from technocrit@lemmy.dbzer0.com to world@lemmy.world on 27 Sep 2025 02:05
https://lemmy.dbzer0.com/post/54282653
US Treasury Secretary Scott Bessent announced Wednesday a potential $20 billion currency swap arrangement with the government of fascist President Javier Milei in Argentina in a brazen act of election meddling.
Using the funds of the US state to prop up a regime whose support is collapsing ahead of the October 2025 legislative elections and already casting a shadow over the 2027 presidential contest, Bessent was unambiguous in framing the intervention as a direct “endorsement” of Milei.
The Argentine president’s approval rating fell below 40 percent for the first time this month amid an unraveling corruption scandal involving paybacks to his sister through the National Agency for the Disabled.
For Argentina, the swap means the US Treasury would transfer US dollars to Argentina’s central bank, with Argentina supplying pesos in return. This acts as a line of credit or liquidity support—Argentina gets access to the dollars it desperately needs to pay debts and import, and prevent a currency run.
Bessent confirmed that the Trump administration is also preparing to buy up Argentine sovereign bonds and provide massive emergency financing through the US Exchange Stabilization Fund (ESF).
#world
threaded - newest
“America First”
Fascist First
Hey soybean farmers look what your president did while not sending you any aid.
And, as you are probably already aware with that statement, Argentina is also the country whose crops of soybeans are now being purchased by china as a replacement for the US ones they no longer want.
$14B worth. Farmers should plant crypto.
So you could say they reaped what they sowed.
They’re not looking
I am not sure “fascist” is the best characterization of Milei. He seemed to revel more in the idea of being a Libertarian. By which I mean his brand of populism was less about Faith and Country or a return to Mythical Golden Times and more about “government bad, let’s starve government to death.”
But yeah, having to beg Trump for cash is definitely a very bad look. What makes me giddy with happiness is that the article mentions how Milei approval rating has fallen below 40 percent. Which is where - guess whose!? - approval rating is right now.
What politicians say they stand for and what they actually do is often very different. Hitler said he was a socialist. Trump said he wanted to drain the swamp but instead made it larger and deeper. He said he’d cut excess federal spending yet signs a bill that will add $3.3tn to federal deficits
Global fascist network. They’re building it as fast as they can.
We already have a name for it. It was chosen long ago:
They’re the Axis.
The IDU. Headed by Canada’s Stephen Harper, PetroNazi.
The US has a long and rich history of supporting Latin American dictators, same as it ever was.
This sounds vaguely familiar somehow
Why we can’t have
nicethingsIs that where all the money they collect from stopping science funding and firing government workers will go to?
Make
Argentina
Great
Again
It’s funny how the libertarians in Argentina understand the
invisible hand of the marketsUS treasury bailouts.Every American just paid $59 USD each to bail out Millei’s failed experiment in libertarianism.
What a fucking JOKE the US is. Socialism is ok when supporting stupid regimes and corporations, billionaires and banks. But otherwise SoCiALisM = BaD.
That money’s getting embezzled, nothing will get done, Milei will lose the election and will loudly cry about election fraud on spurious evidence.