In the first days of July 2017, 40 years had passed since June 1977- entry into force of the Financial Reform Law 21,526-, of the civic-military dictatorship. The super “uncle’s story” in geometric progression. They released interest rates and guaranteed 100% of deposits. The “fixed terms” were endorsable and the minimum term was 7 days. With 700 thousand dollars, the license was obtained to be able to capture deposits from individuals. One button is enough to show, but there are two: there were “financial institutions” that made fixed-term deposits with the telephone directory and endorsed them to make payments, when they returned there was exponentially more deposits because they applied high rates. They did it geometrically or downloaded into other entities, and inflated a Ponzi Scheme, with a state guarantee. But the number 1 Bank in the system paid the highest rate, it would fail in 1980 and the State would pay 3,000 million dollars in deposits. The owner of the Bank is a fugitive forever.
Since then, the historical theme always returns, with shades to destroy the national economy, over and over again. It is like a numerous permanent theft from the wallet of almost all Argentines at the hands of the new and old snatchers, the financial bike.
It was also a vocation: to give easy financial gains to the Argentine companies that used to produce, to the rich and foreigners. That never changed, not even tones. It is the conchabo formula of the Argentine technocracy, self-proclaimed “professional macroeconomists”.
The opposition political militancy seemed asleep. Let’s change -like Martínez de Hoz- took advantage of this opportunity like never before. Not even in the nineties, in magnitude, volume and speed.
The government did not need new ways to plunder the country. The bicycle allowed them to capitalize on the experiences of the past, full of economic failures and inordinate political events. In the BCRA-introspective-president mode, Sturzenegger looked too reflective for the times of monetary policy on the eve of elections.
Dangerous official who assumed prosecution as President Macri, gray matter of López Murphy and Cavallo in the 2001 crisissuddenly resigned and emigrated to the United States before the final outbreak, accused by the Megacanje. It is tempting to guess why was the brain chosen by Macri.
For some reason he did not stay in the United States-they would have assured him of the dismissal in September 2016, say the gossip-. He should have stayed there if he was a genius. They would not have lost a very bright head that he was prepared for Duran Barba to tell him what he should say.
Although it must have been beautiful to live on the university campus, it would have been impossible to obtain the businesses and the importance that he achieved in these payments. Graduates who never worked until they obtained their diploma can earn a living in the US, but doing less important tasks than the president of the BCRA, not even thinking about the businesses they can do.
We remembered what he cynically thought when he returned to Argentina after the 2001 default. As if he were an angelic figure who lacked information about everything that had happened. Sturzenegger saw a government surrounded by bureaucracy, a closed country (nobody gave us loans). Of course, if Cavallo and the entire De la Rúa team had defaulted on the debt.
Sturzenegger did not want to renegotiate the debt with debt removal-he considered it a scam, nonsense. Remember the Cavallo boys They made the 100% mega-swap, without a discount, some time before the restructuring, accepting 15% interest in dollars and outrageous commissions from a friend of Cavallo’s.
Away from these pampas for a while due to the default that he himself threw as Cavallo’s sidekick; He now found himself in the easy chair dreamed of by Melconian, sadly frustrated.
In 2001 the economy that he directed with López Murphy and Cavallo was destroyed, it had been indebted to Roque Fernández by the second “professional hose man”, Miguel Kiguel. Their pride did not allow them to put the opposite face of the first glory of Cavallo and they disappeared, for a while. Wounded and with hardships, they were the opposite face of the glory that they boasted with their pride. But “those little birds that always disorganize the country” were once again in the government and/or its periphery, earning a lot of money.
THERE HAS ALWAYS BEEN MAGIC BANDAGES
“… Woe to those who make objects of sorcery and spells to trap people! Do you think you can take the lives of my people and save your own skin? You have desecrated me before my people for a handful of barley and a few crumbs of bread. Because of the lies they tell, and that my people believe, those who should not die are killed and those who do not deserve to live are left alive…”. (The Bible, NIV, Ezekiel 13:18 onwards)
With Macri and Cambiemos, the chances that magical bandages capable of captivating public opinion would return were up in the air. Duran Beard trained sturzenegger (remember the video where Sturzenegger says he was told to lie) so that he goes forward with a low-life smile, speaking nonsense and delusions to those afflicted by Cristina Fernández de Kirchner, a perverse woman who was interested in the ordinary lives of beings without nobility, with a team of professionals without titles of the best universities in the world, with which Macri -who does not have them- tried to blend in (The best team of the last 50 years).
But Macri, Prat Gay -who got off with the bus running- and Sturzenegger, our perpetual anti-heroes are predictableSo when the vultures were paid off and borrowed dollars began pouring in as if to maintain a “lower withholding and higher extravagant spending” orgy, we knew the reverse would put us on the ledge once again.
Once again, those indolent and sloppy former defendants, authors of corralitos and mega-exchanges, deceived the Argentines. They were pushing the country down the ravine again. We were on the brink if we didn’t act quickly, we said; but who cared about Registered Diary, or who was interested in our alerts.
In less than a year, the usual ones would pay the price. Inflation would rise again and the dollar would begin to be a precious asset that would be delivered cheaply and in thousands to the friends of financial power, so that they would leave with what was promised: “Investment in a predictable country.”
Graduate Professor UBA and Masters in private universities. Master in International Economic Policy, Doctor in Political Science, author of 6 books. @PabloTigani
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.