Argentina Debt Crisis: U.S. Demands 1.5 billion cash (Bitcoin to Rescue?) - page 5.

Honeypot

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Quote from: Beliathon on June 17, 2014, 09:21:06 PM

Quote from: doof on June 17, 2014, 06:49:45 PM

Quote from: Beliathon on June 17, 2014, 06:25:39 PM

Quote from: beetcoin on June 17, 2014, 02:22:06 PM

wait, why is it extortion on debt? if you owe the money, then you have to pay it.. no? can't blame a debt collector from collecting debt.

Fuck yes we can. I have student loan debt. Am I going to pay it ? Nope. Not ever. Over my dead fucking body will they get a penny from me.

Why? Because I don't want to fund the evil banksters who prey on impressionable young 18 year olds who don't know jack shit about the world, 18-year olds who are pressured by society into college they can't afford.

Same reason I don't buy cigarettes.

Huh? You had a choice to go to uni and further your education. You want to blame *evil bankers* because you cant do high school math and make a real decision at 18?

Was it really a choice, though? From childhood it's drilled into our heads that the ONLY way to a decent life is through higher education, which has become completely unaffordable for the vast majority of Americans.

Suffer a life of wage-slavery and abuse, or go to college. Hmm yeah no pressure there, totally a legit decision the average 18 year old is mature enough to make!

That must be why the USA has a trillion dollar student loan debt bubble, you massively ignorant fuckwit. I beg you, read a book or shut the hell up and get out of the way. Your ignorance disgusts and enrages me.

Somebody poked you in the right places for you to squeal that much

Should have taken extra care to balance your funds, and win scholarships. Middle class gets hit hard because of tuitions, but from my experience, those who really try to look for necessary funds outside of their comfort zone find more of them they thought.

This is speaking to various college students of various backgrounds, from filthy poor to filthy rich and everything in the middle. You just sound like a frustrated impotent.

Any college tuition benefit organization would not like a student who thinks blaming 'brainwashing' at early age for their poor choices. You don't sound like you know what that really means.

Typical college kids these days. I would only pity you because you were raised by sub standard environment and cannot be bothered to know any better.

Beliathon

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https://youtu.be/PZm8TTLR2NU

Quote from: doof on June 17, 2014, 06:49:45 PM

Quote from: Beliathon on June 17, 2014, 06:25:39 PM

Fuck yes we can. I have student loan debt. Am I going to pay it ? Nope. Not ever. Over my dead fucking body will they get a penny from me.

Why? Because I don't want to fund the evil banksters who prey on impressionable young 18 year olds who don't know jack shit about the world, 18-year olds who are pressured by society into college they can't afford.

Same reason I don't buy cigarettes.

Huh? You had a choice to go to uni and further your education. You want to blame *evil bankers* because you cant do high school math and make a real decision at 18?

Was it really a choice, though? From childhood it's drilled into our heads that the ONLY way to a decent life is through higher education, which has become completely unaffordable for the vast majority of Americans.

Suffer a life of wage-slavery and abuse, or go to college. Hmm yeah no pressure there, totally a legit decision the average 18 year old is mature and informed enough to make!

That must be why the USA has a trillion dollar student loan debt bubble, you massively ignorant fuckwit. I beg you, read a book or shut the hell up and get out of the way. Your ignorance disgusts and enrages me.

That's because your ignorance enables the oligarchs to continue their enslavement of the populace of this world, and that can no longer be tolerated by any decent, well-informed, ethical human being. Ignorance in the information age is totally shameful and unforgivable. It's so easy to learn, now.

How ironic that I'M the one who did his homework. Better luck next time, you clueless assclown.

LostDutchman

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Argentina owes the money.

A court of competent jurisdiction has affirmed the validity of the debt and its call.

Argentina needs to pay up.

Perhaps Argentina should be repossessed?

Honeypot

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Activity: 420

Merit: 250

Quote from: doof on June 17, 2014, 06:49:45 PM

Quote from: Beliathon on June 17, 2014, 06:25:39 PM

Quote from: beetcoin on June 17, 2014, 02:22:06 PM

wait, why is it extortion on debt? if you owe the money, then you have to pay it.. no? can't blame a debt collector from collecting debt.

Fuck yes we can. I have student loan debt. Am I going to pay it ? Nope. Not ever. Over my dead fucking body will they get a penny from me.

Why? Because I don't want to fund the evil banksters who prey on impressionable young 18 year olds who don't know jack shit about the world, 18-year olds who are pressured by society into college they can't afford.

Same reason I don't buy cigarettes.

Huh? You had a choice to go to uni and further your education. You want to blame *evil bankers* because you cant do high school math and make a real decision at 18?

This.

Honeypot

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Activity: 420

Merit: 250

Quote from: doof on June 17, 2014, 06:49:45 PM

Quote from: Beliathon on June 17, 2014, 06:25:39 PM

Quote from: beetcoin on June 17, 2014, 02:22:06 PM

wait, why is it extortion on debt? if you owe the money, then you have to pay it.. no? can't blame a debt collector from collecting debt.

Fuck yes we can. I have student loan debt. Am I going to pay it ? Nope. Not ever. Over my dead fucking body will they get a penny from me.

Why? Because I don't want to fund the evil banksters who prey on impressionable young 18 year olds who don't know jack shit about the world, 18-year olds who are pressured by society into college they can't afford.

Same reason I don't buy cigarettes.

Huh? You had a choice to go to uni and further your education. You want to blame *evil bankers* because you cant do high school math and make a real decision at 18?

Enjoy paying the debt you took willingly either through plain irresponsibility or naivte the other way around. In prison or destroyed credit rating.

