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.

 

Moody’s declares Greece to be in default on its debt

page: 1
7

log in

join
share:

posted on Mar, 10 2012 @ 04:51 AM
link   
Moody’s declares Greece to be in default on its debt

The financial ratings company Moody's has compared the latest Greek money deal to a default.

They are calling it a distressed exchange by definition,
and therefor it is a "debt default" !!!

Well, Now What ??


Friday, March 9, 2012 18:59 EST -- The Raw Story

WASHINGTON — Moody’s declared Greece in default on its debt Friday after Athens carved out a deal with private creditors for a bond exchange that will write off 107 billion euros ($140 billion) of its debt.

Moody’s pointed out that even as 85.8 percent of the holders of Greek-law bonds had signed onto the deal, the exercise of collective action clauses that Athens is applying to its bonds will force the remaining bondholders to participate.

Overall the cost to bondholders, based on the net present value of the debt, will be at least 70 percent of the investment, Moody’s said.

“According to Moody’s definitions, this exchange represents a ‘distressed exchange,’ and therefore a debt default,” the US-based rating firm said.

The Article


It's time to round up all the thieves and freeze their assets

Then distribute the money to the victims !!




posted on Mar, 10 2012 @ 05:21 AM
link   
All we have to do is for everyone to default on their debts. Done. Instant universal solvency. Then we scrap all money and holdings and start fresh. Everyone on an even footing.



posted on Mar, 10 2012 @ 06:05 AM
link   
in october 2007, I wrote a letter to each creditor I had telling them to prove I owed them money.

I stopped all payments to them at that point.

I've not paid anything since. not one of them have proven the debt or taken it to court.

they have about a year left to run then it all becomes statute barred (legally uncollectable)

the total was 24500 give or take a few quid.

that's what everyone should do. just hold your nerve, they send letters and threaten allsorts, but never do it....



posted on Mar, 10 2012 @ 07:42 AM
link   

Originally posted by robrobby
in october 2007, I wrote a letter to each creditor I had telling them to prove I owed them money.

I stopped all payments to them at that point.

I've not paid anything since. not one of them have proven the debt or taken it to court.

they have about a year left to run then it all becomes statute barred (legally uncollectable)

the total was 24500 give or take a few quid.

that's what everyone should do. just hold your nerve, they send letters and threaten allsorts, but never do it....



Quality




posted on Mar, 10 2012 @ 07:55 AM
link   
This is not a good thing.

Now that Greece has defaulted, it may only be a matter of time that we see other nations (Italy?) shoved into similar measures that will only end in a string of defaults one after another.

I'm not much of a doom and gloom kind of guy, but I would be looking for global currency soon. Government debt will be forgiven and pushed onto the individual.



posted on Mar, 10 2012 @ 08:11 AM
link   

Originally posted by sheepslayer247
This is not a good thing.

Now that Greece has defaulted, it may only be a matter of time that we see other nations (Italy?) shoved into similar measures that will only end in a string of defaults one after another.

I'm not much of a doom and gloom kind of guy, but I would be looking for global currency soon. Government debt will be forgiven and pushed onto the individual.


Not a bad theory.

Maybe all the central banks will consolidate and all world citizens will pay off everything equally.
(similar to what some countries are doing already)

That might be the only way now.

They can call it "The New World Derivative"



posted on Mar, 10 2012 @ 08:27 AM
link   
reply to post by sheepslayer247
 



I would be looking for global currency soon. Government debt will be forgiven and pushed onto the individual.


And the corporations will take over because they have the business skills "to run nations properly."

Good thing everyone already signed all those "free trade" agreements. No need to write any new legislation.







posted on Mar, 10 2012 @ 08:59 AM
link   
reply to post by robrobby
 

I used to have an account with a major South African retail chain,in the days when my husband did contract work,and earned good money.After circumstances forced him to take a low-paying maintenance job in his field,i was unable to pay this bill.They would phone me about once/twice a month,and i kept explaining i could not yet afford to pay,but would contact them when i could.It came to a point where they started phoning me every 2nd day,each time another credit office employee phoned me,and i had to explain my position all over again.Till i got tired of this bs+told them,to have their lawyers contact me via mail,and that i would not acknowledge phone contact with them,as the credit officers were patently unable to comprehend even the most basic concepts.And they did continue phoning me-so i terminated the call each time it was them phoning,without saying one word..Then they stopped phoning,and i never had from them again, or their lawyers.



posted on Mar, 10 2012 @ 05:08 PM
link   
reply to post by xuenchen
 

IMO, the central banking system is nothing more than the infrastructure in which to implement a global currency.

Could that be why there is such a push against Iran, Venezuela and one other nation (can't remember off the top of my .) because they have not given in to central banking?

We are quickly coming to a point in which debt and money have run their course and have come full circle. We will have to either forgive all current debt including personal debt, and start over, or start a new program like central banking/global currency.



posted on Mar, 10 2012 @ 05:44 PM
link   
I declare Moody's to be a terrorist organization.

They instill fear.

The end.



posted on Mar, 10 2012 @ 05:51 PM
link   

Originally posted by zroth


I declare Moody's to be a terrorist organization.

They instill fear.

The end.


That, moody's can shove it..



posted on Mar, 10 2012 @ 05:54 PM
link   
As a kid I learned if your going to fall and break bones so be it.....
I did fall and break bones and I learned not to fall again.
This whole fiasco is because of the easy credit they created out of thin air when introducing the Euro.
Give a teenager a credit card with an unlimited balance and watch the poop fly.

This did not need to happen nor should it have happened at all.
We trust these Global leaders with our lives and they spend them like a kid at the candy store.
Regards, Iwinder



new topics

top topics



 
7

log in

join