Treasury Secretary Bessent announced today that the Argentina bailout is going to be — drum roll — $40 billion dollars now! Yes, the bailout doubled! Bessent says the other $20 billion will be raised by “banks and sovereign ifunds.” Meanwhile, there was another credit swap by the U.S. Treasury for more pesos from Argentina.
I wonder if American soybean farmers realize that Trump doesn’t love them anymore?
Here is a video from ABC News about this announcement.
Supposedly, American soybean farmers are getting a little bit more than frustrated with Trump. The one in the video explains the situation. He does grasp what is going on, but he won’t throw insults at Trump. And the ABC anchor does take a dig at farmers by pointing out that the Argentina bailout is well under way, while noting nothing has been planned yet to bailout American soybean farmers.
Given this is ABC, the anchor saying that was a gutsy move.
Here is what the New Republic is reporting on this situation:
Treasury Secretary Scott Bessent told reporters at the Treasury building Wednesday that the United States is “working on a $20 billion facility that would be adjacent” to the $20 billion credit swap line Trump already approved, totaling $40 billion in assistance for the economically fragile South American country.
“Many banks are interested in it, and many sovereign funds,” Bessent said. “It is a private-sector solution to Argentina’s upcoming debt payments.”
The aid is intended to salvage Argentina’s collapsing economy ahead of the country’s October 26 midterm elections. That vote will determine if Argentine President Javier Milei, one of Trump’s international allies, will maintain the ability to pursue his dramatic cost-cutting agenda.
But there’s another notable beneficiary of the Trump admin’s Argentina bailout package: major hedge funds led by Bessent’s friends. Several major investment funds, including BlackRock, Fidelity, and Pimco, stand to significantly gain from the aid transfer, as do several independent investors with ties to Bessent, The New York Times reported earlier this month.
Yes, there are more hedge funds and BILLIONAIRES that need rescuing from their bad bets on Argentina’s paradise of an economy. This is the main driver behind all this shit. Bessent knows all these sharks, and he cannot allow them to lose any money.
Next, does anyone believe that the other $20 billion will come from banks and “sovereign funds”? I can see banks doing at Trump’s bidding because in the end they would get a government bailout if their investments went sour. Socialism for me and not for thee!
But who the hell are these sovereign funds? From what I can understand, it’s state owned investment funds. Therefore, who is Trump going to lean on to make another bad investment into Argentina? Qatar maybe?
No, this sounds like a scam or front for the U.S. taxpayers. AGAIN.
