Effects Of A Default On Expats

[Joe]

To the several posters who are quoting zerohedge here: that site is generally considered a joke in US financial circles.

US financial circles are generally considered criminals by the man on the street.

 

[French jurist]

Two reasons why this wouldn't work: 1. look up the definition of Holders. I haven't, but I'm pretty sure it refers to the bond holders, not DTC (yet another intermediary). The money would not be in the Holders' hands if it's blocked in a DTC account, as it would be under Griesa's order. 2. The time to cut the checks would have been on or before the date the payments were due, i.e. June 30. Missing that deadline (plus the cure period) = default.

It's a weird article. Not sure for (2) since Argentina pretends the country paid, so "curing the default" could work (no clue how "curing a default" works technically).

What seems weird to me, unless my memory fails me in this complex saga, is that Argentina was denied the right to know the identity of the holders (will check again) so impossible to know where to mail the check. As to "directing the trustee to mail" the check = trustee is BoNY here, so back to the start?

Could it be that this article is wrong?

 

[Bkentfc]

Is it just me? or the discussion has drifted from how the default actually affects us expats in terms of our daily life in the country, to the technicalities of the default in itself? oh well...

 

[ajoknoblauch]

Is it just me? or the discussion has drifted from how the default actually affects us expats in terms of our daily life in the country, to the technicalities of the default in itself? oh well...

Should it be surprising when discussion of a complex topic takes off on a tangent? There is no judge obliging the witness to answer the question asked, and nothing more.

 

[Joe]

Is it just me? or the discussion has drifted from how the default actually affects us expats in terms of our daily life in the country, to the technicalities of the default in itself? oh well...

Yes, it's quite strange that the discussion has gone off-topic that is highly unusual in this forum

There was the useless tiny wax paper napkin discussion that turned into a discussion of the pros and cons of bidets.

And any discussion has the potential to rekindle the Ajo / Steve feud. This is simply the cross a BAexpater has to bear.

As Hybrid-san's leader once told us: we must endure the unendurable and suffer that which cannot be suffered.

 

[ajoknoblauch]

Yes, it's quite strange that the discussion has gone off-topic that is highly unusual in this forum

There was the useless tiny wax paper napkin discussion that turned into a discussion of the pros and cons of bidets.

And any discussion has the potential to rekindle the Ajo / Steve feud. This is simply the cross a BAexpater has to bear.

As Hybrid-san's leader once told us: we must endure the unendurable and suffer that which cannot be suffered.

I have no feud with anybody in a fortified compound on the outskirts of Bahía Blanca, but I won't hesitate to point out his silliness when I see it.

 

[Joe]

I have no feud with anybody in a fortified compound on the outskirts of Bahía Blanca, but I won't hesitate to point out his silliness when I see it.

I don't think anyone would accuse you of being hesitant in battling your nemesis.

However, like a US military drone strike, there is invariably collateral damage.

 

[Bkentfc]

Should it be surprising when discussion of a complex topic takes off on a tangent? There is no judge obliging the witness to answer the question asked, and nothing more.

Rightfully so mr ajo, I was merely stating a common occurance on the forum which for most parts, the digression is unintentional apart from when discussions about football are hijacked by a baseball - loving shmuck

 

[ajoknoblauch]

Rightfully so mr ajo, I was merely stating a common occurance on the forum which for most parts, the digression is unintentional apart from when discussions about football are hijacked by a baseball - loving shmuck

Soccer is mostly innocuous - except when it isn't: http://tinyurl.com/9959kmb

 

[ajoknoblauch]

I don't think anyone would accuse you of being hesitant in battling your nemesis.

However, like a US military drone strike, there is invariably collateral damage.

I respect your intelligence, but regarding the home-schooled on the outskirts of Bahía Blanca, perhaps the Churchillian principle should apply: http://tinyurl.com/mkyhbmd

It's a temptation because it's just too easy.