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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: Real Man who wrote (55601)	6/19/2014 3:18:44 PM
From: Ahda	1 Recommendation Recommended By 3bar Read Replies (1) \| Respond to of 71479

Argentine Default Looms; Refuses To Negotiate; Admits Next Bond Payment "Impossible"Submitted by Tyler Durden on 06/19/2014 - 09:27 Argentina's attempt to work around SCOTUS decision in favor of the 'holdouts' was rejected (under anti-evasion orders) last night leaving Argentina no alternative but to threaten to default on its debt. The government called it "impossible" to pay bond service due on June 30, because payment to holders of restructured bonds could not be made unless the 'holdouts' were paid $1.33 billion at the same time (and Argentina's economy minister argues could be up to $15 bn) which the distressed country clearly does not have. For the first time in 12 years, Argentina has agreed to negotiate with the 'holdouts' (has renegged on that negotiation) who refused to participate in two restructurings that followed Argentina's 2002 default but it seems increasingly likely that an even of default looms for Argentina. One good thing may come from the victory of the 'hold-outs': the government will find it difficult to rack up more debt. >>Now, if Argentina could only print US dollars -- there would be no problem!