00:00Explain to our viewers what is going on with Argentina, because the U.S. Treasury today directly purchased Argentine pesos and finalized this $20 billion currency swap framework with Argentina's central bank.
00:14So the intent, I guess, is to provide assistance from the Latin American country's economic turmoil.
00:20It's clear how Argentina benefits from this deal. What do we get out of it?
00:25We get a lot out of it. Argentina is a beacon in Latin America. President Malay has done the right thing.
00:33He is trying to break a hundred years of a bad cycle in Argentina. He is also a great ally for the U.S.
00:43He'll be coming to the Oval Office next Tuesday, and he is committed to getting China out of Argentina.
00:51They're all over the place in Latin America. And when people say to me, how is this not America first? I'll tell you why it's not.
00:58Do you want to be shooting at more gunboats like in Venezuela? We do not want a failed state.
01:04So this isn't a bailout?
01:05Sorry, it's not a bailout at all. There's no money being transferred. The ESF has never lost money.
01:12It's not going to lose money here. I've been doing, I was in the investment business, mostly currencies, for 40 years.
01:19You're supposed to buy low, sell high, and the Argentine peso is undervalued.
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