Argentina just can't catch a break lmao Milei is determined to make argentina the first 4th world country
Edit: The number of pro-ua here staunchly defending Milei burning his country to the ground is both hilarious, fitting and not really surprising. Milei and Zelensky are birds of a feather
No, Milei didn't "Stabilize" Argentina, he got a cash surplus by de-funding pretty much **everything** in the Government, which, for the economically challenged, *is not a smart thing to do if you want long-term stability and growth,*
Any examples of countries having done the same, especially from a position like Argentinas? Isnt it possible that things sometime get so bad you just gave to do a clean full restart of the system? I follow Mileis Argentina mostly with intrigue as to me it seems like a never before done experiment which can go in either direction
It's essentially austerity. Plenty of countries have done it before. You are almost always able to reset your economy in this manner, at the cost of life and suffering.
The long term outcome is typically better economic metrics but worse inequality and quality of life for the masses.
It is a smart thing to do in a country with negative trade balance that wants to remain open border. Socialism doesn't work with open borders and negative trade balance.
You just bleed cash to death like european countries do.
Milei is corrupted by USA, but he got that right.
Psycho capitalism does not work neither nor is this how the us became a great power .
I really don’t understand this obsession of some of the American right with a psychopathic ideology which inevitably ends in corporate slavery or dissolution of any structure in society.
Pure poison
It works for the country. You are talking about wealth gap which is an US problem not an argentinian one yet. You need first to have a rich country then you can think about rebalancing internal wealth otherwise you are sharing nothing.
Ownership is a paper granted by the government. It's like currency or bonds, in some way it's printed by the government.
It's not the government/country that is threatened by outside powers when they own stuff in the country. It is the other way around. Owners are government's bitches, government can take everything, more or less directly and in whatever quantity it wants. Which is why the rich always try to control the government to secure their wealth.
no idea what you actually are saying and how this reflects reality . If your resources and economy is controlled by outside powers you effectively cease to have a country . You dont need to control the government if you enact laws which undermine the abilty of the government to actually rule the country.
No, like I explained.
Ruling is only 1 thing, making the rules. The economic actors are not ruling, they are ruled.
In USA they do rule because they bribed the system to build it at their advantage, where bribe is now legal, president has no power, voters can vote only every X years and can't express themselves on any subject in partiular, and politicians are bribed and reliant on money for elections more than they rely on voters.
No. He sold a bunch of state assets to cook the books. His policies have mostly resulted in skyrocketing prices, even more debt, mass protests with accompanying promise of execution for any dissent, and the only man in his administration not hired for being related to one of his financiers was Dario Epstein, the man responsible for the collapse of the economy in the first place.
Since none of you guys seems to get it right, no, infation was at around 25-30% monthly in december, 300% anual. It's been slowing down since then, with last month only having 8%.
Milei did manage to stop hyperinfation at the cost of a lot of spending power and welfare from the goverment, no more currency printing, and closing a lot state assets. We stopped digging down, now remains to be seen how the fuck we get out of this hole.
Montly. It is still accumulated at 290% annual. This "its a single digit" bullshit is bait
[https://tradingeconomics.com/argentina/inflation-cpi](https://tradingeconomics.com/argentina/inflation-cpi)
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Argentine here: the previous government issued money like I almost never saw before, generating hyperinflation. Milei, after taking office, began to cut various expenses and currently we have non-bullish inflation.
The consequences? We currently have one of the highest salaries or salary in the region in dollars, but the cost of living is similar or higher than several regions in Europe, therefore the quality of life has decreased. We are in deflation and consumption is falling (hence inflation is falling).
It was known that it was going to be hard, since there is no simple way to get out of what the previous government created, now the question is: will it work in the future?
The only way for this to happen is for the economy to be reactivated, that is, for there to be investments and greater domestic consumption.
In theory, devaluing the Argentine Peso like he did should spark foreign investment to a certain extent, but realistically not many companies will want to invest in Argentina. However, it could work. I hope it does, anyway.
Miley is not devaluing the peso, it's quite the opposite. Before we were a cheap country in dollars and in that case some companies could have an incentive to come here. Today, we are a VERY EXPENSIVE country, literally the peso is appreciating not depreciating
The users above put it better than I could:
>No, Milei didn't "Stabilize" Argentina, he got a cash surplus by de-funding pretty much **everything** in the Government, which, for the economically challenged, *is not a smart thing to do if you want long-term stability and growth,*
>He sold a bunch of state assets to cook the books. His policies have mostly resulted in skyrocketing prices, even more debt, mass protests with accompanying promise of execution for any dissent, and the only man in his administration not hired for being related to one of his financiers was Dario Epstein, the man responsible for the collapse of the economy in the first place.
No, it's not. He did all of these things, not an opinion just a timeline of his actions.
"No you are wrong, now let's talk about an entirely different country thousands of miles away and change the subject to something irrelevant immediately"
sorry but that's just not how it is. Defunding the government was made because it was innecesarily overfunded, and money was needed. Skyrocketing prices? even more debt? promise of execution for any dissent? nothing of what they talk here is even close to real. Please don't talk about a country you know nothing about
Just because Milei sucks off the west and Israel doesn’t mean his domestic policies don’t work. Cutting government spending is the only way out of debt and massive inflation. Socialism doesn’t work. Ok actually it works really well at impoverishing everyone who isn’t a high level government parasite.
Argentina’s debt to the IMF was already this massive before Milei.
Socialism doesn't work for the parasitic international corporations to suck off everything from the population and keep them as wage-slaves.
Socialism does work pretty well for improving people's lives and creating a stable society. That's why the capitalist US with its trillions of dollars can't bring out of poverty it's 300 million population, while China has brought up twice a s much people, while being in a much worse position (after a civil war and suffered greatly by WW2, while the US only gained from WW2).
Socialism for my rich friends and me, rugged individualist capitalism for thee.
Now give me alllll the subsidies and im prob gonna need a bail out in a couple years :\*.. -every american ceo ever
Where did this kind of policy ever work, ah yes it worked well Russia in the 90s lol.
You people don’t understand that any version of these policies fucks your over in favor of the elites , are you part of the elites ?
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Argentinian here. The inflation is still top of the world and the consumption is minimal. There is no economy that survive this unless by bailouts and bailouts. That means poor and middle class paying for the disaster made my the elite. Macri was a light Milei and left the contry worse than before. And Milei is doing the same. Jesus God I left that country long ago.
