Skip to comments.So, What's Next Step Towards The Eurocalypse?
Posted on 03/09/2012 1:14:54 PM PST by Kartographer
Okay, as I have been warning since the first quarter of 2010, Greece has defaulted. What I mean by default is that Greece did not honor the payment terms of its debtor agreements. I really don't care what this or that association decides to call it, if you bought Greek bonds you ain't getting the money that Greece promised when they promised they will give it to you. Just to add something official sounding to it, Fitch has declared it so, Fitch Downgrades Greece From C To Restricted Default. Of course, if you are on BoomBustBlog of following me, your probably smarter than to take these guys words for anything even remotely resembling predictive since they declared default status about three hours before Greece actually made it official they would default - plenty of time for interested parties to do something about it, no? Reference Rating Agencies vs Reggie Middleton, Part 3 and What Is More Valuable, The Opinion Of A Major Rating Agency Or The Opinion Of A Blog? Go Ahead, I DARE You To Answer!
(Excerpt) Read more at zerohedge.com ...
And just who, with more sense than a rock or Democrat, would ever by sovereign bonds in the future? Think the the market will collapse?
It pretty much just did. It'll just take a while for the debris to hit the ground.
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