Vatic Note: This poor country. They are the worst victims of the greedy criminal banker drug running/money laundering cartel on the whole planet! They are the people that suffered most with the Chernobyl fiasco. They are still suffering for it even today. I still believe its payback as another agenda, since they do things for multiple reasons.... for when Khazaria was destroyed as a country back in 1100 AD. I also believe they still hate the muslims and the christians that tore their country apart and forced them to pic a religion and they ended up with the one they hated almost as much as they hated the other two. But in taking it, they became the majority of that religion and have controlled it ever since. They then overlaid their pagan religion over the Judean religion using the Babylonian Talmud. That is another blog altogether. Good for Hungary for giving them and the IMF, the perverbial finger.
Hungary Won't Be The Last To Make Bondholders Pay
by Matthew Lynn, Market Watch
Jan182012
It never ends - protect the billionaire bondholders at all costs. But Hungary's president says 'screw the IMF.'
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LONDON (MarketWatch) — Much like Greece, Hungary was one of those small, slightly peripheral countries that most people in the financial markets probably thought they could get through a career without ever worrying about very much.
With a population of slightly less than 10 million, and with a total gross domestic product of less than $200 billion — only half the market value of Apple Inc. — it hardly had much of a claim on the attention of investors.
But right now, Hungary is or could be the epicenter of the latest next financial storm.
The country is teetering on the edge of bankruptcy. Its authoritarian populist Prime Minister Viktor Orban is refusing to play ball with the International Monetary Fund. Bond yields are soaring and credit is drying up.
The country may, in the next few weeks, become the first major nation of this ongoing sovereign crisis to default — and that could trigger a wave of massive, perhaps even crippling losses across the European and indeed global banking system. (VN: I would like to know how many times have we heard this one? Are you afraid yet? I personally am waiting for them to do it so we can arrest them for what they have done and we can prove it was intentional. Then after they started that destructive ball rolling, the Queen knighted Greenspan for what he did for the BANK OF LONDON AND THE GLOBAL ECONOMY. Give the condition of both, the first, wealthier by trillions of dollars and the latter destroyed by that gift, to "Bank of London" or Rothschilds in other words, I would then surmise that such a knighting was because he accomplished their agenda which means Britain had a hand big time in our demise and thus we must rebel again. Boy, I hope we don't have to keep doing this every 250 years. It gets old.)
The country may, in the next few weeks, become the first major nation of this ongoing sovereign crisis to default — and that could trigger a wave of massive, perhaps even crippling losses across the European and indeed global banking system. (VN: I would like to know how many times have we heard this one? Are you afraid yet? I personally am waiting for them to do it so we can arrest them for what they have done and we can prove it was intentional. Then after they started that destructive ball rolling, the Queen knighted Greenspan for what he did for the BANK OF LONDON AND THE GLOBAL ECONOMY. Give the condition of both, the first, wealthier by trillions of dollars and the latter destroyed by that gift, to "Bank of London" or Rothschilds in other words, I would then surmise that such a knighting was because he accomplished their agenda which means Britain had a hand big time in our demise and thus we must rebel again. Boy, I hope we don't have to keep doing this every 250 years. It gets old.)
Hungary by itself doesn’t matter very much to the markets. It is neither big enough nor rich enough. (VN: Aaah, but the architecture is to be admired indeed!) But it is a foretaste of things to come. The markets keep demanding more and more austerity. Eventually political leaders are going to kick back against that. It might be the first major country to default on its debts, but it won’t be the last, and that means there is a lot more pain ahead for the markets. (VN: We have always known that when they were done with the "slaves", they would then go after the bigger money and right here in this paragraph is the notice to one and all of the monied elite, "here come the bankers" !! Your next! To all people in every country..... DO NOT OVERTHROW YOUR GOV... over throw your brokerage houses that did this INTENTIONALLY, and the IMF. Maybe even the G8 SINCE THEY ARE MEETING WITH NATO, WHICH IS THE MILITARY ARM AND PLANNING SOMETHING we know we will not like, so get ready. Both those organizations are crazy to hold a meeting right now on American Soil, indeed, nuts! Insane!! I would reschedule it to another country right now. Try Britain, their people are unarmed)
The Hungarian economy is a mess. Pumped up by lots of cheap lending during the credit bubble — and in particular by lots of cheap mortgages denominated either in euros or Swiss francs — it hit a brick wall after the credit crunch. It suffered one of the deepest recessions anywhere in 2008 and has struggled to recover since. A mountain of foreign debt has started to catch up with it. The ratings agencies have steadily cuts its status down to junk, and bond yields have soared. Ten-year yields are now up around 10% and the stock market has been hammered.
It is quite clear what the markets want. After a decade-long debt-fueled bubble, they are looking to the IMF to come in and clear up the mess, and make sure foreign investors don’t suffer any losses. If that means a harsh austerity regime for the ordinary people, so it goes. (VN: and a bail out by American Taxpayers, well, over somebody's dead body, I am sure. I say jail the bankers, the bubble makers and then confiscate their assets under the RICO act if they try to take our assets here. We will just simply take them back to the people who already paid for them. They belong to us and I hope Hungary does the same thing there. We need to do all of this globally as citizens and rid our respective countries of the criminal cartel that has taken over the planet. )
History repeats itself.
ReplyDeleteMagyars have done in the past, so shall they again remove the "UNCLEAN".