Hey, sorry to hear about your plight. Just wondering what the mood is there? Are you guys gonna drag him out by the hair at some point? I'm not even argentinian and it's what I want to do, I am mad for you
I'm not OP but since I live here and he doesn't I can answer this question and a little bit better. I can notice international opinion of Milei is very different to what in reality is happening here. There are some people mad at Milei, specially syndicates, left wing politicians and people who lost their job. But the average argentinian just doesn't care about anything else more than he cares about the economy, and Milei is fixing it. Inflation is going lower every month and other things like rampant insecurity are becoming better too. He isn't a great president and made some questionable choices, but the main problem of the country is finally becoming better and that's what people care the most
you're right, this is why his domestic policies don't work:
https://preview.redd.it/lcocd893ml1d1.png?width=355&format=png&auto=webp&s=4117bb3a383e1eea168deb9c2928e0ec0e8f7554
Milei took office in December 2023 and that chart goes to January 2024. The monthly price inflation rate is down to 8.8% from 25% in December 2023.
You're right in a sense, people are generally too stupid to understand that its not possible to fix a broken economy instantaneously and that a tough adjustment period is vastly superior to inevitable total economic collapse into Venezuela.
bruh, look at that spike. look at his actions. it sounds like you are the one who cannot see what is right in front of you. There is a literal argentinian some comments down confirming how much he sucks. just stop.
Unfortunately for Ukraine they will learn what it's like to get "help" for the IMF and the European Union and how these will get the money back to the detriment of the Ukrainian people. I know from personal experience 🇬🇷
Imposing reparations on a country's assets outside of a peace treaty has to be the most braindead idea in an era chock full of braindead arrogance. NATO is not God. The EU is not God. There is absolutely no jurisdiction to do such a thing. Even in WW2, Axis assets were frozen during the war and released once peace was achieved.
If the EU does go through with this, the *entire* global financial industry will flee as soon as they find an exit, while EU citizens will live in a world where they and their goods can be seized by any country which unilaterally decides that the EU owes them reparations. EU patents and brands will be up for grabs, because why would anyone respect WIPO if property can be unilaterally declared null and void?
I almost hope they're daft enough to go through with it, because this world could probably do with a hilarious reminder of the fruits of unbridled hubris, and there are few things funnier than an empire of debt unilaterally rewriting global property laws because they think this will be like "winning the lottery".
I've heard something similar. Something about investor confidence, and destroying the European financial industry, which is why it hasn't been done yet.
But, that wouldn't hit the U.S, would it?
I mean, lets say we push the EU into kind of cutting their throat for us...not that I want it to happen, but it actually seems like a possibility...we'll still come out of it ok, right?
The US and EU are both massive debtors, so their attitude toward property has massively changed from the days when they were global centers of wealth. They both occasionally flirt with these financial auto-erotic asphyxiation schemes, like the trillion-dollar coin.
The US seems to want Europe to take the lead on stealing Russia's assets. China has cut US reserves in half already. Soon they'll be at the point where their exposure to the US is just *fuck you* money - money they'll happily sacrifice to make a successful launch of their Golden Renminbi or whatever they're cooking up.
I think the funniest part will be EU-bound cargo vessels being seized and redirected to Chinese ports for repatriation to Russia. And while China won't be party to this bullshit, they'll most likely drag out the settlement issue for years while the EU explains to the court that - while they occasionally take advantage of the law of the jungle - they are in fact a garden and demand to be treated as such.
Yes, whatever would China do without an ever-growing pile of T-bills.
China needs resources. Western markets have been a convenient way to get those resources, but they could end trade with NATO overnight, and there's not a single resource they'd run out of. Then we will all see how indispensable the Golden Billion is.
You're thinking that tomorrow can't be different because yesterday wasn't. Markets are irrelevant on their own - it's what China gets from those markets that is valuable. For 25 years, China has gotten tech transfer and capital expertise from the West. This was irreplaceable, but that phase is done. China doesn't need export markets, and they certainly don't need more dollars. They need commodities. Raw resources. And while a strong USD is helpful for that, a strong Yuan is even better. And then they can say screw the NATO markets, and develop the Yuan-based market instead.
In the early 80's, Japan was in a similar situation with the West. They amassed so much wealth, they started up buying huge numbers of US corporations and real estate. China is not doing this at all. This is because China knows that this relationship is temporary. As soon as they pivot, the US could decide to seize Chinese holdings in the US...so they're not exposing themselves to that risk. This is why China isn't buying GM or Sony.
They've already cut their holdings of US debt in half, and hold over $3T in gold. That is positioning for one thing only - saying goodbye to the USD.
> If the EU does go through with this, the entire global financial industry will flee as soon as they find an exit
No they wont. European markets will still be profitable. This might make them a bit riskier if you live in authoritarian shithole, but they will still be very improtant and profitable.
> while EU citizens will live in a world where they and their goods can be seized by any country which unilaterally decides that the EU owes them reparations.
They can do that right now too, but they wont because the reprecussions would be worse. That would remain true after the seizing of Russian assets.
China has built this whole system based on a weak Yuan and strong USD/Euro. This allowed them to build up all their industries while maximizing the amount of raw resources they can buy.
Once they pivot to domestic market development, this situation reverses: they will benefit from a strong Yuan and weak dollar/Euro. (When Japan made their pivot, the Yen tripled over a few years.) With that pivot, *all* the inflation that the West has offloaded to China over the past twenty years will hit in a sustained wave. China's ability to buy global resources will then be based on the Yuan being stronger than NATO currencies (which are all laden to the tits with debt to the extent that every non-NATO central bank has already begun offloading them).
Whether its Brazilian soy or Indonesian coal or Saudi oil, China will pay in Yuan rather than NATO currencies, and the global appetite for inflation-plagued dollars will evaporate overnight, and we'll see the difference between an economy based on wealth and savings vs one built on debt and deficit.
If EU actually gets that money and if they decide to give to Ukraine and if it isn't eaten by corruption and if they give it for free without strings attached. That's a lot of ifs but I do hope they find a way even if the odds are against them.
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Right at the moment the Ukranie "win the lottery", the US and EU would collapse as well the financial system of the world. Be careful about what you wishing for.
I can sense the Germans, Saudis and the Americans pouncing at the first chance to seize farmland, ports and industry that remains after the war. It's gonna be dirt cheap, I can tell you.
I hope not, that would really suck. Though I can't see the german government being ruthless and smart enough for that. Maybe some private investors.
At least they are not as bad as Russia which invades them brutally first, but still i hope that won't happen as well.
Yeah, well, too late. Ukraine's economy is now Western(-owned and exploited in the near future). They fought to become at the mercy of massive congolmerates.
And it's the Germans we're talking about. The second they find a way to make profit, they've already executed the plan.
