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***Breaking News from Bank of America***Dubai Woes May Escalate to ‘Major Sovereign Default’ - Bloomberg!

 
Anonymous Coward
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11/27/2009 11:10 AM
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***Breaking News from Bank of America***Dubai Woes May Escalate to ‘Major Sovereign Default’ - Bloomberg!
[link to www.bloomberg.com]

Nov. 27 (Bloomberg) -- Dubai’s debt woes may worsen to become a “major sovereign default” that roils developing nations and cuts off capital flows to emerging markets, Bank of America Corp. said.

One cannot rule out -- as a tail risk -- a case where this would escalate into a major sovereign default problem, which would then resonate across global emerging markets in the same way that Argentina did in the early 2000s or Russia in the late 1990s,” Bank of America strategists Benoit Anne and Daniel Tenengauzer wrote in a report.

A default would lead to a “sudden stop of capital flows into emerging markets” and be a “major step back” in the recovery from the global financial crisis,’’ they wrote.
Anonymous Coward (OP)
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11/27/2009 11:11 AM
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Re: ***Breaking News from Bank of America***Dubai Woes May Escalate to ‘Major Sovereign Default’ - Bloomberg!
bump
Anonymous Coward (OP)
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11/27/2009 11:12 AM
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Re: ***Breaking News from Bank of America***Dubai Woes May Escalate to ‘Major Sovereign Default’ - Bloomberg!
hiding
Anonymous Coward (OP)
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11/27/2009 11:12 AM
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Re: ***Breaking News from Bank of America***Dubai Woes May Escalate to ‘Major Sovereign Default’ - Bloomberg!
5a
Anonymous Coward
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11/27/2009 11:12 AM
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Re: ***Breaking News from Bank of America***Dubai Woes May Escalate to ‘Major Sovereign Default’ - Bloomberg!
i suspect next week we will start to feel the ripple effects. Today it will be proped up
Anonymous Coward (OP)
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11/27/2009 11:13 AM
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Re: ***Breaking News from Bank of America***Dubai Woes May Escalate to ‘Major Sovereign Default’ - Bloomberg!
i suspect next week we will start to feel the ripple effects. Today it will be proped up
 Quoting: Anonymous Coward 750269


yep
Anonymous Coward (OP)
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11/27/2009 11:14 AM
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Re: ***Breaking News from Bank of America***Dubai Woes May Escalate to ‘Major Sovereign Default’ - Bloomberg!
bump
Avian

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11/27/2009 11:14 AM
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Re: ***Breaking News from Bank of America***Dubai Woes May Escalate to ‘Major Sovereign Default’ - Bloomberg!
fuckers are a month late dammit
"When plunder becomes a way of life for a group of men living together in society, they create for themselves, in the course of time, a legal system that authorizes it and a moral code that glorifies it."
- Frédéric Bastiat

food, water, ammo, weapons, battery back up solar, hand well pump, wood stove and 1 year of food...oh yeah PM's too...good luck
Anonymous Coward (OP)
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11/27/2009 11:15 AM
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Re: ***Breaking News from Bank of America***Dubai Woes May Escalate to ‘Major Sovereign Default’ - Bloomberg!
PIN THIS! hiding bump hiding
Anonymous Coward
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11/27/2009 11:16 AM
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Re: ***Breaking News from Bank of America***Dubai Woes May Escalate to ‘Major Sovereign Default’ - Bloomberg!
Force Majure!!!

Force Majeure literally means "greater force". These clauses excuse a party from liability if some unforseen event beyond the control of that party prevents it from performing its obligations under the contract. Typically, force majeure clauses cover natural disasters or other "Acts of God", war, or the failure of third parties--such as suppliers and subcontractors--to perform their obligations to the contracting party. It is important to remember that force majeure clauses are intended to excuse a party only if the failure to perform could not be avoided by the exercise of due care by that party.

When negotiating force majeure clauses, make sure that the clause applies equally to all parties to the agreement--not just the licensor. Also, it is helpful if the clause sets forth some specific examples of acts that will excuse performance under the clause, such as wars, natural disasters, and other major events that are clearly outside a party's control. Inclusion of examples will help to make clear the parties' intent that such clauses are not intended to apply to excuse failures to perform for reasons within the control of the parties.

[link to www.library.yale.edu]
Anonymous Coward
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11/27/2009 11:20 AM
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Re: ***Breaking News from Bank of America***Dubai Woes May Escalate to ‘Major Sovereign Default’ - Bloomberg!
oh shit hiding
Anonymous Coward
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11/27/2009 11:26 AM
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Re: ***Breaking News from Bank of America***Dubai Woes May Escalate to ‘Major Sovereign Default’ - Bloomberg!
It can't be all that bad, boys and girls..european markets are all in the green...it was just a one-day plunge.

