It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Thank you.
Some features of ATS will be disabled while you continue to use an ad-blocker.
Because, finally, as the FT reports, the deal is nowhere in sight: "Several hedge fund managers that hold Greek debt have said they have not been involved in the talks and will not be agreeing with the “private sector involvement” (PSI) deal – which centres on a 50 per cent loss on bondholders’ capital and a reduction in the interest they receive...
Even members of the committee concede the process is unlikely to succeed in time for the crunch date: a €14.5bn bond repayment falling due on March 20."
We are going back to the barter system between countries soon....so many bushels of wheat for so much tons of rice etc.... Money of every kind will be distrusted soon....its value will fluctuate too rapidly......
just another dirty money scam that involves the people who own the world creating a situation of debt then buying everything bit of it dirt cheap.
Originally posted by samkent
reply to post by openeyeswideshut
just another dirty money scam that involves the people who own the world creating a situation of debt then buying everything bit of it dirt cheap.
Just how did the bond holders create the debt? The people of Greece borrowed and spent the money.
The hedge funds entered a contract to loan x amount of money for a return of a specific percent interest.
Greece wants to negate the contract and convert the deal to half the face value over a longer period of time.
Suppose you loaned your brother in law $10K to be paid back in 6 months. Three months later he want to change the deal to pay you $5K in 5 years. Is that fair to you???