Cancel Argentina’s foreign debt
Guerry Hoddersen
December 19, 2014
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Graffiti in Buenos Aires depicts Judge Thomas Griesa and hedge fund vultures behind bars. Credit Juan Mabromata/Agence France-Presse — Getty Images

Not a penny for the speculators!

A group of hedge fund operators are using U.S. courts to try and bleed the Argentine people dry—again.

Thomas Griesa, a federal judge in New York City, has ordered Argentina to pay $85 million on December 31, 2014 to a group of investors who bought millions worth of Argentina’s loans in the early 2000’s, for pennies on the dollar, and now want to be repaid at the full value of the loans, plus interest and penalties. They’re despicable speculators who are using U.S. courts to turn a modest investment into a windfall.

Rightly called “vulture funds,” they are circling the skies above the Argentine people, ready to move in and take what they neither earned nor need. They are already among the wealthiest people on earth and they know how to throw their weight around.

So far this bunch of high flying thieves has attempted to seize various assets-- Argentina’s presidential plane, for instance--in order to recoup a portion of what they claim they are owed.

In 2012, NML Capital won a temporary injunction in a court in Ghana which resulted in a sailing boat owned by the Argentine navy being detained along with the 220 people aboard. The boat is used by the country’s navy to train personnel. NML Capital wanted $20 million or the ship.

NML Capital is a subsidiary of Elliott Capital, owned by billionaire Paul Singer. Singer is a ruthless hedge fund operator and Judge Griesa has proven to be his compliant tool. Singer and the other capitalist pirates are all counting on Argentina’s president Cristina Fernandez de Kirchner to pay up before their legal onslaught.

The Freedom Socialist Party calls on President Kirchner to refuse to pay a single nickel to the extortionists of Wall Street. We simultaneously condemn Judge Griesa for placing Argentina in the position of being unable to use it’s national treasury to meet the needs of the people unless it agrees to the outrageous payment of debts bought up after Argentina’s debt crisis of 2001.

The FSP stands with Tendencia Piquetera Revolucionaria (TPR) and all other organizations that are fighting for the poor and working people of Argentina during this crisis.

We understand that the vultures of Wall Street will do absolutely anything to feather their nests, including ruin the lives of millions and millions of working class families here and around the world.

We, therefore, dedicate ourselves to the struggle for international socialism and fight for the cancelation all debts secured by the blood, sweat and tears of our sisters and brothers everywhere.

¡Que viva solildaridad internacional! ¡Que viva socialismo!