Battle for the Malklands/Las Falvinas
So, Argentina is kciking up a bigger stink than usual about a group of sharply windswept islands (although with potentially huge oil wealth), as if Patagonia had been lost. The president, Cristina Kirchner, who directly succeded her husband (going one better than Hilary Clinton) is very unpopular and lays into distant Britain, in the way the British often talk about the European Union.
The Falklands Islands have been British since 1833, whereas before that they were only Argentinian for 13 years. I mean, why doesn't Spain claim them for its fifty years of occupation prior to 1820? Well, if the Argentinians want reunification with their beloved Malvinas, they can have it, with the British conquering them and incorporating the mainland into Greater Falklandia.
If the Venezuelans threaten anything more than hot air we'll bushwhack their arses like we did in 1904 when we thumbed our noses at the Monroe Doctrine and expanded British Guinana (now Guyana) at their expense. To guarantee regional acquiesence we'll assign parcels of Argentinian land to Chile, Bolivia, Paraguay, Uruguay and Brazil (and if they don't want it so much the better for us).
Where will the troops come from to achieve our glorious and inevitable victory where the Queen of England will show Argentina and Hugo Chavez that the time of empire is not over? We'll just take our battle-hardened boys out of Afghanistan for a few months. That's all it would take. The only unfortunate part, like the situation of the 13 American colonies after our victory in the Seven Years War, is that without a large threatening neighbour that needs to be countered by the mother nation, the Falklands will declare their independence. We'll make sure this time the French don't interfere. Fantastical? No more than Argentina's claims of sovereignty over the Falkland Islands which overwhelmingly wants to remain under British suzerainty and has been (bar a small interlude in 1982) that way for 177 years. In the words of Chavez, the time of empire is over, so the Argentinians should stop trying to forge one.
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