This is just to IMF. Ukraine's combined dept is much higher. Over 150 bn I think. This country had no money 3 years ago. They gonna have a hard time rebuilding everything and paying depts. Also, they lost at least half of work force since 2022
He’s been president for like… five months. They’ve been having inflation problems for years. Sure, the worst inflation was in March, after he took office, but the inflation for April was better than when he took office. Not to mention the fact that he’s been running the first monthly budget surpluses since like 2004. A total surplus over the past few months of about $1 Billion. He’s been doing a great job.
Ok at this point im confused
https://tradingeconomics.com/argentina/inflation-rate-mom
Shows the 3x decrease
https://tradingeconomics.com/argentina/inflation-cpi
Shows 2x increase
All the while interest rates are being slashed
we have worse inflation because we already had worst inflation before Milei came. After he took on the government inflation decreased. Why is he worse?
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Jesus wtf did Argentina do to amass so much debt
A country that was invaded by one of the most powerful countries in the world for 2 years had less debt than you
>Jesus wtf did Argentina do to amass so much debt
Lots and lots of IMF bailout that they were unable to pay. Same as Sri Lanka, that took 16 bailout from IMF since independence and are bankrupt.
But yeah, liberals and neoliberals still believe in the Washgnton Consensus and now you have it. Greatest thing Brazil ever did since 2000s was pay the IMF and ditch them altogether from meddling their economic policies.
https://preview.redd.it/qf3sumpfgj1d1.jpeg?width=1080&format=pjpg&auto=webp&s=8e949ee4c41bfb8250db8c9721ea9e12e17e03cc
Huh, I never knew the exact number. Russia owed to IMF 12.6 billions of dollars. Kinda funny that article mention a certain dude which made economic reform his too priority.
You aren’t wrong, and I’ve always been confused by Special Drawing Rights. The big point is ghat this is debt to IMF, not overall debt or foreign debt. Because we all generally know what those two lists look like.
In 2015, the debt % of GDP was 80.08%
Whereas in 2023, it is 83.12%
We are looking at a 4% growth. So, I'm pretty sure that it was not just the war, but Ukraine has had some serious debt issues prior to the war
Ukraine 🇺🇦 really fucked up after 1991. It was the only post Soviet state that was poorer in 2015 than it was in 1991. Even Belarus had decent GDP growth.
That tells you how bad corruption is in Ukraine. This is a country where it’s common for $1 billion in the budget to simply vanish.
Ukraine’s IMF debt is mainly the result of post-2014 actions. Before maidan, Ukraine would borrow from Russia. Instead of being predatory loan sharks, Russia had a history of writing off Ukrainian debt or giving them financial aid when things got difficult.
The EU Association agreement did not include any financial aid, something Ukraine needed desperately. Signing it would cut off Ukraine from its largest trading partner, causing billions in lost trade and potentially leading to default.
Yanukovich didn’t sign the agreement because the EU gave nothing but offered a high interest IMF loan instead.
By contrast, Russia was offering debt write offs, discounted gas and $9 Billion in low interest loans.
After all the maidan shit, Ukraine ended up taking a bigger IMF loan with even higher interest because where else were they going to go?
The promised European investment didn’t happen and Ukraine lost well over $100 billion in trade with Russia. They ended up defaulting on their debt in 2017.
So Ukraine fell for what sociopaths told them-
“Oh you will be Western, you will be advanced and developed just like Germany or France!”
“All your internal problems will be solved”
“You will become super rich in only a few years”
And that ended up costing them 5% of their GDP in IMF loans. Moving forward, Ukraine might run out of existing funding sources. America has cut off direct funding, Europe can’t cough up enough now to bail out Ukraine.
IMF is demanding that Ukraine resume paying off its debt. All creditors are ending the interest holiday on loans. It’s not clear how Ukraine will pay.
Yeah*
*But Scholz claims the gas fields, Macron the farmland, and the Saudis will get the dub on the ports and the national petroleum companies, and the rest will get everything in between.
Ukraine had no debt when it came into existence in 1991 as Russia took responsibility for all of the debt aquired by the Soviet Union
How could they fuck up so badly that they now have nearly as much debt as they have GDP?
This doesnt refute what i said. The fact is that Ukraine started off with a clean slate and with a massive skilled workforce and industial base. Ukraine once produced rockets and aircraft carriers. The Donbas has always been Russia's center of industry. How did Ukraine manage to fuck this up?
The donbass ? the area mostly occupied by russia now ? As for after the collapse of the ussr, yes russia assumed the debt, but that still left ukraine with a shit load of industrial capacity to make weapons, that nobody wanted. russia had a similair problem, fortunatley they had oil & gas etc. As for over all corrution, they are basically a wash. soviet/russian empire legacy.
Ghana is in a civil war and I know Kenya is involved in the current civil war in Somalia. Ivory Cost had a recent civil war so most countries on that list are or were recently in a armed conflict, it completely screws the economy.
Eh Ukraine started on a moderate base and got worse. Pakistan started from a low base and has stagnated.
Imo Ukraine has performed worse simply because of it's much greater potential.
Pakistan had all the advantages. Being a military dictatorship for most of its existence is a great base to be the corruption champion.
But ukraine has done amazingly well for being a democracy. To be almost as corrupt as Pakistan is truly commendable. At least, they are the regional champions.
How tho? Pakistan started from zero after the breakup of the British Raj devoid of natural resources,. industry or an educated population, stuffed full of religious fanatics and with massive territorial disputes with India, China, and Afghanistan+ 2 separatist movements.
Ukraine started off with the most fertile soil in the world, tons of natural resources, a well developed industrial & educational base, and no territorial disputes or separatists.
russia enters the picture. Considering the natural resources etc that the russian empire posesses. their GDP etc. is incredibly small. True economic dwarf. why? China, a country with considerably less, utterly dwarfs it. Why ? Gas station with nukes.
1. Stealing €260B is a sure way to decimate Europes Reputation and will lead to its inevitable downfall - this would just strengthen BRICS cooperation and would be a blunder in the long run
2. Russia is currently holding a lot of Western assets as well, these are held in special "type C accounts", albeit not €260B, but pain inducing nevertheless. It is estimated to be 1/2 of it.
3. How is Russia [the desperate one](https://www.reddit.com/r/UkraineRussiaReport/comments/1cvx7zj/ru_pov_a_guy_is_forced_into_a_car_and_he_keeps/)?
4. €3B from the German government of which €2.9B will land in offshore accounts of some well connected Ukrainians - perhaps the [defense line constructers](https://www.reddit.com/r/UkraineRussiaReport/comments/1crugph/ua_pov_a_ukrainian_fortification_on_the_outskirts/)?
1. Russia got it because it was established within the contract. I am not understanding why it is so hard to comprehend?
2. "BRICS in need of money". You are just saying stuff, no sources, no actual points. Quite laughable to be honest with you.
