Kleptocrats In Argentina Target 'Mercado Libre' For Looting

The kleptocrats in Argentina have targeted online flea market Mercado Libre for looting (archived). The nominally Argentine firm, which does the bulk of its business in Brazil and Mexico while maintaining most of its offices in Delaware, is being targeted for its sale of Argentine treasury bills in the aftermath of "PASO" primary results triggering markets to punish Argentine derpery. Because Mercado Libre dumped the treasury bills before Macri gave voters what they wanted in a Peronist turn to keep their payment processing arm solvent, Mercado Libre CEO Marcos Galperin is being charged with "fraud against the state" by the Kleptocracy.

Likely feeding the Kleptocratic interest in Mercado Libre is its "American Depository Receipt" trading on the NASDAQ at a price that implies a market cap above 35 billion USD, but the Northern Argentines at the USG Federal Reserve have been dilligently printing USD in a quiet "quantitive easing" since September to keep the market for repurchase agreements from collapsing. The Northern Argentines chose to speed their debasement of the USD by injecting still more USD into the market and further wrecking the possibility of accurate price discovery and valuation in fiat markets.

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