Skip to comments.Default day looms for cash-strapped Venezuela
Posted on 11/10/2017 6:00:23 AM PST by C19fan
Venezuela slipped inexorably towards a formal debt default Friday, with analysts saying it was all but inevitable for the sinking OPEC state which owes about $150 billion.
"With Venezuela's state-owned oil company having reportedly failed to make a principal payment on a bond that has now matured, credit default swaps are likely to be triggered on Friday," market analysts Capital Economics said.
(Excerpt) Read more at yahoo.com ...
Where are Bill Gates, Michael Moore, Tom Steyer, Barbra Streisand, Sean Penn, Tim McGraw, Whoopi Goldberg, and other wealthy American socialists to help them out?
There is no hope for Venezuela. I just watched a video about the lack of housing and the people were still talking about how it’s the government’s responsibility to provide it for them. Totally brainwashed populus, a major trend in this country too.
Ah, the old “credit default swap”. Years ago The likes of Warren Buffet were worried about a Sword of Damocles of derivatives and such threatening the entire economic system. This was soon after the credit crisis. So whatever happened to those?
Re CDS. Many of the companies that insured these went under or settled claims for pennies on the dollar. Fannie and Freddie forgave many of its claims.
But they can't seem to find any "irregularities" in our elections.
I’m thinking Iran will step up and help Maduro. They’re gaining a toehold in Venezuela.
Socialism Is Legal Plunder - “The Law” - Frederic Bastiat
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