Slate Daily Feed Slate Money | Argentina First?
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Oct 4, 2025 The discussion dives into Trump's surprising $20 billion bailout for Argentina, questioning its motives and effects on American soybean farmers. The impact of the U.S. government shutdown on markets is also examined, revealing who really pays the price. Additionally, the hosts explore a record-breaking $55 billion buyout of Electronic Arts involving Jared Kushner and Saudi Arabia’s Public Investment Fund. They ponder if it matters that a foreign entity controls a major gaming company and reflect on the shifting landscape of media consumption.
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Bailout Driven By Politics Not Economics
- The Argentina bailout by the US is politically driven to support a Trump-aligned leader rather than purely economic necessity.
- That political favoritism risks domestic industries like US soybean farmers by shifting trade flows to China.
Swap Fund Bails Out Countries, With Caveats
- The US has a history of using the Exchange Stabilization Fund to backstop foreign currencies for geopolitical or banking reasons.
- The Argentina move departs from standard IMF-backed, conditional bailouts and lacks meaningful safeguards.
Why Argentina Needed Dollars Now
- Argentina needs dollars to prop up the peso because capital flight is collapsing the currency.
- Scott Bessant's $20 billion offer is structured as a direct cash swap rather than a Fed swap, making it unusual and politically charged.