It's this kind of bitch mentality that does more damage than good for fight against corruption.

Honeypot

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Activity: 420

Merit: 250

Quote from: leopard2 on June 17, 2014, 07:46:55 PM

debt is fine as long as its your own currency, just print it

Share Argentina can't scam their creditors by printing USD like USA can Sad

Shame US can't retaliate against all those nations dumping and bribing their way to compete and undercut world markets to their advantage, claiming 'cultural differences' whenever convenient.

Oh wait, we can

leopard2

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debt is fine as long as its your own currency, just print it

Share Argentina can't scam their creditors by printing USD like USA can Sad

doof

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Quote from: Beliathon on June 17, 2014, 06:25:39 PM

Quote from: beetcoin on June 17, 2014, 02:22:06 PM

wait, why is it extortion on debt? if you owe the money, then you have to pay it.. no? can't blame a debt collector from collecting debt.

Fuck yes we can. I have student loan debt. Am I going to pay it ? Nope. Not ever. Over my dead fucking body will they get a penny from me.

Why? Because I don't want to fund the evil banksters who prey on impressionable young 18 year olds who don't know jack shit about the world, 18-year olds who are pressured by society into college they can't afford.

Same reason I don't buy cigarettes.

Huh? You had a choice to go to uni and further your education. You want to blame *evil bankers* because you cant do high school math and make a real decision at 18?

Beliathon

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Activity: 784

Merit: 1000

https://youtu.be/PZm8TTLR2NU

Quote from: beetcoin on June 17, 2014, 02:22:06 PM

wait, why is it extortion on debt? if you owe the money, then you have to pay it.. no? can't blame a debt collector from collecting debt.

Fuck yes we can. I have student loan debt. Am I going to pay it ? Nope. Not ever. Over my dead fucking body will they get a penny from me.

Why? Because I don't want to fund the evil banksters who prey on impressionable young 18 year olds who don't know jack shit about the world, 18-year olds who are pressured by society into college they can't afford.

Same reason I don't buy cigarettes.

Erdogan

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Basically, some holders accepted a partial payout, some said no, we want it all. Argentina wants to pay to the ones in the deal, and nothing to the ones who want it all (the so called holdouts). The court said no, you can't do that.

You can not force anyone to not default. If there is no money to pay in due time, there is a default and that reality can not be changed. A dual standard, paying some and not others, is an act of will. It is a game to try to consume more of other parties' money (continuation of "access" to the market). It is wrong.

Anyway, any government should be able to manage without lending. Continually expanded lending means the inevitable crisis down the road.

ShakyhandsBTCer

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What the issue is, for those who are not familiar with the backstory:

Several years ago Argentina issued debt to investors. They were perceived as risky and had to agree to certain terms. One of the terms was that they agreed to give up "sovereign immunity" for the debt in question and disputes would be resolved by the US court system. In other words they gave up certain rights that countries normally have when issuing debt and in the event of a dispute the court case would be herd in US Federal Court.

Some time later Argentina was having trouble "servicing" it's debt and worked with creditors to restructure. A good portion of bond holders agreed to a reduced principle and reduced interest payments (they took losses). Not all bond holders agreed.

Argentina has decided to pay interest to bondholders that agreed to take losses while not pay anything to bond holders that didn't.

......

Now the US has said that if it does not pay the bondholders that did not take losses (they are in default on those bonds and due owe money to these bondholders) then Argentina would not be able to use the uS financial/bank system to pay bondholders that did take losses (bondholders that they want to pay).

franky1

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Quote from: pening on June 17, 2014, 05:31:35 PM

Quote from: franky1 on June 17, 2014, 04:54:43 PM

guess you missed the video's about how mortgages, loans, credit is how money is created.

US 'created' money (no true value went to argentina) but now US wants true value back

You should read the article and a few related sources. They borrowed money, some which would have been from pooled private savers, pensions etc, and they defaulted. A company hoovered up the worthless bonds and sued them to pay back, which they won and the US courts verdict means they either pay or get cut off. They actually have the cash $ but don't wish to spend it on repaying this debt. They want to be at the party but not bring a bottle.

... bond holders... so i think we are on the same page..

pening

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Quote from: franky1 on June 17, 2014, 04:54:43 PM

guess you missed the video's about how mortgages, loans, credit is how money is created.

US 'created' money (no true value went to argentina) but now US wants true value back

You should read the article and a few related sources. They borrowed money, some which would have been from pooled private savers, pensions etc, and they defaulted. A company hoovered up the worthless bonds and sued them to pay back, which they won and the US courts verdict means they either pay or get cut off. They actually have the cash $ but don't wish to spend it on repaying this debt. They want to be at the party but not bring a bottle.

allthingsluxury

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Quote from: Swordsoffreedom on June 17, 2014, 05:21:15 PM

Hasn't Argentina defaulted a few times now
Or am I mixing it up with another state nope looks at the link and thinks their is a place called the Foreign Debt Museum
That said it looks like these bonds will become Junk soon

Correct, they've defaulted a number of times in recent history.

S4VV4S

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Quote from: ArnoldChippy on June 17, 2014, 05:17:01 PM

Argentina should take a leaf out of America's book.
Repay the 'debt' by printing a load of Pesos at the current US$ exchange rate.

I might be wrong but I think the Federal Reserve print their money too.
So, they wont accept it.

Swordsoffreedom

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Hasn't Argentina defaulted a few times now
Or am I mixing it up with another state nope looks at the link and thinks their is a place called the Foreign Debt Museum
That said it looks like these bonds will become Junk soon

ArnoldChippy

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