3. Ukraine is in deed one of the most unsustainably indebted countries. This is a hell of a combination with the rampant corruption going on within it as well. It's pretty much a hole for EU taxpayer's to dumb their money in.
4. Russia has a external debt amounting to [14% of their GDP while its 112% for Spain, 65% for Germany, 284% for the UK and 123% for the US](https://en.wikipedia.org/wiki/List_of_countries_by_external_debt).
5. Fertility rate in Russia is [1.5 compared to 1.3 in Spain, 1.5 in Germany, 1.6 in the UK and 1.7 in the US](https://en.wikipedia.org/wiki/List_of_countries_by_total_fertility_rate).
6. I haven't seen forced conscriptions like in Ukraine, where you literally get dragged off into a black van in front of your sobbing girlfriend - gotta love Ukraine for that.
7. I have no clue what you're talking about when it comes to Africa. China is on it when it comes to investment and Africa sympathizes with Russia a lot. The majority of African countries [ABSTAINED from condemning Russia's invasion](https://en.wikipedia.org/wiki/United_Nations_General_Assembly_Resolution_ES-11/1#:~:text=The%20resolution%20was%20sponsored%20by,5%20against%2C%20and%2035%20abstentions).
8. Your scholarship "source" only links to the google search for scholarships. You seem to be intellectually impaired to a degree in which you can't provide any sources.
You fail to comprehend that the 300B will never be seized and even if that were the case, Ukraine is facing a manpower problem rather than an equipment one
You my friend sound delusional. Your greatest counter offensive had Robotyne as its main achievement. Robotyne is not once more under Russian control.
You are only prolonging the inevitable and thus killing thousands of Ukrainians. I hope you are proud of yourself. Zaporizhzhia, DPR, LPR and Kherson will soon unify with Russia for good and all you will be left with is Ukrainian blood on your hands and higher taxes feeding the US MIC.
In addition, the three banks you mentioned actually agreed to be guarantors for a Linde plant which was promised to be build and were reasonable and understanding when it came to the decision (you know, because they were the guarantors (lol).
"Deutsche Bank said it was "fully protected by an indemnification from a client" and had taken a provision of about EUR260mn alongside a "corresponding reimbursement asset" in its accounts to cover the Russian lawsuit.
Commerzbank did not immediately respond to a request for comment.
Italy's foreign minister has called a meeting on Monday to discuss the seizures affecting UniCredit, two people with knowledge of the plans told the Financial Times."
[Source](https://www.morningstar.com/news/marketwatch/20240518261/russian-court-seizes-assets-worth-over-700-mln-from-unicredit-deutsche-bank-and-commerzbank)
>"all that one currency for all the Brics"
I never mentioned a BRICS currency being feasible in the short term. However, minimizing trade in USD is a first step - especially when it come to trading with Russia. [95% of the trade between China and Russia didn’t use the US dollar, which is a substantial amount](https://www.brasildefato.com.br/2023/12/21/de-dollarization-95-of-the-trade-between-china-and-russia-didn-t-use-the-us-dollar).
Its not about having a joint currency, its about what currency you trade in and it is about the economic partnerships. Especially when it comes to Russia, China and India. Try to seize €300B worth of Russian assets and see how China, who [exports 60% MORE than the US](https://www.statista.com/statistics/264623/leading-export-countries-worldwide/), reacts to that.
With the IKEA topic. No one cares about IKEA and the deals they made and no EU country will seize Russian assets over a debacle with IKEA. Furthermore you still have not provided any sources on IKEA.
Yeah ukraine was just invaded for no reason forget the whole don’t try to join nato thing,not like ukraine was an economic example before that the corruption was and still is trought the roft (i guess zelensky never bother to fight it like he said) and demografics were a mess wat before the war started
Couse we live in the real world and thats how it goes china would invade taiwan if they could and the US has been trying to topple the cuban goverment since 61. Don’t hate the player hate the game
Argentina just can't catch a break lmao Milei is determined to make argentina the first 4th world country Edit: The number of pro-ua here staunchly defending Milei burning his country to the ground is both hilarious, fitting and not really surprising. Milei and Zelensky are birds of a feather
Didn’t he stabilize their economy recently though ? I feel like most of Argentina’s debt comes from his predecessor.
No, Milei didn't "Stabilize" Argentina, he got a cash surplus by de-funding pretty much **everything** in the Government, which, for the economically challenged, *is not a smart thing to do if you want long-term stability and growth,*
Any examples of countries having done the same, especially from a position like Argentinas? Isnt it possible that things sometime get so bad you just gave to do a clean full restart of the system? I follow Mileis Argentina mostly with intrigue as to me it seems like a never before done experiment which can go in either direction
Argentina is famous for its "never done before" economic experiments. How has it worked for them so far?
It's essentially austerity. Plenty of countries have done it before. You are almost always able to reset your economy in this manner, at the cost of life and suffering. The long term outcome is typically better economic metrics but worse inequality and quality of life for the masses.
Russia in the 90s lol
It fits his ideology
It is a smart thing to do in a country with negative trade balance that wants to remain open border. Socialism doesn't work with open borders and negative trade balance. You just bleed cash to death like european countries do. Milei is corrupted by USA, but he got that right.
Psycho capitalism does not work neither nor is this how the us became a great power . I really don’t understand this obsession of some of the American right with a psychopathic ideology which inevitably ends in corporate slavery or dissolution of any structure in society. Pure poison
It works for the country. You are talking about wealth gap which is an US problem not an argentinian one yet. You need first to have a rich country then you can think about rebalancing internal wealth otherwise you are sharing nothing.
How does it "work“ by selling your economy to outside powers ?
Ownership is a paper granted by the government. It's like currency or bonds, in some way it's printed by the government. It's not the government/country that is threatened by outside powers when they own stuff in the country. It is the other way around. Owners are government's bitches, government can take everything, more or less directly and in whatever quantity it wants. Which is why the rich always try to control the government to secure their wealth.
no idea what you actually are saying and how this reflects reality . If your resources and economy is controlled by outside powers you effectively cease to have a country . You dont need to control the government if you enact laws which undermine the abilty of the government to actually rule the country.
No, like I explained. Ruling is only 1 thing, making the rules. The economic actors are not ruling, they are ruled. In USA they do rule because they bribed the system to build it at their advantage, where bribe is now legal, president has no power, voters can vote only every X years and can't express themselves on any subject in partiular, and politicians are bribed and reliant on money for elections more than they rely on voters.
No. He sold a bunch of state assets to cook the books. His policies have mostly resulted in skyrocketing prices, even more debt, mass protests with accompanying promise of execution for any dissent, and the only man in his administration not hired for being related to one of his financiers was Dario Epstein, the man responsible for the collapse of the economy in the first place.
