Argentina Debt Crisis: U.S. Demands 1.5 billion cash (Bitcoin to Rescue?) - page 6.

franky1

legendary

Activity: 4424

Merit: 4794

Quote from: beetcoin on June 17, 2014, 02:22:06 PM

wait, why is it extortion on debt? if you owe the money, then you have to pay it.. no? can't blame a debt collector from collecting debt.

guess you missed the video's about how mortgages, loans, credit is how money is created.

US 'created' money (no true value went to argentina) but now US wants true value back

now that most people understand bitcoins and altcoins.. i can use a crypto analogy to explain FIAT, rather then the other way around

imagine the USA made an altcoin, called BONDScoin. and said each bondscoin was worth 1million bitcoins (purely because they said so) and then gave 1 bondscoins to argentina. stipulating that they dont want the bondscoins back, but they do want 1.5 million bitcoins back

Cicero2.0

member

Activity: 98

Merit: 10

★☆★Bitin.io★☆★

The will just devalue their currency even more to pay it. We play the bad guy so a corrupt regime can stay in power. Angry

LostDutchman

sr. member

Activity: 476

Merit: 250

It should be remembered that the reparations forced onto Germany by the Versaiiles Treaty of World War One were finally paid off in 1980, some 62 years after the end of that brutal conflict.

Honeypot

sr. member

Activity: 420

Merit: 250

It's strange that Argentina borrows from another with relatively wide berth in terms of conditions, than calls it 'extortion' when they are meant to return that money.

Argentina had a responsibility towards its citizens to straighten themselves out, and understand that loan obligations is something they have to take into account. Right now they are just funneling and diverting their own failures to anti-US sentiment, while obviously failing to do what they need to do for their own economy with someone else's money.

BECAUSE they are nominally allies, they need to hold themselves to such standards and be straight forward with us in their dealings. Argentina has a history of defaulting conveniently when it suits them best, while taking advantage of the agreement at the expense of others and breaching contractual agreements.

This one has actually been dragged out too long. Argentina is obligated to itself to take care of its own business while meeting the mutual conditions of loans it gets from others. To attempt to frame this as an 'extortion' is a pretty sorry ass excuse.

beatljuice

full member

Activity: 196

Merit: 100

Quote from: acs267 on June 17, 2014, 02:28:13 PM

Quote from: beetcoin on June 17, 2014, 02:22:06 PM

wait, why is it extortion on debt? if you owe the money, then you have to pay it.. no? can't blame a debt collector from collecting debt.

In my life time, I don't even think the U.S will come close to repaying our debt. It's so huge everyone basically has a 'debt' on them.

But I agree with you. And moving to Bitcoin doesn't help, since the IRS view it as property. Argentina sort of has it bad, also, due to the corruption and such. And if a country want's their money, I'm a hundred percent sure they're going to go through Hell's Bounds and back.

While I agree that a creditor has a right to collect, why the f*&k are they doing it now? Are they trying to cause a collapse? We (the US) send billions to other countries all the time to help them out, why are we now hurting the economy of someone that I assume is an ally?

acs267

hero member

Activity: 644

Merit: 500

Quote from: beetcoin on June 17, 2014, 02:22:06 PM

wait, why is it extortion on debt? if you owe the money, then you have to pay it.. no? can't blame a debt collector from collecting debt.

In my life time, I don't even think the U.S will come close to repaying our debt. It's so huge everyone basically has a 'debt' on them.

But I agree with you. And moving to Bitcoin doesn't help, since the IRS view it as property. Argentina sort of has it bad, also, due to the corruption and such. And if a country want's their money, I'm a hundred percent sure they're going to go through Hell's Bounds and back.

beetcoin

sr. member

Activity: 434

Merit: 250

wait, why is it extortion on debt? if you owe the money, then you have to pay it.. no? can't blame a debt collector from collecting debt.

candydaze59

member

Activity: 62

Merit: 10

Am i the only one who sees the "Cyprus 2011" story here ? Grin

abercrombie

legendary

Activity: 1159

Merit: 1001

U.S. wants 1.5 billion cash, Argentina says they can't but are willing to settle.

If I were in Argentina, I'd be moving my savings to Bitcoin ASAP.

Argentina: Won't submit to 'extortion' on debt

http://www.sfgate.com/news/politics/article/High-court-rejects-Argentina-s-appeal-over-debt-5555358.php#photo-6463213

Topic: Argentina Debt Crisis: U.S. Demands 1.5 billion cash (Bitcoin to Rescue?) - page 6. (Read 8906 times)