Stand down...
Anonymous Coward
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United Kingdom
11/27/2009 11:28 AM
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Re: ***Breaking News from Bank of America***Dubai Woes May Escalate to ‘Major Sovereign Default’ - Bloomberg!
It can't be all that bad, boys and girls..european markets are all in the green...it was just a one-day plunge.

Stand down...
 Quoting: Anonymous Coward 828349

phew, thanks, can I get back to shopping now?
Anonymous Coward
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Greece
11/27/2009 11:29 AM
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Re: ***Breaking News from Bank of America***Dubai Woes May Escalate to ‘Major Sovereign Default’ - Bloomberg!
burnit
Anonymous Coward
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Northern Mariana Islands
11/27/2009 11:33 AM
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Re: ***Breaking News from Bank of America***Dubai Woes May Escalate to ‘Major Sovereign Default’ - Bloomberg!
Hey remember that company called Dubai Ports World the one George Noory started C2C with???
Anonymous Coward
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11/27/2009 11:33 AM
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Re: ***Breaking News from Bank of America***Dubai Woes May Escalate to ‘Major Sovereign Default’ - Bloomberg!
aw shit, all wet dreams put on hold again.
Anonymous Coward
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11/27/2009 11:33 AM
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Re: ***Breaking News from Bank of America***Dubai Woes May Escalate to ‘Major Sovereign Default’ - Bloomberg!
It can't be all that bad, boys and girls..european markets are all in the green...it was just a one-day plunge.

Stand down...
 Quoting: Anonymous Coward 828349


Considering the FACT that the vast majority of 'wealth' in the world today is monetized debt, it is just a matter of time until your so called green markets turn dust.

But, continue on your merry way, after all, you got money, right? I am sure your paper will taste great with a little salt.
Anonymous Coward
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Canada
11/27/2009 11:33 AM
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Re: ***Breaking News from Bank of America***Dubai Woes May Escalate to ‘Major Sovereign Default’ - Bloomberg!
This is why GOLD and SILVER are going to go PARABOLIC starting next week.
-EAT
I GETTIN ARAB MONEY
User ID: 827284
Bahamas
11/27/2009 11:50 AM
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Re: ***Breaking News from Bank of America***Dubai Woes May Escalate to ‘Major Sovereign Default’ - Bloomberg!
YAAAAAAAAAY WE GETTIN ARAB MONEY


5a moshpit banana2 alien16 chorus
Anonymous Coward
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11/27/2009 11:55 AM
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Re: ***Breaking News from Bank of America***Dubai Woes May Escalate to ‘Major Sovereign Default’ - Bloomberg!
Let those Sheiks sell their cars made of silver and white gold to pay down their debt!

.
Anonymous Coward
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11/27/2009 11:57 AM
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Re: ***Breaking News from Bank of America***Dubai Woes May Escalate to ‘Major Sovereign Default’ - Bloomberg!
You sheep forget that it's OUR MONEY lent to the banks in the federal bailout.
Go to the store this weekend and buy food and ammo.
Lots.
Anonymous Coward
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Finland
11/27/2009 12:23 PM
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Re: ***Breaking News from Bank of America***Dubai Woes May Escalate to ‘Major Sovereign Default’ - Bloomberg!
Damn! We need bailout 2.0 for duh bye! GOBAMA!
Anonymous Coward
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Mexico
11/27/2009 12:41 PM
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Re: ***Breaking News from Bank of America***Dubai Woes May Escalate to ‘Major Sovereign Default’ - Bloomberg!
What do you guys think this means for B of A stock prices???
Anonymous Coward
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11/27/2009 01:20 PM
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Re: ***Breaking News from Bank of America***Dubai Woes May Escalate to ‘Major Sovereign Default’ - Bloomberg!
Just replace the images of bush with Obama, close your eyes and hear what's comin': Everybody Knows.





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Videobarbs
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11/27/2009 05:20 PM
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Re: ***Breaking News from Bank of America***Dubai Woes May Escalate to ‘Major Sovereign Default’ - Bloomberg!
Hey remember that company called Dubai Ports World the one George Noory started C2C with???
 Quoting: Anonymous Coward 614223


Thanks for reminding us. I can't remember the full details, but George did cover it pretty thoroughly when he was first starting on C2C. He saw it as quite the scandal and lo and behold, it is.
The news these days seem to be one step forward and two steps back as the dark forces are fighting behind the scenes. It is reaching some kind of crescendo and it "don't look pretty".
All the while, Babylon (a.k.a. Amerika) is coming off it's glutton filled holiday and slipping into it's annual glutton filled shopping season. Many people are seemingly oblivious of these perilous times or choose to ignore all the warning signs. Ignorance sometimes is bliss.

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