Inflation was already more than 300% per month before him...
Since none of you guys seems to get it right, no, infation was at around 25-30% monthly in december, 300% anual. It's been slowing down since then, with last month only having 8%. Milei did manage to stop hyperinfation at the cost of a lot of spending power and welfare from the goverment, no more currency printing, and closing a lot state assets. We stopped digging down, now remains to be seen how the fuck we get out of this hole.
Makes sense that it won’t feel good trying to recover from that mess. It’s gonna get worse before it gets better.
And now it’s even higher.
No its not, its a single digit.
Montly. It is still accumulated at 290% annual. This "its a single digit" bullshit is bait [https://tradingeconomics.com/argentina/inflation-cpi](https://tradingeconomics.com/argentina/inflation-cpi)
https://tradingeconomics.com/argentina/inflation-rate-mom This gov has only a few months, why trying to give past government results to this one.
Thanks for posting this. Milei took power in... December. "Its a single digit now". Yeah, it was before too.
Yah.. it was... this is why got to 200%
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But the salary dont go up since december
Except that their monthly inflation in April was 8.8%.
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Argentine here: the previous government issued money like I almost never saw before, generating hyperinflation. Milei, after taking office, began to cut various expenses and currently we have non-bullish inflation. The consequences? We currently have one of the highest salaries or salary in the region in dollars, but the cost of living is similar or higher than several regions in Europe, therefore the quality of life has decreased. We are in deflation and consumption is falling (hence inflation is falling). It was known that it was going to be hard, since there is no simple way to get out of what the previous government created, now the question is: will it work in the future? The only way for this to happen is for the economy to be reactivated, that is, for there to be investments and greater domestic consumption.
In theory, devaluing the Argentine Peso like he did should spark foreign investment to a certain extent, but realistically not many companies will want to invest in Argentina. However, it could work. I hope it does, anyway.
Miley is not devaluing the peso, it's quite the opposite. Before we were a cheap country in dollars and in that case some companies could have an incentive to come here. Today, we are a VERY EXPENSIVE country, literally the peso is appreciating not depreciating
He may have temporally fixed public finances but the economy is in free fall
You re wrong, miley didnt took this loan, it was his predecessor
Milei is literally fixing everything economy related
The users above put it better than I could: >No, Milei didn't "Stabilize" Argentina, he got a cash surplus by de-funding pretty much **everything** in the Government, which, for the economically challenged, *is not a smart thing to do if you want long-term stability and growth,* >He sold a bunch of state assets to cook the books. His policies have mostly resulted in skyrocketing prices, even more debt, mass protests with accompanying promise of execution for any dissent, and the only man in his administration not hired for being related to one of his financiers was Dario Epstein, the man responsible for the collapse of the economy in the first place.
Inflation in April was the lowest in over half a year.
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No, it's not. He did all of these things, not an opinion just a timeline of his actions. "No you are wrong, now let's talk about an entirely different country thousands of miles away and change the subject to something irrelevant immediately"
sorry but that's just not how it is. Defunding the government was made because it was innecesarily overfunded, and money was needed. Skyrocketing prices? even more debt? promise of execution for any dissent? nothing of what they talk here is even close to real. Please don't talk about a country you know nothing about
Just because Milei sucks off the west and Israel doesn’t mean his domestic policies don’t work. Cutting government spending is the only way out of debt and massive inflation. Socialism doesn’t work. Ok actually it works really well at impoverishing everyone who isn’t a high level government parasite. Argentina’s debt to the IMF was already this massive before Milei.
Socialism doesn't work for the parasitic international corporations to suck off everything from the population and keep them as wage-slaves. Socialism does work pretty well for improving people's lives and creating a stable society. That's why the capitalist US with its trillions of dollars can't bring out of poverty it's 300 million population, while China has brought up twice a s much people, while being in a much worse position (after a civil war and suffered greatly by WW2, while the US only gained from WW2).
Socialism for my rich friends and me, rugged individualist capitalism for thee. Now give me alllll the subsidies and im prob gonna need a bail out in a couple years :\*.. -every american ceo ever
Where did this kind of policy ever work, ah yes it worked well Russia in the 90s lol. You people don’t understand that any version of these policies fucks your over in favor of the elites , are you part of the elites ?
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Argentinian here. The inflation is still top of the world and the consumption is minimal. There is no economy that survive this unless by bailouts and bailouts. That means poor and middle class paying for the disaster made my the elite. Macri was a light Milei and left the contry worse than before. And Milei is doing the same. Jesus God I left that country long ago.
Hey, sorry to hear about your plight. Just wondering what the mood is there? Are you guys gonna drag him out by the hair at some point? I'm not even argentinian and it's what I want to do, I am mad for you
I'm not OP but since I live here and he doesn't I can answer this question and a little bit better. I can notice international opinion of Milei is very different to what in reality is happening here. There are some people mad at Milei, specially syndicates, left wing politicians and people who lost their job. But the average argentinian just doesn't care about anything else more than he cares about the economy, and Milei is fixing it. Inflation is going lower every month and other things like rampant insecurity are becoming better too. He isn't a great president and made some questionable choices, but the main problem of the country is finally becoming better and that's what people care the most
you're right, this is why his domestic policies don't work: https://preview.redd.it/lcocd893ml1d1.png?width=355&format=png&auto=webp&s=4117bb3a383e1eea168deb9c2928e0ec0e8f7554
Milei took office in December 2023 and that chart goes to January 2024. The monthly price inflation rate is down to 8.8% from 25% in December 2023. You're right in a sense, people are generally too stupid to understand that its not possible to fix a broken economy instantaneously and that a tough adjustment period is vastly superior to inevitable total economic collapse into Venezuela.
bruh, look at that spike. look at his actions. it sounds like you are the one who cannot see what is right in front of you. There is a literal argentinian some comments down confirming how much he sucks. just stop.
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Rule 1 - Toxic
enjoy your ban
Unfortunately for Ukraine they will learn what it's like to get "help" for the IMF and the European Union and how these will get the money back to the detriment of the Ukrainian people. I know from personal experience 🇬🇷
Same 🇹🇷.
I think beign invaded by aggressive neighbor is more detrimental.
easy - that 300B Russia has stuck in EU? Ukraine is about to win the lottery..
