As the news reaches us that as predicted the city councils throughout New Zealand have ratcheted up the highest debts per capita ever Moody has declared Greece in default. This presents a clear case of a default event and while the central banks and other fraudulent finance institutions such the IMF et all. want us to believe that in this case a default isn’t a real default therefore it won’t trigger an insurance derivatives payout which will lead to the collapse of the five to big to fail banks there is ample indication that big hedge funds and other institutions which have invested heavily in PIIGS bonds will not take this lying down.
The next couple of weeks are going to be seriously intense as the domino’s will begin to fall.
Here are some links you might want to check out:
Economic collapse blog: One