Greece defaults on IMF payment despite last-minute overtures to creditors

Well, it's official Greece has officially defaulted

Greece made last-minute overtures to its international creditors for financial aid on Tuesday, but it was not enough to save the country from becoming the first developed economy to default on a loan with the International Monetary Fund.

reuters link

This will be interesting to see if any deals are struck before the referendum on Sunday. It's almost as some have said, the global banking cartel will eventually have the people begging for them to help. Ironic in a twisted way, will have to wait to see if that referendum happens.

What are your thoughts ATS?

a reply to: Vector99
I think Greece will be our example. There will be more defaults coming from other nations.

a reply to: BELIEVERpriest

I get the feeling the people in charge of things know this also, and is a test run to see population reactions. Unfortunately I think tptb will be satisfied with the results.

Im hearing now that Greece is thinking about joining BRICS. That would quickly divide the world into two mega currency teams: Petrodollar vs BRICS. I'm thinking the Petrodollar will lose.

originally posted by: BELIEVERpriest
a reply to: Vector99
I think Greece will be our example. There will be more defaults coming from other nations.

Closer to home (USA) keep a watch on Puerto Rico.

The Circumstances are quite different and exaserbated by it's legal status (non-status) and history of corruption and expoloitation. Frankly I can't even begin to follow the twists and turns. Obama has declared, "there will be no bailout". Since most of the Island's assests are privately owned I wonder if that will last, but it's a huge 'FU' to the US Citizens of that Island.

Business as Usual in the USA - Profit before People.

a reply to: BELIEVERpriest

That's not likely, there is a reason Greece is in default. BRICS likely would be the one hurt by adding Greece, especially since the BRICS financial status is questionable at best. Currently the EU is paying for them. Greece imports more than they export.

originally posted by: BELIEVERpriest
Im hearing now that Greece is thinking about joining BRICS. That would quickly divide the world into two mega currency teams: Petrodollar vs BRICS. I'm thinking the Petrodollar will lose.

Good for them, though I fail to see (I lack understanding however) how it will help in the long term. Banking needs to be a Public Utility - as long as 'unproductive' profit is the raison d'etre for banking the cycles of abuse and oppression will consider whoever is in 'charge' of the 'system'.

a reply to: FyreByrd

BRICS and the AIIB are NOT public ventures, they are private just like the FED and the IMF. I really don't understand the joy and celebration for them when they are state sponsored by very oppressive nations.

a reply to: FyreByrd

IMO, joining BRICS would have no long term benefits. It would be another way of kicking the can down the road. My guess is that Greece is hoping for a bailout from BRICS, and expects protection from the IMF, but such a move would be like changing from Coke to Pepsi.

a reply to: Vector99

I agree, AIIB and BRICS are nothing more than another mafia.

I see what you mean, if I were BRICS, I wouldn't want Greece's dead weight either, but this isn't about solvency. This is about control. The banksters want massive default because it allows them to treat us like slaves. By absorbing Greece, BRICS would steal the IMF's slave.

a reply to: BELIEVERpriest

Only problem with that is the IMF isn't hastily jumped in to bail them out....again. Greece is a mess, BRICS would be worse off by stealing a non-productive slave economy. They would never agree to BRICS terms, and even if the government did, the people would revolt in a nasty fashion losing the "western lifestyle" conditions in my opinion.

a reply to: Vector99

That's probably true. It really sucks to be Greece right now. They should do what Iceland did.

originally posted by: Vector99
a reply to: FyreByrd

BRICS and the AIIB are NOT public ventures, they are private just like the FED and the IMF. I really don't understand the joy and celebration for them when they are state sponsored by very oppressive nations.

As you say. BRICS is just another concentration of power and wealth - just a new bunch of thugs.

It's time for something new if we are going to survive.

originally posted by: BELIEVERpriest
a reply to: Vector99
I think Greece will be our example. There will be more defaults coming from other nations.

Domino effect.
The bigger economies in Europe can't survive many more hits.

Well, somebody had to be first!

a reply to: EA006

59 other economies to go...it's no surprise. China is the one to watch. Interesting the timing of the US rubbing trade shoulders with other countries with zeal. There is a reason for this. Central banks and private vs public reserves are a part of the equation.

Greece is a pawn.