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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: abuelita who wrote (3989)	8/6/2002 10:16:16 AM
From: Jim Willie CB	Read Replies (1) \| Respond to of 89467

this is the problem with Brazil, Argentina, Uruguay Paul O'Neill, the U.S. Treasury Secretary, who arrived in Brazil Sunday, will likely have to spend most of his time trying to undo the damage he caused last week when he accused the Brazilians of funnelling multilateral funding into Swiss bank accounts. I just talked over the weekend with a woman who moved from Buenos Aires, Argentina to Chicago in March of this year she said the politicians and their wealthy friends take most of the IMF and US money lent, and steal it they transport the money out of the country to Europe then they close the banks after a default she said the provinces has their own debts to the federales the companies have debts to the provinces and the chain reaction default on debts is out of control sadly, some of the debts are fictitious and fraudulent loans to friends and family of politicians she said the IMF economic restrictions have been a disaster the IMF does not know what they are doing but since they have the money to lend, they call the shots Brazil will default before Christmas, that is my take their corruption and our tighter lending policies will gaurantee NO NEW MONEY meanwhile, CHAOS in the streets in all three countries it will be another massive shock to JPMorganChase these guys are so very much TOAST / jim