Posted on 08/17/2015 8:15:08 PM PDT by Kartographer
The catalyst was Friday's pronouncement by Jeroen Dijsselbloem who said depositors will be shielded from any losses resulting from the restructuring of the nation’s financial system, but that senior bondholders would certainly be impaired and probably wiped out. In other words, once again the superpriority of various classes has been flipped on its head with general unsecured liabilities ending up senior to, well, senior bank claims.
(Excerpt) Read more at zerohedge.com ...
Well, isn’t that special.
It came to America in 2009 when Soetoro stole General Motors and gave it to his union buddies.
yep. same difference.
Except that America won’t be bailed out by other nations. A near halt to all international trade with the USA would follow repudiation time, and that time will come. It’s already being done behind the scenes against pension funds (see fake freezing of national debt and causes).
Great post and comments here and zero hedge. Read them all.
In Greece, bank rob you.
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