Apparently Greece Defaulted

[Awoke]

http://www.zerohedge.com/news/so-greece-defaults-and-europe-moves

[madfranks]

Defaulted to who? The very first line in that article says that central banks are still accepting Greek debt, so... methinks that's not really a default.

[jimswift]

Personally it looks like to me the whole world has defaulted.

You cant just keep conjuring up trillion upon trillion throwing it into an abyss.

It reminds of in the movie 'Dumb and Dumber' when they have all the IOU's.....hell, here it is:


http://www.youtube.com/watch?v=7GSXbgfKFWg
http://www.youtube.com/watch?v=7GSXbgfKFWg

[ximmy]

February 28, 2012 - 5:46am

At long last: the ratings agency Standard & Poor’s has deemed Greece to be in “selective default”. The European Central Bank has temporarily suspended the use of Greek bonds as collateral. However, stocks have been moving higher in trading this morning following the vote in the German Bundestag yesterday to authorise the new 130 billion-euro Greek bailout deal agreed by finance ministers last week. The markets have after all had months to come to terms with the idea of Greek bankruptcy.

Moreover, as Jim Sinclair points out at JSMineSet.com: “Only the International Swaps and Derivative Association opines on what is a default as it applies to credit default swaps. S&P carries no power over the performance (or lack thereof) of CDSs.” It is this uncertainty about whether CDS written on Greek debt can be honoured that still has the serious potential to spook investors.

http://www.silverseek.com/article/turk-‘silver-price-68-70-two-three-months’

[gunDriller]

http://www.youtube.com/watch?v=7GSXbgfKFWg&feature=player_embedded

the only difference i can see is, Jim Carrey is much smarter than George Bush. Carrey just plays an idiot.

Bush may not have been an idiot, but he was unable to comprehend the complexities of the US gov.

http://www.willisms.com/archives/filingcabinet.gif

[Serpo]

Personally it looks like to me the whole world has defaulted.

You cant just keep conjuring up trillion upon trillion throwing it into an abyss.

It reminds of in the movie 'Dumb and Dumber' when they have all the IOU's.....hell, here it is:


http://www.youtube.com/watch?v=7GSXbgfKFWg
http://www.youtube.com/watch?v=7GSXbgfKFWg

FIAT...............

IOU the gold for this fiat ....................except we dont have the gold ,nobody does so its OK.............

[Hatha Sunahara]

The meaning of the word 'default' has been corrupted. If you use another word for it, like, 'haircut', does that deny it happened?

How long can you keep up the charade that Greece still has any credit? Slavery for the Greeks. Move along, Pay no attention to the dragons along the road. The facts are no longer important. What's important are the perceptions.

Hatha

[Neuro]

I guess the word default took on a fluid meaning with the advent of funny money. Like most terms associated with finance, new terms are constantly invented to make things appear better than they are...