Argentina to default..?!

[spazzdla]

http://www.ft.com/intl/cms/s/0/9b6b29ba-11b9-11e4-8279-00144feabdc0.html 

[galbros]

US hedge fund managers win again!

Not sure I feel that sorry for Argentina though, they should never have given up sovereign immunity for their bond issue.

[psudoBTC]

US hedge fund managers win again!

Not sure I feel that sorry for Argentina though, they should never have given up sovereign immunity for their bond issue.

There is no reason to feel sorry for Argentina as they have a history of reneging on loans. If they were a member if this community they would likely be labeled a scammer

[doggieTattoo]

US hedge fund managers win again!

Not sure I feel that sorry for Argentina though, they should never have given up sovereign immunity for their bond issue.

If they didn't give up sovereign immunity then they would not have been able to borrow as they had defaulted on their bonds many times.

[kerafym]

People need to stop lending dead beat money.

[Lethn]

Fuck off with your pay walls.

[Ron~Popeil]

No big surprise there. Maybe they should focus on fixing their own currency rather than meddling with bit coin.

[Swordsoffreedom]

Fuck off with your pay walls.

Geh another paywall alternate source
Non-Paywall
http://www.latinfinance.com/Article/3364272/Fixed-Income/Argentina-says-impossible-to-avoid-default.html#.U89mw7GTEvI

Argentina said on Tuesday it would be "impossible" to avoid a default after Judge Thomas Griesa declined to postpone effect of a ruling that calls for a $1.5bn payment to holdout creditors led by NML Capital. undefined

Griesa said he did not consider that the stay would help the parties to reach an agreement. Instead he ordered them to hold "continued" talks.

It will be "impossible" to reach a deal with NML Capital before July 30, when Argentina will be declared in default for failing to pay the holders of restructured bonds, attorney Jonathan Blackman, who represented Argentina in the hearing, was reported as saying by state-run news agency Telam.
Griesa's order means that Argentina and NML are set to meet at the negotiating table this week. It will be the first official meeting between the two parties since the US Supreme Court upheld the ruling against the country in late June.   

[superresistant]

Copy paste the main point of the article please. We cannot access your link.

[renee25]

and it's gone...  
http://www.zerohedge.com/news/2014-07-30/argentina-defaults
http://www.bloomberg.com/news/2014-07-30/argentina-defaults-according-to-s-p-as-debt-meetings-continue.html

[Lethn]

LOL - did he really say that? Good grief.

Best comment I have ever seen on Paul Krugman's denial of the state of western economies, I burst out laughing.

[superresistant]

and it's gone...  
http://www.zerohedge.com/news/2014-07-30/argentina-defaults
http://www.bloomberg.com/news/2014-07-30/argentina-defaults-according-to-s-p-as-debt-meetings-continue.html

Thanks.
I think it is great because it shows how FIAT money only benefit to a small elite while it is always the people that suffer consequences.
There must be a lot of opportunities for business based on Bitcoin in Argentina.

[cryptofan5]

And now its a Cyprus scenario all over again. When I think about it, this should push the btc price up, isn't it?

[Lethn]

It will push Gold/Silver up too, the collapse is beginning now that a fairly sizeable country is defaulting, it's not like Argentina is a tiny island in the middle of nowhere or anything.

[efreeti]

It will push Gold/Silver up too, the collapse is beginning now that a fairly sizeable country is defaulting, it's not like Argentina is a tiny island in the middle of nowhere or anything.

Yes. I suspect it won't be the only country that default in the coming months.

[superresistant]

It will push Gold/Silver up too, the collapse is beginning now that a fairly sizeable country is defaulting, it's not like Argentina is a tiny island in the middle of nowhere or anything.

Yes. I suspect it won't be the only country that default in the coming months.

Exactly. The fall of a major country like Argentina is the beginning of the fall for the whole system because everything is connected.
Let's watch while accumulating cryptos.

[Kluge]

Whoa, guys -- it's Argentina, not a respected government, and it's not a "real" default. It's more like a settlement SNAFU.

As I increasingly favor long-winded anecdotes in my exceptionally old age (or perhaps under influence of Phin)... Locally, we had an issue where a neighboring county paid (issued a bond, actually) for sewage lines and hookups to our county, but two other counties informally agreed to pay for it because they were connected to that county, so all three counties could send their shit to my county. My county actually funded the bond, which is awesome because we have no money, so my shit-eating retard county issues its own bonds to make up for funding deficiencies which we all pay for because, in case I wasn't clear, my county is run by shit-eating retards... Anyway, since there was no formal agreement, the counties disputed who should pay what and the county which "put its name" on the bond ended up being in default after formally refusing to make the bond payment. It had the money, but it disputed this idea that it was supposed to pay what it formally agreed to when the other counties informally agreed to do splitsies. Long story short, my county threatened to increase the shit pumping fees on customers of all three counties to make up for the counties acting like shit, and then the shit counties finally agreed to all do even splitsies on the shit bond, so now we're all sitting pretty with a shit-eating grin.

Moral of the story: Argentina should just tell all its creditors to eat shit and get on board with the settlement agreement. US hedge fund is managed by shit-eating retards if they think not accepting payment is going to increase their earnings on an already-good deal. They had leverage, Argentina called their bluff, and now everyone comes out looking stupid. Argentina should formally renounce any liability on bonds issued to predatory morons.

[negafen]

Is there money to be make by selling bitcoin in Argentina?

[BCEmporium]

It will push Gold/Silver up too, the collapse is beginning now that a fairly sizeable country is defaulting, it's not like Argentina is a tiny island in the middle of nowhere or anything.

Yes. I suspect it won't be the only country that default in the coming months.

Exactly. The fall of a major country like Argentina is the beginning of the fall for the whole system because everything is connected.
Let's watch while accumulating cryptos.

Sorry to disappoint you, but this isn't the first time Argentina defaults and the system is still around...

[superresistant]

Sorry to disappoint you, but this isn't the first time Argentina defaults and the system is still around...

Yes, it is the second time.
Well let's see what happen.

Is there money to be make by selling bitcoin in Argentina?

I think so.
Bitcoin would increase by 10 fold every years compared to Argentinian Pesos.