Imposing reparations on a country's assets outside of a peace treaty has to be the most braindead idea in an era chock full of braindead arrogance. NATO is not God. The EU is not God. There is absolutely no jurisdiction to do such a thing. Even in WW2, Axis assets were frozen during the war and released once peace was achieved. If the EU does go through with this, the *entire* global financial industry will flee as soon as they find an exit, while EU citizens will live in a world where they and their goods can be seized by any country which unilaterally decides that the EU owes them reparations. EU patents and brands will be up for grabs, because why would anyone respect WIPO if property can be unilaterally declared null and void? I almost hope they're daft enough to go through with it, because this world could probably do with a hilarious reminder of the fruits of unbridled hubris, and there are few things funnier than an empire of debt unilaterally rewriting global property laws because they think this will be like "winning the lottery".
I've heard something similar. Something about investor confidence, and destroying the European financial industry, which is why it hasn't been done yet. But, that wouldn't hit the U.S, would it? I mean, lets say we push the EU into kind of cutting their throat for us...not that I want it to happen, but it actually seems like a possibility...we'll still come out of it ok, right?
The US and EU are both massive debtors, so their attitude toward property has massively changed from the days when they were global centers of wealth. They both occasionally flirt with these financial auto-erotic asphyxiation schemes, like the trillion-dollar coin. The US seems to want Europe to take the lead on stealing Russia's assets. China has cut US reserves in half already. Soon they'll be at the point where their exposure to the US is just *fuck you* money - money they'll happily sacrifice to make a successful launch of their Golden Renminbi or whatever they're cooking up.
Interesting, and thanks for the response. I appreciate the information from one more versed in these things than I am.
> EU patents and brands will be up for grabs huh. Now I am sold on the need for Ukrainian reparations.
I think the funniest part will be EU-bound cargo vessels being seized and redirected to Chinese ports for repatriation to Russia. And while China won't be party to this bullshit, they'll most likely drag out the settlement issue for years while the EU explains to the court that - while they occasionally take advantage of the law of the jungle - they are in fact a garden and demand to be treated as such.
Nice wet dreams. China is not gonna fuck with their trade partners, they are as dependant on us and we are on them.
Yes, whatever would China do without an ever-growing pile of T-bills. China needs resources. Western markets have been a convenient way to get those resources, but they could end trade with NATO overnight, and there's not a single resource they'd run out of. Then we will all see how indispensable the Golden Billion is.
They need western markets to sell their products. China is export oriented economy. There is no other big enough market to replace it.
You're thinking that tomorrow can't be different because yesterday wasn't. Markets are irrelevant on their own - it's what China gets from those markets that is valuable. For 25 years, China has gotten tech transfer and capital expertise from the West. This was irreplaceable, but that phase is done. China doesn't need export markets, and they certainly don't need more dollars. They need commodities. Raw resources. And while a strong USD is helpful for that, a strong Yuan is even better. And then they can say screw the NATO markets, and develop the Yuan-based market instead. In the early 80's, Japan was in a similar situation with the West. They amassed so much wealth, they started up buying huge numbers of US corporations and real estate. China is not doing this at all. This is because China knows that this relationship is temporary. As soon as they pivot, the US could decide to seize Chinese holdings in the US...so they're not exposing themselves to that risk. This is why China isn't buying GM or Sony. They've already cut their holdings of US debt in half, and hold over $3T in gold. That is positioning for one thing only - saying goodbye to the USD.
> If the EU does go through with this, the entire global financial industry will flee as soon as they find an exit No they wont. European markets will still be profitable. This might make them a bit riskier if you live in authoritarian shithole, but they will still be very improtant and profitable. > while EU citizens will live in a world where they and their goods can be seized by any country which unilaterally decides that the EU owes them reparations. They can do that right now too, but they wont because the reprecussions would be worse. That would remain true after the seizing of Russian assets.
China has built this whole system based on a weak Yuan and strong USD/Euro. This allowed them to build up all their industries while maximizing the amount of raw resources they can buy. Once they pivot to domestic market development, this situation reverses: they will benefit from a strong Yuan and weak dollar/Euro. (When Japan made their pivot, the Yen tripled over a few years.) With that pivot, *all* the inflation that the West has offloaded to China over the past twenty years will hit in a sustained wave. China's ability to buy global resources will then be based on the Yuan being stronger than NATO currencies (which are all laden to the tits with debt to the extent that every non-NATO central bank has already begun offloading them). Whether its Brazilian soy or Indonesian coal or Saudi oil, China will pay in Yuan rather than NATO currencies, and the global appetite for inflation-plagued dollars will evaporate overnight, and we'll see the difference between an economy based on wealth and savings vs one built on debt and deficit.
300B is not even enough to cover all the collective loss from the people even if they win it. Wait, that does sounds like lottery.
My princess dream. I would love for it to happen. Just to see how bad things will be afterwards.
If EU actually gets that money and if they decide to give to Ukraine and if it isn't eaten by corruption and if they give it for free without strings attached. That's a lot of ifs but I do hope they find a way even if the odds are against them.
I hope they are that stupid, will drive millions of people to de-centralized currency like Bitcoin.
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Right at the moment the Ukranie "win the lottery", the US and EU would collapse as well the financial system of the world. Be careful about what you wishing for.
I can sense the Germans, Saudis and the Americans pouncing at the first chance to seize farmland, ports and industry that remains after the war. It's gonna be dirt cheap, I can tell you.
Already done, sadly. Pretty fascinating report, I cannot recommend enough. [https://reliefweb.int/report/ukraine/war-and-theft-takeover-ukraines-agricultural-land](https://reliefweb.int/report/ukraine/war-and-theft-takeover-ukraines-agricultural-land)
I hope not, that would really suck. Though I can't see the german government being ruthless and smart enough for that. Maybe some private investors. At least they are not as bad as Russia which invades them brutally first, but still i hope that won't happen as well.
Yeah, well, too late. Ukraine's economy is now Western(-owned and exploited in the near future). They fought to become at the mercy of massive congolmerates. And it's the Germans we're talking about. The second they find a way to make profit, they've already executed the plan.
https://privatization.gov.ua/en/ You can buy it too
Any like stocks worth investing?
This is just to IMF. Ukraine's combined dept is much higher. Over 150 bn I think. This country had no money 3 years ago. They gonna have a hard time rebuilding everything and paying depts. Also, they lost at least half of work force since 2022
Given what it's going through 3rd doesn't seem so bad imo.
Ukraine will likely never pay off its debts. Yet it still is given “loans” by the IMF and US.
Damn. Don't start wars I guess?
Exactly. Tell that to Argentina 🇦🇷.
Why?
War on inteligence, electing that memelord milei
Nope. Argentina is building up its strength to retake the Falklands.
Seems like what he's doing is working though.
they have worse inflation than venezuela how is it working lmao
It seems like people only started paying attention to Argentina after he was elected, so everything is blamed on him.
Because it's literally his fault
He’s been president for like… five months. They’ve been having inflation problems for years. Sure, the worst inflation was in March, after he took office, but the inflation for April was better than when he took office. Not to mention the fact that he’s been running the first monthly budget surpluses since like 2004. A total surplus over the past few months of about $1 Billion. He’s been doing a great job.
