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FSN: In The Aftermath Of The Greek Blue Light Precedent: Belize Demands Half Off On Its Debt… Or Else

Sunday, August 19, 2012 23:01

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Be prepared for the next great transfer of wealth. Buy physical silver and storable food.

from Zero Hedge

“Greece set a precedent for ‘Here’s what you’re going to get, take it or leave it’” is how the WSJ summarizes an analyst’s ‘shocked’ thoughts on the growing game of ‘call my bluff’ being played among beggars being choosers. Belize, a Central American nation with an economy the size of Pine Bluff, Arkansas, is surprise surprise running out of money to pay its debts and is insisting that creditors forgive 45% of what they are owed – OR allow it to delay any debt payments for 15 years (yes, seriously, read that again) – leaving a default on the country’s $543.8mm almost inevitable.