(Fwd) Labaké envía artículo semanal.

Nestor Miguel Gorojovsky gorojovsky at SPAMinea.com.ar
Sat May 20 09:41:02 MDT 2000

Dear comrades,

An interesting piece of information that Stratfor would have paid to
obtain. I am so silly that I am delivering it for free:

Not everyone out there knows that President De la Rúa has installed
as head of the Argentinian Intelligence his personal friend Mr. de
Santibáñez. This guy, who has the dubious honor of being a banker in
Argentina (where this profession is still less honorable than
elsewhere), is said to be giving the finishing strokes to the
ultimate House of Horrors for Argentinians.

The government faces a delicate situation. They are unable to bring
the "country risk" index down, György Sörös is already taking his
money out from Argentina, violent social protests looming, mushroom
and take place... Their only known answer to data has been a doubtful
plan from the current Minister of Economy José Luis Machinea that
tries to further cut the already undersized public expenditure in u$s
600 million (a plan which many, me included, know that can not be
executed without firing people or slashing wages)

The government fears the dangers that, publicly, denies: this is
going to burst. Whether it will burst from below and within
Argentina, or from above and outside Argentina is still to be seen.
But the blast seems impossible to avoid. It is not at all
unreasonable when, confronting such a danger, the official word is
"No danger at sight", BUT ONLY IF at the same time reasonable
measures are prepared and, even, taken in silence.

Not what is happening here now.  On the one side, they try to smother
the fires of recession with the gasoline of expenditure reduction, on
the other, they try to cover up sky with a sieve (a local saying
"tapar el cielo con un harnero"): instructions are delivered to radio
and TV stations in order to have certain critical journalists kicked
away (democracy!), as has just happened with Miguel de Renzis who
works at Radio El Mundo. The Ministry of Interior has issued an order
to the police in the sense that crimes where arms are used will not
be publicized, in order to hide away the rising tide of violence
spurred by the economic model.

Nothing of these would be excessively alarming in Argentina, where
worse things have happened (during the last days of the second
Presidency of Yrigoyen, the old caudillo was "informed" through
newspapers specially prepared for him).

But there is something new, a very serious thing indeed, which shows
where are the economic gurus of neoliberalism (headed by such guys as
the banker de Santíbáñez and current Defense Minister López Murphy)
going to take us in short time.

There are the strongest signals that, with approval of president De
la Rúa and under the auspices of Dr. López Murphy, in the premises of
the Argentinian Intelligence SIDE, its current head the banker
Fernando de Santibáñez is leading a team of economists provided by
the private consulting agency that owns Miguel Angel Broda, another
neoliberal economist. This team is preparing a dark, suicidal plan, a
bungee jump --without a rope!

The SIDE gang seems to work on the following ideas:

a) convertible pesos with a 1 peso = 1 dollar parity, is already

b) this, in the context of a red in the budget that cannot be curbed,
and of a ferocious and unstoppable foreign debt (the origin of which,
in fact, lies in the neoliberal model and in convertibility itself),
make a speculative attack against Argentine currency highly probable
and, at the same time, prepare a social explosion in the short term
(at last they realized this, after at least a  year or a year and a
half of warnings from many sides!)

c) Social explosions can be stiffled by a good deal of "planes
Trabajar" (of course they will solve nothing, since they are a
ridiculous kind of unemployment insurance which at most allows people
to live on less than three dollars a day, and usually less than one,
but what I am saying here is WHAT THE SECRET TEAM THINKS!)

d) What to do with the speculative attack? Once again, the answer is
the answer by Menem: let us fully dollarize our economy. Thus, nobody
will be able to speculate against a NON EXISTENT peso. True, our
circle of dependency will also be finally closed at last!

e) What is the only problem the "SIDE plot" sees in the horizon? That
the currency board system, in fact, has never been transparent.
Particularly now, when there exists, yes, a dollar for each peso in
cash (that is the reserves cover M1), but they do not cover M2 (that
is, cash plus accounts in banks).

f) And the answer of our wise patriots under the orders of de
Santibáñez? They project to devaluate peso in 35% at the same time
they dollarize!

This mail has been drafted on information provided by Dr. Juan
Gabriel Labaké. If what is stated here becomes true, then hard times
are ahead, very hard times in fact.

Néstor Miguel Gorojovsky
gorojovsky at inea.com.ar

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