Luis Caputo , “seeks to rebuild reserves and reserves that have been severely damaged by interventions to contain the dollar” and that is why “he is sending more gold to try to obtain a loan of USD 1,000 million and rebuild reserves.”
Just as he already did , on at least two occasions during the month of June . A fact that was recognized by Caputo himself , once again the national government will send gold bars from the reserves of the Central Bank of the Argentine Republic (BCRA) as reinforcement to push a repo loan of about 1,000 million dollars through the Bank of Basel .
A repo is a financial operation in which the sale of an asset is agreed with the commitment to repurchase it on a specific date and price . This operation is also known as a repo : "It is a short and expensive loan," a source from the financial sector summarized to LPO , adding that "this shows the distrust that Argentina generates, you have to pawn your grandmother's jewelry to get money." .
How far away the times seem to have gone when an empowered Patricia Bullrich , still a candidate and member of the PRO, stated that she would enter the Central Bank vault with cameras to verify how many reserves her future administration would have . What a surprise she would be if she entered now!
From what we can see, the government of Javier Milei and his rockstar minister does not stop scratching the pot. The thing is that he has been passing the cap in different places but he can't get a handle . For this reason, the national government had no better idea than to get rid of the asset that all Central Banks are looking for today: gold bars .
Without a doubt, in the future anti-national and anti-popular encyclopedia, Milei, Caputo and Santiago Bausili will have a section for each one. And in the words of Don Arturo Jauretche : “If the gringo who buys from us is bad, the Creole who sells to us is worse.”
The scenario is coming together and we owe it all to a government aligned with the interests of Anglo-Saxon imperialism that does not stop losing reserves, which are already at a much lower level than the one received in December 2023 when Alberto Fernández handed over the band and baton of command to the prodigal son of the Austrian School.
Sending gold with the aim of securing a loan “is not only a reflection of the desperate situation of the Milei government, but also a warning signal about the lack of transparency and planning in economic management. The opacity in the repo terms and the use of critical reserves for short-term interventions demonstrate a crisis management strategy that, far from solving the problems, could aggravate them. The financial community and Argentine society deserve a clear explanation and a coherent economic plan that does not further compromise the future of the country,” the En Orsai portal critically published.
Of course, the British usurping enemy that occupies our Malvinas Islands must be very happy with these operations of Milei, Caputo and Bausili , for which they have been using British Airways as a transport airline, nothing more and nothing less.
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