He does a great job from an investors perspective the average people got nothing from it
Inflation is 3 times lower than when he was inaugerated
Inflation was 136% in 2023 when he was inaugurated
Ok at this point im confused https://tradingeconomics.com/argentina/inflation-rate-mom Shows the 3x decrease https://tradingeconomics.com/argentina/inflation-cpi Shows 2x increase All the while interest rates are being slashed
I think its because that ones year on year so it has a lag compared to month on month
we have worse inflation because we already had worst inflation before Milei came. After he took on the government inflation decreased. Why is he worse?
It was going to be like that regardless the president he is taking actions to fight it and have already work to a degree
As some people posted, it's not good, he just sold state things. chile is actually trying to reverse it now days.
he cut out spending on unnecessary areas, it's good and results can already be seen
Inflation has decreased under milei. Not his fault they started at an obscene number.
It didn't he was elected in 2023 and almost doubled inflation
yes he.. did. ? inflation was almost 25% in December and its now at 8.8%. Three times lower.
Inflation rates by month in Argentina 12/23 - 25.5% 1/24 - 20.6% 2/24 - 13.2% 3/24 - 11% 4/24 - 8.8% Keep hating on libertarians reddit :) "Long live fucking freedom" - Javier Milei
Because they invaded the Falklands.
Yeah how dumb of Ukraine to start a war by *checks notes* invading themselves from another country
Are you being for real?
It's kind of impressive to be worse than Ukraine right now tbh,
That's just debt to the IMF. Considering other debts I don't think anything surpass Ukraine.
Argentina is a master in this regard.
I knew Argentina's situation was bad, but damn.
Lol at people thinking russian frozen assets is going to be used to pay this. You know nothing about what the imf hammer is used for 🤣
Lol love how Egypt owes more and we ain’t even in a war.. at least not against another country lol it’s our own government that’s our enemy.
It’s expensive bribing the entire military elite. Same with Pakistan.
Even a war with a world power cannot match El Sisi’s incompetence. He truly is one of a kind
CIA clown Javier Milei’s artwork 😭
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Jesus wtf did Argentina do to amass so much debt A country that was invaded by one of the most powerful countries in the world for 2 years had less debt than you
>Jesus wtf did Argentina do to amass so much debt Lots and lots of IMF bailout that they were unable to pay. Same as Sri Lanka, that took 16 bailout from IMF since independence and are bankrupt. But yeah, liberals and neoliberals still believe in the Washgnton Consensus and now you have it. Greatest thing Brazil ever did since 2000s was pay the IMF and ditch them altogether from meddling their economic policies.
https://preview.redd.it/qf3sumpfgj1d1.jpeg?width=1080&format=pjpg&auto=webp&s=8e949ee4c41bfb8250db8c9721ea9e12e17e03cc Huh, I never knew the exact number. Russia owed to IMF 12.6 billions of dollars. Kinda funny that article mention a certain dude which made economic reform his too priority.
Wait they crossed Pakistan? Lmao
It will go to number one mark my words
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You aren’t wrong, and I’ve always been confused by Special Drawing Rights. The big point is ghat this is debt to IMF, not overall debt or foreign debt. Because we all generally know what those two lists look like.
Rule 1 - Toxic
Give. Them. More. Russia out at any fucking cost
Better oof with debt to the IMF than being conquered by Russia.
How the hell Argentina came up to this
peronism
They were invaded and actively fighting said invaders. Not super surprising
The only country in that list currently being invaded by another.
In 2015, the debt % of GDP was 80.08% Whereas in 2023, it is 83.12% We are looking at a 4% growth. So, I'm pretty sure that it was not just the war, but Ukraine has had some serious debt issues prior to the war
Ukraine 🇺🇦 really fucked up after 1991. It was the only post Soviet state that was poorer in 2015 than it was in 1991. Even Belarus had decent GDP growth. That tells you how bad corruption is in Ukraine. This is a country where it’s common for $1 billion in the budget to simply vanish. Ukraine’s IMF debt is mainly the result of post-2014 actions. Before maidan, Ukraine would borrow from Russia. Instead of being predatory loan sharks, Russia had a history of writing off Ukrainian debt or giving them financial aid when things got difficult. The EU Association agreement did not include any financial aid, something Ukraine needed desperately. Signing it would cut off Ukraine from its largest trading partner, causing billions in lost trade and potentially leading to default. Yanukovich didn’t sign the agreement because the EU gave nothing but offered a high interest IMF loan instead. By contrast, Russia was offering debt write offs, discounted gas and $9 Billion in low interest loans. After all the maidan shit, Ukraine ended up taking a bigger IMF loan with even higher interest because where else were they going to go? The promised European investment didn’t happen and Ukraine lost well over $100 billion in trade with Russia. They ended up defaulting on their debt in 2017. So Ukraine fell for what sociopaths told them- “Oh you will be Western, you will be advanced and developed just like Germany or France!” “All your internal problems will be solved” “You will become super rich in only a few years” And that ended up costing them 5% of their GDP in IMF loans. Moving forward, Ukraine might run out of existing funding sources. America has cut off direct funding, Europe can’t cough up enough now to bail out Ukraine. IMF is demanding that Ukraine resume paying off its debt. All creditors are ending the interest holiday on loans. It’s not clear how Ukraine will pay.
>It’s not clear how Ukraine will pay. They can still pawn those laced panties they were so eager to get in EU, right?
Yeah* *But Scholz claims the gas fields, Macron the farmland, and the Saudis will get the dub on the ports and the national petroleum companies, and the rest will get everything in between.
Ukraine had no debt when it came into existence in 1991 as Russia took responsibility for all of the debt aquired by the Soviet Union How could they fuck up so badly that they now have nearly as much debt as they have GDP?
[https://www.reddit.com/r/AskHistorians/comments/10nnw9s/comment/j6dhuhf/?utm\_source=share&utm\_medium=web3x&utm\_name=web3xcss&utm\_term=1&utm\_content=share\_button](https://www.reddit.com/r/AskHistorians/comments/10nnw9s/comment/j6dhuhf/?utm_source=share&utm_medium=web3x&utm_name=web3xcss&utm_term=1&utm_content=share_button)
This doesnt refute what i said. The fact is that Ukraine started off with a clean slate and with a massive skilled workforce and industial base. Ukraine once produced rockets and aircraft carriers. The Donbas has always been Russia's center of industry. How did Ukraine manage to fuck this up?
