The international monetary fund (perhaps the highest company in the world) knows about Argentina's failing system, but avoids all discussion about what they will do about it.
From imf.org:
The IMF, also known as the Fund, was conceived at a UN conference in Bretton Woods, New Hampshire, United States, in July 1944. The 44 countries at that conference sought to build a framework for economic cooperation to avoid a repetition of the competitive devaluations that had contributed to the Great Depression of the 1930s.
The IMF's responsibilities: The IMF's primary purpose is to ensure the stability of the international monetary system—the system of exchange rates and international payments that enables countries (and their citizens) to transact with each other. The Fund's mandate was updated in 2012 to include all macroeconomic and financial sector issues that bear on global stability.
Here's the thing: The IMF is a business. I understand that some businesses want to keep what they do concealed so that it comes as a surprise to the world, but when a business in the highest parts of the world holds back their intents about handling a failing country, it raises my hairs.
Argentina's economic system is failing because they cannot stimulate their economy enough to pay back their loans to the IMF. As a result their assets are being taken and their currency is continuously losing strength. Banks in Argentina have rose their interest rates, and the shock has dropped confidence in their monetary policy.
Will we see them turn into Venezuela and eventually land on a resource-backed cryptocurrency? I imagine so. They have abundant resources such as industrial metals and fossil fuels. The goal of the IMF is likely to have the world under a single economic system and as countries fail from the loans they fail to pay back (under the paper currency paradigm), their assets are forfeited to the powers that be.
