Here is more news on the effort by US capitalists to force Argentina to break up its agreements with creditors on its sovereign debt:
See also my article on this in the current PW online.
The importance of Latin American horizontal integration efforts is highlighted by this situation, as an alternate source of credit and trade if the actions of courts in the US and Ghana and who knows where else, on behalf of the vulture fund capitalists, make things really impossible. Singer's purposes are, I think, also political, namely to go after left wing governments and make sure that they fail and are replaced by ultra-right governments such as the military dictatorships of yore.
Remember:
1. There was no democratic process whereby the workers and masses in Argentina contracted these debts. Crooked and undemocratic governments were behind the deals. The creditors did not think that this would blow up in their faces because they never expected a progressive and courageous government to come to power in Argentina. They are "receivers of stolen goods", so to speak. They deserved the losses they entailed.
2. The Argentine government has an implicit obligation to defend the needs of its citizens. In capitalist legal processes, this counts as nothing compared to the "property rights" of a pig like Singer and his ilk. People like that would be just as eager to screw the population of the United States as they would be to do the same to Argentina. In fact, they do it every day (see Greg Palast's article on Singer's rape of Delphi auto parts in the Nov 5 edition of The Nation).
3. Singer and his company were not the original creditors. They had bought the bad debt from the original creditors, whoever they may be, at a super low price, and then refused the 30 cents on the dollar agreement that Argentina made with other creditors.. So Singer is not an aggrieved party here, he just wants to get us much profit as he can from this unfortunate situation.
4. There is no quarrel between Argentina and Ghana. Argentina does not have debts with Ghana. It is the Singer/Romney type people who merely want to USE, Ghanaian and US courts to help their drive for speculative profits.
5. Singer and Romney are very, very close. Singer is one of Romney's biggest campaign contributors.
6. The Obama administration, for all its faults in foreign policy, OPPOSED this court action. Romney in power, beholden to Singer and his ilk for their money contributions and sharing their repulsive world view, would not only NOT OPPOSE such things but would go after ALL the left-wing ruled states in a similar manner, perhaps not excluding the use of "boots on the ground" if things got stirred up enough. Romney is close to the same neo-con crowd who brought us the Iraq War. They have been itching for four years to get back into power and return to the policies of John Bolton, John Negroponte, Ollie North, Otto Reich, Elliot Abrams and Roger Noriega. They are ESPECIALLY interested in the Latin America region, and are connected with the ultra-right in several Latin American countries and with the Cuban exile mafia in the United States. This set of people were behind the coup in Honduras in June 2009. They are completely unapologetic about all the blood that was shed because of their interventions in Central America especially. As Talleyrand said of the French royal family and aristocrats restored to power after the Congress of Vienna, "they have learned nothing and they have forgotten nothing".
7. I am still getting multiple messages from sundry lefties I know SPECIFICALLY CITING FOREIGN POLICY as a reason to sit out the elections. Have they, too, learned anything at all?
