Updated July 29, 2014
Even though it looks like Argentina will in fact default tomorrow, it does appear as if the CDS market (derivatives) can absorb the loss. The “experts” estimate only a $120B total in CDS claims post-default…
Default Swaps
In a meeting last week with Pollack, Argentina called on the judge to create a safeguard against risks related to the RUFO clause, which the country has said may trigger claims of more than $120 billion. Griesa has rejected Argentina’s repeated pleas for a delay.
Credit-default swaps that protect against losses from an Argentine default over the next three months imply a 43 percent chance of non-payment, according to data compiled by CMA. The South American nation’s debt is the most expensive in the world to protect with the swaps.
“If payments are missed for a few days, or even a couple of weeks, acceleration is unlikely to happen,” Citigroup analysts Guillermo Mondino and Jeff Williams wrote in a July 25 report. If bonds subject to cross-default are accelerated, Argentina would still have 60 days to pay the original bonds and decelerate the notes, they said.
Updated July 26, 2014
No changes, except everyone is getting nervous, including the news agencies! Remember how the headlines from before were small and conspicuous? They’ve suddenly gotten more mainstream about this coming issue, which indicates that it is in fact much bigger than they made it out to be…
Note to Newbies: You’ll definitely want to get caught up on this long chain of news. This whole episode was identifed back in May and June from a Project August dream, so we’ve been following this one for quite a while. Please start with the “Previous Article” pasted below, and especially get to the ice cream cone analogy to see how this whole thing was identified.
The news is now getting large. Unfortunately, we received no indication from the dream about what the outcome will be. I’m doubling down that the 5.66 or 566 dream numbers have something to do with it. 4 days and counting…should we brace for impact, laugh about it, or just ignore it like everyone else wants to do?
REMEMBER: as you peer at the amount owed and laugh, keep in mind that derivatives have nothing to do with the amount owed or defaulted. It’s the amount of “insurance policies” that are backed by that default, and THAT is something that no one knows.
Lastly, we know that the debt will more than likely be defaulted on 30 July. That’s all we know at this point. If there are gobs of derivatives attached to this event, then it might take a few days, weeks, maybe even months(?) to ripple through the system. Throughout August, we’ll get more clarity.
http://www.reuters.com/article/2014/07/26/us-argentina-debt-idUSKBN0FV0DH20140726
http://www.chicagotribune.com/business/sns-rt-us-argentina-debt-factbox-20140725,0,3797756.story
Previous Article…
“10 Days: Economic cone melts”
July 20, 2014
I’m currently waste deep into crystal-balling the latest Proj Aug dreams, but I bring you an important update about our ice cream cone dream analogy that we’ve been watching for months now.
The magic number is 10.
10 days left until something economic happens. Will the elite be able to brush this one under the rug when it goes down, or will it cartwheel out of control, blowing the whole debt-based house of cards with it?
Cristina Fernandez de Kirchner, the President of Argentina, is going head to head with the puppeteers at the top, and she refuses to comply…
Argentina bent on default as debt deadline looms: NML
July 20, 2014 – 1:33:58 am
BUENOS AIRES/NEW YORK: A lead holdout investor in Argentina’s debt row said the South American country seemed determined to default, after market gossip of a possible breakthrough sent Argentine bonds higher.
NML Capital Ltd, a unit of Elliott Management Corp suing for full repayment on its bondholdings, said Argentine officials refused to meet or negotiate ahead of a July 30 deadline.
“The Argentine government appears determined to default. We hope it chooses to avoid this dead-end path,” NML said.
If recession-hit Argentina fails to pay out or cut a deal with the New York hedge funds, it faces a default that would prolong its banishment from global capital markets and pile more pressure on an ailing currency.
Reuters puts the fear into Argentina and argues that the only repercussion will be an Argentinian-centric problem. Perhaps the elite can cover over this impending issue without setting off the CDS market, but in 10 days, we will find out.
…and what month will we be in when it all gets dealt with? August 2014.
---------- NDC Announcments -----------
Don’t miss our daily DreamBot run which shows a brief status of the collective unconscious.
Copyright © 2014 Chris McCleary. Except for quotes, all rights reserved and any reference about this material requires a link back to this page.
A very intriging and interesting field of study. I will stay interested and hope to learn more of your project.
Impressed with you. Hope to get more information to better understand DreamForecast.
Thanks
Something indeed is going to occur in August, but what I am seeing is
a celebration, like a big bang…unexpected results occurring. What is planned goes backwards and team darkness gets a bit of light!
Clif High has predicted that something very big breaks out in August. He has not said what it might be but I suspect that the 9/11 truth finally breaks out very openly. Veterans Today has been pushing this very hard since May 2014 when they received a lot of info from various countries’ intelligence services (including the UN’s anti-nuclear proliferation arm.) The 9/11 truth is stupendously big! New Yorkers, you have been nuked!!!
http://www.youtube.com/watch?v=diftT-ErODo
5:35 mins
It’s going to be a very interesting August, fraught with upset
There are going to be a lot of people claiming some kind of a fraud set-up at a very high level
This is going to taint the USA political administration apparently at both parties
It’s going to spread quite wide and it’s going to taint them at a level that we’ll see a bunch of resignations
I don’t know if the resignations will come in August or not
The scandal appears to break then
If you want to read what Veterans Today have been publishing from the info received from French, Russian and British intelligence agencies as well as from the IAEA and even from the US Department of Energy, go and read the nuclear articles by Gordon Duff from 20 May 2014 (starts from ‘Too Classified to Publish: Bush Nuclear Piracy Exposed’).
http://www.veteranstoday.com/author/gordonduff/page/2/
There’s a lot of articles written since then. Duff has also been giving a lot of interviews. Shows such as Mike Harris ‘Short End of the Stick’ on Revolution Talk Radio and Kevin Barrett’s Truth Jihad Radio. Duff has also been writing articles in Neo and Press TV. Here’s a good starter article for those unfamiliar with the 9/11 truth.
Oops! Forgot to post the link. Here it is:
http://journal-neo.org/2014/07/07/so-you-want-to-know-the-truth-about-9-11/
peace peace is what we as humans want for aeverybody now