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What happens when a country goes bankrupt?
Comments
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it is not that CA is going bankrupt, it only has a credit availability issue
The Muni Bond market is "frozen" just like every other credit market worldwide'In nature, there are neither rewards nor punishments - there are Consequences.'0 -
There are always winners and losers. In this situation it is clear to see who the losers are. I am very curious however who the winners are.
Any suggestions?0 -
I have a trip planned to Iceland in December and I am wondering what effect the current economic position is going to have. Part of me says that my buying power is going to be much better but I am not sure what would happen if there was a collapse
Does anyone have any thought on this?
Many thanks0 -
Their currency has been devalued alot apparently so because your money is sterling now your holiday will be cheaper on at least the payments not already made0
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He didn't have the heart to tell the man that Iceland's not in the EU!
Registered here just to pwn the !!!! out of you:
Even IF Iceland is NOT in the EU, the regulations still count for every single country in Europe, if agreed.
Example:
Norway, wich, is not in the EU, _HAS_ to follow EU rules and regulations, a nice example of this is the EU car test, wich if you fail, the car will get junked within 1 month if not fixed.
Therefore; You fail :money:
Cheers.0 -
Or alternatively, don't let banks be so big and apply stricter limits on their capital adequacy.
Earlier THIS year there was a newspaper article saying that it was okay that banks had lower solvency margins as more sophisticated risk analysis made that ok. Sheesh.No reliance should be placed on the above! Absolutely none, do you hear?0 -
Peter Schiff is well worth a listen. !!!!!! posted two items - I watched and listened - scary to say the least!
http://forums.moneysavingexpert.com/showthread.html?t=1211251
Post war Britain was near to bankruptcy. Rationing continued and got worse, but then we had a manufacturing industry that allowed us to export and get income. Now, that is pretty much gone.
Rationing - don't see that - but then, at the moment I think anything can happen. Over on Old Style they are talking about stocking up against the evil day. Whose to say they are wrong!
Scary innit?0 -
I seem to remember in the 70s we had petrol rationing!0
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