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Daily Archives: June 26, 2011

Economy, Europe, Politics

When Is A Default Not A Default?

June 26, 2011 Ross

Why when governments and central banks lie about it, of course!

Now notice what’s going on here: Many of these banks bought these things when they were severely distressed, thereby paying a discounted price. Now they’re going to “exchange” at face, effectively stealing the difference.

Link: When Is A Default Not A Default?

EconomyEuropePolitics

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