Caputo’s secret talk on Wall Street, a discussion at La Rosada and Carina’s travels.

The meeting was friendly, but intense. Toto Kabuto was relaxed, and at times uncomfortable. Once he started, he betrayed him: “I’m telling you we’ll be making announcements in 30 days.” It happened a week ago in autumn Manhattan, on a very high floor of the Park Avenue tower of the powerful bank JPMorgan. Investors listened, eager to hear the news. But each of his pressing questions seemed like a sharp dagger. They kept repeating: “Will the dollar float? Will Miley really seek consensus? How will they collect reserves?” he asked.

Diego Pereira was next to Toto. JPMorgan’s chief economist coordinated the meeting and leaked the insightful questioning. The Uruguayan asked several questions that worried Caputo, so Toto finally exploded and rebuked the “wolves” of Wall Street. “There is a lot of interest in Miley in the world,” the minister first stated. Then he said: “We receive many inquiries about investing. But I feel that you, the market, are not giving us real credit for the transformation we are making.” He continued: “You are not acting on this basis to help reduce the country’s risks further and make things easier for us.”

There was silence. Charges were made at the hearing. Many wrote down the text to forward to Ceos at headquarters. Afterwards, Caputo predicted: “That’s why we decided that we would buy back our debt, because Argentina’s debt is still cheap.” It was a response to several doubts on the part of the “wolves” of Wall Street. And some anger because they come back – as they always do – To overcome the economic team, despite the strong harmony that exists with Manhattan.

A few months ago, they questioned Miley’s political strength. Now – after winning the election – bankers are concerned about the amount of political support conservatives have, they want the dollar to float freely and are demanding monetary policy to accumulate dollars at the Fed. One financier asked directly: “Are you considering recalibrating the scopes?” “The bands will stay the same,” Toto replied.

He explained: “If by recalibration you mean preventing the real exchange rate from falling, it is possible to do something within the ranges.” Another went into politics: “What incentives do Conservatives have to agree to reforms?” Toto counterattack: “Reforms will be surprising.”

Clarion Thus he reconstructed Caputo’s secret meeting with investors. There were many bankers who were sworn to secrecy. Toto left feeling it He will try to buy reserves. Santiago Boselli was also in New York City last week. The secret mission sought to open stalled negotiations with banks for US$20 billion. The announced deal suffers from harassment. International bankers are reluctant to implement this plan and have already formally requested a special guarantee from the US Treasury to deliver such a huge sum to BCRA.

More “mundane” loans are now being explored: only about US$5,000 million. But nothing is closed yet. “Totoboys” asked Scott Besant to intercede to unlock the greed of JPMorgan, Bank of America, Goldman Sachs, Citigroup and Santander.

In Washington, the support is complete. The White House announced the trade agreement with Argentina on Thursday. But in the case of credit, for internal political reasons, they want to allow Argentine officials to advance on their own.

Because it also appeared that there was an internal debate at Casa Rosada about the future development of the bill. Miley encourages the continued decline of banknotes in an attempt to meet her election commitment: cap on inflation. Javo knows that the price index has been rising since May. It reached 2.3% and It seems difficult for him to break the 2% minimum this year. Miley had promised zero inflation by last August. On the other hand, Totopiz does not mind having a “slight and gentle slide” to keep the ticket competitive. A formula aimed at balancing the external front while at the same time being able to buy dollars and strengthen the BCRA.

But so far Miley has rallied his forces. According to ADEBA estimates, the record for buying foreign currencies in October in terms of quantity and number of people could be broken again: more than 2 million people.

This is a political reaction to market pressures. The “wolves” of Wall Street – it became clear in the meeting with Tutu – encourage taking advantage of the good financial climate to achieve exchange rate liberalization. They say this is the best time.

The International Monetary Fund’s auditors – as well as Treasury staff – insist on this decisive action. Yesterday, the IMF once again publicly claimed: “Reserve accumulation must accelerate.” There is hidden talk about exchange rate parity. Yesterday, Martin Rapalini, president of the UIA, was categorical: “We are not demanding concessions. We are demanding to take away our backpack full of stones. We are demanding to level the playing field.”

Argentina will not be able to meet the December target with the IMF. The Totoboys will ask Kristalina Georgieva to waive. This position was somewhat sincere by Domingo Cavallo. At the FIEL meeting he said: “It is impossible to believe that we can be fine without reservations, as we are now.” He then talked about the limitations Caputo faces in intervening without dollars in the market. Cavallo – it was even heard outside – took its toll on Miley and the minister. Both of them avoided disparaging it.

Javo bites his lips, but explodes at Olivus’ unit. He treats them as stupid and ungrateful. He empties himself using a series of insults: “He’s an editor.”

Domestic politics are still hot and the new Diego Santelli has experienced it firsthand. The job reduction – which was only partially corrected – was not a mistake: Kareena marked the political sphere for him on the crucial day of his inauguration.

Menem’s “cousins” were also in the backstage of evil: they made him feel tough and would not leave him alone as long as he aspired to the position of governor. Colo, the clever insect, absorbed the blow. He knows that is his future It is associated with success in negotiating with rulers. Commanders have doubts about Santilli’s firepower. But they accompany him, because they demanded reasonable issues and money. Martin Larriora told him: “For the Argentines, the square meter has not improved anything.”

Santiago Caputo still hasn’t come to terms with Karina’s victory. He muttered angrily in his office, feeling disappointed: There is confusion and disorder in his army of trolls who are accustomed to arrogance and bravado. Bibi informed his people of a specific strategy: resort to communication and maintain the power he had accumulated in the state.

Kabuto has accurate information about the sister Seeks to wrest control of SIDE and ARCA. Moreover, a lot of criticism piled up on the previous association – centered on Juan Basso – for its lack of action against evasion: in two years nothing had been done.

Peaky Blinders feels – for the first time – vulnerable: Politics knows that the supposedly influential White House “counsel”, Barry Bennett, is just an advisor pretending to be important and presented by Leonardo Scatoris.

This move worries the Red Circle, as they want reforms. So far the proposals – Work and Taxes – have only titles. But internal conflict may derail the pending privatization processes. There is talk of a “reasonable exit”: Diego Shaher, responsible for the privatization and operator of Pepe Caputo, is in the church.