Economy

You may recall the vulture fund case in 2013-14.

In that case, a Caymans based money laundry controlled by GOP megadonor Paul Singer bought old, defaulted Argentine bonds on the black market (not from Argentina) for $48 million - and then sued for 16 times more.

Once Trump's pal Macri was elected in 2015, Singer quickly stocked up on another $200 million - and then cashed in for over $2 billion (an 1,160% return).

There's another, smaller case before the same judge (GHW Bush appointee Preska) now - and one in UK courts brought by (you guessed it) three Caymans laundries and one domiciled in Delaware.

None look hopeful - but unlike in 2013/14, Argentina has no global credit markets access they can hold hostage (Macri did that in 2018 already).

It's court-approved fraud, plain and simple - and frankly, those who applaud it deserve the same thing themselves (and it does happen - just ask farmers, phishing victims, or Trump contractors).

Thanks as always for your time and insights, Rick. All the Best.