Argentina: "We Will Not Cede Sovereignty to the Vulture Funds"
October 16, 2012 • 4:40AM

So stated Argentina's Foreign Ministry in an Oct. 12 statement, responding to the offensive by the City of London's predatory vulture funds which seized the naval frigate Libertad on Oct. 2 as it docked in a port in Ghana, a country notorious for its subservience to the British Empire.

The frigate remains embargoed in Ghana at the behest of the NML, Ltd. vulture fund, a subsidiary of the notorious Elliott Associates, seeking the full face-value payment on defaulted Argentine bonds on which it speculated during Argentina's 2001-02 financial crisis. NML's owner, billionaire speculator Paul Singer, is the primary financier of the U.S.-based vulture fund lobby group, American Task Force Argentina (ATFA).

For two centuries, the Foreign Ministry states, "Argentine history has been characterized by permanent tension between the full exercise of our sovereignty, and the objective of domination by global powers [using] political as well as economic and military means." The illegal embargo of Libertad "is another chapter in that history."

Along the same lines, On Oct. 12, Argentine Finance Minister Hernan Lorenzino submitted an official statement to the IMF's Financial and Monetary Committee in Tokyo, denouncing the fact that Argentina faces "extraordinary and often ridiculous demands" by vulture funds, which seek "privileged treatment" within the international financial community through their bogus legal cases. He pointed out that the same financial vultures who've preyed on Argentina have also victimized Greece.

The seizure of the Libertad is an example of "aberrant financial speculation," by a group of usurious financial predators, the Foreign Ministry statement charges. In the past, international courts in Germany, France and even New York state have ruled that vulture funds' attempts to seize Argentine military assets were illegal, because such assets are inextricably linked to the nation's sovereignty. "For the government of Cristina Fernandez de Kirchner," it concludes, this "is not an accounting matter but one of sovereignty. We shall exhaust all legal means in the courts of Ghana and internationally in defense of our sovereignty, against the vulture funds or anyone else who seeks to impose a global system by which nations are subjugated by speculative capital."