The financier, lawyer, and persistent tweeter Carlos Maslatón went all out for the second consecutive day against Luis Caputo and, by extension, Javier Milei. This time, the focus was on the central bank’s gold reserves that the government sent to England.
"The gold from the BCRA’s reserves, no more beating around the bush, was sent abroad to be sold for dollars that will be used to pay off debt," he began in his post.
Carlos Maslatón lashed out at Luis "Toto" Caputo: "Those looking for corruption, stop watching the local political fixer."
This doesn’t sit well with the authoritarians
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"Caputo and Milei will try to spin it as a repurchase agreement, like a financial Repo where you sell and immediately repurchase at a loss," he elaborated. And he concluded: "Given the current government’s trajectory, what’s sold will be gone and lost forever."
The resident of the Kavanagh building continued on the topic. An hour later, before starting his workout, he posted a graph showing the value of gold over the past 50 years—a post more targeted at the investor community.
Maslatón lashed out at Caputo: "Those looking for corruption, stop watching the local political fixer."
On Friday, Maslatón harshly criticized Caputo. He did so after the Economy Minister claimed that people would "have to sell dollars to pay taxes and the peso will become a strong currency!"—a statement contradicting President Javier Milei’s view of the Argentine peso as "excrement". Caputo also acknowledged that he was "concerned" and "occupied" by the gap between the official dollar rate.
Maslatón warned that the official proposal to eliminate puts is "a default by the Central Bank"
"Caputo is heavily invested in pesos, which is why he initially pushed for incentivizing Leliqs and quasi-fiscal policies that accrue dollars thanks to the artificial exchange rate he imposed," Maslatón stated. He remarked that the minister "expected two years of gains with this Martínez de Hoz scheme," referring to the economic strategies of the last dictatorship’s chief minister.
"It’s the only thing he knows how to do. He came to steal again," he pointed out, detailing that "when the parallel exchange rate skyrocketed after six months, he had to adopt a series of measures using public funds to ‘contain’ the dollar."
Caputo and the gold: a "very positive" measure
By accepting the gold shipment on Friday, Caputo defined the measure as "very positive."
"Today we have gold, which is like having a property or a building; it can’t be used for anything. Whereas, if that gold is abroad, it can yield a return. The country needs to maximize returns on its assets. Leaving it idle in the BCRA is negative," he explained in an interview with LN+.
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