The peso collapses in Argentina

ARGENTINA FINANCIAL COLLAPSE

Hal Turner,
12 August, 2019


Argentina is experiencing sudden, dramatic financial collapse, right now (10:56 AM EDT 12 August 2019).   The Argentine Peso is down by more than thirty percent (-30%) against the US Dollar and Argentine stock prices have PLUMMETED ~50% today alone!

After the triumph of Leftist/Communistic Alberto Fernández (Front of All) in the primary elections, the dollar today skyrocketed more than 30% and reached record highs against the Argentine Peso.  High volatility and price variations are causing some banks to offer the currency above $ 61 at 11.10.

STOCKS CRUSHED

Meanwhile, Argentine corporate stocks are being CRUSHED in markets:

BBVA Banco Frances S.A. ADR 5.00 -7.05 -58.51% 2,181,967 10.91M
SUPV Grupo Supervielle S.A. ADR 3.28 -4.38 -57.18% 5,348,091 17.54M
EDN Empresa Distribuidora y Comercializadora Norte S.A. Cl B ADR 8.02 -10.68 -57.11% 163,905 1.31M
LOMA Loma Negra Compania Industrial Argentina S.A. ADR 5.62 -7.26 -56.37% 2,431,441 13.66M
CEPU Central Puerto S.A. ADR 3.915 -5.045 -56.31% 1,181,244 4.62M
PAM Pampa Energia S.A. ADR 16.59 -18.53 -52.76% 1,968,323 32.65M
BMA Banco Macro S.A. ADR 37.59 -38.89 -50.85% 2,705,708 101.71M
TGS Transportadora de Gas del Sur S.A. ADR 8.65 -7.13 -45.18% 1,008,026 8.72M
IRS IRSA-Inversiones y Representaciones S.A. GDR 6.01 -4.15 -40.85% 161,147 968,493
TEO Telecom Argentina S.A. ADR 10.3099 -5.3901 -34.33% 466,804 4.81M
VIST Vista Oil & Gas S.A.B. de C.V. ADR 5.87 -2.83 -32.53% 92,914 545,405

The red-colored stock values reflect the drop in price FROM FRIDAY; one business day! ! ! ! 

This is real-time economic collapse taking place in Argentina.

As this article goes published, the contagion is spreading.  The Mexican Peso is now also dropping rapidly against the US Dollar.