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10 Out Of 10 Credit Experts Agree: The Country Most Likely To Default First Is...
With an 83% probability of default within 5 years, Venezuela is in trouble... imminent trouble with a 24% chance of default within a year (more than 10 times the probability of a Russian default)
Charts: Bloomberg
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We defaulted some folks.
I didn't know you could bet on this shit.
That's what CDS is all about.
Umm... Japan?
Japan and all countries that inflate. Inflation is default.
Que?
Hell, I'd say if this chart were true, it's a downright rosy outlook. 5 years before venezuela defaults?! The rest of us are sittin' pretty! Party on! Go Bulls!!!!!
There is no such thing as a credit default anymore. CDS will never be triggered.
No, but we know some guys who know some guys who defaulted some folks.
Goldman to the rescue.. all is well.
Here's one dollar.
Don't spend spend it all at once either mister!
there is more than one way to de-fuck the populi....
[they are just too stupid to grasp it]
Does this mean no Christmas? O wait Black Friday was great.
http://www.mrctv.org/blog/chart-social-security-s-end-date-fast-approach...
Looks like Social Security is not far behind
I rarely laugh at pictures of pols or crats. My knowledge of what they are and abject distaste for them always overrides any humor I may feel--pols, crats, funcs, and banksters are criminals not clowns.
However, this picture of Bush Jr. visiting the Social Security "lock-box" still makes me laugh out loud.
http://www.justfacts.com/images/socialsecurity/gwb.jpg
Don't worry, be happy, it's all locked up in a box for you. LOL
An American, not US subject.
And Bush Jr. is a criminal clown.
Wait. You just described an Insane Clown Posse.
Are we all Juggalos now?
War is a form of default. Who has the etchiest looking trigger finger?
Would be appear to be Missouri.
So far "nothing but crickets chirping" save for the St Louis "Rambos."
Never have looked forward to watching football actually. "And what comes before and after the game too."
SHAKE YO MONEY MAKER!
SHAKE YO MONEY MAKER!
etchiest. instead of itchiest. a very interesting typo. they key is not so close.
If any big banks hold their paper the Fed will buy it at par - maybe even at a premium because of the high coupons. It's not like anyone else matters, so hey, VZ loses. The next step is to let 'em starve until they puke up their resources to their proper owners: Exxon-Mobil, BP et al.
Christ, want to laugh at this. Can't.
Coup plans already underway. The Spice must flow. And harvested by Exxon, BP, et.al.
You control the debt, you control the conflict. This is the essence of banking....to make us all nations or individuals, slaves to debt.
https://www.youtube.com/watch?v=UiN1xHaNDJ0
No worries it's just a little podunk backwards 3rd world commie country, so it won't even be noticed.
That's kind of how Greece and Portugal were explained and they almost took the European Union down until the Fed. & ECB spent trillions stabilizing European bond markets.
So who's going to stabilize the Venezuelan bond markets if they blow? What about the contagion it spreads to the rest of South America and the oil markets?
How many podunk backwards Nation-States will have to default before the contagion reaches the West? It is Goldman Sachs et al facilitating the loans....
YES SIR, irritations at the peripheries are catalysts to contagions in a global internet economy.
Everyone will default soon. The system is far over leveraged.
Goldman's a member of OPEC now.
The member that shorts the shit of of the price after everyone else agreed to keep it primed.
Interesting. My less informed, but insightful, father said the other day, "The only defenseless nation that has gold and oil, and no military, that the US has left to actually invade, is Venezuela."
I told him, "Only a Venezuelan default on the banksters' phony debt might initiate that.
Maybe him and I should look into picking lottery numbers together.
An American, not US subject.
"Actually, thinking deeper about it, one can only conclude that the killing of Michael Brown was in actuality a debt-collection gone wrong. Ditto, the killing of Kelly Thomas, Oscar Grant, James Boyd, John Williams..."
I have family in Caracas. Food is already scarce and crime is rampant. My Venezuelan relatives don't know the price of oil nor do they realize the impact its decline will have on their economy until it gets real. You can warn people, but they don't hear. It must be karma or preordained. In any case there is a silver lining. My wife use to think I was crazy. Now she believes me. She doesn't say a word when ammo, PMs, or food show up in the mail. Get ready...as best you can. Venezuela use to be an amazing place to live.
I concur. When the Fed reaches the point that they outlaw gold ownership once again, it'll only be a matter of time before they print new currency and offer 10% on all of the old paper that your normal idiot will have placed all of their trust in. Won't get fooled again, my ass! LOL
Counter party risk, boyz. No one has the capital to pay a claim. The BOJ, ECB, and FED are out of ammo. They can't prop this up again like after Lehman.
Sure they can. They can buy lots more things... maybe art next, oh wait. Anyway, there's always tax refunds!
Oh and the banks be holding something about $3.5T in excess reserves - ammo. It is apparent that the target is absorbing more hits faster as time goes by - ammo ain't what it used to be. It won't take nearly as long to blow that wad as it did to store it up.
There goes another 300+ tonnes of gold to the Gold Cartel, led by, in this case, Goldman and Bank of America.
This chart is incomplete. Where is the US on this chart?
Well, in the USA the States are the Sovereign not the Feds...which is a nice way of saying "the Federal Debt is the problem of Governor so and so" and not Congress or anyone else in the District of Columbia.
This strikes me as a very important factor for all those so called "Keynesians" out there.
There's ABSOLUTELY a demand for repayment of those trillions....and that comes at the level of the State...not the Feds.
You wanna screw with interstate truck drivers in the USA ? Say hello to your State's portion of 16 trillion in debt.
The truck driver don't care cuz he ain't paying shit.
With no banking system right now might want to consider options other than "food stamps."
Americans will grow their own food...they will share it with their neighbors. "And that will be that."
Ukraine defaults after the gold is gone ... somehow ssmart.
The US isn't on the chart because it already has defaulted. But fear not my fellow stragglers, deals were made behind closed doors to ensure your freedoms to someone else and the new owners are not yet ready to "Enlighten" civilians about what has taken place and what it means for their future.
Oddly enough, the country most resembling democrat policies.
While Venezuela may be higher than the Ukraine, at least it has some valuable resources.
What does the Ukraine have that will actually help it not default before Venezuela? Some farmland, that has to be planted and harvested every year. War does tend to interfere with farming, usually.
Coal is in the east, most industry is in the east. The only thing the Ukraine has is European guarantees, which are worth nothing.
At least Venezuela has some oil infrastructure which has to keep producing, otherwise, it's more expensive to shut down and restart. It's also a mountainous country, with significant forest/jungle terrain. There is no way the Pentagon is stupid enough to invade that. But then again, they did invade Afghanistan....
How about arable land... you know, where you grow FOOD. Ukraine was once called "Russia's breadbasket".
Now, it is CHINA's
http://www.scmp.com/news/china/article/1314902/ukraine-become-chinas-lar...
China can get oil and coal ANYWHERE.