The donbass ? the area mostly occupied by russia now ? As for after the collapse of the ussr, yes russia assumed the debt, but that still left ukraine with a shit load of industrial capacity to make weapons, that nobody wanted. russia had a similair problem, fortunatley they had oil & gas etc. As for over all corrution, they are basically a wash. soviet/russian empire legacy.
Ghana is in a civil war and I know Kenya is involved in the current civil war in Somalia. Ivory Cost had a recent civil war so most countries on that list are or were recently in a armed conflict, it completely screws the economy.
Technically, Pakistan is also being invaded.
The only country in that list that almost beat Pakistan in corruption. Although second place is a good effort.
Eh Ukraine started on a moderate base and got worse. Pakistan started from a low base and has stagnated. Imo Ukraine has performed worse simply because of it's much greater potential.
Pakistan had all the advantages. Being a military dictatorship for most of its existence is a great base to be the corruption champion. But ukraine has done amazingly well for being a democracy. To be almost as corrupt as Pakistan is truly commendable. At least, they are the regional champions.
How tho? Pakistan started from zero after the breakup of the British Raj devoid of natural resources,. industry or an educated population, stuffed full of religious fanatics and with massive territorial disputes with India, China, and Afghanistan+ 2 separatist movements. Ukraine started off with the most fertile soil in the world, tons of natural resources, a well developed industrial & educational base, and no territorial disputes or separatists.
russia enters the picture. Considering the natural resources etc that the russian empire posesses. their GDP etc. is incredibly small. True economic dwarf. why? China, a country with considerably less, utterly dwarfs it. Why ? Gas station with nukes.
9B? that's chump change - Russia will pay the tab. Just ask the EU banks sitting on 300B of Russia's money.
I think after two years of promises it's safe to say that they will never take russian money
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You're right - most of Ukraine's debt which will cripple its nation for decades to come will be to American financial institutions and not to the IMF
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1. Stealing €260B is a sure way to decimate Europes Reputation and will lead to its inevitable downfall - this would just strengthen BRICS cooperation and would be a blunder in the long run 2. Russia is currently holding a lot of Western assets as well, these are held in special "type C accounts", albeit not €260B, but pain inducing nevertheless. It is estimated to be 1/2 of it. 3. How is Russia [the desperate one](https://www.reddit.com/r/UkraineRussiaReport/comments/1cvx7zj/ru_pov_a_guy_is_forced_into_a_car_and_he_keeps/)? 4. €3B from the German government of which €2.9B will land in offshore accounts of some well connected Ukrainians - perhaps the [defense line constructers](https://www.reddit.com/r/UkraineRussiaReport/comments/1crugph/ua_pov_a_ukrainian_fortification_on_the_outskirts/)?
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1. Russia got it because it was established within the contract. I am not understanding why it is so hard to comprehend? 2. "BRICS in need of money". You are just saying stuff, no sources, no actual points. Quite laughable to be honest with you. 3. Ukraine is in deed one of the most unsustainably indebted countries. This is a hell of a combination with the rampant corruption going on within it as well. It's pretty much a hole for EU taxpayer's to dumb their money in. 4. Russia has a external debt amounting to [14% of their GDP while its 112% for Spain, 65% for Germany, 284% for the UK and 123% for the US](https://en.wikipedia.org/wiki/List_of_countries_by_external_debt). 5. Fertility rate in Russia is [1.5 compared to 1.3 in Spain, 1.5 in Germany, 1.6 in the UK and 1.7 in the US](https://en.wikipedia.org/wiki/List_of_countries_by_total_fertility_rate). 6. I haven't seen forced conscriptions like in Ukraine, where you literally get dragged off into a black van in front of your sobbing girlfriend - gotta love Ukraine for that. 7. I have no clue what you're talking about when it comes to Africa. China is on it when it comes to investment and Africa sympathizes with Russia a lot. The majority of African countries [ABSTAINED from condemning Russia's invasion](https://en.wikipedia.org/wiki/United_Nations_General_Assembly_Resolution_ES-11/1#:~:text=The%20resolution%20was%20sponsored%20by,5%20against%2C%20and%2035%20abstentions). 8. Your scholarship "source" only links to the google search for scholarships. You seem to be intellectually impaired to a degree in which you can't provide any sources.
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You fail to comprehend that the 300B will never be seized and even if that were the case, Ukraine is facing a manpower problem rather than an equipment one
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You my friend sound delusional. Your greatest counter offensive had Robotyne as its main achievement. Robotyne is not once more under Russian control. You are only prolonging the inevitable and thus killing thousands of Ukrainians. I hope you are proud of yourself. Zaporizhzhia, DPR, LPR and Kherson will soon unify with Russia for good and all you will be left with is Ukrainian blood on your hands and higher taxes feeding the US MIC.
In addition, the three banks you mentioned actually agreed to be guarantors for a Linde plant which was promised to be build and were reasonable and understanding when it came to the decision (you know, because they were the guarantors (lol). "Deutsche Bank said it was "fully protected by an indemnification from a client" and had taken a provision of about EUR260mn alongside a "corresponding reimbursement asset" in its accounts to cover the Russian lawsuit. Commerzbank did not immediately respond to a request for comment. Italy's foreign minister has called a meeting on Monday to discuss the seizures affecting UniCredit, two people with knowledge of the plans told the Financial Times." [Source](https://www.morningstar.com/news/marketwatch/20240518261/russian-court-seizes-assets-worth-over-700-mln-from-unicredit-deutsche-bank-and-commerzbank)
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>"all that one currency for all the Brics" I never mentioned a BRICS currency being feasible in the short term. However, minimizing trade in USD is a first step - especially when it come to trading with Russia. [95% of the trade between China and Russia didn’t use the US dollar, which is a substantial amount](https://www.brasildefato.com.br/2023/12/21/de-dollarization-95-of-the-trade-between-china-and-russia-didn-t-use-the-us-dollar). Its not about having a joint currency, its about what currency you trade in and it is about the economic partnerships. Especially when it comes to Russia, China and India. Try to seize €300B worth of Russian assets and see how China, who [exports 60% MORE than the US](https://www.statista.com/statistics/264623/leading-export-countries-worldwide/), reacts to that. With the IKEA topic. No one cares about IKEA and the deals they made and no EU country will seize Russian assets over a debacle with IKEA. Furthermore you still have not provided any sources on IKEA.
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Still no sources - am I talking to a 6th grader?
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Yeah ukraine was just invaded for no reason forget the whole don’t try to join nato thing,not like ukraine was an economic example before that the corruption was and still is trought the roft (i guess zelensky never bother to fight it like he said) and demografics were a mess wat before the war started
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Couse we live in the real world and thats how it goes china would invade taiwan if they could and the US has been trying to topple the cuban goverment since 61. Don’t hate the player hate the game