So what's next?
We send the armada down?
Make up some BS?.......Again........
So what's next?
We send the armada down?
Make up some BS?.......Again........
BI: Markets @themoneygame 1h
ARGENTINA DEFAULTS pic.twitter.com/L2q2OjdhkX http://read.bi/1k7WKjm
"Notwithstanding any claim to the contrary, Default is not a mere "technical" condition, but rather a real and painful event that will hurt real people: these include all ordinary Argentine citizens, the exchange bondholders (who will not receive their interest ) and the holdouts ( who will not receive payment of the judgments they obtained in Court)," said Daniel Pollack the Court's appointed mediator.
Must suck being a country that cant just print money at will to pay your bills like the US can. Well, maybe not at will. Congress has to approve it first and throw in some pork to their relatives so they can fund their net reelection campaign.
I can’t help but wonder if they even care at this point. BTW what's under CCC- for ratings?
http://www.bloomberg.com/news/2014-0...-continue.html
Argentina Declared in Default by S&P as Talks Fail With Elliott
Remember the Prepper's Motto: "Panic early and avoid the rush!"
Everything I post is Fiction and shouldn't be taken seriously by anyone.
88 = Heil Hitler
BI: Markets @themoneygame 2h
Argentina braces for market reaction to second default in 12 years http://read.bi/1oPhI6I
Maybe it would be a good idea for Argentinians to reject the shackles of debt and instead save up and pay cash for everything. Oh wait, the
bankers wouldn't like that either.
Pastor Guest
Free E- Book!
"Steps Toward the Mark of the Beast"
The Christian's Guide to the How and Why of
the Coming Cashless/RFID Economic System
This is warming up to be a great opportunity for the new non aligned BRICS based economic organizations to rescue Argentina from the clutches of the old western economic guard.
Argentina defaults for second time in 13 years
7 Hours Ago
Argentina has defaulted on its debt within hours after talks with holdout creditors broke down on Wednesday.
Before the midnight deadline passed, Economy Minister Axel Kicillof stuck firmly to the government line, repeatedly denigrating the holdouts as "vultures" after two days of intense negotiations.
Argentine banks scrambled to put together a proposal to buy out the non-performing debt held by hedge funds and avert a default. But that deal collapsed, a senior banking executive and a second source from the financial market said.
More here.
IF you are willing & obedient , you shall eat the good of the land: But if you refuse & rebel, You shall be devoured with the sword: for the mouth of the LORD hath spoken it. Isaiah 1:19, 20
DealBook @dealbook 4h
Argentina Default Is Ruled a Credit Event for Swaps http://nyti.ms/1rS7dyD
Pedro da Costa @pdacosta 2h
ISDA Rules Argentina Default Is 'Credit Event' http://online.wsj.com/articles/argentine-bond-prices-fall-ahead-of-court-hearing-1406903633 …
Nouriel Roubini @Nouriel 24h
Argentina accuses US of judicial malpractice for triggering needless default - Telegraph http://www.telegraph.co.uk/finance/financialcrisis/11004486/Argentina-accuses-US-of-judicial-malpractice-for-triggering-needless-default.html …
zerohedge @zerohedge 1h
ARGENTINA REPORTS CAPITAL OUTFLOW OF $1.67B THROUGH 2Q: BBG
Now that the country is officially in default, bondholders can file for "acceleration" clauses. Basically, they can call in their loans all at once.
Washington Legal Foundation chief counsel Rich Samp said on a conference call Friday that, usually, once a few investors file for acceleration clauses, others start piling in. ...
"Economic activity will suffer and it will suffer in two different ways," said Loser. "Today people will stop buying... the banks that were so interested in helping the government, they may have problems renewing their lines of credit. Business in Argentina will have much less credit than before at higher interest rates. This will effect the productive chain... Investment which was poor to begin with will decline even further, and the potential for growth of Argentina... over the medium term will suffer enormously."