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Revolution Blog

Debt Circus Reaches New Heights

Published on 2012-10-06
Recently, the efforts of a US-based hedge fund to collect on bonds owed by Argentina made the news when a ship belonging to the Argentine navy was impounded in Ghana:

Hedge fund seizes ship(external link)

Seized Ship Remains in Ghana(external link)

The ARA Libertad(external link)

What can one say but LOL.

Highly amusing how being asked to pay your debts is described by the Argentine socialists as "extortion" and "violation of diplomatic immunity." Sovereign immunity means you're immune from having to pay your bills! Perhaps the funniest bit is that virtually every other state in the world has much the same story as Argentina, just a few chapters behind.

Of course if the "vulture funds" really want to collect from all those states, they'd sure better get to work building up their military forces. One 60yo sailing vessel won't get them very far. ;-)